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The Best Financial Aid Policies in Higher Ed


Jul 13, 2011

Did you know that more than 70 colleges across the country have replaced loans with grants? That’s right: Schools are offering more free money to entice students to enter their hallowed halls, meaning they will not be saddled with the often-dreaded student loan payments after graduation. What institutions come out on top? Here are a few of the best aid policies, courtesy of the Washington Post’s Daniel de Vise: Princeton University: The Tigers lead the pack time wise, first cutting loans in 1998 and nixing them completely in 2001. Harvard University: After eliminating loans in 2008, Harvard implemented a “zero to 10” standard, which pledges families earning up to $180,000 will pay 10 percent of their income at most toward college-related fees. Amherst College: The school replaced loans with grants and work-study for all students in Fall 2008 and the number of students eligible for Pell grants has nearly doubled to 23 percent as a result. Claremont McKenna and Pomona: Loans were also phased out here in 2008 but not just to help poor students. Roger Huddle, a rising Pomona senior with a household income approaching $100,000, received enough aid to cover roughly two-thirds of the full cost of attendance. Yale University: The New Haven-based Ivy meets full demonstrated need without loans, capping the contribution at 10 percent of income for families earning up to $130,000. [...]

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When most people start a new job, it takes a while for them to find their way and perfectly arrange their tchotchkes before they feel truly comfortable. Not Susan Herbst: She took over as president of the University of Connecticut just 22 days ago but she’s already made a huge impact on campus and beyond. [...]

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College campuses have been the breeding grounds for some of the most successful business in the world. We’re talking Facebook, Apple, Microsoft, and Yahoo! to name a few. Check out who else made Huffington Post’s list of the most successful college entrepreneurs: [...]

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From the get go, the DREAM Act, which would provide a path to citizenship for undocumented college students, has faced an uphill battle. With it failing in the Senate last year and both sides expressing skepticism about the bill, U.S. Secretary of Education Arne Duncan told Congress yesterday that the Administration supports its passage. [...]

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It was recently announced that many state-funded universities in California were eliminating or reducing summer sessions due to budget cutbacks. This news comes on the eve of California lawmakers finally passing a budget plan in the state senate that would help modify the California’s debt problems. While this plan may help with the state's deficit, it puts thousands of students in trouble. [...]

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A high school student with excellent grades, a top ACT score and a history of leadership has won full-merit scholarship to Southern Illinois University. No surprise there – she sure sounds like a worthy candidate – but the scholarship winner in question is Maddie Poshard, the granddaughter of the university’s president, Glenn Poshard. [...]

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Last week, Catholic University president John Garvey announced that beginning with this upcoming academic year, all dormitories would be single-sex. The university based this decision on reported studies that students living in co-ed environments are more likely to engage in binge drinking as well as hooking up. [...]

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Students with hopes of obtaining college degrees in the state of Tennessee now have more issues to worry about other than just getting accustomed to the college lifestyle: Negotiations have been taking place that will place an even bigger burden on the financial status of students. [...]

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Ah college, a sacred time in your adult life when waking up at noon is considered the norm, Ramen noodles as a diet staple are typical and your classes don’t start until 2 p.m. (Trust me, it’s the good life.) Unfortunately, night owls, there’s a downside: According to a recent study, college students whose classes start later in the day sleep more but they also consume more alcohol and have lower grade point averages. [...]

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Figuring out the bottom line when it comes to the cost of your college education is definitely a stressful part of the process. With everything that goes into determining your financial aid package (your parents’ income, your earnings and your family’s net assets), it’s important to understand that merit aid – aid based on a student’s attributes (academics, athletics, extracurriculars, etc.) – is available to student regardless of their “need.” New federal rules are blurring the distinction between scholarships awarded on merit and grants awarded because of a student’s financial need – for instance, a growing number of colleges now award “need-based” aid to students from families earning six figures! Who would have thunk it?! So, we’ve compiled a few helpful tips to maximize your chances for merit aid and increase your overall financial aid package. [...]

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It seems like students are willing to do just about anything to save on tuition, from saying “I do” to asking for handouts to applying early and often for college scholarships. But what if you’re not willing to take the plunge, have a sense of humility and scholarships just aren’t covering the astronomical costs tied to college tuition? Then attending a public school might be your best bet and to slash the bill even further, selecting an in-state public school is the way to go! [...]

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This is not a good week for higher education in China. First, a cheating scam is toppled just days before the national college entrance exam and now, it’s been discovered that Shaanxi Normal University Press is selling transcripts of Yale University’s free online courses. [...]

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There have been countless movie and television show plots surrounding forms of academic dishonesty but in real life, cheating doesn’t pay. The cheater’s reputation, on the other hand, does. Dearly. [...]

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The transition from high school to college is most evident to students when they realize they’ll no longer be coddled in cozy classes of 20 students or less. Lecture halls with 300-plus students are the norm at most major universities where classes tend to be impersonal, relationships with professors are typically nonexistent and students feel more like numbers than people. So for those who prefer a learning environment that provides back-and-forth discussion amongst students and professors, U.S. News and World Report has compiled a list of universities with the highest percentage of small classes. [...]

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Ah, college graduation. It’s a time filled with incredible hope, fear and potentially – depending on your college’s tradition and its willingness to pony up the cash – a famous celebrity commencement speaker. But paying for commencement speakers won’t be happening in Jersey for long: Last week, New Jersey lawmakers proposed a bill that would bar the payment for commencement speakers at public colleges. [...]

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If you have a Facebook account, you have probably been tagged in at least one photo. It could be an image of you participating in an extracurricular activity, attending a sporting event with friends or maybe even elementary school you sporting bangs that Mom cut with kitchen scissors but people looking at the picture will know who it is they are looking at. Many universities, however, haven’t had that same luxury in tagging their archives but a Dartmouth College professor is aiming to change that in order to make years of information more accessible to all. [...]

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Last week, national immigrant youth-led organization United We DREAM started a petition asking President Obama to remove discussions of the DREAM Act from his campaign literature and fundraising emails unless he is willing to use his executive power to block deportations for DREAM Act-eligible students. The petition is a result of President Obama repeatedly saying he supports the bill and that undocumented students are not the focus of his immigration enforcement plans, yet over 390,000 people were deported last year alone. [...]

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If you’re a recent college graduate, chances are you’ll have to start paying off your student loans sooner than you think. And even with the economy in a slump, don’t expect a free pass on not paying your loans. Are you starting to panic? Well, don’t! There’s a ton of advice out there to help students stay on track and courtesy of the U.S. News and World Report, here are seven tips for repaying your student loans. [...]

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