Financial Aid News 144: Connecticut Student Loan Foundation Ceases Lending

Student Financial Aid News

From the Courant:

The financially struggling Connecticut Student Loan Foundation will stop offering new federal loans because of its uncertain future. The foundation, which had been issuing about $130 million in loans a year, has been notifying colleges and guidance counselors that it can no longer act as a lender. The decision will have no effect on those who already have loans through the foundation. “The organization is in dire financial straits and may not be able to make loan disbursements,” said Mike Meotti, a member of the foundation’s board of directors. “The worst thing you can do is tell students in June or July they have a loan, but then not actually be able to make the disbursement to the college in September and January.” Connecticut students seeking federal loans will have to apply elsewhere, said Mark Valenti, the foundation’s executive director.

Commentary

The Student Loan Network remains open for business and welcomes Connecticut students looking for Stafford loans, PLUS loans, and private student loans.

On a personal note, I knew some of the folks who worked at CSLF before lending ceased. They’re great people, worked very hard to do right by students, and it’s a shame to see their organization running into so much trouble. Best wishes to all who are impacted for quick resettlement in new careers.

Scholarship Update

In 2007, Mrs Margot Auger announced her intention to partner with the Royal Institute of British Architects (RIBA) for the creation and administration of an award to a student or group of students of Architecture, in memory of her late husband, Boyd Auger.

The Scholarship, worth £5,000 in 2009, will support either:

one student or a group of students for a period of research between 6 and 12 months

or

one student for a period of international work experience between 6 and 12 months

This scholarship aims to support architectural students, graduates, academics and recently-qualified architects to produce a piece of research in the field of Architecture or to support a student undergoing a period of professional experience internationally after successful completion of Part 1 and prior to enrolling in the Part 2. In this case, applicants need to be registered with a Professional Studies Advisor from their school of Architecture or the RIBA and in offer of professional placement with an architect in the country where they will be doing their professional experience. Applications for funding architecture-related work in non-governmental organisations are also welcome.

Details at our free college scholarship search site.

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