According to The Chronicle of Higher Education, the U.S. Senate may soon decide that the Perkins Loan Program could return for about 2 years, with some significant changes for the college students who are eligible for it.
The Institute for College Access and Success recently released a report on student loan debt in the U.S. The average student loan debt was reported at $29,000; the report also examined student debt by state and discussed factors involved for any changes in averages, such as the college’s cost of attendance and the available financial aid. New Mexico and Utah were reported as states with particularly low debt.
You’re happy over the colleges that have accepted you and can’t wait to tell all your family and friends the news. However, after your initial excitement, one tiny question pops into your mind: how are you going to pay for it? Perhaps you’ve received a financial aid letter from your college of choice. There are 3 questions you should be able to answer after reviewing your financial aid: 1. What
As summer winds down, students begin to trickle back onto their campuses and their dorms. For those who no longer have to deal with living in a triple room in the dorms, an off-campus space makes the new school year even more exciting. For students living off-campus, student loans may be able to help you meet your off-campus costs. The U.S. News has a few handy tips to offer regarding
Despite the general affordability of community college, some students struggle to pay without federal student loans, the New York Times reports. Based on a report from the Institute for College Access and Success, the tuition average of community colleges is $3,260 per year. However, necessities like textbooks and housing can bring up the total cost to $15,000. Nationwide, about 9 percent of community colleges do not offer federal student loans;
As the U.S. News has stated (“4 Changes Coming to Student Loans”), a few new rules about U.S. student loans have gone into effect starting from July 1st. The first change involves interest rates on student loans. If a student has a new loan disbursed on or after July 1st, the interest rate on that loan will be fixed. If the loan already has a fixed rate, the interest rate
Students wondering how to pay for college have many kinds of financial aid to consider, like scholarships, grants, and student loans. The PLUS loan is a loan from the U.S. Department of Education. Students can use this loan to pay for some of their higher education expenses. In order to apply for a PLUS loan, students must submit the FASFA. There are two kinds of people who are eligible for
Last week, Senator Lamar Alexander and Senator Michael F. Bennet announced a bill that could simplify the FAFSA process for students. How would they change the FAFSA? By cutting down 108 questions to 2 questions about family size and household income from two years ago. If the FAFSA (Free Application for Federal Student Aid) was simplified, the senators stated that families would be able to receive earlier information on a
A memorandum about student loans was signed last week by President Obama on June 9,2014. The new student loan regulations are intended to make the loan repayment process easier for borrowers. After graduation, many students who rely on loans for college find it difficult to do things like buy a home, support a family, or start a business. The biggest change proposed by the plan was that it would allow
