Several grass-roots groups were established on Facebook in early 2009 calling for the cancellation of all student loan debt under the theory that this will stimulate the economy. Most noteworthy is the group Cancel Student Loan Debt to Stimulate the Economy (see also www.forgivestudentloandebt.com) founded by Robert Applebaum, a New York attorney. This group has grown to have more than 220,000 ...

In a statement today, the Obama Administration announced sweeping changes to the FAFSA. Families filling out the FAFSA will no longer have to go through such a painstaking process just to see if they qualify for aid. With the new changes, the online FAFSA will see a drop from 30 screens of questions to 10, according to CNN. The goal, according ...

If you're struggling to make your monthly student loan payments on your measly first-job salary, you're not alone. The good news is, the government is taking notice -- and changing the game to make sure monthly payments don't cripple college grads. Even better, whatever you haven't paid off after 25 years may be forgiven. With this new option, instead of calculating ...

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 ...

If you’re thinking about consolidating your variable-rate federal student loans now — don’t. At least not until July 1, 2009. Starting in July, the interest rates on these education loans will drop to a historic low — which will save you thousands of dollars in interest over the life of your loan. But the new rates are only available on federal ...

Stephanie Stevenson’s parents always encouraged her to pursue higher education, saying it would not only make her a better person but a better citizen. Stevenson has taken this to heart by achieving high grades at the University of Maryland and plans to gain a Ph.D. in Public Policy and Urban Planning. Today, at a White House Press Conference on Higher Education, ...

President Barack Obama has vowed to make education a top priority. But what does that mean for you? According to Education.com, America lags behind many nations in the world when it comes to making college affordable. To make college more affordable for Americans, Obama plans center around two goals: his American Opportunity Tax Credit and freeing up more money for aid ...

A faltering economy, the student loan crunch and rising tuition are making it increasingly harder to pay for college. But there is a bright light at the end of the tunnel for those in the know. The yearly phenomenon known within the financial aid community as the "summer melt" is working in students' favor -- this year more than ever -- ...

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 ...

On July 1st, borrowers who have federal loans with a variable interest rate will be able to take advantage of the lowest interest rates in the history of student loan programs through loan consolidation. Borrowers who consolidate will not only save themselves a lot of hassle but a great deal of money as well. The new interest rates will save borrowers ...

The US House of Representatives passed the Student Aid and Fiscal Responsibility Act of 2009 (SAFRA) on September 17, 2009 by a party-line vote of 253 to 171. This legislation eliminates the federally-guaranteed student loan program and replaces it with 100% direct lending from the federal government. SAFRA uses the savings to fund an increase in the Pell Grant program among ...

For you juniors starting to think about your next step, you’re realizing that your college search might boil down to one thing: money. But if the sticker price on your dream school isn’t realistic, don’t worry. The advertised tuition figure isn’t always the bottom line. Hidden programs could wind up saving you hundreds, if not thousands, of dollars. Here are four ...

Is your financial aid advice featured in The New York Times? Didn’t think so. Mark Kantrowitz, Publisher of FastWeb and FinAid, is nationally recognized as an often quoted leading financial aid expert. With degrees from M.I.T., Carnegie-Mellon and more quotes than Webster’s, he is the financial aid guy’s financial aid guy. Here’s his advice for these tough times. Kantrowitz strongly encourages ...

Like many nontraditional students, I found the process of returning to school intimidating. Worries hung over my head. How would I pay my bills? Support my family? Pay my tuition? It was those questions that drove me to begin my own scholarship hunt. I used FastWeb, asked friends and kept my eyes open. Yet when I found scholarships I was eligible ...

Maybe you have a fellowship. Or student loans are helping you out. But even if you're not strapped for cash, you should check out an important part of graduate school funding: research grants. Like a scholarship or fellowship, research grants can help to fund your graduate work. But a research grant offers so much more: an opportunity to further your unique ...

This year more than ever, the economy is making it more difficult for families to pay for college. The number of financial aid applications is up more than 10% over last year. Lenders are suspending loan programs and tightening credit standards. Families are concerned -- really concerned -- about obtaining loans and paying for college. Add in the possibility of job ...

With President Barack Obama's inauguration, many people are looking forward to the changes he promised during his campaign in 2008. He set specific goals in evolving the college application and attendance process. One specific plan is the American Opportunity Tax Grant. Another is the elimination of the FAFSA. President Obama and Vice President Biden hope to streamline the process of applying ...

Even though the bailout bill has been passed, most Americans are still wary of future financial woes. Students are especially worried, seeing as their funding for college is tied up in private loans and may have been affected by the recent sub prime mortgage crisis. Mark Kantrowitz, a leading financial aid expert and publisher of FinAid.org, has a few tips to ...

A mistake on your FAFSA can delay the processing of your application by up to three weeks. One in seven FAFSA forms is returned due to errors. It could happen to you. Avoid the most common mistakes: The most frequent mistake made is leaving a field blank. If the answer is zero or the question does not apply to you, write ...

If she wanted to save money on tuition, Erin Patterson had to make some money quickly. As an out-of-state student at the University of Missouri-Columbia, Patterson needed to earn a certain amount on her W-2 in order to claim residency and thus lower her tuition bill. “I had no intention of becoming a resident of Missouri when I started college, but ...