Student Loan and Financial Aid Information Financial Aid and Scholarship News Inside Higher Ed - News on Student Loans and Financial AidA new bill introduced in the House of Representatives has stated that colleges and universities must police peer-to-peer activity in an attempt to stop illegal piracy or they are at risk of losing all the financial aid offered to their students.
According to the new bill, if colleges do not adhere to test “technology-based deterrents to prevent such illegal activity,” the entire student body would stand to lose federal financial aid. This type of threat has sent many colleges and universities into a panic in an attempt to comply with the new regulations. For a copy of the Bill, click here.
Student Loan Watcher @ August 19, 2008
Financial Aid, Student Loan, student loans Comments (0)
Here a video from the Early Show that gives some quick tips if you find yourself scrambling to get enough money for the 2008-09 school year. With so many companies and state lenders discontinuing both federal and private loans this year, it has grown more and more difficult to find that little extra to get you to school. Hope these tips help.
Student Loan Watcher @ August 15, 2008
Financial Aid, Student Loan, student loans Comments (0)
The more I write about student loans and financial aid, the more I realize that it is a very difficult subject for most of the people who really need to know. I realize that student loans and financial aid are not the most exciting thing in the world, but when it comes to starting your adult life in a financially sound place, it would seem that it is worth the trouble to find out as much as you can.
A branding company, Siegel & Gale, did a recent survey of about 200 parents and students and found the following misconceptions:
-Less that 50% knew that some student loans do not require a credit check on the applicant
-40% did not understand that a Pell Grant is not a loan, and does not need to be repaid
-Almost 66% had no idea that a work-study paycheck is just like any other and is subject to income tax
-25% of parents did not realize that a grant doesn’t have to be repaid
It won’t take you that long to get up to speed when it comes to financial aid. Blogs such as this one are a great place to do some research. Financial Aid officers are paid to answer your questions, so go ask them. Spending a few hours now will save you a lifetime of regret. Good Luck!
Student Loan Watcher @ July 25, 2008
Student Loan, Student Loan Comments (0)
The National Association of Student Financial Aid Administrators recently completed a salary survey of financial aid officers from around the country. The survey consists of responses from 3,179 personnel employed at roughly 1,075 colleges and universities.
Over the last 10 years, financial aid directors received a 7% increase in salary as compared with a 29.2% increase in the urban Consumer Price Index. The median salary for directors in 2007 was $62,800. A breakdown between public and private institutions showed that four year public colleges and universities paid financial aid directors an average salary of $74,110 while private universities averaged almost $13,000 less at $61,000.
Financial aid counselors made much less than directors with a median salary of $35,000 in 2007. Public colleges and universities paid the counselors on average $4,000 more than those at private institutions.
Some other information included in the survey included demographics and professional experience for those employed in financial aid offices. Approximately 73% of aid professionals have a bachelor’s degree or higher and roughly 12 years of professional experience. The career is overwhelmingly female with 80% of financial aid officers being women.
For more information on financial aid salary survey, visit the NASFAA website.
Student Loan Watcher @ July 3, 2008