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How the Increase in Financial Aid Applications Will Affect You
More students means more financial aid applications.
By Kathryn Knight
January 06, 2009
Colleges all over the country are seeing a rise in applications for federal financial aid. In 2008, more than a million more students applied for financial aid, marking a 10.5% increase from 2007. In the first quarter of 2009, applications for financial aid are up 20.8% as compared with the first quarter of 2008. Not only are more students applying for financial aid, but more students are qualifying for need-based aid.
Financial aid pleas aren’t just voiced toward the federal government. Colleges and universities across the country are also seeing a rise in financial aid applications. Five out of six colleges are experiencing an increase in applications for financial aid. Duke saw a 6% increase in students applying for financial aid, while North Carolina saw an increase of 22%.
Unlike Duke, most schools cannot meet 100% of financial need within its student body. Therefore, students have to make more costly decisions, such as transferring to less expensive schools like public universities or community colleges. Others are stacking up on student loans and creating a mountain of debt to be dealt with after graduation.
So what can you do to avoid transferring or loading up on debt? Talk with your financial aid office first to see what they can do to alleviate some of your financial concerns. Start up a part-time job during your second semester—the paycheck can go straight to your tuition bill. Finally, check out peer-to-peer lending sites to borrow from family and friends instead of private lenders.
col_grants
almost 2 years ago
Also, look for school grants from private organizations and institutions. Besdes federal grants there are lots of school grants available from alternative sources, if you do your homework.
TobiasM10
almost 2 years ago
dear,
I am a liberian and live out of the United States. Therefore, can I benefit also?
Tobias
tobmatt@yahoo. com
ArkorfulD
almost 2 years ago
l need your help to futher my education this my phone number 002330271518140
ArkorfulD
almost 2 years ago
l need your to further my education thank you
NathanH24
almost 2 years ago
Everyone is experiencing financial hardships these days. Stop complaining and expecting government handouts. I worked full-time for 5 years making $9 an hour to save up for school. You can create your own future if you try.
ErickM151
almost 2 years ago
i`m a man of thirty years of age ,doing my first year in the university of south Africa.my problem i can`t affort to pay fees.i need help to finish my BAsocial work.
GwendolynM24
about 2 years ago
I'm a single mother that has been unemployed for 9 years. I would like to go back to School to have a beter chance in the workforce due to the fact that I've been unemployed for so many years I do believe I could have a better chance if I was given the opportunity to go back to School and get retrained in something else.
OkiriaL
about 2 years ago
Why is it that your scholarships sre limited to European countries only not even the African countries?
YomiO
about 2 years ago
i like to study in your university with scholarships and your help
shanaynecoledewitt
about 2 years ago
i would love to attend the school that i want instead of settling with only the school i can afford. I feel that my options are restricted and limited because of my financial issues. I have been searching for a job and babysitting trying to make my way through my high school life. I have not had any luck with a job. The money that i may earn is not often at all and it is hard to save when i am in need of something. I will certainly go to a school that i can afford. However, i would like it to be the school of my choice where i feel comfortable and am actually succeeding.