We’re gonna rock around the community college tonight! The expression ‘burning the midnight oil’ is one the staffers at Bunker Hill Community College have taken quite literally.
According to the Boston Business Journal administrators at the college, straining to fit the influx of students entering Bunker Hill, are implementing a late-shift this fall where the start of class will be at 11:30pm with an end time of around 2am. I hope they allow students to bring their Starbucks and Pepsi’s into the classroom. That is a long night indeed.
You may want to inquire with your school to see if “midnight courses” are on the agenda for the future. Midnight classes are perfect for those working a second shift, or those like my brother who go to bed at 3:30am normally.
Between flexibile class times and online education options school is more accessible than ever before. Where will you be when the clock strikes twelve?
As we head into the warm summer months, many students will be turning their focus to seasonal employment, family vacations, and long days at the beach. Student loans rarely find a place on the summer checklist. I’d like to tell you that’s because students have squared away their financial affairs beforehand, but I don’t want to lie to you. Many students just choose to worry about it later, which can leave you scrambling in the fall. So before you engage in your mental holiday lets first take a quick look at the student loan process to make sure you are all set.
1. Make sure you’ve done your paperwork. All federal student loans like the Stafford loan require the completion of the FAFSA. If you haven’t done so, visit www.FAFSAonline.com for tips and suggestions on how to complete this important form and maximize your federal aid.
3. Determine who’s paying. For Stafford loans, the student is always the primary borrower and has the sole responsibility for repaying the loan after school. For PLUS loans, the parent is the borrower with the student having no legal responsibility to repay the loan. For private student loans, the student is the primary borrower while the parent serving as the cosigner; so while the parent has some obligation if the student doesn’t pay, it’s still principally the student’s obligation. For this reason, some parents prefer to borrow private student loans over PLUS loans.
4. Determine which is the better rate. Work out the numbers as to which of your borrowing options is going to be the best for you, both during and after school. Take a look at this example to see how private student loans and federal loans compare:
5. Apply for your student loans sooner rather than later. Financial aid offices have never been busier, so the sooner you can get your paperwork done, the sooner you’ll know what other financial aid options you’ll need to pursue. Here’s a handy, one-stop shopping page for you to get to every loan option available:
I’d say at least half the people I speak with have no idea who their lender is. And honestly, until you graduate and need to begin making payments it doesn’t matter. Those loans are out of sight and out of mind. But when the time comes when you need to be fiscally responsible or place your loans in a deferment it certainly helps to know who to contact.
If you have federal loans, such as the Perkins, Stafford, or Plus loan there are three different ways you can go about ascertaining who your lender is.
1. If you have your 4-digit FAFSA pin number you can go to www.nslds.ed.gov and follow the prompts.
2. You can contact the Department of Education at 800-433-3243 and request to speak with the borrower tracking department
3. You can contact your school’s financial aid office.
If you have private student loans you can request a free copy of your credit report at freecreditreport.com or annualcreditreport.com. There you will see the names of your lenders listed.
If you’ve ever been called a brown noser or teacher’s pet you’re on the inside track in the game of life.
Professors love students who participate in discussions, ask questions, and offer their own perspective. It really adds to the flow of the class and takes pressure off other students who are either too shy or intimidated to speak up. You serve as the savior for both the professor and your fellow students. Think of yourself as that classrooms student body president. That is the role I find myself in right now.
When I was younger I was painfully shy and didn’t utter two words in class, but I have learned in life that the squeaky wheel really does get the grease. This time around I am a presence. I set a precedent for myself early on in each semester by scoring well on my first exam, being an active participant in class, and asking enlightened questions via email on off days. Now moving forward I always get the benefit of the doubt when I miss a class or even skimp on an essay question. Just two weeks ago I argued about the way a certain question was structured on the exam which led to my incorrect response. The professor agreed with me and gave everyone two points that had got that one wrong.
Last semester I told one of my professors she was doing a great job and was very fair. She was overjoyed by the feedback. It’s the same in the business world or in any walk of life. Throw a compliment or two out there and see the response you get, I guarantee it will be positive. I can’t remember ever telling a girl she was pretty and her replying, “You think I’m pretty! You’re a jerk.” People love compliments!
The next time someone calls you a teachers pet accept that compliment with open arms. The world can use more of you.
Did you lose your job due to the economic conditions? If so, and you reside in Cambria County Pennsylvania, you can take Pennsylvania Highlands classes at no charge under a program that began in January. Because of the costs involved, the college limits free tuition to just Cambria County residents at this time, and also restricts course availability to open seats in existing classes, but that may change.
Sen. Robert P. Casey Jr Casey took the community college’s free tuition program for displaced workers and incorporated it into proposed legislation tapping into the American Recovery and Reinvestment Act. His hope is that colleges countrywide will offer a similar model for those in need.
Since December when Pennsylvania Highlands rolled out this plan, Allegheny County, Luzerne County and Westmoreland County community colleges have followed suit.
