Financial Aid For College: Several Promising Signs
Keywords: financial aid, financial planning, college, university, education, scholarships, federal aid, grants
Benjamin Franklin once quipped that there are two certainties in life - death and taxes. But as every college student knows, life also has a third certainty - rising tuition. At most schools, tuition increases at a rate of about 3-5% per year. On average, the cost of one-year’s worth of school, including tuition, housing, transportation, and other fees, amounts to about $12,000 per year at a public school and $32,000 per year at a private school. That means that the cost of a bachelor’s degree is anywhere from $50,000 to a staggering $125,000. Still, even with the rising cost of education, there are several promising signs for college students (and their parents).
Perhaps the most widely televised indicator is the bill recently passed in Congress that will allocate more money for Pell grants. Currently, recipients of federally-funded Pell grants get $4,310 each year. The bill, which passed 78-18, would raise that amount to $5,400. The bill would also provide loan forgiveness to students who take jobs in public service following graduation and make payments for ten years.
What this means is that more Pell grant recipients - typically, the poorest college students - will get a significant boost from the federal government in the form of financial aid that does not have to be repaid. As such, these students can reduce their need for financial aid that does need to repaid - namely loans. For more information about this bill as well a subsequent bill that targets the financial aid application process and the problem of conflicted interests between banks and colleges, see “Senate Votes to Increase Grants, Loans.”
A second promising sign is the recent move by Amherst College to eliminate student loans entirely and replace them with scholarships. This move provides greater flexibility for both the school and prospective students. On the one hand, it allows Amherst to draw on a broader pool of applicants - not just the ones who can pay for school outright or who can be reasonably expected to repay loans. On the other hand, it grants students greater flexibility after graduation.
“Too often, students who graduate from college with debt feel compelled to make career choices based in part on their need to pay off their student loans,” said Tom Parker, dean of admission and financial aid. “Graduates from low- and middle-income families should have the same array of career options as graduates from upper-income families.”
In doing away with student loans, Amherst joins other notables like Princeton and Davidson, who have likewise replaced student loans with scholarships. Hopefully, the move by Amherst and others will open up a dialogue at other institutions and herald similar moves in the near future. To read more about how Amherst intends to implement (and pay for) its new program, see “Amherst Cuts Loans in College Aid.”
The third and final indicator is perhaps the most anecdotal but also the most promising of the three, at least potentially. It deals with the long-standing gripe of both students and faculty at colleges and universities around the country - namely, the price of textbooks. Well, it seems one professor has finally had enough. Ron Hammond, a sociology professor at Utah Valley State College in Orem, Utah, announced recently that he will no longer use textbooks in his courses. In “Textbook Prices Too Much, So UVSC Professor Eliminates Their Use,” Hammond said, “I think it’s immoral because of the cost of it.” Instead, he’s tailoring his classes to cover similar material by drawing on other sources, such as those available for free online, and by opting for his own tests and questions rather than those provided by the textbook.
While Hammond is only an isolated case - at least for now - he does represent a growing number of disaffected teachers who are looking for alternatives to the overpriced textbooks provided by a handful of well-established publishers. If other professors follow suit - and it is almost certain they will - publishers will need to respond or risk losing a lucrative but increasingly hostile market. If they don’t, they could see migration en masse to textbook-less courses such as those offered by Professor Hammond, leaving behind a stack of high-priced but now worthless textbooks, which would give disgruntled college students something they’ve clamored for for years - a good old-fashioned book burning.
Benjamin Welch has been a college instructor in writing and composition for nearly six years. He helps students learn how they can afford college. Read more:
www.classesandcareers.com www.classesandcareers.com
Previous Articles Highlighter:
Preparing Your House For A Quick Sale (1)
So as a house owner take care and clean the mildew before you display the house. Sometimes pets can also spread odor, you might have become accustomed to it so clean everything and deodorize the house.
How To Compare Remortgage Deals Side By Side (2)
When it comes to remortgage deals, though, part of the comparison process is deciding which TYPE of remortgage is the best one for you. The most common comparison point - the APR - isn't always the best or only way to choose which remortgage deal is right for you.
Using The Right Strategy To Sell Your Home In A Slow Market (3)
Start preparing your house for sale by cleaning it and maintaining it. Marketing can start with a 'For sale' sign because more than 10% sales come through this source even in a slow market.
