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Save the Perkins!


Sep 23, 2010

The Perkins Loan Program has played a vital role in the quest for higher education (mine included) since 1958 but in two years, it could end up just as extinct as dinos and dodos. Can it (and the dreams of countless students) be saved? [...]

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78 months ago 0 comments

Hey, you. The one with the sketchpad full of doodles, memory card filled with images and computer crammed with creations. Yes, YOU. Want to score a college scholarship and help out your school at the same time? Of course you do, because in addition to being wildly talented, you’re also a good person. Here’s what you need to do to make a difference in your life (a $1,000 scholarship) and the lives of others ($5,000 for your school’s music program and 5 HP Pavilion dv6z laptops for your school’s art program) with the Make Art. Save Art. Scholarship from DoSomething.org. [...]

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Current high school and college students are probably too young to remember when MTV actually played music videos. It was a glorious time for sure but after hearing this next announcement, I think they will like the network’s new direction just fine. [...]

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Ah, the emergencies only credit card. Sounds great in theory but when a student’s cash flow is low, the term “emergency” can take on an entirely new meaning (some sweet new sneakers or a floor dinner at Chez Fancypants, perhaps?). If Mom and Dad aren’t too keen on the idea – maybe they’ve been there, done that and have the credit score to prove it – there hasn’t been much they could do to prevent their child from stopping by the student union during the first week of classes and signing up for myriad cards and repercussions…until Andrew Cuomo stepped into their corner. [...]

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Daytona State is going to do it beginning in January 2011; they will actually purchase a license from publishers to allow their students access to electronic versions of the texts they would otherwise go out and try to locate in print form at the best price they can find. For this service, the student s will be charged a “digital materials” fee. For it’s part the college will require publishers to make the e-books readable in multiple types of e-reader, regular computers included. After all, not everybody has a Kindle or an iPad. [...]

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Many college students end their first year of college with a significant amount of loans and out-of-pocket cost, forcing them to make the decision of either finding another school for the subsequent year or pausing their college education altogether. However, a mistake that can be made by students receiving loans or that have out-of-pocket costs is believing that undergraduate scholarships are not available for those already in college. [...]

79 months ago 0 comments Read More

You’ve seen lists ranking the “greenest” colleges, those who are the most neighborly, and the schools most concerned about the social good. The latest list released this week from PayScale Inc. ranks colleges based on their Return on Investment (ROI), a calculation they came up with by considering the cost of college against the estimated median salary of a graduate from a particular school, 30 years down the line. [...]

81 months ago 0 comments Read More

The cost of books and supplies may not seem like all that much when compared to the thousands of dollars you’re spending on tuition, fees, and room and board, but it’s still painful to drop $100 or more on a textbook you may not even use as often as your professors think. Recognizing your pain, colleges are looking for ways to reduce the costs of textbooks without sacrificing instruction. [...]

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It’s rare for a college to tell a prospective student that their school may not be affordable enough for them to attend come fall. For a year, New York University did just that, calling admitted students and their parents and families to talk about the debt they could get themselves into if they chose to attend the pricey college. Citing little effect on enrollment rates, however, the school will not be pursuing a similar effort this summer, according to a recent article in The Chronicle of Higher Education. [...]

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As colleges prepare for another academic year of tightened budgets, some schools have found ways to rein in costs more creatively than using wait lists for incoming freshmen, recouping revenue through increases in tuition, or introducing new student fees. [...]

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July 1 marks the official date that colleges, if they haven’t already, must transition to the recently approved Federal Direct Loans Program. Schools will no longer offer students the option of having private banks or credit unions handle their federal loans; federal loans will now be coming directly from the U.S. Department of Education. Advocates of the student loan bill have said this will make the process more seamless and fair, with the government taking responsibility for keeping interest rates manageable. And private loans will still be available via the traditional channels, although those loans are typically offered at higher interest rates. [...]

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As students begin evaluating their offers of acceptance from colleges, one factor may weigh more heavily than any other on the tough decisions of choosing the right school - financial aid. The financial aid opportunities School A offers to incoming freshmen that School B does not may be what makes or breaks the decision on where a student will enroll, even if School B is the student's "dream school." Comparing financial aid offers is then an integral process in the decision-making process, and unfortunately you don't have a lot of time to send your notice back to each school you've been accepted to. Here are some tips to navigate the process, and help you determine how to find the "best value": Compare the scholarships and grants available at each school. Have you already been offered either, or has the school simply notified you of your eligibility for more free funding? Compare student loan amounts. What may seem like the best offer at first may actually be anchored by a significant amount of student loan debt. Student loans should be your last resort as far as covering college costs. Compare your expected family contributions. Schools may handle this piece of information differently, and may even accept more information about your family's financial situation after you've received your financial aid package. It's fine to question a school's offer, especially if there are big discrepancies between what each school is offering you. Compare the tuition and fees of each school, and what that financial aid package covers. Some schools may offer you what appears to be an impressive amount of aid based on the cost of tuition alone, and you already know college costs include a lot more than that base price - fees, books and supplies, and room and board, for example. Be aware of what you're eligible to receive next year. Some schools may offer a more impressive financial aid package to incoming freshmen, and pad students' offers the following year with more student loans. Do your research. Compare average student loan debts at each school, talk to students already attending each school, and be frank with your financial aid administrator.Some students may have been lucky enough to have been accepted into a program that has offered them a tuition-free education. A recent article in USA Today took a look at colleges that offer to pay the tuition of all new students, despite all you've already read about tuition and fee increases across the country. Some are military schools that require a commitment from you to serve in the military post-graduation, but others are schools where there exists a need for new graduates, either due to the school's locations or lack of graduates in certain fields of study. Webb Institute, the Cooper Union for the Advancement of Science and Art, and the College of the Ozarks, for example, all offer tuition-free educations to students. Do you know of more? Tell us about them! [...]

83 months ago 0 comments Read More

New regulations that the federal government hopes will protect college students from excessive credit card debt by making it more difficult for young people to open multiple lines of credit go into effect Monday. The regulations, which fall under the Credit Card Accountability Responsibility and Disclosure Act of 2009, were approved by Congress last May. [...]

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The president of Middlebury College has introduced a plan that would cap the school's annual comprehensive cost increases at 1 percentage point above inflation, a proposal that would slow increases that have been running well above and independent of changes in the Consumer Price Index. The school's board is expected to approve the proposal prior to planning its budgets for the next year. [...]

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Despite recent trends of more students across the country enrolling at institutions of higher learning, many students and their families remain mostly uninformed and unprepared to navigate the college and financial aid application process, according to a report issued yesterday called "Planning for College: A Consumer Approach to the Higher Education Marketplace." [...]

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Everyone knows institutions of higher education have been impacted by the economic downturn. Students have been affected too, in the worst case scenarios paying more for their college degrees or facing financial aid shortages. A survey released today further defined just how worried college freshmen are about money, the cost of college, and finding a well-paying job once they graduate. [...]

86 months ago 0 comments Read More

It’s no secret that the last couple years have been hard for higher education. The recession took a toll on colleges and students from a number of directions, and now a new study is analyzing the impact of state budget woes on public colleges and universities. The figures released this week in Grapevine, a publication focusing on state higher education support, show a continued decline in state funding for higher education and an accompany analysis suggests the funding cuts could have serious negative consequences for students at state colleges. [...]

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What if those worried about whether they can handle the rigors of college had an option to ease their worries about whether they were making a good investment? Would "failure insurance" get more of these hesitant students onto college campuses? How would students pay into such a program if they're already struggling to come up with the funds to cover college costs? [...]

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