Archive for May, 2008
UM jumps the gun on new Stafford Loans
Two weeks before President Bush signed H.R. 5715 into law, Miami’s financial aid office had already cranked up the presses and doled out non-existent federal student aid. The new law enables undergraduates to obtain an additional $8,000 ($2,000/yr for four years) as an unsubsidized Stafford Loan.
A full 2 weeks before the Senate had even voted on it, Miami awarded a student an unauthorized Stafford loan rather than a Grant or scholarship, saving thems
May 28, 2008
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Additional aid can be obtained before school starts.
By now, you've received your award letter, and thousands of families are unaware they can be challenged. I’m a 29 year veteran of financial aid trench warfare and have been extremely successful at enhancing what many perceive is a lost cause - an appeal.
Here are a few of my guidelines for an appeal letter:
• 2008 income and/or assets will be substantially less than 2007
• Death, divorce, job loss, or excessive health bi
May 22, 2008
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Two students who I counseled will join the Class of 2012 have been shortchainged in their financial aid packages. Harvard ignored the 10% rule and overcharged one family $750. Per my instructions, the other family appealed and received an additional $6,000 of financial aid! What if they hadn't! If there are any Crimson students out there who would like a free review of their financial aid offer, please contact us ASAP!
May 13, 2008
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In 2007, the College Cost Reduction Act (H.R. 2669) increased both the Pell Grant (benefiting students) and the Stafford Loan (benefiting colleges & lenders). While there are far more Stafford borrowers than Pell recipients, the rich got richer at the expense of those less affluent.
Now, in May, 2008, the student loan crisis is taking another turn which will be reinforced by federal legislation, the Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715). Once again, to no
May 8, 2008
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