- Introduction
- Featured Article: Summer of Aid 2005
- Interest Rate Updates
- Scholarship Notes
- A Word from our Sponsors
- Privacy and Subscription Information
- Back Issues
- Sponsor this newsletter!
Welcome to the July 2005 issue of FinancialAidNews.com. We're pleased to announce that tuning into the Financial Aid News Podcast is easier than ever! Get updates about financial aid, personal finance, and plenty more on your iPod, using the podcast software of your choice, or the new iTunes 4.9 upgrade, free from Apple.com.
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Enjoy this month's newsletter!
Christopher S. Penn
Editor in Chief, The Student Financial Aid News
The Student Financial Aid News
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Quincy, MA 02169
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Featured Article: Summer of Aid 2005
July 1, 2005 is nearly here, ushering in the traditional beginning of the financial aid search for the fall semester. As such, we are pleased to present our Student Financial Aid Guide for 2005, introducing the best solutions for education financial aid available to students, families, and schools.
There are three major areas in which you can obtain financial aid for education:
- Scholarships
- Federal financial aid
- Private financial aid
1: Resources for Scholarships
Scholarships are unquestionably the best source of financial aid available, because they generally do not require any kind of repayment. Locating scholarships is time consuming, which is why an entire cottage industry of scholarship search services has appeared in the last 10 years. Here is our recommended list of scholarship resources:
- Search engines: Google, Yahoo, MSN.
- Free scholarship search: http://www.InternationalScholarships.com - 1,000 awards, $1.5 million available (approx.)
- Paid scholarship search: http://www.GotScholarships.com - 2.3 million awards, $15 billion available (approx.)
2: Resources for Federal Financial Aid
Federal financial aid is financed with your taxpayer dollars, and is available largely for need-based students, with the exception of the PLUS Loan. Federal financial aid is an excellent option due to low interest rates and relatively easy repayment terms. Here is our recommended list of federal financial aid resources:
- FAFSA forms: fill it our for free at http://www.FAFSAonline.com or get professional consultation at http://www.FAFSAapplication.com for a nominal fee.
- Stafford Loans: free application at http://www.StaffordLoan.com
- PLUS Loans: free application at http://www.ParentPLUSLoan.com or new, instant-decision free application at http://www.PLUSLoan.net
- Student loan consolidation: once you've graduated, reduce your monthly payment. Free application at http://www.TodayISave.com
3: Resources for Private Financial Aid
One of the biggest obstacles to federal financial aid is the need-based aspect. There are millions of people who aren't - by the formula created by the government - poor enough to qualify for a lot of financial aid, but not wealthy enough to cover the cost of education by themselves. This middle class of families can opt instead for private financial aid. Here is our recommended list of private financial aid resources:
- For parents of K-12 students: free application at http://www.PrivateSchoolLoan.com
- For college students: free application at http://www.AlternativeStudentLoan.com
- For graduate students: free application at http://www.GradLoans.com
- For non-traditional students: free application at http://www.DistanceLearningLoan.com
No matter what avenue of financial aid you take, the Student Loan Network is here to help you. We hope this resource guide has been helpful to you!
With the final auction of the 91-day Treasury Bill on May 31, 2005, federal student loan rates have been set for the new academic year beginning July 1, 2005. The new rates for student loans are:
Stafford Loans for students in school: 4.70%
Stafford Loans for graduates in repayment: 5.30%
Parent Loans for Undergraduate Students (PLUS): 6.10%
Perkins Loans: 5.0%
These new loan rates take effect as of July 1, 2005. Even with the new rates, consolidating your loans is still a good deal - with discounts, Stafford Loans in their grace period can lock in rates as low as 3.5% which remains reasonable in light of other current interest rates.
Consolidate today at http://www.TodayISave.com !
This month, three full-tuition graduate scholarships!
With interest rates rising across the board, it's more important than ever to have the best tools available for your search for interest-free money, and that means scholarships. 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.
If you can't find the financial aid you're looking for online, try the FinancialAidOfficer.com Scholarship Search Service at http://www.GotScholarships.com today.
Wright State University Tuition Scholarship
The Graduate Tuition Scholarship Program will identify students who are from under represented groups and are interested in Education or Human Services programs. The demographics of the professions represented by the CEHS programs indicate a critical need for minorities, especially African Americans. Women are under represented in the Educational Leadership roles, the mathematics and sciences teaching fields, and in the area of physical education. Men are under represented in early childhood education, middle childhood education and the human services fields. People with physical challanges are under represented in all of the college's majors. These populations will benefit from this scholorship program. Outstanding students with exceptional academic records, minimum of 3.5 GPA, will also be considered.
University of Texas Human Services Tuition Scholarship
Graduate Tuition Incentive Scholarships are awarded competitively each semester based upon available funding and earned grade point average. Applicants must fulfill the following criteria:
Must be seeking first master's degree.
Unconditional Admission Status
Academic Standing
a. Continuing Students must have a current graduate GPA of 3.0 or higher
b. New Students must have an overall undergraduate GPA or a 3.0 or higher
Continuing Students must have an official Program of Study on file at the Graduate Office
Texas Residents
May not be receiving any other form of financial aid (loans not included)
Students must be registered for classes prior to approval of scholarship
http://www.utbtsc.edu/human_resources/tuition-period/graduate-tuition.htm
Dayton Area Graduate Studies Institute Graduate Tuition Scholarship
The DAGSI scholarship program provides support to graduate students in engineering and computer science, with the objectives of strengthening the educational programs at the DAGSI partner institutions and benefiting local and regional industry by developing talented, highly skilled candidates for the engineering workforce. A significant percentage of the awards is earmarked for students with industry experience who study and conduct research in technologies critical to the southwest Ohio economy. The scholarships are funded by the state of Ohio, under the Ohio Board of Regents.
http://www.dagsi.org/scholarshipmain.htm
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Health insurance for Grad Students! (finally)
We have been waiting for more than a year for a great student health insurance provider for students who need health insurance in their own country of residence/origin. There's a lot of great international student health insurance out there, but until this month, we didn't know of anything for, say, US grad students in the US. Now there is. Visit www.GradInsurance.com today for the Global Citizen health insurance plan!
Study Abroad Loans!
Are you a US student who needs a loan for studying abroad? Look no further than Study Abroad Loans. We provide up to $30,000 per year for all study-abroad education expenses. Visit www.StudyAbroadLoans.com today!
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