Monthly archive February, 2006
Tom Dillon, 19, a pre-pharmacy major at the University of Connecticut, is carrying $52,000 in student loans. And he’s just getting started. When he gets his pharmacy doctorate in four years, he expects his debt to exceed $150,000. Dillon’s been drawn to pharmacy since age 5, when he found out he had epilepsy. Source: USA Today > Keep Reading

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Categories: General
No matter whom you talk to about getting financial aid for college, the mantra’s the same: File the FAFSA. It’s not that bad. The FAFSA, or Free Application for Federal Student Aid, is a student’s ticket to many grants, scholarships, work study and loans for college. When parents are looking at an annual price tag upward of $30,000 in tuition, fees, room, board, books, travel and personal expenses for private education and nearly $20,000 for the same at a public institution for the next four or five years — not to mention the effect of future tuition hikes — any financial aid, big or small, may sound appealing. Source: Valley News Dispatch > Keep Reading

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Categories: General
The US House of Representatives recently passed a bill that cuts $2.2 billion in vital funds needed to administer federal student loan programs. The bill also outlines several other measures that will impact college students and their families, including caps on Pell Grant awards. The Pell Grant is the largest grant program which is awarded to undergraduate students and based upon financial need. Many students from a low income background would not be able to attend college without the Pell Grant awards. The grant awards vary in amount from $400 to $4,050 per student. Currently the maximum Pell Grant a student can receive is $4,050 per year. Despite the usual cost of living and inflation increases congress has decided not to raise this limit for the fourth consecutive year. Initially the House had promised to increase the maximum Pell Grants for low-income students by $100. Tom Kiley, spokesman for Rep. George Miller (D-Calif.) expressed his disappointment with the bill in regard to the Pell Grants for low income students “Once again, we missed an opportunity to raise the Pell Grant,” Kiley said. “That is a glaring omission.”

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Categories: General