Students, universities and politicians around America may be eagerly waiting for a ruling that will extend student loan interest rate cuts by one more year, but few people are paying attention to other ways by which students will be forced to shoulder more of the expenses on their loans. Take for example subsidized loans for… Read more »
Federal Student Aid
Free Application for Federal Student Aid
Escalating college costs and an uncertain economy make paying for college a struggle for families from all walks of life. But there’s a whole plethora of different student aid available to help students financially. Whether you’re enrolling in college for the first time or returning to school after a period of time off, you should… Read more »
Federal Work-Study (FWS) Program
Getting a college education is more important than it was 10 years ago, but with tuition skyrocketing, paying for college is becoming more of a struggle — especially for the growing number of students from low-income families. While student loans and grants are available, the interest rates of the former and the scarcity of the latter… Read more »
Grad PLUS Loan
According to FinAid, Graduate and Professional Student PLUS (Grad PLUS) Loan operates in similar fashion to the parent PLUS Loan – as a low-cost supplement to borrow. The same terms and conditions applicable to PLUS Loans for parents also apply to PLUS Loans for graduate and professional students: a fixed interest rate of 7.9%. No… Read more »
Direct PLUS Loans for Parents
Parents of dependent students1 may apply for a unsubsidized Direct PLUS Loan to help pay their child’s education expenses as long as certain eligibility requirements are met. Here, the parents are responsible for repayment on the loan, not the student. A Parent PLUS Loan, often referred to as “financial aid for parents”, allows the parent… Read more »
Direct Stafford Loan
The Direct Stafford Loan is the biggest source of low-interest loans for college-bound students who demonstrate financial need. In fact, nearly all students are eligible to receive Stafford loans regardless of credit. These loans come in two flavors: either subsidized or unsubsidized. “Subsidized” means that the interest is paid by the government while the student… Read more »
Federal Perkins Loan
A federal Perkins loan is a subsidized loan for undergraduate and graduate students with “exceptional” financial need – regardless of income level or credit history. Unlike the Stafford loan and Parent PLUS loan, the Federal Perkins Loan is one of the three campus-based financial aid programs – that is, the U.S. Department of Education funds… Read more »
Changes to Federal Student Aid
On December 23, 2011, President Obama signed into law the Consolidated Appropriations Act, 2012 (Public Law 112-74).1 The new law significantly impacts the Federal student aid programs. Here is some information on the changes made to the Title IV student aid programs and the effective date of those changes. 2012-2013 Pell Grant Amounts The Consolidated… Read more »
Federal Supplemental Educational Opportunity Grant
The system of students receiving financial support in the United States is a practice that dates back to 1643 and Harvard college, while as of 1944’s G.I Bill of rights military veterans were eligible to receive support and financial aid from federal funds for tuition and living costs. As time passed and education steadily gained… Read more »
Federal Pell Grant
The Federal Pell Grant program is the largest need-based student aid program. In 2011 alone, the U.S Dept of Education handed out 34.8 billion in Pell Grants.1 Pell Grants are only awarded to low- and middle-income undergraduate students who have not earned a bachelor’s or professional degree. For many students, these grants are the foundation… Read more »