The NASFAA task force provides recommendations for smarter borrowing:
Articles: Financial Aid
4/23/2013
As student loan debt levels and default rates in the United States continue to climb, consumers remain concerned about the accessibility and affordability of higher education. The average overall loan debt for bachelor’s degree recipients is fairly manageable (about $26,500 for the class of 2011, according to The Institute for College Access and Success). Still, students and families are shouldering a greater portion of the cost of college through loans than they ever have before.
3/20/2013
Most financial aid offices are already beginning to receive appeals from families looking to improve their aid awards. A recent Wall Street Journal article encouraged families who were unhappy with their aid offer to call the aid office “as soon as possible.” Financial aid appeals have been a regular part of the aid awarding landscape for some time now, but the way institutions respond to appeals varies widely.
2/28/2013
Higher ed organizations are bracing for potential cuts in student loan funding and the trickle down of major cuts to agencies that support the bulk of institutional research and development.
2/25/2013
- Loan limits would mirror those in the Direct Loan Program.
2/22/2013
A House bill, the Earnings Contingent Education Loans (ExCEL) Act of 2012, attempts to reduce complexity, improve default rates, and increase the effectiveness of federal student loan subsidies—and would dramatically alter the way federal student loans are paid back. On Dec. 17, Rep. Tom Petri (R-Wis.) introduced the bill, which would provide unsubsidized loans and require income-contingent repayment for all borrowers through a payroll withholdings system.
2/15/2013
At Tuesday’s State of the Union (SOTU) address, President Barack Obama discussed the importance of education at all levels and after putting emphasis on early education and job training for high schoolers, he asked colleges and universities to work to make higher education more affordable for students.
1/24/2013
With families’ growing concerns about financing higher education, and the federal government’s increasing involvement in recommending and/or requiring certain communications regarding institutional costs, every institution should be taking a step back to review all of the tools currently being used to present affordability, explain the aid application process, and communicate the awards themselves.
1/2/2013
To avoid student loan pitfalls and misconceptions, NASFAA recommends administrators ensure students know:
1/2/2013
Feedback from private student loan borrowers reveals they hold a host of common misconceptions about their loans. In comments and complaints submitted to the Consumer Financial Protection Bureau (CFPB), borrowers demonstrate a lack of knowledge about the difference between private and federal student loans, how bankruptcy can impact their loans, who holds and services their loans, what repayment options they have, and more.
11/7/2012
NMU's Foundation Scholarship application and selection process was inefficient and labor intensive. A web application was designed that matched selection criteria to the student's academic and biographical profile. The new system reduced data entry, paper, timing, and labor costs, while increasing data accuracy and providing more information to selection committees.
11/7/2012
Financial aid verification was a cumbersome, paper-intensive project that took 6-8 weeks and was prone to errors. With an automated verification solution, DCCCD shaved weeks off the schedule, reduced and realigned staff resources, and even retained some at-risk students.
10/25/2012
Record numbers of students enrolling in college as well as an increasing reliance on student loans to finance the growing cost of college has vaulted student aid into the national spotlight this campaign season.
Both presidential campaigns are dedicating an unprecedented amount of time articulating their widely varying policies aimed at making college more affordable.
9/24/2012
The Department of Education, in collaboration with the Consumer Financial Protection Bureau, has released a new, standardized format for financial aid award letters. The “Financial Aid Shopping Sheet” offers students and families a graphic summary of the cost of attendance and aid available and can be customized by each institution.
8/28/2012
With the presidential election campaign heating up, it’s not just jobs and the economy worth paying attention to.
Pages
Higher Education's Leading Technology Event
Latest Jobs
4/25/2013
CampusWorks, Inc.