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Showing posts with label PLUS loan. Show all posts
Showing posts with label PLUS loan. Show all posts

Tuesday, November 15, 2011

367. College Access and Success News



Here are links to recent news on college access and success.

by

Joe Rottenborn

Executive Director, Mahoning Valley College Access Program (MVCAP)





1. Read The Joe Rottenborn Daily ▸ today's top stories on college access and success via @rottenbornj ▸ http://paper.li/rottenbornj


2. 529 college savings plan a great gift, by Sandra Block – http://usat.ly/u0eHfQ via @USATODAY - "Saving for college has never been more important. Federal and state budget deficits could lead to cuts in traditional sources of financial aid, which means there's a good chance there won't be as much available when your child goes to college, says Joseph Hurley, founder of SavingforCollege.com. Meanwhile, tuition continues to increase much faster than the rate of inflation. Tuition and fees at public colleges and universities rose more than 8% this year, according to a recent report by the College Board."


3. Program helps prepare kids for kindergarten, by Bob Coupland - Tribune Chronicle - Warren, OH: http://bit.ly/vLsGOE via AddThis - "Called SPARK Ohio (Supporting Partnerships to Assure Ready Kids), the program works with families, schools and the community to ensure children's readiness and schools' readiness to receive children and families, according to its website. . . . The program is designed to help 4-year-olds increase communication, language, literacy and math skills."


4. Part 2: Answers to Your Questions on Scholarships and Student Loans, by Mark Kantrowitz: http://nyti.ms/tcJAdo - "The unsubsidized Stafford loan and the Parent PLUS loan, both federal education loans, are available without regard to financial need. Even wealthy families may qualify for these loans. The Stafford loan is a student loan while the Parent PLUS loan is, as the name suggests, a loan borrowed by parents of undergraduate students. The unsubsidized Stafford loan has a fixed 6.8 percent interest rate and the Parent PLUS loan has a fixed 7.9 percent interest rate."


5. Occupy protests focusing increasingly on student debt, by Libby A. Nelson Inside Higher Ed: http://bit.ly/vXcfBn via AddThis - “Student loan debt has been rising inexorably, and college students in the last couple of years are entering one of the worst job markets in a generation,” Kamenetz says. “There’s a real feeling of betrayal that hits a lot of people when they find out that the debt they were told was good debt is not paying off.”


6. Survey finds that counselors question effectiveness of schools, by Scott Jaschik Inside Higher Ed: http://bit.ly/spuyVP via AddThis - "In function after function that the counselors found important -- such as helping students understand the kind of preparation they would need for colleges and careers, or promoting good understanding of the college application process -- relatively few found their schools to be doing well in them."


7. Report Links College to Promising 'Career Clusters' Inside Higher Ed: http://bit.ly/tsmCx9 via AddThis - "The report argues that while there will be some jobs in the future for which only a high school diploma is required, those positions will be few and far between -- and will have limited advancement potential. The clusters in which students are likely to see the greatest number of jobs and advancement potential require a college education, the report says."


8. Georgetown U. Report on Career Clusters -- http://cew.georgetown.edu/clusters/ - "Here are several key highlights from the report:

While jobs for workers with high school diplomas are in decline, they still exist.

Jobs for middle skill workers (jobs for workers with some college, a certificate, or an Associate's degree) will make up 29 percent of the workforce by 2018.

Manufacturing will continue to decline in total employment, but retiring Baby Boomers will create 2 million job openings.

The gender gap in wages varies greatly from cluster to cluster. For example, the gap in Architecture and Construction is $2,000; in Health Science, it is $69,000."


9. Counselors See Conflicts in Carrying Out Mission, by Catherine Gewertz - http://www.edweek.org/ew/articles/2011/11/15/13counseling.h31.html?cmp=SOC-SHR-TW via @educationweek - "Nine in 10 counselors, for instance, said that two objectives should top their schools’ priority lists: ensuring that all students have access to high-quality education and that they graduate well-equipped for college and careers. But fewer than four in 10 said their schools actually operated as if those goals were central to their mission."


