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    How Much Income is Too Much When Applying for Need-Based Aid?

    In general, with the student not working and in a home with mom and dad both working, what is the maximum income they can earn and still qualify for financial aid? — Tracee N. Federal student aid is awarded based on the student and parent income and assets, household size, number of children in college and a variety of other factors. ...
    Published over 4 years ago | Rate This
  • -998

    President Obama Proposes Cuts in Aid Programs to Preserve Pell Grant

    President Obama is proposing to cut some student aid programs to maintain the maximum Pell Grant at $5,550 in 2011-12 as part of the FY2012 federal budget request. This comes after the House Republican leadership proposed cutting the maximum Pell Grant by $845 on Friday. The Pell Grant program has a $20 billion funding shortfall due to large increases in the ...
    Published about 3 years ago | Rated: -998
  • +250

    Would Forgiving Student Loans Stimulate the Economy?

    Would Forgiving Student Loans Stimulate the Economy?
    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 ...
    Published over 4 years ago | Rated: +250
  • +253

    Grads to Get a Break on Student Loan Payments

    Grads to Get a Break on Student Loan Payments
    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 ...
    Published almost 5 years ago | Rated: +253
  • +11

    What types of student aid are available for a second Bachelor's degree?

    I am thinking about going back to school to get a second bachelors degree. Because I already have a B.A. degree, it seems that I am not able to receive any aid other than student loans. Is this true or am I missing something? — Josh S. Student with a prior Bachelor's degree are ineligible for the Pell Grant, Academic Competitiveness ...
    Published over 4 years ago | Rated: +11
  • +11

    Congress Raises Debt Ceiling, with Shifts and Cuts in Student Aid Funding

    Congress passed the Budget Control Act of 2011 on Tuesday, August 2, 2011, raising the debt ceiling at the last minute. The debt deal cuts some student loan benefits, especially for graduate and professional students, but avoids a more severe cut in government grants for undergraduate students. The Budget Control Act of 2011 passed the US House of Representatives by a ...
    Published over 2 years ago | Rated: +11
  • +24

    Trick or Treat: President Obama's Plan for Cutting Federal Student Loan Payments

    Income-based Repayment Who: 1.6 million borrowers since 2008 with at least one loan in 2012 or later, generally borrowers whose total federal student loans exceeds their annual income What: Reduces cap on monthly loan payments by a third, from 15% of discretionary income to 10%, and forgives the remaining debt in 20 years instead of 25 When: Starts in 2012 ...
    Published over 2 years ago | Rated: +24
  • +78

    Economy Causes Panic over Paying for School

    Economy Causes Panic over Paying for School
    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 ...
    Published almost 5 years ago | Rated: +78
  • +24

    How Do I File the FAFSA in January When Tax Returns Can't Be Filed That Early?

    Several universities that we have visited have stressed the importance of getting you FAFSA completed in January. If we don't have all of our financial and tax information yet, how can we complete the application that early? — Claudia G. The Free Application for Federal Student Aid (FAFSA) should be submitted as soon as possible after January 1. While the federal ...
    Published over 3 years ago | Rated: +24
  • +12

    Why Do Students Drop Out of College?

    A study funded by the Bill and Melinda Gates Foundation found that the main reason why students drop out of college is the conflict between school and work and family commitments. The study, With Their Whole Lives Ahead of Them, was conducted by Public Agenda, a nonprofit and nonpartisan public policy research organization. Many students who drop out of college have ...
    Published over 4 years ago | Rated: +12
  • +19

    The Horrors of Defaulting on Education Debt

    The Horrors of Defaulting on Education Debt
    This is a cautionary tale of the consequences of defaulting on education debt, based on the experiences of seven borrowers of federal and private student loans. The stories are all true, but names and inconsequential details have been changed to protect the borrowers. Education debt is a necessary evil. Most students graduate from college with debt. For example, seven out of ...
    Published over 4 years ago | Rated: +19
  • +150

    President Obama Proposes Capping Student Loan Payments at 10% of Discretionary Income

    President Obama Proposes Capping Student Loan Payments at 10% of Discretionary Income
    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 ...
    Published about 4 years ago | Rated: +150
  • +14

    How Do I Become Independent on the FAFSA If I Am Under Age 24?

    If my son applies for public assistance and does his own financial aid, will he be able to apply as independent next year? In addition, (assuming he's able to) would I be able to claim him on my income tax returns this year? He is 19 years old. My goal is to get him as much financial aid as possible. I ...
    Published almost 3 years ago | Rated: +14
  • +18

    How to Minimize Student Loan Debt

    How to Minimize Student Loan Debt
    This article discusses the need to minimize student loan debt and provides more than a dozen practical tips on ways to reduce borrowing for college costs. Try to avoid overborrowing for your college education. Do not treat loan limits as targets. A good rule of thumb is that your total education debt for your entire college education should be less than ...
    Published about 3 years ago | Rated: +18
  • +44

    The American Recovery and Reinvestment Act of 2009 includes a Big Boost in Student Aid Funding

    The American Recovery and Reinvestment Act of 2009 includes a Big Boost in Student Aid Funding
    The American Recovery and Reinvestment Act of 2009, also known as the stimulus bill, includes major increases in student aid funding for the 2009-10 academic year. It includes the largest dollar increase ever in the maximum Pell Grant and significantly expands the Hope Scholarship tax credit. It also increases funding for the Federal Work-Study and AmeriCorps programs. The legislation was signed ...
    Published almost 5 years ago | Rated: +44
  • +276

    February is Financial Aid Awareness Month

    February is Financial Aid Awareness Month
    February is one short month jam-packed with tons of important events! Yep, February claims Groundhog's Day, Black History Month, Ash Wednesday, Valentine's Day and President's Day. While you probably thought that was enough to fill such a short month, there's one very important celebration that takes place all month long that you likely overlooked. But, at Fastweb, it's one of our ...
    Published 3 months ago | Rated: +276
  • +18

    Consequences for Student Financial Aid If Congress Doesn't Raise the Debt Ceiling

    The game of chicken being played out in Washington, DC, may have serious consequences for student financial aid as well as the rest of the economy. Congress and the White House are fighting over raising the debt ceiling, which caps the amount the federal government can borrow to pay its bills. The current debt ceiling is set at $14.294 trillion. The ...
    Published almost 3 years ago | Rated: +18
  • +16

    Top Ten Myths About Scholarships

    Top Ten Myths About Scholarships
    There are many myths about who wins private scholarships and the benefits of winning scholarships. These myths can be harmful if they give students and their families unrealistic expectations about their ability to win scholarships. Some myths cause students to underestimate their eligibility for scholarships, discouraging them from applying for scholarships. Other myths cause students and parents to overestimate their eligibility ...
    Published over 2 years ago | Rated: +16
  • +13

    Secrets to Settling Defaulted Federal Student Loan Debts for Less than What You Owe

    Your federal student loans are in default and collection agencies are calling you dozens of times a day. They are threatening to garnish your wages, offset your income tax refunds and ruin your credit. They may even have crossed the line into harassment, calling you a worthless person and threatening you with physical harm. Are there any ways of getting out ...
    Published almost 4 years ago | Rated: +13
  • +22

    How does child support affect eligibility for student aid?

    I have been divorced for more than 10 years and receive a small amount of child support from my ex-husband. At the time of the divorce, I agreed to let my him claim my daughter on his income tax return during the odd years. He does not cooperate with any other expenses, so the bulk falls on me. He is anxiously ...
    Published over 4 years ago | Rated: +22