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House Approves 2009 Appropriations Bill

Feb 26, 2009

by Scholarships.com Staff

An omnibus appropriations bill for the current fiscal year passed the House yesterday and is on its way to the Senate.  This piece of legislation will raise the maximum award for Federal Pell Grants to $5350 for 2009-2010.  The bill was put on hold last year due to threats of a veto from President Bush.

While Pell Grants received a funding boost, SEOG grants will remain at 2008 funding levels, as will work-studyPerkins Loan cancellation programs will receive a boost in funding to cover shortfalls.  Additionally, TRIO and Gear Up programs, aimed at helping low-income students get into college, also received more funding.

The first draft of the budget for the 2010 fiscal year is also heading to Congress soon after being unveiled by President Obama this morning.  While details are still emerging, based on an address the president delivered Tuesday, it's likely that further funding for financial aid programs and higher education in general will be included. 

While budgets are being hashed out and college aid is generally on its way up, more trouble may be brewing for student loans.  A PLUS loan auction program slated to go into effect this summer could reduce the availability of these loans that parents take out on behalf of their students, at least at schools participating in the FFEL program. Financial aid officers have petitioned Congress to delay the scheduled cut in PLUS loan subsidies so as not to jeopardize students' ability to pay for school in the midst of a recession that has already driven dozens of banks away from one form of student lending or another.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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2009-2010 FAFSA Application Deadlines

Feb 3, 2009

by Scholarships.com Staff

As we mentioned last month, financial aid application deadlines are fast approaching for the coming fall.  While students technically have until June 30, 2010 to complete a FAFSA on the Web for the 2009-2010 school year, state aid deadlines happen much sooner with some occurring as early as February--this February.  So if you're waiting to do your taxes first or just generally procrastinating on your application, check the deadlines below to make sure you don't miss out on state or campus-based aid programs

     
  • Alabama:   Check with your financial aid administrator
  •  
  • Alaska:  April 15, 2009
  •  
  • American Samoa:  Check with your financial aid administrator (additional forms may be required)
  •  
  • Arizona:  March 1, 2009
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  • Arkansas
       
    • For Academic Challenge - June 1, 2009
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    • For Workforce Grant - check with your financial aid administrator
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    • For Higher Education Opportunity Grant - June 1, 2009 (fall term); November 1, 2009 (spring term)
    •  
     
  •  
  • California
       
    • For initial awards - March 2, 2009
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    • For additional community college awards - September 2, 2009 - date postmarked (additional forms may be required)
    •  
     
  •  
  • Colorado: Check with your financial aid administrator
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  • Connecticut: Priority deadline February 15, 2009 (additional forms may be required)
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  • Delaware: April 15, 2009
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  • District of Columbia: June 30, 2009 (additional forms may be required)
  •  
  • Federated States of Micronesia: Check with your financial aid administrator (additional forms may be required)
  •  
  • Florida: May 15, 2009 - date processed
  •  
  • Georgia: Check with your financial aid administrator
  •  
  • Guam: Check with your financial aid administrator (additional forms may be required)
  •  
  • Hawaii: Check with you financial aid administrator (additional forms may be required)
  •  
  • Idaho:  Opportunity Grant - Priority deadline March 1, 2009 (additional forms may be required)
  •  
  • Illinois
       
    • First-time applicants - September 30, 2009
    •  
    • Continuing applicants - Priority deadline August 15, 2009
    •  
     
  •  
  • Indiana: March 10, 2009
  •  
  • Iowa: July 1, 2009
  •  
  • Kansas: Priority deadline April 1, 2009 (additional forms may be required)
  •  
  • Kentucky: Priority deadline March 15, 2009
  •  
  • Louisiana: July 1, 2009
  •  
  • Maine: May 1, 2009
  •  
  • Marshall Islands: Check with your financial aid administrator (additional forms may be required)
  •  
  • Maryland: March 1, 2009
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  • Massachusetts: Priority deadline May 1, 2009
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  • Michigan: March 1, 2009
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  • Minnesota: 30 days after term starts
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  • Mississippi
       
    • MTAG and MESG Grants - September 15, 2009
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    • HELP Scholarship - March 31, 2009
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  •  
  • Missouri: April 1, 2009
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  • Montana: Priority deadline March 1, 2009
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  • Nebraska: Check with your financial aid administrator (additional forms may be required)
  •  
  • Nevada: Check with your financial aid administrator (additional forms may be required)
  •  
  • New Hampshire: May 1, 2009
  •  
  • New Jersey
       
    • June 1, 2009 if you received a Tuition Aid Grant in 2008-2009
    •  
    • All other applications - October 1, 2009, for fall and spring terms;
    •  
    • March 1, 2010, for spring term only
    •  
     