10. Bachelor's Degree Is Still Best Path to Middle-Class Jobs and Earnings, Report Says, by Jennifer Gonzalez - http://chronicle.com/article/Bachelors-Degree-Is-Still/129784/ - "The study also concludes that women need education beyond high school to earn the same wages as men with only a high-school diploma. For example, a man can earn $35,000 annually with a high-school diploma in the manufacturing sector, while a woman must obtain a postsecondary credential and work in health care to earn as much, the report concludes. "A woman just can't make it with only a high-school diploma," said Anthony P. Carnevale, a research professor at Georgetown who directs the Center on Education and the Workforce."


11. Research doesn’t back up key ed reforms, by Valerie Strauss - The Answer Sheet - http://www.washingtonpost.com/blogs/answer-sheet/post/research-doesnt-back-up-key-ed-reforms/2011/11/12/gIQAPRoWFN_blog.html?tid=sm_btn_twitter via @washingtonpost - "There is no solid evidence supporting many of the positions on teachers and teacher evaluation taken by some school reformers today, according to a new assessment of research on the subject. The Education Writers Association released a new brief that draws on more than 40 research studies or research syntheses, as well as interviews with scholars who work in this field."

Wednesday, May 11, 2011

253.Unstack the Odds--GO TO COLLEGE: LINKS




Unstack the Odds: Help All Kids Access College—and Graduate!

by
Joe Rottenborn
Executive Director, Mahoning Valley College Access Program (MVCAP)
20. GO TO COLLEGE: LINKS


Here are some more links to articles of interest, drawn from the Mahoning Valley College Access Program (MVCAP) blog, with the original posting number shown.


Cost (continued):


58. Shopping for Student Loans
Before a student takes out loans to pay for college, he or she and their family should investigate available options. Specifically, they should consider the kinds of loans offered as well as interest rates and repayment obligations. To become aware of these possibilities, read the blog-post by Lynn O'Shaughnessy entitled "Find the Right Student Loan" at this link: http://moneywatch.bnet.com/saving-money/blog/college-solution/find-the-right-student-loan/371/?tag=col1;blog-river


59. How Much Should a Student Borrow for College?
A question students ask in regard to college loans is "How much should I borrow?" With the hazards of loan-debt so publicized today, this is an important question to ponder. Lynn O'Shaughnessy addresses this issue in her blog-post "College Debt: Don’t Borrow More Than $27,000" at this link:http://moneywatch.bnet.com/saving-money/blog/college-solution/college-debt-dont-borrow-more-than-27000/1521/?tag=col1;blog-river


60. How Much Should Parents Borrow for College?
Even after considering all elements a student may receive in his/her financial-aid package, they may still need more money to pay for a particular college or university. In that case, parents often consider taking out loans to assist their child. However, how much parents should borrow is often not addressed. Lynn O'Shaughnessy confronts this issue in her blog-post "College Loans: How Much Should Parents Borrow?" at this link: http://moneywatch.bnet.com/saving-money/blog/college-solution/college-loans-how-much-should-parents-borrow/1510/?tag=col1;blog-river


61. Do Many Students Take Out College Loans?
Borrowing to pay college expenses is becoming a necessity for more students. The percentage of students who have college loans is growing, as Lynn O'Shaughnessy discusses in her blog-post "The Soaring Popularity of College Student Loans" at this link: http://moneywatch.bnet.com/saving-money/blog/college-solution/the-soaring-popularity-of-college-student-loans/545/?tag=col1;blog-river


62. Discounts for College Tuition
Many private colleges and universities give students a cut in the price they must pay to attend. This practice, called "discounting," comes through the financial-aid package granted--which may amount to several thousand dollars and can enable a student to afford that school. The extent of these discounts and reasons for them are addressed by Lynn O'Shaughnessy in her blog-post "College Tuition: Schools Cutting Prices at Historic Levels" at this link:http://moneywatch.bnet.com/saving-money/blog/college-solution/college-tuition-schools-cutting-prices-at-historic-levels/1905/?tag=col1;blog-river


