FAP631: Free stuff Friday for the iPhone, Sallie Mae, Dollars, Natives of the New Dawn

Student Financial Aid News
+ NYTimes: The consortium that had agreed to buy Sallie Mae for $25 billion plans to return to the negotiating table and seek a lower price, people close to the group said yesterday. If the group fails, it may move to scuttle the deal.
+ The buyers — the private equity firms J. C. Flowers & Company and Friedman Fleischer & Lowe, as well as two banks, JPMorgan Chase and Bank of America — met Tuesday to discuss the best way to pressure Sallie Mae into accepting a lower price, these people said.
+ While the group is hoping to renegotiate the price of Sallie Mae, these people said, it may also be willing to walk away and pay the $900 million breakup fee.
+ If that happened, the deal would become the biggest casualty of the tighter credit market, which persists despite the Federal Reserve’s decision on Tuesday to cut interest rates.
+ The buyers also appear to be reacting to legislation that Congress passed over the summer that would reduce subsidies to student lenders.
+ Though they have intimated threats before, the group intends to sit down with Sallie Mae’s parent, the SLM Corporation, as soon as President Bush signs the bill into law, these people said. That could be as early as this week.
+ Got Sallie Mae loans? Consolidate them with StudentLoanConsolidator.com
+ IHT: The world dumped the dollar on Thursday, pushing the greenback to an all-time low of $1.40 against the euro and to parity with the Canadian dollar for the first time in three decades as currency traders around the world digested the full implications of the U.S. Federal Reserve’s new course for interest rates.
+ Against the Canadian dollar, the currency of the largest U.S. trading partner, the dollar tumbled to one-to-one, a level not seen since the 1976, the early phase of a currency crisis that would eventually send shock waves through the global economy.
+ the U.S. economy now seems to be providing fresh evidence that a meltdown in real estate prices might jar consumers into spending less – a fear evidently shared by policymakers at the Fed. That has given a fresh impetus to traders bearish on the dollar.
+ Oil prices set another record on Thursday, reaching $82.55 a barrel in New York.
+ What does this all mean for you? Among other things, it means that being a tourist in other countries will be expensive for Americans
+ More exports, cheaper exports (more jobs)
+ More expensive imports
+ More tourists here
+ In terms of financial aid, it means that economic indicators are showing a slowing economy. As much as possible, try to minimize your borrowing (which sounds weird coming from a student loan company) and borrow in terms of lowest rates
+ Stafford federal student loans at StaffordLoan.com
+ Private student loans at ActEducationLaons.com

Scholarship Update
+ The Global Solutions Flash Movie Contest is for students, budding artists, multi-media designers, and activists who are interested in making some cool web videos. We hope their inspiring shorts will stand out in an era of ubiquitous technology, of infotainment, and of reduced attention spans, and inspire every-day people to watch, listen, learn, and take action on the global issues that they care about. Cash prizes are awarded (based on the five-person judging panel) for first place, second place, third place, and the viewer’s choice.
+ $2,000 prize
+ Deadline May of each year
+ Details at our free college scholarship search site

Free Stuff Friday
+ All iPhone/iPod Touch apps today
+ iPhone Chat
+ Google Reader
+ OneTrip shopping list
+ iTweetr
+ Gas prices
+ METAR
+ iPhone Travel
+ iActu
+ 101 cookbooks on your device
+ GoMovies movie listings
+ Cheap MF Amazon comparison shopping
+ Widgetop
+ iPhlickr
+ Lots more at iPhone Application List

Podsafe Music
+ Natives of the New Dawn, Good Day

Reminders

+ Private student loans
+ Stafford loans | Other federal student loans
+ Student loan consolidation at StudentLoanConsolidator.com
+ FAFSA tutorials and free help
+ Financial Aid Podcast Show Notes at FinancialAidNews.com.
+ The Financial Aid Podcast is a publication of the Student Loan Network.

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