While a lot of kids are celebrating the arrival of summer and planning trips to the pool and beach, many students are heading back to school for the summer. If you are one of them, there is some good news for you! For the first time in the history of the Federal Pell Grant, students who have used all of their Pell Grant eligibility in the fall and spring semesters can receive additional grant funding for summer school. The change, legislated by the 2008 Higher Education Opportunity Act, is
Archive for the Financial Aid Category
Title is a sing-a-long to, Where have you gone Joe DiMaggio? Arizona colleges plan to raise tuition by double digits! Reported by Anne Ryman in The Arizona Republic Double-digit tuition increases could be in store for all undergraduate students at the University of Arizona and for new students starting in fall 2009 at Arizona State University and Northern Arizona University. But students at two of the three state universities, ASU and NAU, would get a bit of a break in future years as
Vanderbilt announced today that beginning with the 2009-2010 academic year, they will offer grants to all students in lieu of need-based loans. This applies to all new and returning students. Way to go Vandy!
The Obama education tax credit will not only target lower income families, but those of middle income families as well. Here's how the numbers stack up for two families of 4: Adjusted gross income $66,000 Itemized deductions 20,000 4 exemptions @$3,500 14,000 Taxable Income $ 32,000 Tax $ 4,000 Tax credit 4,000 Tax due
Reecy will be the focus of a FREE teleseminar Thrusday, Aug. 7th. Get the details here. Learn legal secrets to qualify for maximum financial aid and how families can appeal unappealing financial aid offers!
Reecy Aresty, president of College Assistance, Inc., an admissions/financial aid services company in Boca Raton, FL, announced today that he will be concentrating his efforts and financial aid expertise to assist MA families caught up in this latest loan snafu. Families are encouraged to send an email to email@example.com or call him for a FREE consultation at: 561.353.4000.
In a sincere effort to make college more affordable, President Lyndon B. Johnson signed the Higher Education Act of 1965 allocating billions of dollars for low interest student loans. It is fair to say that the Johnson Administration could not have foreseen that their good intentions would actually lead to an escalation of college tuitions past the $50,000 mark! In the same manner that insurance coverage has lead to obscene medical costs, the government’s federal aid for higher educatio
New rate schedule follows: First disbursement of a loan: Interest rate on the unpaid balance Made on or after And made before July 1, 2008 July 1, 2009 6.0 percent July 1, 2009 July 1, 2010 5.6 percent July 1, 2010 July 1, 2011 4.5 percent July 1, 2011 July 1, 2012 3.4 percent The above chart is for subsidized loans only; unsubsidized Stafford Loans remain at 6.8%.
Reported in the Memphis Business Journal Tuition and fees at Tennessee colleges and universities will increase 5.85 percent in 2008-09, according to the Tennessee Independent Colleges and Universities Association. For the 2008-09 school year, the average published tuition and fees for undergraduate students attending a TICUA member private four-year institution in Tennessee will be about $18,000 per year. Last year, students attending four-year private institutions in Tennessee paid 28 per
Reported by Janet Frankston Lorin - Bloomberg A U.S. program to support college lenders is ensuring that students will get the government-backed financial aid they need for the 2008-2009 academic year, after a seizure in the credit markets threatened the flow of funding. At Michigan State University in East Lansing, 6,042 students have received $26 million in federally guaranteed loans since early May, said Val Meyers, associate director of financial aid, in an interview on June 6. SLM Cor
On May 7, 2008, President Bush signed into law the Ensuring Continued Access to Student Loans Act of 2008, which was supposed to quell panic in the student loan crisis. However, in reality, it did nothing more than add fuel to an ongoing fire by ensuring that the colleges and lenders will benefit at the expense of students and their families. The new law follows on the heels of the Higher Education Reconciliation Act of 2005 (HERA), and should be re-titled the Ensuring Continued Increases to
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
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
Beginning with school year 2008-2009, Oberlin will eliminate loans for students who are eligible for Pell Grants. Way to go Oberlin!
"Students have a right to ... 1. Pay off college loans early without incurring an early-repayment charge. Yes No 2. Cancel a private loan within three days of signing an agreement with a lender. Yes No 3. Take 30 days after approval for a private loan to think about whether the loan is needed without risking changes to the loan terms. Yes No 4. Take out a loan from the lender of a student's choice, regardless of whether that lender is on a student's colleg
Beginning in 2008-09, Colby will eliminate loans from students’ financial aid packages.
Cornell University will be giving out more grants and free money to undergraduates beginning with next year. No more need-based loans for families whose income is less than $60,000. The new directive will cap loans at $3,000 for families who make $60,000 to $120,000 a year. In the fall of 2009 it will increase to $75,000.
Reported by Peter Schworm - The Boston Globe The College of the Holy Cross in Worcester announced yesterday it will waive tuition for students from the city of Worcester whose families earn less than $50,000 a year, in an effort to attract more low-income and working-class students to the private Catholic school. College administrators said the initiative, which is unusual for a small, liberal arts college, will make it possible for more city students to attend the school and help famili
INDIANAPOLIS (WISH-TV) - Legislation that could help thousands of Hoosiers continue their college educations is sailing through the statehouse. Indiana students who receive state-sponsored financial aid must use it or lose it. A bill that passed the House of Representatives unanimously would do away with a time limit. Megan Johnson is an IUPUI sophomore who works full time in the University's Financial Aid Office. She knows she will not graduate in four years. If it would take more than te
The college announced last week that it will replace all its loans with permanent grants beginning in the fall in an attempt to ease the amount of money students owe when they graduate.