Do You Need An Agent To Sell Your Home Fast? (4)
You will have to observe carefully and learn the way in which the professionals carry out this task. Would you be capable to handle people? Handling the queries and requirements of the various types of probable buyers for your house could be extremely difficult.
Who Uses Credit Cards And Why? (5)
Cash and Merchandise Rewards Many credit card UK companies run loyalty programmes that offer cash back and reward points for using your credit card. These credit cards can be a real boon IF you make a point of paying off your account monthly.
A New "Booming" Market Opportunity (6)
The new market focus of the "Send It Forward" market is being driven by the financial services industry in an attempt to develop a more personal approach to financial planning.
How Can Home Staging Services Help You To Sell Your Home Fast? (7)
.. Color psychology: Color plays a significant role in changing the attitude of people towards a house. It is essential to choose colors for your house wisely. Try to use bright colors in the bedrooms to make them appear lively.
Finding The Right Agent To Sell Your Home Fast (8)
Browse through the list to look for properties that are the same as yours and note the numbers and names of the real estate agents who are selling those properties.
Leasing Gives Providers A Way To Acquire Medical Equipment (9)
They simply lease the equipment. Why lease? It's all about cash flow. Typical leasing standards require you to put just two payments down in cash. In addition, an operating lease will allow you to write 100% of the cost of the equipment as expense on your firm's income statement.
Factoring Medical Receivables Provides Cash Flow (10)
For most doctors, maintaining their customer base isn't a problem, as most patients will follow them back into private practice. The main issue is practice management in general, and financing in particular.
Do You Give Yourself Credit? (11)
Early in our marriage, a time I refer to as B.C. - Before Credit - we paid for everything with cash or checks. Subtracting the cost of purchases from the total column in our checkbook made it easy to see our financial standing - or occasionally our financial leaning.
Money Transfer Overseas (12)
Many of these money transfer companies operate many branches and local agents worldwide. Relatives and friends can receive funds instantly and those traveling overseas can as well get money sent quickly in case they run into some crisis or money shortage.
Creating Financial Stability For Healthcare Providers (13)
4. Collections can likely be improved. When collection staff members follow up on both third party and self pay receivables, rather than just wait until they become considerably past due, days outstanding usually decrease.
Balance Transfer Credit Card Strategies (14)
An alternative approach would be to use two cards. One would be the card with the 0 APR transfer rate and the other would be another card with a 0 APR or low APR, or even a rewards program.
Comparison-Making In The New Millennium (15)
We assume that this is an indicator of their delicious taste. We hope to get greater quantities for lesser amounts of money. After all, even in our search for the best we want to get the best value for our money's worth.
The Truth About Real Estate Financing (16)
Thinking positive about your real estate financing is important but so is being realistic. Before you finish your real estate financing read every real estate contract and loan or home mortgage contract thoroughly before you sign on the dotted line; every line is important.
Enticement For Unsuspecting Customers (17)
From beauty products at bargain-basement prices to electronic goods with a whole lot of free add-ons, to discount coupons to the newest restaurants -- these are just some of the many freebies that consumers are given.
The Hedge Fund Manager Evaluation And Transparency (18)
Once little known and secretive fringe forces, they have become leading actors in reshaping the corporate world. As active investors capable of mobilizing billions of dollars of capital, these new institutions have become enormously powerful as well as impressively innovative." Here are some pointers from the 2007 State Street Hedge Fund Research Study.
Purchase Order Funding Provides Instant Cash From Invoices And Contracts (19)
From the owner's or CEO's perspective, access to purchase order funding (used either singularly or in conjunction with other sources) can literally be the key to real and sustained business success.
Preparing For Vehicular Breakdowns (20)
Women are also being targeted as a specific class that has needs that are distinct from the men of the world. Moreover, women in general are reputed to being safer as drivers than men.
Newer Articles Highlighter:
Preparing For A Home Sale In A Slow Market (1)
Your first presentation- Keep the house clutter free and try removing all your personal stuff like photographs, trophies and souvenirs. Give the buyer the freedom to feel free when he inspects the house.
Who Should Do Your Tax Return (2)
While you may have obtained a program that may calculate your tax due for you, it is important to know what to take advantage of that will benefit you, what expenses to redefine to make them deductible or how to reduce your taxes.
