Federal student loans get cheaper, easier

Because states have been cutting back on scholarships while hiking tuition, more students are having to borrow to fund college, notes U.S. News and World Report. Luckily, at least some federal student loans are getting cheaper, easier to get, and easier to repay. Easier application: While students will still have to fill out a Free Application for Federal Student Aid, starting July 1, students who want a federal Stafford loan need only ask their college. They no longer need–or have the opportunity–to shop for a bank to make a federally backed loan…

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House boosts college aid for students in need

Obama pushed for legislation that would fill a $19 billion Pell Grant shortfall.
Obama pushed for legislation that would fill a $19 billion Pell Grant shortfall.

Riding the coattails of a historic health care vote, the House on March 21 also passed a broad reorganization of college aid that affects millions of students and moves President Barack Obama closer to winning yet another of his top domestic policies.

The bill rewrites a four-decades-old student loan program, eliminating its reliance on private lenders and using the savings to direct $36 billion in new spending to Pell Grants for students in financial need.

In the biggest piece of education legislation since No Child Left Behind nine years ago, the bill also would provide more than $4 billion to historically black colleges and community colleges.…Read More