- Introduction
- Featured Sponsor: Alternative Student Loans
- Featured Sponsor: FAFSA Application Professional Preparation Services
- Featured Article: Tuition Increases in 2005
- Scholarship Notes
- A Word from our Sponsors
- Privacy and Subscription Information
- Back Issues
- Sponsor this newsletter!
Welcome to the December 2004 issue of FinancialAidNews.com. This month, we celebrate the holiday season and look towards 2005. It's hard to believe that 2004 has come and gone so quickly, but it's been a really wonderful year for the most part, and we thank you for joining us and being part of the Edvisors Network family.
Have you visited FinancialAidNews.com? The Student Financial Aid News web site provides you with the back issues of Financial Aid News, so that if you missed an issue or your email address unexpectedly changed, you'll still get to read the articles you need. As always, please share The Financial Aid News with your friends, family, and colleagues, by simply forwarding this message, or letting them know to subscribe by visiting www.FinancialAidNews.com today!
Enjoy this month's newsletter!
The Financial Aid News
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Featured Sponsor: Alternative Student Loans
Spend this holiday season free of financial worries about tuition by getting an alternative student loan from AlternativeStudentLoan.com. You can apply for up to $30,000 per year for undergraduate, graduate, and continuing education students (with good credit and a qualified co-signer), enough to bridge the gap between federal aid and tuition. Best of all, there's no need to deal with all the paperwork of the FAFSA or other financial aid forms. Visit http://www.AlternativeStudentLoan.com today or call (866) 301-3637!
Featured Sponsor: FAFSA Application Professional Preparation Services
More than 70% of all forms filed each year contain one or more errors that disqualify students from receiving the financial aid they deserve. Our professional preparation services ensure that at least two financial aid professionals inspect each application so that you get all the financial aid you deserve. For a nominal consultation fee, get your FAFSA tuned up! Visit http://www.FAFSAapplication.com today!
Featured Article: Tuition Increases in 2005
As the New Year approaches, many students, parents, and families begin to wonder about increases in education expenses in 2005, and rightly so. On average, students witnessed an increase between 6% and 14% in overall education costs in 2004, and initial projections expect similar increases in 2005, with students at public and state-run schools to be hit the hardest, due to reduced federal funding for schools.
At Northeastern University in the heart of Boston, tuition, room & board, and fees hit $36,946 per student in 2004; at 7% increases, expect Northeastern University cost of education to rise to $39,532 for 2005 - an increase of $2,586 and change. For 2006, assuming the same 7% increase, the increase alone ($2,767) will exceed the total amount of Subsidized Stafford Loan proceeds available to incoming freshmen ($2,625).
Michael MacDonald, a student loan counselor at the Student Loan Network, commented, "The year after year increases in tuition can't possibly be sustainable. At some point, college will be too expensive for everyone except Donald Trump and Bill Gates. If these increases continue, in another 15 years, it will cost a family more than $100,000 a year for a student to attend Northeastern University."
With tuition ever increasing, families need additional solutions to help keep college affordable. Here's a quick rundown of options for finding education finance assistance.
- Savings and assets. Your savings and assets are the front lines in the battle for financial aid. Make sure that you've depleted them as much as possible in order to qualify for the maximum amount of federal aid when you fill out your FAFSA.
- Family. Your family may be a helpful source of income or at the least, co-signers on student loans.
- Scholarships. Scholarships are free money, pure and simple. It's to your advantage to apply for as many as you qualify for, at the federal, state, local, and private levels. You can find more information about scholarships below in our Scholarship Notes section.
- Loans. Federal and private student loans can be used to bridge the gap between college tuition and money you have on hand. Federal student loans have the lowest interest rates but don't offer much in the way of quantity, while private student loans have slightly higher rates but can fully fund tuition in most cases.
- Consumer credit. When you've got nothing else, turn to consumer credit like equity loans and credit cards. With high interest rates and no tax deductions for educational use, these sources of funds are the least attractive.
No matter what avenue you choose, student financial aid is becoming tighter and tighter, so it's important to use as many of your options as you can. Good luck from everyone at FinancialAidNews.com in 2005!
Scholarship season is just around the corner! That's right, January 1, 2005 heralds the commencement of two very important season - FAFSA season and scholarship season. Many scholarships begin accepting applications in the new calendar year, so it's more important than ever to have the best tools available for your search. That includes free solutions like Google and premium solutions like Financial Aid Officer's Scholarship Search. For a nominal fee, you get access to an ever-increasing database of scholarship awards, more than 2.3 million worth $14 billion.
A few scholarships worth noting:
Nash Castro Scholarships for 2005. This scholarship award sponsored by the Palisades Nature Association (PNA), in the amount of $750, is to be applied toward the total cost of environmental studies. It may be used for courses at colleges, universities, museums, zoos, Audubon camps, and other accredited institutions of the recipient's choice and upon approval of the directors of PNA.
NMSS Scholarship 2005. The National Multiple Sclerosis Society offers a scholarship program for people with MS or their children who are pursuing a post secondary education. The program is based on financial need, academic record and a personal essay discussing the impact of MS in their lives. Each scholarship ranges from $1,000 to $3,000, depending on need and is non-renewable.
Best Buy Scholarships. Best Buy Children’s Foundation grants scholarships to students who have good grades and outstanding community service. We are proud to award over $2 million in scholarships to more than 1,300 students annually. Three graduating high school seniors in each U.S. Congressional District and the District of Columbia are selected to receive a scholarship for $1,000 or $2,000.
If you can't find the financial aid you're looking for online, try the FinancialAidOfficer.com Scholarship Search Service at http://www.financialaidofficer.com/scholarship_search/ today.
And now a word from our sponsors...
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Visit http://www.Edvisors.com for more!
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