What do three of my friends who do not own a home, and me, who is a home owner have in common? Answer, we all have monthly payments in the $1,200 - $1,600 range. The big difference is that my money is going toward my home while there’s is going toward their student loan payments.
They use words like debilitating, crippling, suffocating, and nauseating, when describing their student loan monthly payment. I can tell you we’ve had a few long Friday nights where they drank themselves silly.
I distinctly recall saying to my friend Dan one night, who did you think was going to pay for the loans when you got out of school? He said I was young and didn’t realize how much money was accruing and just figured I’d get a job and pay it off. He then reminded me about a time when I rode on the roof of our friends Bronco while going 50mph. We were both young, dumb, and made some regretful decisions.
I guess that’s why I have a soft spot in my heart for anyone in the same position as my friends. I have seen the mental anguish and stress that has washed over them first hand. I mean, it wasn’t like they went out and bought a porshe here. They went to school to better themselves and become a productive member of society. But the good news is that help is on the way.
Part of the College Cost Reduction and Access Act of 2007 calls for an Income-Based Repayment Plan for those qualified individuals with federal loans (such as the Perkins, Stafford, and Grad Plus). The program will cap off borrower’s monthly payments at 10% of their gross income for 25 years with the rest of the debt being forgiven. This call to action will go into effect on July 1.
Be sure to speak to your lender regarding an income-based repayment plan this summer if you are behind the eight ball. I want that eight ball buried in the corner pocket!
Last November I wrote an article entitled, College Affordability, the Big Financial Aid Overhaul. The article discussed how Harvard University made a number of policy changes surrounding how they calculate financial-aid. Their aim was to focus on middle-class families by making tuition at Harvard more affordable. The net result was a record number of applications (29,112) from the class of 2013.
Unfortunately Harvard was only able to accept 7% of applicants this fall, down from 7.9% last year. The applicant pool reached an unprecedented level of achievement according to university officials. More than 2,900 scored a perfect 800 on their SAT critical reading test, and 3,500 scored perfect on the SAT Math portion.
“We had never had so many good choices.” said William Fitzsimmons, dean of admissions and financial aid. “Our new financial aid program encouraged so many people who might not have ever thought about applying to get into the pool.”
About a quarter of the admitted students come from families earning less than $80,000, making them eligible for nearly a free ride at the prestigious university.
It looks like Disney has some company under the making dreams come true umbrella.
The expected family contribution (EFC) number is increasing from $4,041 to $4,617 for the 2009-2010 academic year.
On February 17, 2009 President Obama signed the American Recovery and Reinvestment Act of 2009 that included an appropriated amount for the Federal Pell Grant award. As a result the Pell Grant award moved from $4,860 to $5,350.
The Department of Education’s Central Processing System has already begun the process of making corrections to applications filed between January 2 and March 17. The DOE believes approximately 113,000 students had an EFC that fell above $4,041 and below $4,617, which are affected by the change. Changes/updates should be completed by the end of March.
So if you were one of those student whose EFC fell above $4,041 and below $4,617 and you filed your FAFSA before March 17 just make sure to reconnect with your school’s Financial Aid Office to ensure you receive the funds you are entitled to.
Recently, President Obama has been talking about his plans to make college more affordable for families and students. The President’s plan is to increase the Pell grant, and make Federal student loans more accessible to students. Students from Kent State University recently asked Obama about his plans and when exactly those changes would take effect:
Student asks Obama about costs of higher education
Sandra Hernandez, The 33 News
March 26, 2009
President Barack Obama started off by saying, “I’m looking forward to taking your questions.”
This one came from 3 sophomores at Ken State University in Ohio:
“What proposals do you have to make college more affordable and to make student loans easier to get and when will your national service program be available so we can take advantage of the scholarship thank you Mr. President.”
President Obama proposes expanding national service and students would get an educational stipend.He is also pushing for more direct loans without banks as intermediaries.
“That then allows us to either lower student loan rates, or expand grants. We want to increase the amount of the pell grant so that it catches up with inflation.”
Students applying for financial aid at UT Arlington felt encouraged.
Harley Nguyen says, “If they increased the pell grant that would help out a lot.”
Erica Horak says, “That’s kinda one of the reasons why I’m going back to school because I know that they’re increasing financial aid and making it easier for people to go back.”
Financial aid is the top story in the campus newspaper with news that Sallie Mae will require students to make interest payments on their loans while they’re in school.
5th grade teacher Teresa Williams owes some 75-thousand dollars in loans she has another solution all together.
“I have loans that date back to 1995 from undergraduate and I have a masters and I’m about to start a doctorate program so yeah, I have loans, lots of loans. I’m waiting on them to be forgiven so come on Obama,” she says.
