FAP465: I am giving away $2,500. Find out how you can win.

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FAP465: I am giving away $2,500. Find out how you can win.

7 February 2007 1 views No Comment

FAP465: I am giving away $2,500. Find out how you can win.

Student Financial Aid News
+ From the Chronicle of Higher Education: The Bush administration has proposed increasing the limit on what college students can borrow from the federal government over their undergraduate careers by $7,500, the first such increase since 1992.
+ If the recommendation is adopted, the ceiling on what dependent undergraduate students could borrow would be raised from $23,000 to $30,500, according to a U.S. Department of Education document describing the proposal.
+ The overall borrowing limit for undergraduates who are financially independent of their parents would also increase from $23,000 to $30,500 for those relying on federally subsidized Stafford loans, and from $46,000 to $53,500 for independent students who take out both subsidized and unsubsidized Stafford loans.
+ To help reduce private student loan borrowing
+ The Nevada Millennium Scholarship Fund is being depleted too rapidly
+ Over 40,000 students have been helped through school
+ From NASFAA: “State lawmakers are wondering how to stretch the life of the Millennium Scholarship, which is credited with boosting the number of Nevada college students but is running dry,” reports The Las Vegas Sun. “Designed to help Nevada retain and support the best and brightest youth, and increase the number of Nevadans going to college, the Millennium Scholarships originally offered full tuition for high school graduates with a grade average of B or better. Since it was created in 2000, it has assisted more than 40,000 students with $125.9 million in aid. It has been funded with a share of Nevada’s tobacco industry settlement funds. But the pool is shrinking.”

Scholarship Update
+ Governor Kenny Guinn’s Millennium Scholarship
+ State of Nevada
+ $10,000 maximum award
+ GPA 3.25
+ Max 12 credits per semester
+ Detailed information at our free college student scholarship search site
+ 5 for 500
+ The first 5 people who reach 500 points beginning TODAY by the time the podcast reaches episode 500 will walk away with $500
+ New points opportunities appearing shortly!
+ Sign up today at ScholarshipPoints.com

Mail Bag
+ Keith writes in: Will Bush’s FY08 policy and budget end the FFEL Program as we know it???
+ Brian writes in: Haha, all joking aside, I like the idea you have going on here, but I need a consolidated version of your help. I have just enlisted into the U.S. Navy and leave in 8 weeks. I’m trying to get my information together to enroll in the CLRP (College Loan Repayment Program) and most of my loans are taken care of by Sallie Mae (at least that is where I find all the information on them). My problem is that it looks like only about 10% of my loan balance qualifies for CLRP, this is hardly a help considering I have a whopping 38k worth of loans and the 2 highest priniples are on ridiculous interest rates over 8%. I have 6 loans with unpaid principles and only 2 of them are Stafford loans, which are covered by CLRP, 2 are Consolidated balances and the last 2 are signature loans(these are the 2 killers with high principle balances and interests rates). Is there any way I can get more help fromt he CLRP or am I just basically stuck paying the signature loans normally? The program pays up to 65k but only certain loans qualify, what information do I need in order to keep myself in the best possible position.
+ Navy limit in CLRP is $10K
+ The Sallie Mae Signature Loan is a private student loan
+ Private student loans are ineligible for the College Loan Repayment Program
+ You can consolidate private loans – private student loan consolidation at StudentLoanConsolidator.com