Daily Aid 113: How to network at job events, FAFSA applications skyrocket

Student Financial Aid News

From the Chronicle:

Georgia’s public colleges can no longer afford to let entering freshmen lock in a tuition rate for four years, the state Board of Regents decided today. The regents voted unanimously to suspend the policy indefinitely, as of this fall, The Atlanta Journal-Constitution reported. The regents, meeting in Atlanta to set the higher-education system’s budget for the fiscal year that begins in July, also approved a new formula that will allow full-time tuition to rise by 25 percent this fall.

Commentary

I’m not sure which is more newsworthy, the cancellation of the fixed rate plan or the new tuition increase, which just blows me away. A 25% increase is a giant increase that I suspect many Georgia families will struggle to accommodate.

If you’re a student in Georgia, it might be a good time to start re-evaluating your financial aid options. Be hunting for scholarships aggressively, and weigh all the options for paying for college, including student loans.

From NASFAA:

Student Lending Analytics posted the following analysis of data released yesterday by the Department of Education that summarizes the number of FAFSAs filed in the first quarter of 2009. More than a million more aid applications were filed during the first quarter of 2009 compared to the first quarter of 2008 – a 20.8 percent increase. Student Lending Analytics notes that the sharp increase in the number of original FAFSAs by independent students, 31.0% vs. 14.0% for dependent students, may reflect more adults returning to school to hone or enhance their job skills.

Commentary

I think SLA overlooked that there are now more exemptions and categorizations for independent students than there were previously on the FAFSA – we added emancipated students, homeless or at risk of homelessness, and a few other changes to the definition of an independent student. That said, the overall volume increase doesn’t surprise me – if anything, it feels a little low given the state of the economy.

If you haven’t yet filed your FAFSA, it’s not too late to do so. Check out our free FAFSA guide for more details on how to get the most out of your financial aid application.

Scholarship Update

“Fostering leadership, learning and empathy between cultures was and remains the purpose of the international scholarship program.” Senator J. William Fulbright THE FULBRIGHT PROGRAM: * Is sponsored by the U.S. Department of State. * Is the largest U.S. international exchange program offering opportunities for students, scholars, and professionals to undertake international graduate study, advanced research, university teaching, and teaching in elementary and secondary schools worldwide. * Was established in 1946 by the U.S. Congress to “enable the government of the United States to increase mutual understanding between the people of the United States and the people of other countries.” * Awarded approximately six thousand grants in 2004, at a cost of more than $262 million, to U.S. students, teachers, professionals, and scholars to study, teach, lecture, and conduct research in more than 150 countries, and to their foreign counterparts to engage in similar activities in the United States. * Receives its primary source of funding through an annual appropriation from Congress to the Department of State. Participating governments and host institutions in foreign countries, and in the United States, also contribute financially through cost-sharing and indirect support, e.g., through salary supplements, tuition waivers, and university housing. This year’s deadline is May 18th, 2009.

Details and application at our free college scholarship search site.

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