Archive for the ‘College Scholarship and Loans’ Category
Posted by admin on February 23rd, 2009
Sallie Mae, the largest provider of student loans in the country, announced today an offer that no family preparing for college admissions should miss.
A new website, www.salliemae.com/resources, aims to help alleviate fears and provide answers. “We have helped more than 21 million Americans achieve the dream of a college education, and we do not intend to let this economy keep us from helping you achieve yours.” They’re not only offering detailed responses to frequently asked questions, but on Wednesday (February 25), Sallie Mae has a toll-free hotline open from 6pm – midnight EST. In addition, you can submit questions directly to the site, get email updates when new answers are posted, and download a free podcast that explains how to complete the FAFSA (the federal financial aid application).
Finally, there are two 45-minute webinars that explain how to calculate and compare college costs, create a plan to pay for college, understand loan payments, and use free scholarship Web tools. The webinars will be held on February 24 at 6 pm and February 25 at 7 pm (both EST). Register by emailing schoolresource@salliemae.com. If you miss it, the webinar will be available on their website beginning February 26.
Posted by admin on November 12th, 2008
Western Governors University is pleased to offer the WGU Excellence in
Special Education Scholarships. These scholarships are designed to help aspiring special education teachers attend college online to earn their licensure or endorsement in special education and fill a vital role in their communities. Each scholarship is valued up to $2,500.
Multiple scholarships will be awarded and each scholarship will be awarded based upon a candidate’s academic record, readiness for online study, and current competency, plus other considerations.
Becoming a special education teacher is now easier because of Western Governors University’s flexible, online degree programs in special education. The Bachelor of Arts in Special Education and the Master of Science in Special Education will prepare individuals to teach students with mild to moderate disabilities.
The Bachelor of Arts in Special Education is suited for individuals such as school paraprofessionals, unlicensed substitutes, parents, and career changers who seek a special education teaching certification that also meets the more stringent “highly-qualified” requirements of the No Child Left Behind Act.
The Master of Science in Special Education program is specifically designed for already-licensed teachers who seek endorsement in special education and a master’s degree. The course of study integrates best practices in special education, instructional design, and development of graduate-level research abilities.
WGU is a regionally-accredited online, competency-based university, and the only online university accredited by the National Council for Accreditation of Teacher Education (NCATE). NCATE, the leader in teacher education accreditation, sets robust and stringent standards for teacher training in all areas of the discipline.
WGU’s competency-based education approach makes it possible for students to accelerate their program and complete the requirements in as little as two to four years for a bachelor’s degree or two years for a master’s degree. The actual time to completion will depend on the incoming student’s prior experience, academic background, and time commitment to study.
Posted by admin on November 6th, 2008
Becoming a special education teacher is now easier because of Western Governors University’s flexible, online degree programs in special education. The Bachelor of Arts in Special Education and the Master of Science in Special Education will prepare individuals to teach students with mild to moderate disabilities.
Western Governors University is pleased to offer the WGU Excellence in Special Education Scholarships. These scholarships are designed to help aspiring special education teachers attend college online to earn their licensure or endorsement in special education and fill a vital role in their communities. Each scholarship is valued up to $2,500.
Multiple scholarships will be awarded and each scholarship will be awarded based upon a candidate’s academic record, readiness for online study, and current competency, plus other considerations.
The Bachelor of Arts in Special Education is suited for individuals such as school paraprofessionals, unlicensed substitutes, parents, and career changers who seek a special education teaching certification that also meets the more stringent “highly-qualified” requirements of the No Child Left Behind Act.
The Master of Science in Special Education program is specifically designed for already-licensed teachers who seek endorsement in special education and a master’s degree. The course of study integrates best practices in special education, instructional design, and development of graduate-level research abilities.
WGU is a regionally-accredited online, competency-based university, and the only online university accredited by the National Council for Accreditation of Teacher Education (NCATE). NCATE, the leader in teacher education accreditation, sets robust and stringent standards for teacher training in all areas of the discipline.
WGU’s competency-based education approach makes it possible for students to accelerate their program and complete the requirements in as little as two to four years for a bachelor’s degree or two years for a master’s degree. The actual time to completion will depend on the incoming student’s prior experience, academic background, and time commitment to study.
Posted by admin on October 23rd, 2008
Western Governors University is helping place more highly qualified teachers into classrooms, especially in the high needs areas of math and science, by offering the WGU Scholarship for Urban Mathematics and Science Educators. These scholarships are designed to help working adults attend college online to become mathematics or science teachers in America’s urban schools.
