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
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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 firstname.lastname@example.org 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
Reported by Gil Kaufman - M TV Ohio GI Promise essentially grants vets full scholarships at state's public schools. Just a week after President Bush signed off on a new GI Bill that essentially guarantees veterans of the Iraq and Afghanistan wars full scholarships at their home state's public colleges and universities, Ohio has upped the ante by announcing that it will offer in-state tuition rates to those who attend college in the Buckeye State. According to The New York Times, the Ohio
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
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
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!
The big print giveth: In Sept. President Bush signed a law adding $85 million to the previously allocated $238.1 million for 39 predominately black colleges. The small print taketh away: The Bush administration's new budget cuts aid to the schools by the same amount, angering Democrats who helped provide the money!
Washington University's plan says that families with incomes of less than $60,000 will no longer be expected to take out student loans. The school will instead provide those students with grants. The proposal will cost the school an additional $2.5 million on top of the $60 million it already spends on financial aid. Big deal!
This $50,000+ per year school will boost scholarships for students with family incomes below $60,000. It will also allow RPI to offer aid to families in the $60,000 to $160,000 bracket who might not have qualified for it in the past, said James Nondorf, vice president for enrollment. More details to follow.
The UM College of Literature, Science and the Arts will up its aid next year and double the number of students who will receive need-based scholarships and grants to 1,000. Big deal!
Reported by Michelle Diamond - Columbia Spectator Columbia made a phenomenal commitment to financial aid last year, transferring all loans to grants for students whose families make less than $50,000 a year. I was extremely proud of Columbia’s commitment, and I still am. Columbia has also been rather generous in providing me with financial assistance, so I in no way mean to appear ungrateful when I say that our University needs to do more—and not only because of the recent commitments o
Reported by Jodi Cohen - The Chicago Tribune Trying to keep pace with the nation's elite schools, Northwestern University announced Thursday it will expand financial aid to help more families afford its pricey tuition and fees. Starting next fall, about 450 of Northwestern's neediest undergraduates each year -- most with annual family incomes of less than $55,000 -- will have their loans replaced with grants, enabling them to graduate debt-free. The scholarships are worth at least $12