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, ...

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 ...

A staggering economy, issues obtaining student loans 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 -- ...

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 ...

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 ...

If a child does not qualify for the free or reduced-price school lunch program, can they still qualify for federal student aid? —Y.P. Yes. Students who don't qualify for the free or reduced-price school lunch program can still qualify for federal student aid and should submit the Free Application for Federal Student Aid (FAFSA). The FAFSA added a question about the ...

February is a short month packed with lots of events. With Groundhog's Day, Black History Month, Ash Wednesday, Valentine's Day and President's Day. You probably thought nothing more would fit in these short 28 days. But, if so, you were wrong! February is also Financial Aid Awareness Month. Which makes it the perfect time to complete your FAFSA form and learn ...

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 ...

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 ...

President Obama proposes to cap student loan payments at 10% of discretionary income as part of a package of proposals outlined by the White House Task Force on Middle Class Families on January 25, 2010. Debt would also be forgiven after 20 years in repayment. This proposal would enhance the income-based repayment plan which was enacted by Congress as part of ...

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 ...

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 ...

It's time to fill out the mother of all financial aid forms: the FAFSA. Don't worry, it's easier than you think! Before you sit down to complete the form, make sure you have all the necessary materials. You'll find that the form seems much simpler when you're prepared with all the information you need. You'll need: Your Social Security card and ...

On July 1st, borrowers who have federal loans with a variable interest rate will be able to take advantage of some 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 ...

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 ...

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 ...

A mistake on your FAFSA can delay the processing of your application for financial aid! Previously, 30 percent of all FAFSAs were selected for verification, a process intended to identify and correct common errors. Some colleges voluntarily required 100 percent of FAFSAs to undergo verification. Today, the US Department of Education is transitioning to a targeted verification system, where a risk ...

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 ...

First things first – what does “maximizing aid eligibility” even mean? To maximize your aid eligibility means to make your finances appear as if you require more aid – or put very simply, to appear poorer than you actually are, therefore resulting in more aid from the government and your school. When maximizing aid eligibility, keep these technicalities in mind. The ...

If you're a current or future college student, chances are good that you're considering a student loan. Before you make any decisions, it pays to understand the basic principles behind borrowing. All loans consist of three components: The interest rate, security component and term. The Interest Rate The interest rate is the lender's charge for the use of their money. The ...