These scholarships are specifically aimed at individuals living in urban communities who wish to earn a license to teach math or science in their school districts. Also eligible for the scholarship are licensed teachers living and teaching in urban areas who want to earn a master’s degree. Each scholarship is valued up to $3,000.
The WGU Teachers College is one of the largest providers of online teaching degrees, with graduates who have become licensed teachers in nearly every state. It is the only exclusively online teacher education institution to be accredited by the National Council for Accreditation of Teacher Education (NCATE).
WGU’s online degree programs focus on the needs of adult learners by providing flexible, technology-based instruction. WGU’s competency-based education approach makes it possible for students to complete the requirements for their degree at a quicker pace and accelerate their program based on their prior experience, academic background, and time commitment to study.
Multiple scholarships will be awarded. However, this is a competitive program and scholarships will be awarded based on a candidate’s academic record, readiness for online study at WGU, and current competency, in addition to other considerations.
For more information or eligibility requirements on the WGU Scholarship for Urban Mathematics and Science Educators, please visit www.wgu.edu/urbaneducator.
Posted by admin on October 16th, 2008
Sallie Mae offers 5 tips to help newly minted alumni begin student loan repayment and build a healthy credit history and to help customers get off on the right path for student loan repayment:
1. Automatic debit: Set up monthly loan payments with
automatic debit as an easy way to make on-time payments. Your
monthly student loan payments are electronically deducted from
your checking or savings account, saving you time and stamps.
2. Run the numbers: Sallie Mae’s Loan
Repayment Calculator estimates the monthly payments and total
interest costs under the different repayment plans available.
Before selecting a repayment plan, run the numbers and see which
repayment plan gives you a monthly payment that fits into your
budget.
3. Link your loan to Upromise: Join Upromise,
then link your Sallie Mae loan account to your Upromise account
and use your Upromise rewards to transfer savings automatically to
help pay down your eligible Sallie Mae student loans. Upromise
helps students and families save money for education expenses by
earning rewards on everyday purchases from participating
companies. Visit www.SallieMae.com/upromise
to learn more.
4. Stay in touch: Immediately notify your student loan
servicer(s) of any change to your name, address, telephone number,
employer, or Social Security number. This will ensure that you
receive all communication from your loan provider and that you are
aware of your payment amount, payment due date and repayment
options.
5. Prepay or pay extra when possible: You may prepay your
loans in part or in full at any time without penalty. This will
lower the overall cost of the loan. Adding a little extra to each
monthly payment can help.
Posted by admin on October 14th, 2008
USA Funds(R), the nation’s leading education loan guarantor, announces that it supported $17.2 billion in loans to help students and parents pay for college during the fiscal year that ended Sept. 30, 2008. The figure represents an increase of more than 10 percent in college financing supported by USA Funds compared with the previous fiscal year.
USA Funds guaranteed more than $15 billion in Federal Stafford loans for students, a 15 percent increase over fiscal 2007, and more than $2 billion in Federal PLUS loans to graduate and professional students and to parents of dependent undergraduate students.
“Despite this year’s unprecedented turmoil in the financial markets, USA Funds continued to work with participating lenders, postsecondary institutions and the U.S. Department of Education to ensure eligible students were able to obtain financing through the Federal Family Education Loan Program,” said Carl C. Dalstrom, USA Funds president and CEO. “In the unlikely event eligible students are unable to find a lender willing to make FFELP loans to them, the Education Department has approved USA Funds’ plans to serve as the lender of last resort in the states where USA Funds is the designated student loan guarantor.”
USA Funds is designated by the U.S. secretary of education as the guarantor for Arizona, Hawaii and the Pacific Islands, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming.
As a federal student loan guarantor, USA Funds insures private lenders against default. As part of this role, USA Funds supports extensive systems, services and staff who ensure requested loans are delivered to eligible students attending eligible postsecondary institutions; serves schools, lenders, students and parents with answers to their questions about their education loans and supports their compliance with loan program guidelines; helps student- and parent-borrowers successfully repay their loans; provides assistance to borrowers who face difficulties repaying their loans; and recovers on behalf of U.S. taxpayers amounts owed by borrowers who defaulted on their student loans.
Headquartered in Indianapolis, USA Funds is a nonprofit corporation that works to enhance postsecondary education preparedness, access and success by providing and supporting financial and other valued services. For more information about USA Funds, visit
www.usafunds.org .
Posted by admin on October 13th, 2008
KeyBank will no longer offer private loans for students because of the long-term unstable credit market.
Existing loans from KeyBank will still be honored through the rest of this and the Spring 2009 semesters. After Oct. 31, KeyBank will stop taking applications for private student loans.
Students usually apply for private student loans when they cannot get more money from federal loans.
