Obama plans to ease student loan burden
President Barack Obama vowed on Wednesday to take steps to ease the burden of student loans, potentially helping cash-strapped college graduates in a tough U.S. economy.
Obama said he planned to speed up a plan to cap student loan payments at 10 percent of income, bringing it forward to start in 2012 instead of 2014.
The White House estimates the loan changes could cut monthly payments for 1.6 million graduates.
Americans owe more on student loans than on outstanding credit card debt, and total loans outstanding are slated to exceed $1 trillion this year, according to the Federal Reserve Bank of New York.
Under the plan, student debt will also be forgiven after 20 years, compared with 25 years under current law.
Obama will also make changes to allow 6 million students to bundle together certain federal loans to allow a single monthly payment.
The option will be open from January. Those that take it up will also get a 0.5 percentage point cut in the interest rate on some of their loans, lowering monthly payments and potentially saving them hundreds of dollars in interest.
The loan changes do not require approval by Congress.
(Writing by Ian Simpson; Editing by Jerry Norton)
http://news.yahoo.com/obama-acts-ease-burden-student-loans-001017820.html
10/26/11
10/24/11
Community Service is the Key to Winning Scholarships
What organization did you volunteer with?
What was your role in the activity?
How did the service impact others?
Also, keep the contact information of the people in charge of the community service project (you may want to ask for a recommendation letter in the future).
10/21/11
Thank you to Center for Leadership Development (CLD)
Thank you to the Center for Leadership Development (CLD) for hosting the very first Scholarship Advisor Group Presentation! And a special Thank you to all the Parents that were a part of the 2011 Parents Chat Event. When we know better we do better. It was a real treat to have such a collective discussion! I hope that I was helpful... and please let me know if I can be of service. Also, if you can...Pay It Forward. I wish you all the best :o).
10/19/11
Top Secret Information
FAFSA is first come first serve!
The smart students submit their FAFSA Applications on January 1st!
I just got off the phone with a financial aid office manager. And I was blown away by this piece of information. She knows dedicated students that start filling out the FAFSA on New Years Eve and hit submit at 12:01am January 1st using their last paystub estimates (going back after they receive their W2’s to update their submitted form). University Financial Aid sometimes runs out by mid-February…and the rest of the applicants are offered loan packages. And....wait for it... this applys to Graduate Students! Oh man joy joy...
I don’t know about you but I will be submitting on January 1st at 12:01am. Happy New Year!
The smart students submit their FAFSA Applications on January 1st!
I just got off the phone with a financial aid office manager. And I was blown away by this piece of information. She knows dedicated students that start filling out the FAFSA on New Years Eve and hit submit at 12:01am January 1st using their last paystub estimates (going back after they receive their W2’s to update their submitted form). University Financial Aid sometimes runs out by mid-February…and the rest of the applicants are offered loan packages. And....wait for it... this applys to Graduate Students! Oh man joy joy...
I don’t know about you but I will be submitting on January 1st at 12:01am. Happy New Year!
Free Tuition at Harvard University
Harvard Low and Middle Income Initiatives:
Harvard University is offering free tuition to families if their income is less than $65,000 per year. Visit www.fao.fas.harvard.edu or call 617.495.1581
(I called to verify and it is TRUE - 10/19/11)
Harvard University is offering free tuition to families if their income is less than $65,000 per year. Visit www.fao.fas.harvard.edu or call 617.495.1581
(I called to verify and it is TRUE - 10/19/11)
Free Masters Program
Wake Forest University has an opportunity for minority students to attend its MA program for FREE, and so far, the response has been very poor. Please pass along this opportunity to your friends, families. This is a great school and a tremendous opportunity to attend a top graduate school. See the details below, the contact person is: Derrick S. Boone, Ph.D., Associate Professor of Marketing, Rm. 3139 Worrell Professional Center, Babcock Graduate School of Management - Wake Forest University_ WINSTON_SALEM N.C 27109-8738 email: derrick.boone@mba.wfu.edu or visit www.wfu.edu
phone# toll free (866) 925-3622
(I called to verify on 10/19/2011 - TRUE)
phone# toll free (866) 925-3622
(I called to verify on 10/19/2011 - TRUE)
My Inspiration...
