Loans Debts And Students
Natasha Bright
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Posts by Natasha Bright
Expansion Of College Aid Resources Good News For Students
Aug 5th
This year President Barack Obama appeared at Northern Virginia Community College to sign a major section of what most people have been calling his health care reform bill. But this section had absolutely nothing to do with insurance or any other aspect of health care. On the other hand, it has a lot to do with helping students get educational scholarships in the very immediate future.
If you were to ask the general public what was the actual title of the bill Obama signed, don’t be surprised if you get a blank stare. It’s actually called “The Health Care and Education Reconciliation Act”. Most media pundits grossly ignored the second half of that title. What’s important is if it goes as planned it could have a very big impact on education, including online colleges.
Admittedly, a considerable amount of the education sections of the bill have to do with elementary and secondary schools. At the same time, who can deny that if this part of the education system isn’t overhauled, the prospects of having primed students for graduate and post-graduate education becomes slim, if not none.
What will have the most impact on the college level begins with online college grants reform. When they were first initiated by then President Lyndon Johnson in 1965, the loan money came directly from the government, which also handled all the administration aspects of the program.
As time progressed and the administrations changed, it was decided it would save the government money if the administrative aspects were handled by banks. That turned out to not be the case when the banks started charging higher interest rates than the history of the entire program, as much as 19%. In the end more loans defaulted than ever before. Couple this with the current economic recession and the student loan program was hemorrhaging tax payer dollars.
By cutting out the banking middlemen, again returning the student loan system to the federal government, President Obama expects there will less defaults due to lowered interest rates. In addition, the profits generated from these loans can be plowed back into increasing the Pell grant and related financial aid programs. The Pell might actually jump from a $5,350 to a $6,000 ceiling in about one year.
That isn’t all the President will do with the savings, either. He announced a portion of money saved will go to online and community colleges. This is because these schools simply cost as much as 60% less than the bigger universities. If the community college has an online division, that’s even better. All the school has to prove is it is an accredited Title IV institution.
“For a long time, our student loan system has worked for banks and financial institutions,” Obama said that day. “Today, we’re finally making our student loan system work for students and our families…we can rightly say the foundation on which America’s future will be built is stronger than it was one year ago.
As the rules for lending, scholarships and college grants and scholarships are changing, all avenues should be explored. Find out what is available with online college grants and see if corporate sponsorship, private grants, or other means are compatible with your needs. Don’t overlook grants and scholarships, a backbone of financial aid for those who qualify.
Employers May Have Programs To Finance Your Education!
Jul 28th
When people think of a McDonald’s employee, they usually think of a person who either is using this type of job as entry to the work field or who is doomed to perpetual limbo asking if customers want fries with their burgers. Actually, the land of the Golden Arches also offers a program it calls the McDonald’s USA National Employee Scholarship Program. Employees who have worked for them for only four months can get anywhere from $2,500 to $5,000 a year in college grants, online or on campus. The only other proviso is that the person continue working there 15 hours a week. While this type of scholarship is for those who work for that company, other types, such as Pell grants for college, are not that job-specific.
What many don’t realize is that college financial aid could come from a place of employment. Many companies see this as a great way to develop a high quality pool for future management. While $5,000 may not pay a full year’s tuition, it certainly helps considerably. As such, all prospective students should also fill out their FASFA forms and apply for a Pell and any other academic grant they can find. If you need more information about graduate school scholarships, look on the internet.
Companies give employees an academic boost, which is something the web site College For Katie details. Those considering an online degree should talk with their company to see if they have any of the following:
Direct Pay Tuition Assistance: The most direct of the forms of financial assistance. The employer pays up front for the course, certificate or degree program. The employee has no out of pocket expense. One could say this is as pure a form of financial aid outside of government grants and academic scholarships as is possible.
Reimbursed Tuition Assistance: In a way it’s a form of loan. The employer pays for the course, certificate or degree program after the employee has successfully completed the program. The employer may pay after each course or only after the certificate or degree is completed. Payment must be done out of the student’s pocket, and the refund could also be tied to grade point average. There is an abundance of information about online college grants on the web.
529 College Savings Program: Allusions towards a form of savings program is fairly accurate. As part of an employer’s pay contract, they offer a college savings program. The employer may match contributions made by the employee into the program. Parents in particular should think about this.
On the Job Training: A form of work study where the employee advances his/her education while working. Many employers have developed comprehensive training programs that mix classroom and working. Some employers have arranged with online and local community colleges to provide credit for the completion of such programs.
If you are currently working, in addition to exploring college grants for college, you should see what your employer offers. Talking with your employer will let you know if money for college is available or if you need to go outside the company for such assistance as student loans. Consulting with a college advisor can also provide more information sources.
Scholarships And Grants Await Those Who Want To Further Their Education!
Jun 24th
So you’re a bright young high school student with ambitions to be a scientist or enter into some other technological profession. Your grades make you a top candidate. At the same time, you’ll be in over your head in student loans before graduating. You’ve heard about Pell grants and state aid, but may be wondering what other sources of financial aid are out there.
The U.S. is indeed suffering from a shortage in just about every aspect of the technological professions. It’s been said that the measure of a nation is based on the number of people in technology it can support. Colleges – both online and on campus – are receiving a lot more financial aid to produce more Bachelors of Science. Others, from public corporations to private societies, have also signed up with grants, if only because they realize their own survival is dependent on it. If you need more information about pell grant, look on the internet.
A student looking for this financial aid should first and foremost go to the schools of his choice and quickly sit down with a financial aid officer. This person’s job is to get the student the cash needed to pay for such things as tuition, fees, text books and even living expenses. This doesn’t mean the young acolyte shouldn’t do his or her own homework. A quick scan of Google or any other search engine will show there are a number of sources they might never have heard of. These sources include:
(1) Pell Grant – At the moment, this federal grant is capable of supplying up to $5,350, although that might be going up to $5,900 by 2011. All that is required is filling out a FASFA form, and then wait for response. Don’t forget the state you reside in. That’s what most state lotteries are supposed to finance.
(2) S-STEM Scholarship – This program was created by the Federal government specifically to help students get their Associate’s, Bachelors and even their Masters of Science degree. As of 2009, it awards one hundred students anywhere from $100,000 to $600,000, based on both academics and need. To find out more about this program, one should contact the National Science Foundation or the web site Grants.gov. There is an abundance of information about college grant on the web.
(3) Corporate Scholarships – Many technological and similar corporations find it in their best interest, both for tax reasons and as a source for recruiting, to set up scholarship funds. This includes companies such as Microsoft, which has its own scholarship/work-study program for computer engineers, to Mobil Oil, where there is a very high demand need for petroleum engineers.
(4) Professional Organizations: Every profession comes with its own society or other form of professional organization. In turn, these organizations almost always have some sort of educational financial aid program. It’s a good way of maintaining the ranks. As it happens, engineering has virtually dozens of them. Some of them include the National Society of Professional Engineers and the American Society of Civil Engineers, which even has a few web pages on continuing online education, or as they call it, “distance learning”.
In total, with a little work, a student can find more than enough leads, such as Pell grants, for financial assistance. With a bit of patience and persistence, getting the needed financial aid is obtainable.