  •  
  • New Mexico: Check with your financial aid administrator (additional forms may be required)
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  • New York: May 1, 2010 (additional forms may be required)
  •  
  • North Carolina: Check with your financial aid administrator
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  • North Dakota: March 15, 2009
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  • Northern Mariana Islands: Check with your financial aid administrator (additional forms may be required)
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  • Ohio: October 1, 2009
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  • Oklahoma: Priority deadline April 15, 2009 for best consideration
  •  
  • Oregon: Check with your financial aid administrator
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  • Palau: Check with your financial aid administrator (additional forms may be required)
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  • Pennsylvania
       
    • All 2008-2009 State Grant recipients and all non-2008-2009 State Grant recipients in degree programs - May 1, 2009
    •  
    • All other applicants - August 1, 2009 (additional forms may be required)
    •  
     
  •  
  • Puerto Rico: Check with your financial aid administrator
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  • Rhode Island: Priority deadline March 1, 2009
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  • South Carolina: Tuition Grants - June 30, 2009
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  • South Dakota: Check with your financial aid administrator (additional forms may be required)
  •  
  • Tennessee
       
    • For State Grant - Priority deadline March 1, 2009
    •  
    • For State Lottery - September 1, 2009
    •  
     
  •  
  • Texas: Check with your financial aid administrator (additional forms may be required)
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  • U.S. Virgin Islands: Check with your financial aid administrator (additional forms may be required)
  •  
  • Utah: Check with your financial aid administrator
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  • Vermont: Check with your financial aid administrator (additional forms may be required)
  •  
  • Virginia: Check with your financial aid administrator (additional forms may be required)
  •  
  • Washington: Check with your financial aid administrator
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  • West Virginia: Priority deadline March 1, 2009 (additional forms may be required)
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  • Wisconsin: Check with your financial aid administrator
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  • Wyoming: Check with your financial aid administrator (additional forms may be required)
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 Additional information about federal and state financial aid application deadlines can be found on the official FAFSA website.  Deadlines for individual campuses may occur earlier than the deadline for your state.  Check with your college's financial aid office to find out deadlines for campus financial aid.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Both House and Senate Include Higher Ed in Stimulus Bills

Jan 27, 2009

by Scholarships.com Staff

It's looking like federal student financial aid will be increased in the forthcoming economic stimulus package, at least based on the legislation presented in each house of Congress in its current form.  While the House stimulus bill contains more aid for education, the Senate bill also proposes higher education tax benefits and increases in Federal Pell Grant funding.

The House bill promises:

  • $15.6 billion to increase the Pell Grant by $500 to $5,350 and fully fund the increase
  • $490 million to Federal Work-Study
  • $12.5 billion over the course of 10 years to offer a $2,500 tax credit that will be 40% refundable for those who would otherwise make too little to qualify
  • $6 billion to higher education infrastructure
  • $1.5 billion to improve energy efficiency for colleges, schools, and local governments
  • $39 billion to school districts and state colleges
  • $25 billion to states for "high priority needs" which can include education
  • a $2,000 increase in loan limits on federal Stafford Loans

The Senate bill appropriates:

  • $13.9 billion to increase the Pell Grant by $281 in 2009-2010 and $400 in 2010-2011 and fully fund the increase
  • $12.9 billion to create a 30% refundable $2,500 tax credit
  • $61 million to Perkins Loans
  • $3.5 billion to improve energy efficiency and infrastructure on college campuses
  • $39 billion to school districts and public colleges
  • $25 billion to states for "high priority" needs which may include education

The House bill also includes money to improve financial aid administration and further assist student loan lenders, while the Senate bill will allow computers to be counted as education expenses towards which 529 plans can be used.  The bills are facing some Republican opposition, especially regarding education spending, as it's been argued that construction projects and increases to student financial aid will not directly and immediately benefit the economy.  As Congress and the White House continue to hash out the details of these bills, amounts are likely to change.  But for now, it appears that colleges and college students may receive a little extra financial aid from the government this year.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Draft of House Stimulus Package Revealed

Jan 16, 2009

by Scholarships.com Staff

While it's still a long way from becoming law, the first published draft of the economic stimulus legislation created by the House of Representatives includes billions of dollars for higher education, including several provisions designed to make paying for school easier.  The bill still has to be approved by both the House and the Senate (which is drafting its own stimulus legislation) then signed by the President, so it remains to be seen how many of the following appropriations will make it into the final version of the stimulus package.

The stimulus bill would increase funding to several federal student financial aid programs, as well as providing emergency funds to states to prevent further drastic budget cuts, and designating money to help colleges, especially ones affected by disasters, make needed improvements and repairs.  If the bill is passed, federal work-study will receive a boost in funding, as will Pell Grants, eliminating a projected budget shortfall for the program.  Unsubsidized Stafford Loans will increase by $2,000 per year, bringing the loan limit to $7,500 or more for undergraduate students.  The maximum Pell Grant award will also increase to $5,350.  In addition, lender subsidies will also increase, hopefully enticing more banks to remain in the FFEL program.  The Hope tax credit and a provision that allowed families to deduct up to $4,000 in educational expenses will also be combined into a new $2,500 tax credit, through which families with too little income to file taxes could still receive $1,000.

