Recent changes on popular student loan programs will affect recent college graduates, incoming college freshman and parents too. Interest Rates Up As of July 1, new Stafford loans carry a fixed interest rate of 6.8 percent for the life of the loan. Previously, Stafford loans had a variable interest rate that was adjusted every July and a lower interest rate while ...

The U.S. Armed Forces offer several programs to provide students with money for school. Several key programs are listed here. Detailed information about these and other programs can also be found in the Education section of the Military.com web site. Montgomery G.I. Bill Under the Montgomery GI Bill, the Army, Navy, Air Force, Marine Corps and Coast Guard (and their Reserves ...

A common scholarship myth is that millions of dollars go unclaimed each year, and it is exactly that: a myth. But there’s another way to save money that has gone untapped by thousands of students and their families, a source of help “hidden” in plain sight. It’s so hidden, students failed to take advantage of millions of dollars in benefits, according ...

This section of FinAid discusses student aid programs for veterans and their dependents. A discussion of the student aid treatment of veterans education benefits and the definition of a veteran for student aid purposes can be found in the Veterans and the FAFSA section of FinAid. U.S. Department of Veterans Affairs Education Benefits The Department of Veterans Affairs provides information on ...

Most veterans education benefits are treated as resources, not income, for Federal student aid purposes. This means veterans should not report their veterans education benefits as income on the FAFSA. The FAFSA includes separate questions that ask about the monthly benefit and the number of months of benefits expected during the school year (July 1 to June 30). However, there are ...

This page discusses the reporting of combat pay, housing allowances and substistence allowances on the Free Application for Federal Student Aid (FAFSA). It also mentions other pitfalls encountered by veterans, such as confusing aspects of the W-2 statement. Combat pay, although excluded from gross income, is still considered during the need analysis for federal student aid purposes. It is reported as ...

Veterans and active duty military personnel are considered automatically independent for federal need analysis purposes. However, the Veterans Administration and the US Department of Education use a different definition of veteran, leading to some confusion. The definition of active duty also excludes active duty for training or attendance at a service school or, in many cases, members of the National Guard ...

I am in my third semester and have already received my financial aid for this semester; however, our financial circumstances have dramatically changed. My mother was laid off as of the first of August and my father has been found to have cancer and will be off work well into next year with treatments. Is there a way to amend the ...

The Higher Education Relief Opportunities For Students (HEROES) Act of 2003 (Public Law 108-76) is intended to ensure that service members who are receiving Federal student aid are not adversely affected because of their military status and to minimize the administrative burden placed on such individuals. The HEROES Act allows the Secretary of the US Department of Education to waive or ...

Graduate and professional students can borrow money for school through the PLUS Loan Program. Qualifying students who are enrolled at least half time can take out a loan for up to the cost of attendance, minus the amount of other forms of financial aid. You must file a FAFSA and accept all Stafford Loans you are offered before applying for the ...

The US House of Representatives is considering legislation to overhaul the federal education loan and grant programs. The Student Aid and Fiscal Responsibility Act of 2009, nicknamed SAFRA, will increase funding for federal student aid programs and simplify the Free Application for Federal Student Aid. These changes will implement several of President Obama's campaign promises. Switch to 100% Direct Lending Starting ...

Though federal student loans (such as the Federal Stafford Loan) help many students to attend college, families often find that even the maximum loan amounts are not enough to pay for their education. For instance, the average cost of attendance at a four-year public school today is $12,796 and at a four-year private school, it’s $30,367— yet the most money first-year ...

You must submit the Free Application for Federal Student Aid (FAFSA) if you want to apply for federal and state financial aid. Many colleges and universities, especially public institutions, also require the FAFSA. You must submit the FAFSA every year that you want aid. Obtaining a FAFSA The FAFSA is available in several formats, including online, PDF and paper versions. The ...

Filling out the FAFSA could be your ticket to some of the more than $80 billion the federal government provides in grants, loans and work-study programs every year. The FAFSA can also help you get state and school-based financial aid. It could be the most important financial aid form you complete. Find out what the FAFSA is all about. FastWeb's FAFSA ...

The FAFSA is a lengthy form, and somewhat complicated. Be sure to read the instructions before completing the form. Most questions about the FAFSA can be answered just by reading the instructions carefully. You will need the Title IV Institution Code for each school to which you are applying in order to complete the FAFSA. You can get this code from ...

After you submit your application for financial aid, you will receive a financial aid award letter from the college(s) to which you applied, typically in early to mid-April. This letter spells out the details of your financial aid package. A financial aid package is a collection of different types of financial aid from multiple sources. It is intended to help you ...

Tip 1: Prioritize your efforts, starting with the federal government. Then turn to the private sector for additional assistance. Visit FinAid.org to learn about all your funding opportunities. Tip 2: Learn all you can about the college financial aid process. Be sure to meet your aid administrator and establish a relationship. Tip 3: Submit the Free Application for Federal Student Aid ...

With college costs rising, most students need help paying for higher education. And most will rely on more than one source to cover costs. Learn how to put together the pieces of your financial aid package. Grants Grants are awards based on financial need or funds distributed to support a specific project (e.g. research grants). This is free money that doesn't ...

We asked parents to share their advice on the financial aid process, based on their experiences with their children. Here's what they said: "Keep a file folder with each piece of correspondence in it. That way you have a paper trail. Every time a new loan, grant or financial aid comes in, you may receive a revised bill. Also, make sure ...

We asked FastWeb members to pass along their advice on financial aid, based on their personal experiences. Here's what they said: "It is NOT your school's responsibility to keep track of your account, it's yours! If you think that something is not right about your financial aid, check it out. Even if the school's mistake seems to be favoring you, you ...