Archive for tag: financing college
Defining Financial Aid
December 21, 2010 6:00 am Education, Financial AidWhen you hear colleges talk about financial aid, you will hear these terms: eligibility, need, expected family contribution, need-based aid, non-need based aid, and loans. It’s difficult to wrap your head around the process if you don’t understand the basic terms that are used when discussing financial aid. Eligibility In order to qualify for financial [...]
Do you need financial aid to attend college?
December 14, 2010 6:00 am Education, Financial AidFor many, the decision to attend college hinges on the ability to pay for it. You may be surprised at the amount of aid that becomes available each year through federally funded grants and loans; not to mention the amount of aid individual colleges award each year in the form of grants and scholarships. On [...]
One Student’s Debt is $550,000
February 17, 2010 4:26 pm Financial AidOne woman decided that an education was worth the student debt. Michelle Bisutti took out $250,000 in student debt before she finished medical school in 2003. But over the years it grew to a $555,000 debt. The woman deferred her loan payments while she did her residency and so default charges compounded the interest rates.
Worry + Funding College = Stimulus
July 13, 2009 7:54 am Financial AidIf you have been putting off a college education because of money worries, the Obama administration has come to the rescue. The new American Recovery and Reinvestment Act of 2009 sets aside $30 billion to make schools more affordable and $40 billion for state grants. The Obama administration estimates that this money will enable more students to go to school, thus bolstering the American economy.
An Easier Financial Aid Form
June 30, 2009 9:18 am Financial AidPresident Obama’s administration is planning on simplifying the federal college aid form. It currently consists of 153 questions, which many families give up on before finishing. President Obama is seeking to make the application more user-friendly so more students may attend higher education.
