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Clinton's "Free" College a Bailout of a Failed System?


Aug 23, 2016

Today, going to college could cost as much as buying a new BMW every year, according to the Wall Street Journal. With ever-increasing college costs ranging between $120,000 and $200,000 (depending on the school), some politicians' higher education reforms are simply a "massive bailout wrapped in the promise of free tuition and relief from student loans." [...]

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6 months ago 4 comments

Talk is cheap when it comes to politicians' promises, but one thing that remains expensive is a college education. From vetoing a scholarships bill that would free up $721 million for community colleges and scholarships for low-income students, to killing the Senate Bill 180 which would require the New Mexico Lottery to provide $41 million to a college scholarships fund there has been no resolution to the budget stalemate since July 1, 2015. New America Higher Education has one resolution: out with the old, in with the new. That means removing federal loans, federal tuition vouchers, Pell grants, and tuition tax credits. [...]

12 months ago 27 comments Read More

What makes February so lovely? It is Financial Aid Awareness Month, and since filling out the FAFSA is stressful - much like taxes - several higher education institutions and financial aid organizations have jumped on board to provide informational sessions for families and students as they navigate through, and apply for financial aid through the 2016-2017 FAFSA. According to the National Center for Education Statistics, the percentage of students applying for, and receiving financial aid for their college education at a four-year-degree-granting institution has increased from 80% to 85% from 2007-08 to 2012-2013. Because of this, the National Association of Student Financial Aid Administrators (NASFAA) will be hosting a new topic weekly through a social media campaign that allows parents and students to ask questions about the FAFSA. To participate, NASFAA asks families to send their questions via Twitter using the hashtag #FinAidFeb to receive tips and advice, as well as the common mistakes to avoid. The social media campaign will take place on Wednesday, February 3rd from 7-8 pm ET and Friday, February 5th from 1-2 pm ET. Those interested can simply follow @NASFAA on Twitter or visit them at their website for full schedule and details.

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12 months ago 6 comments Read More

Understanding the financial aid process, much less filing a FAFSA, can be tedious and daunting. With over 130 questions and requiring more than 30 minutes to complete, students may procrastinate, or completely avoid completing a FAFSA. With pending changes for the upcoming years - such as an earlier deadline - some experts claim the process won't necessarily get easier or more affordable, if not done correctly. Terry Savage, an expert writer for the Chicago Tribune, claims the new FAFSA will be more "intrusive than federal tax forms because it not only asks about income but also the assets of parents and students." Savage outlines some tips and general information on how to prepare for the changes, including early application and knowing the logistics of 529s, financial aid, and FAFSA: [...]

14 months ago 16 comments Read More

If you've ever had to fill out a FAFSA for college, you may have felt as though you need an accounting degree to understand it, much less complete it. With over 130 questions and averaging 30 minutes to complete, the complexity and tedium of filing for financial aid has been a barrier for students in attending college or receiving the financial aid for which they qualify. The Department of Education announced an initiative Monday to simplify the process and beginning in October 2016, students and their families will be able to complete a simpler FAFSA application.

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17 months ago 12 comments Read More

Chances are if you’re on scholarships.com, you probably care about boosting your application to scholarships or colleges. The standardized test can be a huge plus for good test takers or a major stressor for others. Here are some general guidelines to help you make your testing plan and decisions easier. [...]

18 months ago 0 comments Read More

Under the Obama administration, the motto “work hard, play harder” is continually being redefined to “work hard, pay harder”. According to The Wall Street Journal, a new plan is being finalized that will allow millions of low-income Americans to slash their monthly student-debt bills, in turn raising taxpayer costs for the government’s mushrooming student-loan portfolio. This week the Education Department proposed to expand eligibility for the Pay As You Earn program, which sets borrowers’ monthly payments as a small share of their income. [...]