As Congress hammers out the details of the stimulus bill in coming weeks, these numbers will likely change.  A more detailed breakdown of these and other proposals affecting colleges and universities is available from Inside Higher Ed.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Senate Holds Confirmation Hearing for Arne Duncan

Jan 14, 2009

by Scholarships.com Staff

During his confirmation hearing Tuesday, Arne Duncan, Obama's appointee for Education Secretary, disclosed broad ideas but few specific plans for education in America.  Much of the hearing before the U.S. Senate focused on elementary and secondary education, though questions related to paying for college did surface.  Duncan's primary focuses appear to be on college access and college affordability, moving away from the emphasis on accountability the nation has seen under Margaret Spellings, the current Secretary of Education.

According to coverage by The Chronicle of Higher Education and Inside Higher Ed, Duncan's primary goal related to college aid is to guarantee access to student loans for everyone attending college.  Taking up one aspect of Spellings' policy, he also expressed an interest in simplifying the FAFSA to make applying for federal student financial aid more enticing for college students.  Additionally, Duncan pledged to work towards the goals of increasing Federal Pell Grants and instituting the $4,000 education tax credit that made up a major part of Obama's campaign platform.

Congress may already be taking steps towards some of these goals in drafting the next economic stimulus package.  Reports have abounded this week that plans are in the works to increase the maximum available Pell Grant by $500 and to consolidate two existing federal higher education tax options into one $3,000 tax credit for higher education expenses.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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2009-2010 FAFSA Available Tomorrow

Dec 31, 2008

by Scholarships.com Staff

Though it's a day off from school and work, New Year's Day is often seen as a day to get down to business.  While you're starting in on your New Year's resolutions, opening up a new calendar, and packing up the holiday decorations, there's one more thing that college students and college-bound high school students should consider doing.  The Department of Education starts accepting the 2009-2010 Free Application for Federal Student Aid (more commonly known as "FAFSA") on January 1.  State application deadlines start happening soon after, beginning with Connecticut's February 15 priority deadline.  So while you might not be starting school until August or September, you want to be applying for financial aid right now.

What You Need

In order to complete a FAFSA, you will need the following documents: 

     
  • your social security card
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  • a driver's license if you have one
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  • bank statements and records of investments (if you have any)
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  • records of untaxed income (again, if you have any)
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  • your 2008 tax return and W2s
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  • all of the above for your parents if you are considered a dependent (to determine dependency status, check here)
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  • a PIN number to sign electronically (go to pin.ed.gov to get one)
  •  
 If you've applied before, you can fill out a renewal FAFSA, which will let you skip a few questions.  You will still need your tax, savings, and investment information for the new year, though.

If you do not have your tax information yet, and most likely you don't, you can use your 2007 tax information to estimate 2008.  That way, you have a FAFSA on file and once you've done your taxes for the new year, you'll be able to submit a correction online.  While that might seem like more work, it's the best recipe for maximizing your state and campus-based aid packages.  If things changed drastically for your family in 2008, apply for student financial aid with the information you have, then talk to your school's financial aid office to adjust your information accordingly.

Why You Should Apply

Completing a FAFSA is an important step in funding your education if you don't plan on paying for everything out-of-pocket.  The FAFSA is used by the Department of Education to determine eligibility for federal student financial aid for college.  This aid includes federal grant programs (such as the Pell Grant), federal work-study, and federal student loans.  It is also used by states to determine eligibility for their financial aid programs, such as state grants.  Colleges also use the FAFSA to determine eligibility for the need-based aid programs they administer.  Finally, many scholarship opportunities request FAFSA information as part of their application process.  Even if you think that you won't qualify for free money in the form of need-based college scholarships and grants, you should still apply.  At the minimum, the vast majority of students qualify for Stafford Loans, low-interest federal student loans that represent one of the best deals in borrowing for school.

Where To Get More Information

Start on the FAFSA homepage and go through the links under "Before Beginning a FAFSA" to get started, especially if this is your first time filing.  You'll find information about application deadlines, required documents, applying for a PIN, and other things you need to know about to begin.  If you don't want to wait until tomorrow, 2009-2010 worksheets are already available on fafsa.ed.gov.  The ambitious among us can even fill out a worksheet now, then copy the information into their FAFSA on the Web beginning tomorrow.

We also offer a wealth of resources on financial aid at Scholarships.com.  Check out the financial aid section on our Resources page for further reading.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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