While it is great that President Obama is talking about increasing aid for potential students, I still don’t see an answer as to when all of this will take effect. I also do not see the benefit of making all loans Direct. The Department of Education, in its current state, can barely manage the loans they service now…and they service less than half of Federal loans in existence. I am all for making loans more accessible and increasing the Pell grant and the Stafford loan maximum amounts…but lets do it so it helps students out NOW…not years from now.
Also, while it is great to increase financial aid, it doesn’t help much when schools are forced to increase their tuition as well. Are we really getting anywhere? Increasing aid coupled with increasing tuition really just leaves the student in the same spot: broke and forced to private loans that can be increasingly difficult to pay back. The repercussions of this has the majority of recent grads and graduates in years to come crippled by looming private loan debt. How does this help the economy? Increases in financial aid are great, but increase it so it comes somewhat near the average of what a college education costs today. As it stands now, and even with Obama’s proposed increases, the maximum amount of Federal Aid a student can get does not come any where near the cost of a private university.
President Obama is pushing his budget proposal to overhaul the entire education system throughout the U.S. His plan would affect students of all ages with a goal of improving education levels all across the U.S. starting with preschool aged children. In a recent speech to the US Hispanic Chamber of Commerce, Obama began to divulge what exactly he has in mind for this giant overhaul. He spoke of a 5 tier reform plan that touches on what seems like every stage of the educational process. The President was quoted as saying, “We have let our grades slip, our schools crumble, our teacher quality fall short and other nations outpace us…The time for finger-pointing is over. The time for holding ourselves accountable is here.”
The 5 reform points that he spoke about are as follows:
1. Increase investments in early childhood programs such as Headstart etc.
2. Holding students accountable for higher/tougher testing standards
3. Increase teacher training and recruitment, and offer “merit pay” (teachers that produce more results will get paid more than others). Along with that, ineffective teachers would be let go if they fail to improve.
4. Renew his campaign for the support of charter schools. (definition of a charter school = Charter schools are elementary or secondary schools in the United States that receive public money but have been freed from some of the rules, regulations, and statutes that apply to other public schools in exchange for some type of accountability for producing certain results, which are set forth in each school’s charter). President Obama also proposed longer school days.
5. For Higher Education he wants to increase the annual Pell Grants maximum to $5550, and push for students from working families to receive a $2500 tax credit.
I can only imagine that the republicans must be reeling…especially about the money for Headstart. Also included in early investments was an idea to have registered nurses visit the homes of single moms regularly to make sure their children are healthy and ready for school life. Not a bad idea, but who will run this program? I will say that he has a point when it comes to holding students and teachers accountable for their performances. Have you ever had a bad teacher? I have, and it made me lose any interest I may have had in the subject at hand. Frankly our country collectively cannot really afford to have children caring less about school than some of them already do.
For those students that are fortunate enough to go on to college, Obama has some plans there as well. The Pell grant is a Federal grant given to students who exhibit more financial need than others; this “financial need” is determined when you fill out the FAFSA (Free Application for Federal Student Aid). Obama proposes to raise the annual maximum amounts on that grant from $4,731 for the 2008-2009 school year to $5350 for the 2009-2010 school year, and then increase it again to $5500 for the 2010-2011 school year. The unsubsidized loan amount for dependent students is currently $2,000, but Obama’s stimulus plan will add an additional $2000 to that, which will help a lot of students out whose parents cannot afford to help them through college. The President also proposes to eliminate the FFEL loan program (private lenders who lend Federal loans) and have all Federal loans run through Direct Loans (the U.S. Department of Education’s Loan program); but wait, there is more….the Perkins loan, which is another federal loan awarded based on need, is typically run through the college itself, but Obama is proposing to shift that loan program so it is run through the government. Now I have my loans from my undergraduate degree with Direct loans, and the customer service is definitely not top notch. I am wondering how the Department of Education is going to manage all the loans that are currently in the FFEL program AND all the Perkins loan and still make sure that those loan programs don’t fall at the waist side. I personally do not see it happening…and didn’t Clinton propose this at one point, but it failed?
A student tax credit is also part of this the Presidents budget proposal, which would put an extra $2500 in students’ pockets. This is definitely helpful to any student in school, and it can also serve as an incentive for someone to go back to school and finish their education.
This new budget proposal has a lot of big ideas, some of which already have the necessary platforms to execute the new plans. Others however do not. It seems like all the ideas would help to improve the education system in the US, but the road to get there might be a long and bumpy one.
One, Two, Three O’clock, Four O’clock rock,
. His plan would affect students of all ages with a goal of improving education levels all across the U.S. starting with preschool aged children. In a recent speech to the US Hispanic Chamber of Commerce, Obama began to divulge what exactly he has in mind for this giant overhaul. He spoke of a 5 tier reform plan that touches on what seems like every stage of the educational process. The President was quoted as saying, “We have let our grades slip, our schools crumble, our teacher quality fall short and other nations outpace us…The time for finger-pointing is over. The time for holding ourselves accountable is here.”