Category: Financial Aid News

President Obama’s College Affordability Plan

Posted on August 24th, 2013

In his recent trip to nearby Buffalo, Syracuse, and Binghamton, President Obama revealed his new plan to make college more affordable.

This handy infographic from the White House explains the major reforms and initiatives the President hopes to advance in order to hold colleges accountable for providing a quality education, encourage schools to use technology to cut costs, and make it easier for borrowers to repay their student loans.

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President Obama unveils plan on college affordability

Posted on August 22nd, 2013

"Whether we're talking about a 2-year program, a 4-year program, a technical certificate, the bottom line is that higher education cannot be a luxury. It's an economic imperative. Every American family should be able to afford to get it." -- President Obama

In his visit to Western New York today, President Obama unveiled a series of higher education reforms aimed at making college more affordable. A new way of ranking colleges His ideas include creating a new rating system for colleges that would judge schools on measures like tuition, graduation rates, debt and earnings of graduates, and […]

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Want to get paid to graduate college?

Posted on August 8th, 2013

"We shouldn’t view financial aid simply as an entitlement. I believe that it is reasonable to think of financial aid to some degree as a social contract between the state and the student. The state is saying we are investing in you because not only is it important to you, but it is important to the state." -- Richard Freeland, Massachusetts commissioner of higher education

In Indiana, it’s possible. We’ve already emphasized the importance of graduating college in terms of future success and earning potential. Now, states like Indiana have started taking a stake in their students’ futures–by setting benchmarks for completing college credits in order to receive state financial aid. This recent article from the Hechinger Report highlights new programs in […]

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House passes student loan interest rate fix

Posted on August 5th, 2013

"Although this legislation is far from perfect, it a step that must be taken in order to provide financial relief to American students and their families." -- Rep. Tim Bishop (D-NY)

On Wednesday, July 31, 2013, the U.S. House of Representatives gave final passage to a compromised bill for student loan interest rates and the president is expected to sign. For new student loans made since July 1, 2013, the new rates for this year will be: 3.86 percent for undergraduate Stafford subsidized and unsubsidized loans […]

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Senators (finally) reach deal on student loan rates

Posted on July 18th, 2013

The good news? The government has finally come to an agreement on student loan interest rates and agreed to lower rates through the 2015 academic year.

The bad news?After 2015, rates would likely climb higher than they were this past spring.

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Student loan vote fails Senate again, sticking borrowers with higher rates

Posted on July 10th, 2013

Today, the Senate failed once again to implement a one-year, retroactive fix that would keep rates at 3.4 percent on federal subsidized Stafford loans made from July 1, 2013, to June 30, 2014. Lawmakers have been debating various proposals to lower student rates but have neglected to come to an agreement.

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Federal student loan interest rates have doubled–here’s what it means for you

Posted on July 2nd, 2013

July 1 has come and gone. If you’ve been following along with the news, you know that that means the interest rates on new federal subsidized Stafford loans jumped from 3.4% to 6.8%.

Watch this video to find out what it means for the 7 million students who will take out a federal student loan this year and how it could negatively impact the economy.

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The trillion dollar question: Reinventing student financial aid for the 21st century

Posted on July 1st, 2013

Funding for federal student aid programs was first authorized in the 1960s and 1970s and has increased dramatically to keep up with the skyrocketing costs of college. Yet, despite this increased aid, negative patterns of inequalities in college attendance, low completion rates, and high student debt continue. It’s become clear that a new approach might be needed: one that focuses on college affordability and access.

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Private colleges offering more financial aid than ever

Posted on May 17th, 2013

"Institutions are responding to students who won’t enroll unless they have some kind of incentive. Schools are foregoing more of their revenue in order to fill seats to be sensitive to families who are struggling." -- Natalie Pullaro Davis

Believe it or not, private colleges are now offering more financial aid than ever. Of course, with college costs rising, it make sense for financial aid to adjust accordingly. However, it’s not just the amount of grants and scholarships that’s increasing–it’s the percentage of the overall tuition total. According to Time Magazine, in a survey […]

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What fees are hiding in your college tuition bill?

Posted on April 1st, 2013

How closely have you examined your college bill? There’s more than just tuition, room, and board charges–many schools pack on several hidden fees, sometimes to the tune of thousands of dollars per year.

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