Financial Aid News
eFinancialAid.com brings you the latest in financial aid, scholarships, grants and loan news.
Ensuring Continued Access to Student Loans Act of 2008 Wed June 25, 2008
In an effort to continue ensuring that every eligible student and his or her parents are able to get the federal student loans they need to meet educational expenses, the U.S. Dept of Education is closely monitoring developments in the financial markets that have an impact on the ability of lenders to make FFEL Program Loans. The DOE is committed to helping provide viability in the marketplace for lenders who are continuing to make loans in this present economy. For further information go to http://federalstudentaid.ed.gov/ffelp/
New Veterans Education Benefit Fri May 16, 2008
The N.Y. Times noted today that Congressional Democrats have begun to put into practice their philosophy of asking the wealthy to shoulder more of the cost of government programs as the House approved an expansive new veterans education benefit that would be paid for by a tax on affluent Americans. The benefit would be for those veterans of Iraq and Afghanistan who enlisted after the Sept. 11 attacks and would give them the equivalent of a free four-year college education at a public university. For the complete article, go to http://www.nytimes.com/2008/05/16/washington/16cong.html?ref=education
Emergency Student Loan Financing Bill Sat April 19, 2008
The House voted 382-27 in favor of a bill that lays out emergency measures to take in case the student loan market seizes up. This bill gives students the reassurances that federally back loans will always be available to them. It also gives the government the ability to designate and proved the capital to lenders if needed, helping elevate lenders who might be facing bankruptcy. Considering that 80% of student loans are currently through subsidized loans offered by financial institutions, this bill can offer a lot of help and keep the student market out of a crisis no matter what the economy is doing.
TEACH GRANT PROGRAM Wed March 26, 2008
In 2007 congress created a new grant for teachers called the (Teacher Education Assistance for College and Higher Education) or the TEACH grant. This grant provides up to $4,000 per year to students who intend to teach in a an elementary or secondary school that serves students from low-income families. There is a catche to this grant, the catch is you must teach at a low-income school, if you want to see a list of schools that quilify you can check out the governments directory of low-income schools. If for some reason you don't end up teaching at a low-income school your grant turns into a federal direct unsubsidized stafford loan, with interest charged from the date of each TEACH Grant disbursement. For more information on federal direct loans check out our student financial aid direct loans page. To read more on the new TEACH grant program check out the govement web site at http://studentaid.ed.gov/PORTALSWebApp/students/english/TEACH.jsp.
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