Student Financial Aid News

There’s no shortage of opportunities to make unwise financial choices in this lifetime, and First Premier Bank of South Dakota appears to be adding its contribution with a credit card that has an interest rate of 79.9%.

You read that correctly. Seventy nine point nine percent.

Be absolutely sure to read the fine print, folks, whenever you get any kind of credit offer, whether it’s regular or student credit cards, student loans, or other financial services. Never, ever sign up for something without fully understanding what you’re signing for.

Other credit card issuers are cranking up the interest rates as well. Make sure you’re opening your postal and email, as you may get only one notice of a massive interest rate change.

As always, the smart thing to do is not to borrow if you don’t have to, and borrow from the lowest interest rate options available. These days, as more financial institutions exhibit strain (the FDIC closed bank #106 for the year on Friday), more institutions looking to rescue profits will do so at your expense.

Scholarship Update

The philosophy of the NBA Scholarship Program differs from traditional scholarship programs in that NBA Scholarships will be awarded to students who possess academic credentials in the average to above-average range. In general, average and above-average academic credentials are, for high school seniors, those that rank a student in the top third of the senior class but not in the top 10 percent. Standardized test scores should range, for the ACT Composite, from 18 to 26, or, for the SAT, combined Verbal and Math, from 850 to 1170. Students enrolled in college should present college GPAs that range from 2.50 to 3.50 on a 4.00 scale, in addition to the proper high school credentials.

Details at our free college scholarship search site.

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