19 months ago 10 comments Read More

The financial aid process can be a daunting one but if you're planning on attending college any time soon, you should know that there are tons of federal student aid options available. From Pell Grants to Perkins Loans to the FAFSA, the funding is out there but your eligibility to receive aid depends on your level of need and, subsequently, how much aid you are eligible to receive. Translation: For the majority of students, loans are inevitable. But don't fret just yet because President Obama announced the Student Aid Bill of Rights initiative to help student borrowers with the challenging student loan process. [...]

23 months ago 7 comments Read More

Sure, anything Obama proposes is going to have detractors across the aisle politically. Perhaps due in part to his recent and seemingly more and more frequent use of executive action or just plain old typical partisanship, our president can scarcely do anything these days without intense scrutiny. Naturally, among the chief concerns of Obama’s opponents on the matter is the increase in taxes that would be necessitated by such action. But let’s discuss the other aspect of offering "free" college for all first. [...]

25 months ago 17 comments Read More

When it comes to paying for a college education, it seems as though students have two options: deal with impossibly high payments while they're in school or crippling debt for years afterwards. Well, Oregon students were provided a third option last year when legislators approved the Pay it Forward plan that would allow students to attend state colleges without paying tuition or taking out student loans but would instead commit a small percentage of their future incomes to repaying the state. It turns out, however, that said plan isn't the saving grace for college students afterall. [...]

31 months ago 1 comments Read More

If you're a recent college graduate, chances are you'll have to start paying off your student loans sooner than you think. And even with the economy in a slump, don't expect a free pass on not paying them back. So while keeping track of the multiple loans you've accrued during your college career is tasking, it's important to understand your options. An often overlooked possibility is private loan consolidation. Aren't familiar? Allow me to explain. [...]

33 months ago 0 comments Read More

I started looking for colleges in my junior year of high school because I was so unsure about what I wanted. Deciding on a college was a scary thought to me because I was under the impression that I was going to be stuck at whichever school I chose for four whole years. So to ease my ever-increasing stress levels, I visited my dream school (MCLA) almost seven times before accepting to attend for the fall of 2011. [...]

42 months ago 0 comments Read More
Dreamed-up in Portland Oregon and soon lauded in New Jersey, Washington, Ohio and elsewhere, the "Pay it Forward" plan could cost some folks more than simply taking out loans at 6.8%. With the plan calling for approximately $9B in start-up funds and requiring college grads to pay 3% of their income for the 24 years following graduation, only those making below a certain amount would benefit. Certainly, it would be great in the beginning and sounds easier than securing loans, but anybody looking at the big picture and planning to earn over $55K per year upon graduation should probably consider a more traditional path. As always, we recommend finding as many scholarships as possible to keep student loans to a minimum. Free money is better than either of the aforementioned [...]
42 months ago 0 comments Read More
Even community colleges across the country are increasing costs much faster than inflation, causing concern among those attempting to use what most would consider the most accessible of forms of higher education. Even with lower interest rates recently signed into law by President Obama, the costs for just about every aspect of post-secondary education continue to rise. Last year, the average cost to attend an in-state, two-year school was $3,131. That's an increase of nearly 6% over the previous year, larger than all other types of [...]
42 months ago 0 comments Read More
The new student loan bill Senator Merkley (D-Ore.) plans to introduce is a progressive idea intended to battle high loan repayment costs and hopefully restore the middle-class in the United States. The announcement of this proposal came after President Obama signed a student loan bill into law on August 9th. The new loan bill sets interest rates for undergraduate loans to the 10-year Treasury note plus 2.05% with a cap of 8.25%. While some Democrats oppose the bill as they feel Congress shouldn't "profit off the backs of students", it seems widely to be seen as an improvement over the default doubling of rates from 3.4% to a flat 6.8%. Merkley's goal is to make much bolder steps and pursue steps that more favor the middle-class and promote more affordable post-secondary education. As [...]
42 months ago 0 comments Read More