In Marianne Ragins' senior year of high school, she won over $400,000 in scholarships for college. As perhaps the first student ever to amass nearly half a million dollars in scholarship money… Marianne Ragins received a master of business administration (MBA) from George Washington in Washington, DC and a Bachelor of Science (BS) degree in business administration from Florida AM University in Tallahassee, Florida. Both degrees were entirely funded by scholarships and other free aid. (www.ScholarshipWorkshop.com)
More inspiration...
October 2009… Former foster child in Chicago now a million-dollar scholar. Derrius Quarles won more than $1 million in scholarship offers, including a full ride at Morehouse. He is a graduate of Kenwood Academy High School in Chicago. When Quarles was 5, the state took him away from his mother. He spent his childhood bouncing from home to home before ending up on his own at 17 in an apartment on Chicago's South Side. His arrival is a story of inspiration and anguish. And it's a testament to his determination to prove that he is better than his beginnings.
He won more than $1 million in scholarship offers, including a full ride at Morehouse. He won full scholarships to five universities, the Gates Millennium Scholarship worth $160,000 and the Horatio Alger and Coca-Cola scholarships, each worth $20,000, to name a few. He'll use most of it to pay for advanced schooling.
He won more than $1 million in scholarship offers, including a full ride at Morehouse. He won full scholarships to five universities, the Gates Millennium Scholarship worth $160,000 and the Horatio Alger and Coca-Cola scholarships, each worth $20,000, to name a few. He'll use most of it to pay for advanced schooling.
Inspiration...
(2010) Deonte Bridges, the first Black Valedictorian of Booker T. Washington High School in over 10 years, gave an uplifting speech which should be listened to everyone young or old. Bridges, who was awarded over $1 million dollars in scholarship money to complete his undergrad and graduate degrees is a true inspiration to everyone....
Inspiration:
Cynthia and Phillip McKee located more than $340,000 in college scholarship money for their son (who has now completed graduate school and garnered a total of more than $500,000 in scholarships)… “If you have only one shot, make it your best one!” say the McKees.
Great Advice...
"You should always start looking for scholarships and fellowships a year before you're going to need them. You must apply to graduate and professional schools at the same time you are applying for scholarships. It takes a leap of faith, but you must assume that you will be accepted somewhere and will need the money."
(Cash for Grad School: The Ultimate Guide to Grad School Scholarships by Cynthia Ruiz McKee & Phillip C. McKee)
(Cash for Grad School: The Ultimate Guide to Grad School Scholarships by Cynthia Ruiz McKee & Phillip C. McKee)
10/11/11
Personal Statement Outline
PERSONAL STATEMENT OUTLINE
• Do not rush this process.
• BRAINSTORM! As the ideas start to flow it will become easier and before you know it you will have quite a few ideas.
BRIEF INTRODUCTION
Introduce yourself
Why do you want to return to college?
ACADEMIC GOALS:
What are your academic goals? Which degree are you seeking? What is your expected graduation date? Where are you enrolled? GPA (if good)? What have you already completed?
CAREER GOALS:
What are your career goals?
What are you working towards?
Why?
In what way will you give back or reach back in the community?
PERSONAL EXPERIENCE
You may want to think of a personal experience that has helped shape who you are.
Have you had to overcome a big obstacle?
What is a dream or goal that is currently motivating you?
Did you overcome a hardship in your life?
Did you serve in the military? What branch? For how long? Were you deployed?
Employment – how many days and hours do you work?
Are you involved in community service? Extra-curricular activities?
FINANCIAL NEED
How will this scholarship help with your educational goals?
Financial need?
• Do not rush this process.
• BRAINSTORM! As the ideas start to flow it will become easier and before you know it you will have quite a few ideas.
BRIEF INTRODUCTION
Introduce yourself
Why do you want to return to college?
ACADEMIC GOALS:
What are your academic goals? Which degree are you seeking? What is your expected graduation date? Where are you enrolled? GPA (if good)? What have you already completed?
CAREER GOALS:
What are your career goals?
What are you working towards?
Why?
In what way will you give back or reach back in the community?
PERSONAL EXPERIENCE
You may want to think of a personal experience that has helped shape who you are.
Have you had to overcome a big obstacle?
What is a dream or goal that is currently motivating you?
Did you overcome a hardship in your life?
Did you serve in the military? What branch? For how long? Were you deployed?
Employment – how many days and hours do you work?
Are you involved in community service? Extra-curricular activities?
FINANCIAL NEED
How will this scholarship help with your educational goals?
Financial need?
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