How Will The Student Loan Bill Affect Students?

im single im go to school for 4 months i need to finish and, my bills affeted my school, because i cant concentrated next year april 2011 im done. i need some help to pay my debts. thanks.

I am a grad student now, and I do not get any financial aid, other than student loans. They will let you borrow for as long as you want, though! haha

I know it is rough to have to use parents information to try to get financial aid. When I first tried to go to college my dad was on disability income and my mom worked as a custodian. Together they made about 30,000 a year for a family of four and still the only aide I could get were loans. I thought it was dumb and put off college for a couple years hoping it would get better. Nothing changed but I wanted to go to college so bad that I just took the plunge and went to school anyway. I turned out to be a very good student and was offered scholarships and work study so I would continue my education. And guess what I worked 2 jobs had my own apartment and went to school full time and had excellent grades. I made the deans list both years. And guess what I was from a poor family. So what I believe is it comes down to your dreams. If you really want to have a better life you have to try. There are also sholarships for students of all ages and courses of study. So quit complaining about what you can't do and do something you can do. Don't let your dreams slip away.

I have recently returned to school I have been out for 12 years but I still have dreams to fulfill. I have an AA degree with an emphasis in Accounting but would know like to have a bachelors deree and become a CPA.. I am 35 years old I worked as a head bookkeeper for a corporation for 8 years until the company folded. So I figured it was a good time to go back to school but I still have obstacles in my way to continue my education. This time on paying for school but with being ill. I was diagnosed with Fibromyalgia and Bipolar II disorder. But I am still going to school and I am still achieving good grades. So I guess my point is don't let things stand in your way. Stop complaining and reach for some stars you'll be surprised who will reach back to help you if you want it bad enough. Good Luck to all and keep on striving.

I think that government help for college student is great because not
alot of people can afford to pay for school.

You may be able to be officially independent if you have a child but my parents cant support my way through college and Im certainly not going to have a child to be able to be classified as an independent. I fit in with the middle class families and Im not getting help to go to college like i should. I work two part time jobs and go to school full time at a commimity college but next year at a culinary college tuition is far more for me to afford. I guess being poor in america is better then being in the middle class....where's my money??

Frank, students whose parents don't support them can become officially independent and thus no longer have to share their information on the form anymore. Independence is automatic for students with children of their own, regardless of age.

The very rich can afford to pay the full ride of their children's education cost and living expense. From what I have seen and experienced with my children, the very poor have many opportunities to receive grants and funding. Most scholarships or grants state they are based and awarded on based on "Need". This leaves middle america's children screwed out of the opportunity to qualify for grants and scholarships. The FAFSA form is totally unfair to most completing it. It requires you to include your parents or parent you live with and your step parent's income even if that step parent is not legally responsible to support you. Which in a lot of cases they do not. This will always make your Family Contribution rate much higher than it should be eliminating many students from receiving Pell Grants. Secondly, the government asks for your all income and property ownership but Does NOT ask what expenses you have to cover with that income. Granted 45,000 may sound like alot of money to some,(personally it is definitely not emough to survive on today) but when you add up all your monthly expenses, medical expenses mortgage payments, loan payments, property taxes and Govenment and State Taxes that are paid with that 45000, they would probably find that there is no extra money left to contribute to your childs education. And the more money you make, lets remember the more Taxes are taken out. A family earning 100,000 is most likely having anywhere from 15000 to 25000 of their income going to pay Taxes alone. Sometimes it's not worth making more because that extra just goes for taxes. The family contribution amount should be based on the family annual NET and not the Gross. Another thing some of you may not be aware of is that once the student turns 24, they are no longer required to include their parents information on the FAFSA thus allowing them to be eligible for Federal and State Grants. My son's college cost 45,000 a year. At age 23 (took a break after his 2 yr degree) his family contribution was expected to be 41,000 Which there is no way we could ever afford to pay that much. At age 24 without our information his expected amount dropped to 15000 and he now received 17000 in grant money from the Fed and State and about 5.000 from the college. I suggest you check with each schools Financial Aide office to see if and how they might adjust the family contribution amount. My children went to 2 differnt colleges, one did not count "overtime" as part of our income because it was not guarrenteed each year. As far as the other school was concerned, it was money earned and it counted. I definitely suggest you meet with the financial aide office before selecting the school you will attend. It could mean thousands of dollars saved out of your pocket and your parents.
Also, all of these single parents are eligible for more aide because they have children and do not need to include anyone else's income on the FAFSA. The poorer you are the more money you can receive in grants that do not have to be repaid. Sure you may still have loans to repay but if you take 2 students equal in GPA's taking the same major going to the same college, one middle class and one poor, when all is said and done, the middle class student will end up owing more in student loans.
Most student loans have a consolidation policy but there may be certain criteria you need to meet to qualify.
My state offers loans through the state but in order to qualify for consolidation, you must owe 30,000 or more in total.

Of course I wish all of this came in time for me...however I am glad it will be easier on the generations to come...especially when my daughter is in college 10 years from now! What's done is done...Obama has been the first president to actually DO something...so at least its a positive change!