The search for good scholarships can be a task, but it doesn’t have to be hard work! When I was exploring the wide world of scholarships, I tried my best to look into ones I knew I could succeed at winning. Here are a few tips for finding your best scholarship opportunities: Search for institutional scholarships. This is always a great starting point: Go to your college or university and check out what scholarships they are offering current or accepted students. Most schools have scholarships for different majors and GPAs – all you have to do is find the one that fits you and apply! Use Scholarships.com and other scholarship search sites. Doing a search on Scholarships.com and other similar sites would put in in the right place to find scholarships that perfectly fit you. Each site contains their own scholarships, plus corporate, private and local scholarships that fit your needs. Doing this weekly will help you find the right scholarships as soon as they are posted. Check with your counselor. Stopping by your counselor’s office frequently can help you get a leg up on other students and find the scholarships that some organizations don’t post online and instead send directly to high schools. If you’re currently in college, make sure you go past your financial aid office to see what’s posted. Consider employers, not-for-profit organizations and religious institutions. Check with your employer, organizations you’re involved in and the religious institutions you attend to see if they are offering any scholarship opportunities. You’d be surprised at what is available to those in the inner circle! [...]

44 months ago 0 comments Read More

According to the Buffalo News, there has been a decrease in the amount of students who receive their undergraduate degree in four years. Fewer than half of the University at Buffalo graduates graduated in four years and many other universities have seen the same decrease in their students graduating in that once-traditional timeframe. For example, Niagara University had only 60 percent of its students graduate in four years, while Alfred University only had 43 percent of its graduates graduate in four years. These statistics aren’t just exclusive to New York State, either: I personally know students from all over who have taken an extra semester or two to graduate. [...]

44 months ago 0 comments Read More

The student librarian or the math tutor in the tutoring center at your university may be one of the thousands of students involved in the Federal Work Study program.

The U.S. Department of Education explains that the Federal Work Study program involves universities assigning college students part-time jobs in their institutions or through private employers. The income may be minimum wage or higher (it depends on the work the student is doing) and the income goes toward the students’ college expenses. For example, the recipient can have the funds go directly toward tuition or books. [...]

45 months ago 0 comments Read More

Summer classes are great for getting ahead or catching back up if you’ve fallen behind. They aren’t for everyone, though, so when deciding on extra courses for the summer, keep these factors in mind: Financial Aid: An important factor is whether or not you can financially afford to take summer classes. When I was a freshman, I was able to take two summer courses using a summer Pell grant but unfortunately, that option is no longer available. Summer financial aid is included in your fall/spring aid year so if you use your loan money in entirety during the fall and spring, then you may not have any left for summer classes. Check with your campus financial aid office to get the most current information and payment alternatives. Class Location: You do not have to live near your university or stay on campus to take a summer class. You could take a course at a nearby university while living at home – just go to your admissions office to fill out the necessary paperwork to complete this. Online classes are also always an option; there may be a price difference between online and traditional in-person courses so be sure to check that before signing up. Time Spent in Class: My university has a breakdown of three short semesters during the summer that last one month each. I took two “Maymester” classes and we were in class for almost three hours a day Monday through Thursday; I found this easy because the professors taught only the needed information without the extra projects that usually fill up a semester. Not all universities have this option so check with your advisers on the different summer class options. [...]

46 months ago 0 comments Read More

The University of Chicago has recently announced the launch of UChicago Promise, an initiative aimed at helping high school students in the city of Chicago gain admission, pay for and succeed in college. The cornerstone of the program is the commitment from the university to eliminate loans from financial aid packages of students from Chicago who are admitted. [...]

51 months ago 0 comments Read More

Recently, 22-year-old Taylor Cotter published an article on The Huffington Post about her success since she graduated from college in May. The odd thing about Cotter’s piece is that she doesn’t take the angle of a success story in a struggling economy – she feels that she should be struggling more! [...]

55 months ago 0 comments Read More
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