Deferred Student Loans - There Are Rules, You Know! (3)
From this point of view, so long as you stay enrolled in the college that you have chosen, or a similar qualifying one, you will be OK In this way, the loan is regarded as a deferred student loan.
How Can Color Psychology Help To Sell Your Home Quickly? (4)
.. Keep in mind the main use of each room while selecting interior colors for them. For example, kitchen and dining spaces are painted in certain food colors, like coffee browns, celery greens and egg yellows.
Is The Internet A Viable Source For Real Estate Leads (5)
If price is the motivating factor, reconsider your motivation as you will get a bum lead for a bum price. Another great question before getting started, can you contact other agents within the lead generation program for references?
Buying A Time Share Foreclosure: Headache Or Bargain? (6)
If done with plenty of forethought and preplanning, purchasing a time share foreclosure can be a great way to enjoy all of the benefits of a vacation property for a fraction of the cost.
How About Avoiding IRS Penalties? (7)
You might have to pay as much as 20 to 40% percent in interest depending on the amount you have over-evaluated. That is why it is necessary to show the right amount of earnings within the accounting year.
Seminars: Which One's Worth It? (8)
Generally regarded as experts in their field, Jack Canfield and Bob Proctor have lectured from Australia to the United States, Canada and Asia. So does Silva Seminars, which offer personal growth training from New York City to Germany every year.
Dental Insurance Coverage - Level Of Services Will Vary, So Choose Wisely (9)
(c) 2007 Dental Insurance Guidance. If you want to find the right cover for your dental treatment, there are lots of great value options. You can find out how, right here, on Martin Haworth's fascinating website at www.DentalInsuranceGuidance.com
Through A Microscope - Look Who's Watching Now! (Part 2 Of 3) (10)
Mel Abraham CPA, CVA, ABV, ASA, CSP - author & Adjunct Professor (USD Law School. Further, for access to an audio presentation on IRS penalties and the PPA visit www.valuationeducation.com He can be reached at mel@melabraham.com.
What Do Structured Settlement Payments And Lottery Winnings Have In Common? (11)
Keywords: Structured settlement, lottery winnings, payments, investments, common The terms mentioned above may sound quite different but don't let it fool you. Structured settlements and lottery winnings have many factors in common.
Blood-bath On Wall Street - Were You Caught ? (12)
A true investor would have spotted the problem and exited early. Gamblers tend to be speculators. Investors buy to own part of the company. When they buy a stock, they expect to hold it forever.
Leverage Land Mines (13)
Municipal Market is leveraged 36%. In a period of stable or declining interest rates we'd assume it would outperform Municipal Value, as it did. But, what if interest rates rise?
Bank Of England Notes Rise In Borrowing (14)
Commenting on the data, Simon Rubinsohn, chief economist from the Royal Institution of Chartered Surveyors (Rics) claimed the shortfall in borrowing was due to five interest rate rises over the last 12 months impacting on prospective borrowers' day-to-day finances.
Easy Steps To Developing A Debt Consolidation Solution Budget (15)
The debt consolidation solution budget should include monthly income and outgoings / items, projections of expected increases and decreases in income / wages and bills and a good amount of money as a buffer for any unexpected events.
Holidays 'Getting Britons Into Debt' (16)
Meanwhile, six per cent of those surveyed (about 2.3 million) take less than a month to make up for money owed on their holiday, with two months reported to be the average amount of time required for two per cent of consumers.
Switching From One Account To Yet Another (17)
Well, they might offer you the assistance of financial experts. They may come up with incentives for bigger and smaller businesses. Why should you shift from one current account to another?
Britons 'Looking To Further Interest Rate Increases' (18)
Figures from the financial services firm also showed that despite a fall in the rate of inflation on the consumer price index to 2.4 per cent, more Britons believe pressure on their personal finances is set to increase.
Piggy Banking For Adults (19)
Yet other lessons are learnt outside our classrooms. We learn to be less naive and a lot more careful. We learn to become more disciplined and determined. We learn the importance of being earnest.
Learn The Warning Signs And Avoid Predatory Lenders (20)
You are not provided with proper documents. Mortgage lending entails accurate documentation of all terms and conditions which are agreed upon both by the lender and you, as the borrower.
Permalink to Financial Aid For College: Several Promising Signs