From admissions to graduation and beyond
Sallie Mae announced that it would no longer offer consolidations under the federally guaranteed loan program. Students typically consolidate their loans after they graduate, combining loans from each of their years in college into a single loan to make it easier to manage when paying back the money, assuming there is a better loan rate.
The Yale School of Medicine has overhauled its financial aid policy with a major boost in aid to middle-income families. For 2008-2009, they will eliminate the required parental contribution for families making up to $100,000 per year. Way to go Elay!
Beginning with the 2008-2009 school year, loans for incoming first-year students will be reduced an additional $500. This will result in a maximum loan per year of $1,000 for students whose family incomes are $50,000 or lower; $2,000 for family incomes between $50,000 and $80,000; and $3,000 for family incomes over $80,000. Way to go Middlebury!
Beginning with school year 2008-2009, Oberlin will eliminate loans for students who are eligible for Pell Grants. Way to go Oberlin!