63. Unusual Scholarships
From time to time, you'll hear someone say this: "There are lots of scholarships out there!" Unfortunately, many of them stay out there--rather than in some student's pocket. Nonetheless, there do exist scholarships that are, in fact, awarded for unusual reasons--sometimes, unrelated to academics. Jilian Mincer wrote in The Wall Street Journal of April 16, 2010, about such scholarships in an article entitled "If You're a Tall Vegan Named Zolp, Your Tuition Worries Are Over." You can read her account at this link: http://online.wsj.com/article/SB10001424052702304198004575172073856320424.html?KEYWORDS=If+you%27re+a+tall+vegan+named+zolp


64. Who Borrows the Most?
Borrowing for college is an important issue today, as student loan-debt increases--sometimes to scary levels. To read a report by Sandy Baum and Patricia Steele for The College Board entitled "Who Borrows Most? Bachelor's Degree Recipients with High Levels of Student Debt," click this link:http://advocacy.collegeboard.org/sites/default/files/Trends-Who-Borrows-Most-Brief.pdf




69. Government or Private Loans?
Students and their parents who need to borrow to pay for college should research their options for loans--specifically, whether they are better off taking out federal student loans or private loans. More than simply interest rates and terms of repayment are involved in this consideration. To see some comparisons between government and private loans, read the post by Sandra Block on May 4, 2010, in USA Today at this link:http://www.usatoday.com/money/perfi/columnist/block/2010-05-04-yourmoney04_ST_N.htm?loc=interstitialskip


71. Still Need Money For College?
If you're still seeking money to pay for college, read Kim Clark's "11 Steps to Raise Last-Minute Cash for College," posted April 29, 2010, at the US News & World Report online site; just click this link:http://www.usnews.com/articles/education/paying-for-college/2010/04/29/11-steps-to-raise-last-minute-cash-for-college.html


73. Plan B
Sometimes, a student's college plans fall through--because of finances, an emergency in their family, or other reasons. Then, he or she needs a Plan B--to still attend college, though under different circumstances, perhaps, than they had previously envisioned. If that's your situation, you may be interested in reading the May 6, 2010, post "When college dream derails, time for Plan B," by William Hageman in the Chicago Tribune, at this link: http://www.kansascity.com/2010/05/05/1927547/when-college-dream-derails-time.html#ixzz0nGnv7O3M


78. Interest Rates Vary for Private Student Loans!
Students--and their parents--often have to borrow money to pay for college. Despite taking out all federal student loans for which they qualify, some still consider private student loans. To get the best (lowest) rates of interest on these loans, shop around! In a blog-post, dated 5/14/10, Lynn O'Shaughnessy states: "The interest rates that lenders offer on private student loans are wildly different even for borrowers with the same credit scores." To read her entire post, click this link:http://moneywatch.bnet.com/saving-money/blog/college-solution/private-student-loans-the-good-bad-and-ugly/2078/?tag=col1;blog-river


80. How to Get More Financial Aid
Perhaps the most frequent question students and parents ask about paying for college is "Do you know of any scholarships out there?" What they're really wondering is how can I get more--and pay less--to attend college. Financial aid can help. But to maximize a student's financial-aid package, some tips may be useful. Jane J. Kim wrote an article in The Wall Street Journal on May 22-23, 2010, that offers such advice; you can access it at this link:http://online.wsj.com/article/SB10001424052748703612804575222303415618316.html


81. Athletic Scholarships Can Be Revoked.
What many student-athletes and their parents often don't realize is that Division I "full-ride" scholarships can be revoked after one year. This revocation can cause students to have to "walk on"--or, if they decide to, transfer to another institution. For more information, click this link to an article by Alan Scher Zagier on The Huffington Post: http://www.huffingtonpost.com/2010/05/24/revoked-scholarships-surp_n_586854.html


If you accept federal student loans, you're obligated to repay them--whether you graduate from college or not. Consequently, you should limit the amout of loan-debt you acquire. For information on repaying your federal loans, see this article, dated May 25, 2010, by Sandra Block in USA Today, at this link: http://www.usatoday.com/money/perfi/columnist/block/2010-05-25-yourmoney25_ST_N.htm?loc=interstitialskip


