Latest News: Financial Aid
Tuition paid in ones
In a YouTube video Nicolaus Ramos, a U of Colorado student from Sacramento, explains why he paid his $14,309 tuition bill with 30 pounds of one-dollar bills.
-YouTube
Tuesday, January 18, 2011
Heading off the college tab
Ken Clark, author of "The Complete Idiot's Guide to Paying for College", reduces how to pay for college to one simple rule: "Plan on putting away $75 per kid per month from the day they're born, and that will get you four years at a state school."
-baltimoresun.com
Thursday, January 13, 2011
Prepaid cost increases, sales decrease
Florida Prepaid's cost of a 4-year all-inclusive university plan is now $45,367 for a newborn. The high price has impacted sales. For 2010-11 sales are down about 70% from the previous year.
-Orlando Sentinel
Wednesday, January 12, 2011
Presidents plot push for aid changes
A group of college presidents and financial aid experts from independent colleges have high hopes of remaking the financial aid landscape. They aim to stop higher ed from hurtling down its current path of giving ever-increasing amounts of financial aid to academically talented (but not necessarily financially needy) students.
-Inside Higher Ed
Friday, January 07, 2011
Illegal lobbying charge rejected
ED officials did not engage in illegal lobbying in 2009 when they encouraged higher education leaders to publicly endorse legislation that overhauled the student loan programs, the agency's inspector general reported in response to accusations made by Republican Congressional leader
-Inside Higher Ed
Tuesday, January 04, 2011
Republicans take aim at Pell Grants
The new House Republican majority is expected to focus on cutting spending. One sure budget target will be Pell Grants for middle-income college students. Even if the House passes a spending cut bill, there's no guarantee the Senate would send it to Mr. Obama, and the president isn't expected to sign any legislation that would gut his programs.
-Wall Street Journal
Monday, January 03, 2011
Cuomo settlements pay for student loan center
Andrew Cuomo tied up a loose end from his investigation of the student loan industry by using settlements collected from colleges and student loans companies to finance unbiased help for young borrowers and their parents navigating the complexities of the college lending process. New York's HESC and NYPIRG will administer the program.
-New York Times
Monday, January 03, 2011
Federal lobbying counterattack
For-profit colleges and the Assn of Private Sector Colleges and U's hired 6 former members of Congress as lobbyists in 2009. The industry more than doubled lobbying expenditures trying to beat back regulations proposed by ED that would threaten their access to federal student aid.
-Chronicle of Higher Education
Thursday, December 30, 2010
SLC sale to Discover and Sallie Mae approved
Student Loan Corp stockholders approved the sale of the company to Discover. The agreement also sells assets to Sallie Mae. The parties expect that the merger will be completed by year-end.
-Stamford Advocate
Thursday, December 30, 2010
For-Profit stock plunge makes Sperling rail at Obama
Apollo founder, John Sperling, is fighting to defend his creation. As his Apollo common stock plummeted by about $300 million this year, he traveled to Washington twice to see Harry Reid and other legislative leaders. Apollo shares traded as high as $89.22 before Obama’s inauguration. Apollo has since declined 57%, compared with a 48% rise in the S & P 500 index, because of ED proposals to limit for-profit recruiting and access to federal financial aid.
-Bloomberg
Wednesday, December 29, 2010
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