Category: Financial Aid News

Colgate University eliminates loans for families making under $125k

Posted on August 14th, 2019

As a Western New York-based business, we love seeing Upstate New York colleges making positive changes — especially when it results in lower student debt.

Colgate University, a prestigious college located in Hamilton, NY, recently announced a new no-loan initiative for students with a total family income up to $125,000.

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Perkins Federal Student Loan Program Ends

Posted on October 13th, 2017

As of October 1, students can no longer take out federal Perkins Loans to help them pay for college.

The government’s oldest federal student aid program, established in 1957, ended Sept. 30, after Congress failed to extend the program. As a result, up to 500,000 eligible students at 1,500 colleges will no longer be able to take advantage of this financial aid program.

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FAFSA now available for 2018-19 school year

Posted on October 3rd, 2017

As of October 1, the Free Application for Federal Student Aid (FAFSA) is now available for families and students applying for financial aid for the 2018-19 academic year.

Current high school seniors as well as college freshmen, sophomores and juniors will need to fill out the FAFSA to receive federal financial aid for next year.

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2017-18 Excelsior Scholarship Program Deadline Approaching

Posted on July 10th, 2017

If you want to have a chance at receiving free tuition at a SUNY or CUNY college this fall through New York’s free college program, you’d better get moving.

The deadline to apply for the Excelsior Scholarship is July 21, 2017, so you must apply by then in order to be eligible.

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The college majors with the highest & lowest starting salaries [Infographic]

Posted on May 19th, 2015

With college being such a large investment, it’s important to have a good idea of how much money you’ll likely be making once you graduate.

Knowing the starting salary of your college major can help you determine your future ability to repay student loans and help you make smart decisions about paying for college.

This infographic from Forbes shows which college majors pay the most–and the least–right out of college.

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Parent PLUS loan reform reduces number of black college students

Posted on May 4th, 2015

A few years ago, the government reformed its Parent PLUS loan program and tightened credit standards for issuing loans to parents to help pay for college.

While this reform may have reduced predatory lending, it may have had an unintended negative consequence as well: reducing the number of black students in college, according to a new report from Hechinger Report.

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Students miss out on $2.9 billion for college

Posted on January 30th, 2015

While college is extremely expensive, there’s a lot of free money out there going unclaimed.

In fact, according to a new analysis by NerdScholar, U.S. high school graduates left over $2.9 billion in free federal grant money on the table last academic year.

How’d they miss out on the free money?

They didn’t fill out the Free Application for Federal Student Aid (FAFSA).

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Pell Grant payouts not keeping up with college costs

Posted on October 21st, 2014

The Federal Pell Grant program was established to help make it possible for low-income students who may have not otherwise been able to afford a college education to do so. Unlike loans, the grant does not have to be repaid, which helps reduce the burden for students who receive the grant.

As college costs have risen, the maximum federal Pell Grant has risen as well–but not nearly enough to cover the huge increase, Inside Higher Education reports.

According to a new report from the Education Trust, New America Foundation, and Young Invincibles, the Pell Grant program is failing to keep up in providing low-income students with access to a college education.

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College costs rising fastest for poor students

Posted on March 18th, 2014

"Schools are talking out of both sides of their mouths. They say that they support access, but in general they’re giving more and more of their aid to higher-income students." -- Stephen Burd

Despite claims by education leaders and politicians that they’re working to make college more affordable for low-income students, an analysis from The Hechinger Report shows the exact opposite is happening. Poor students squeezed by college tuition hikes Based on data colleges are required to report to the U.S. Department of Education, the amount lower-income and working-class students […]

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Who should get financial aid?

Posted on November 11th, 2013

"Student aid forms and formulas are so complicated that they practically serve as obstacles to success, and for some of the truly daunted, even barriers to access." -- Mark Kantrowitz

How should financial aid be given out? How can we make college more affordable? How can student loans be improved? The NY Times recently explored these questions and more in a Room for Debate column. Simplifying financial aid The higher education professionals involved in the discussion emphasized the need for creative solutions to pay for […]

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