84. Sticker Price vs. Net Cost of a College
Often, students and parents are scared off from applying to a particular college or university because it seems high-priced. Rather than focusing on the stated "sticker price," however, a prospective applicant needs to determine their own "net cost"--that is, what they would have to pay after all financial aid for which they are eligible has been deducted from the published cost of attendance (i.e., "sticker price"). To read Lynn O'Shaughnessy's post on this issue, click this link to her blog:http://moneywatch.bnet.com/saving-money/blog/college-solution/biggest-financial-aid-myth-i-cant-afford-this-college/2143/?tag=col1;blog-river


85. Federal Direct Loan Program
The Health Care and Education Reconciliation Act of 2010, which takes effect July 1, 2010, requires that all federal student loans be offered through direct lending rather than from private lenders. Government fees previously paid to lending banks are to be used to expand the federal Pell Grant program, raising the full grant-award to an estimated $5,975 by 2017. To read an explanatory article, dated May 26, 2010, by Caralee Adams in Education Week, click this link:http://www.edweek.org/ew/articles/2010/05/26/33college.h29.html?tkn=UXUFeF%2Bl%2BNo%2BoNZRjwa8Sz4pGgHC6QMrLm8o&cmp=clp-edweek


86. Who is to Blame for Student Loan-Debt?
When a student graduates from college with a huge loan-debt, people may ask: "Who is to blame?" You can decide responsibility after reading this case study by Ron Lieber in The New York Times of May 29, 2010, at this link:http://www.nytimes.com/2010/05/29/your-money/student-loans/29money.html?hpw


97. New Rules on Federal Student Loans
Effective July 1, 2010, new rules go into effect for those taking out federal student loans. Now, only the U.S. Dept. of Education will offer these loans. In addition, interest for subsidized Stafford loans will decrease to fixed rate of 4.5% for undergraduates. The federal Parent Loan for Undergraduate Students (PLUS) will have a fixed rate of 7.9%. For other information on these loan changes, see the article "Student Loans Get a Makeover," by Jane J. Kim in The Wall Street Journal of July 3-4, 2010, at this link: http://online.wsj.com/article/SB10001424052748704334604575338883122321008.html
98. Yearly Cost of College Per Student


The cost per year to educate a college student can be expensive. And that cost varies, depending on the type of educational institution. For example, U.S. community colleges spend almost $10,000 per year, while private research universities spend $35,000 per year; the average cost in the United States is about $19,000 per student. For these and other data, see the article "Share of College Budgets For Recreation Is Rising," by Sam Dillon in The New York Times of July 10, 2010, at this link:http://www.nytimes.com/2010/07/10/education/10education.html?ref=tuition



Tuesday, July 6, 2010

97. New Rules on Federal Student Loans

Effective July 1, 2010, new rules go into effect for those taking out federal student loans. Now, only the U.S. Dept. of Education will offer these loans. In addition, interest for subsidized Stafford loans will decrease to fixed rate of 4.5% for undergraduates. The federal Parent Loan for Undergraduate Students (PLUS) will have a fixed rate of 7.9%. For other information on these loan changes, see the article "Student Loans Get a Makeover," by Jane J. Kim in The Wall Street Journal of July 3-4, 2010, at this link:

http://online.wsj.com/article/SB10001424052748704334604575338883122321008.html

Tuesday, May 4, 2010

69. Government or Private Loans?

Students and their parents who need to borrow to pay for college should research their options for loans--specifically, whether they are better off taking out federal student loans or private loans. More than simply interest rates and terms of repayment are involved in this consideration. To see some comparisons between government and private loans, read the post by Sandra Block on May 4, 2010, in USA Today at this link:

http://www.usatoday.com/money/perfi/columnist/block/2010-05-04-yourmoney04_ST_N.htm?loc=interstitialskip

Friday, April 16, 2010

60. How Much Should Parents Borrow for College?

Even after considering all elements a student may receive in his/her financial-aid package, they may still need more money to pay for a particular college or university. In that case, parents often consider taking out loans to assist their child. However, how much parents should borrow is often not addressed. Lynn O'Shaughnessy confronts this issue in her blog-post "College Loans: How Much Should Parents Borrow?" at this link:

http://moneywatch.bnet.com/saving-money/blog/college-solution/college-loans-how-much-should-parents-borrow/1510/?tag=col1;blog-river