Daily Aid 39: Twitter scholarship, no bailout for student loans yet
Student Financial Aid News
From Bloomberg:
The Bush administration told congressional aides it won’t ask lawmakers to release $350 billion remaining as part of the $700 billion U.S. financial- rescue package, people familiar with the matter said.
The administration of President George W. Bush ends in less than 10 weeks, and a delay in submitting a request to lawmakers would leave it to President-elect Barack Obama to tap remaining funds in the bailout fund.
Commentary
For those hoping or waiting for bailout funds for …

FAP884: Online degrees, cost of college, free stuff challenge
Click here to download the MP3 file
Weekly Financial Aid Roundup
This week we talked online degrees with Adrian Marrullier. Go listen!
Kim Clark had a great piece on the value of a college degree.
We also talked about the CSS profile in depth with feedback from two financial aid administrators.
A reporter asked this week about President Obama’s education plans. The short version that we know of is tax credits for community service, combined with increased focus on the Federal Direct Student Loan Program, along with …

Daily Aid 34: The value of a college degree, FAFSA EFC
Student Financial Aid News
Kim Clark from US News sent over her new article on the cost of college and what a degree is really worth:
As the price of a college degree continues to rise, there’s growing evidence that the monetary payoff isn’t quite as big as often advertised. The best estimate now is that a college degree is worth about $300,000 in today’s dollars—nowhere near the $1 million figure that is often quoted.
“That $1 million number has driven me crazy!” …

Voting has begun for the 2008 Presidential Election. Some scenes from the polls follow,
Long lines started early in the morning, around 6:30 AM:

By the time polls opened, lines were out the door:

Old school voting booths:

The ballot:

The machine that records your vote:

Putting the ballot in:

Young and old, rich and poor, every race and class voting:

The lines get much, much longer:

Really long:

I wonder who this plumber voted for:

No matter what your politics, please make sure you vote at every opportunity.

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I don’t care who you vote for, just that you vote. Go vote today!
And don’t forget once you’ve voted to go get a free cup of coffee at Starbucks.

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Reminders
+ Financial Aid Podcast Show Notes at FinancialAidNews.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Free college scholarships contests!
+ Stafford …

From NCHELP:
In response to the continued tightening of the private student loan market, Senator Charles Schumer (D-NY) yesterday unveiled his four-pronged plan “to protect students and families who struggle to pay for college.”
“We need to build an impermeable wall around the student loan market to protect our kids from this financial crisis,” Schumer said. “With all types of credit tightening up, we need to ensure that families and students can get the loans they need to pay for college. If even one high school grad has to forgo college because …

FAP877: Wishful Presidential Address on the Economy
After a rough ride on the markets, I thought a friendly voice might help a little, and in good fun, this is what I wish our politicians would say but probably won’t.
Click the play button to listen now:
[audio:http://media.libsyn.com/media/financialaidpodcast/20080929.mp3″>MP3 file
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Good evening, my fellow Americans and everyone else tuning in, too. Today was a historic day for several reasons. First, your Congress, for the moment, listened to you when you said no to corporate welfare, no to the big bank bailout of 2008. There was an …

I had the opportunity to discuss student loans and student lending, AIG, Lehman Brothers, Merrill Lynch, and explain the credit crisis on Talk Radio News, going into detail about credit default swaps, subprime, Alt-A, and leverage. Thanks to Dan Patterson, TRN and ABC correspondent, for the interview.
Click here to download the MP3 file
Direct file download: MP3 file

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As we commemorate 9/11 today and remember all that has happened since that day 7 years ago, I thought I’d do something different in terms of commentary on the day and highlight the economic impact of the day. I’d urge you to read the Congressional Research Service’s Economic Effects of 9/11 white paper. It’s a bit dense, economically, but provides some retrospective on the government’s actions.
Putting aside the wars overseas and their significant costs, the 9/11 attackers also caused our government to act recklessly with regard to our financial policies. …

FAP857: 1,587 free songs, Massachusetts student loans
Click here to download the MP3 file
Student Financial Aid News
+ NECN: Treasurer Timothy Cahill said Thursday he would not yield to Gov. Deval Patrick’s request to invest $50 million in state pension funds for bonds that would be sold to provide private student loans to cash-strapped college students.
+ Speaking in his capacity as chairman of the Pension Reserves Investment Management Board, Cahill said making such a direct investment for social reasons and not financial ones would set a bad precedent.
+ Instead, the treasurer said …