Mark Evans, student financial aid director, said about 2,000 to 3,000 Kent State families have private student loans. Ninety-five percent of those families get them from KeyBank, CitiBank or Sallie Mae. Kent State works with these banks to provide private student loans.
“Over the years, the cost of going to college has increased,” Evans said. “More students and their families turn to private loan programs to gain access to additional funding.”
Laura Mimura, vice president of marketing and communications at KeyBank, said the bank will still participate in the federal loan market.
“We are still making loans to students to go to Kent State through FFELP (Federal Family Education Loan Program),” she said. “Students at Kent State and other Title IV schools can get Stafford Loans and Federal PLUS loans.”
To assist students in minimizing debt, Mimura said a service called BorrowSmart may help. BorrowSmart’s program helps minimize debt by looking at available grants and scholarships, then students can calculate the amount they can pay per month. To access BorrowSmart, students can go to www.key.com/borrowsmart.
Mimura and Evans both said students have to be informed and do research to get the financial aid that works for them.
“You have to do the work,” Mimura said. “This (BorrowSmart) is not a magic pill.”
Evans suggested students go to the Kent State Student Financial Aid Web site, www.sfa.kent.edu, for current information on available aid. He also said students should come to the financial aid office and talk to a financial aid representative if they have questions.
Mimura said KeyBank’s decision to exit the private student loan market was made about a year ago.
“We are still committed to education,” Mimura said. “But we have to make decisions to protect the strength of Key.”
Although some students may have to apply for private student loans from a different company next year, Evans said students shouldn’t be worried about getting another loan.
Posted by Jen Zeman on October 11th, 2008
Unless you have been living under a rock or in the remote regions of the Appalachians, you realize the United States is in a serious credit crisis. This crisis is affecting all markets, including higher education. If you are contemplating going back to school, you may be worried with the economy in its current state it doesn’t make much fiscal sense to attempt financing college. While it’s true that because of the credit crisis the cost of student loans, especially private loans (i.e. loans by such companies as Sally Mae or your local bank), are more expensive because of an increase in interest charged, college still remains a sound investment in your future. Federal loans are still reasonable and are always an option. According to www.education.yahoo.net, those who obtain a bachelor’s degree earn an average of 88 percent more a year than high school graduates! It is true that there are infinitely more opportunities for individuals with a college degree than just a high school diploma, so invest in yourself. If you are still uncertain if you can afford to back to school, I strongly encourage you to make an appointment with a financial aid counselor at your school of choice. They will be more than willing to explain the financial aid process and how educational loans can fit into your budget.
Posted by admin on October 10th, 2008
The Bush administration said on Friday it would take further steps to support the student loan market for the 2009-2010 school year.
In a joint statement, U.S. Treasury Secretary Henry Paulson and Education Secretary Margaret Spellings said they would soon announce steps to address challenges hampering student lenders and borrowers.
“Using our newly extended authorities, the administration is moving aggressively to support the continued availability of funding for federal student loans in the next school year with the goal of restoring the government guaranteed student loan market to normal operations,” they said in a statement.
Posted by admin on October 7th, 2008
Sen. Charles Schumer is calling on the federal government to protect college students and their families from the credit crunch by expanding the economic bailout to include student loans.
“We have to build a wall around the student loan market to protect our kids from the credit crisis,” Schumer said at a news conference yesterday in Massapequa outside Plainedge High School, where students from a senior government class peppered him with questions about college costs and loan availability.
“My parents tell me I have to be realistic about where I want to go, and money is nearly as important as how good my grades are,” said Marianne Kennedy, 17, of Seaford, who is applying to both public and private schools. “They don’t want me having huge debt when I graduate.”
The Wall Street bailout legislation passed by Congress last week gives the federal government authority to buy up bad student loan debt as well as bad mortgage debt.
In a letter to U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke yesterday, Schumer (D-N.Y.) asked that they “pay special attention to the student loan market” as they carry out the bailout plan. He also wrote to every college and university in New York State, asking those that do not participate in the federal Department of Education Direct Loan student aid program to reconsider. Nationwide, 1,369 of more than 4,000 colleges and universities participate, according to a Schumer spokesman.
Schumer also is proposing that a commission be established to determine whether the federal loan program has enough resources if private loan programs dry up.
In recent months, more than 50 lenders have either suspended new government-backed student loans, left the program altogether or begun raising interest rates for private loans - in some instances, Schumer said, to as high as 19 percent.
“Lots and lots of the banks that are doing the lending are pulling back,” he said. “This wouldn’t be just a two-year economic crisis, it would be a generation crisis.”
