Subscribe in a reader05.08.09 | Changes in Aid for 2009-2010 School Year
There are some changes that will occur for this upcoming 2009-2010 school year that will effect any student that 
receives some sort of Federal aid. These changes are due to the 2009 Economic Stimulus bill. Here is a breakdown of the changes and what it means for you and your financial aid:
Pell Grant increases: The maximum annual amount for Pell Grants (free scholarships for lower-income students) increases from $4,731 to $5,350 in 2009. Congress is considering President Obama’s proposal to further boost the maximum to $5,500 next year.
Pell Grants needn’t be repaid and can be used for tuition, books and living expenses while enrolled at a participating institution. To apply, you’ll need to complete the Free Application for Federal Student Aid (FAFSA) form at www.fafsa.ed.gov. Note that the federal deadline for FAFSA submission for the 2009-2010 school year is June 30, 2009.
New tax credit: The Hope Scholarship, an educational tax credit that reduces a student’s or family’s tax liability, is being replaced in 2009 and 2010 by the more robust American Opportunity Tax Credit. Enhancements include:
* Maximum credit amount increases from $1,800 to $2,500.
* Tax credits can now be claimed for all four years of college, instead of only the first two.
* Those with an adjusted gross income (AGI) of less than $80,000 ($160,000 for joint tax filers) qualify for the full credit – a significant increase over previous years. The credit gradually phases out for AGI between $80,000 and $90,000 ($160,000 to $180,000 for joint filers).
* Unlike Hope Scholarships, this credit is partially refundable, which means lower-income families paying for college can receive a refund of up to 40 percent, even if they owe no federal income tax.
Federal Work Study Program expansion: About $200 million has been added to this program, which provides on-campus part-time jobs to students. Eligibility is determined by information provided in the FAFSA.
Financing computers: Tax-free withdrawals from 529 College Savings Plans are now allowed for computers, in addition to tuition, room and board, and books.
Federal Stafford loans: An additional $2000 in the unsubsidized loans will be available for dependent students. Also, the interest rate for subsidized loans will decrease from 6.0% to 5.6% after July 1, 2009.
So with all these additions to the Pell grant, Stafford loans, work study etc…it seems like a lot of people should be seeing more aid in their award letters for the 2009-2010 school year. If you receive more financial aid, what will that mean for you? How will it help you personally? Leave a comment, share with me, and happy Friday:)
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I got a revised student aid letter a few weeks ago. The amount on my Pell Grant increased, some loans went down, and my work study remained the same. On average how much do low income students get from Federal Work Study? Does my school decide how much money is allocated for it, or does someone else? Thanks.
May 9th, 2009 | #
I just got a letter from my school telling me the same information. This is great news.
May 9th, 2009 | #
Very informational
May 9th, 2009 | #
Good to know. Thanks!
May 9th, 2009 | #
An additional $2000 through a Federal Stafford Loan might mean that I can actually use one loan for a whole school year! However, it will also mean an increase in debt. So, bittersweet as always.
May 9th, 2009 | #
It’s just been me and my mom since I was 18 months old. I am going to college to become a nurse and I will be taking out student loans to help pay for my education. Having the amount allowed increase and the intrest rate lowered this will help me and my mom a lot!
May 10th, 2009 | #
More Financial Aid?! That’s awesome!!! Obama is the man!
May 10th, 2009 | #
I just file financial aid does not look like its enough
May 11th, 2009 | #
@Kay, your school has a certain amount of work study they can shell out to students. They use their own formula to decide how much students get based on their EFC.
May 11th, 2009 | #
I think these changes are necessary. I know that a lot of the colleges ( at least around where I am at) are raising tuition.
May 13th, 2009 | #
:D I am glad to hear such news! This little extra money is a big help for when I transfer to a University. One of the bad things is that no matter how much more money they give us, tuition is increasing faster than these changes.
May 13th, 2009 | #
I think it’s great that someone is finally increasing the amount of money for grants and credits so that eligible students don’t have to rely so heavily on loans
May 13th, 2009 | #
Thank god for scholarships!
May 13th, 2009 | #
More loan money will help me, because my school refuses to give me the entire amount Stafford allows. The university claims the cost of attendance is not that much, but they severely underestimate my expenses. For instance, I had to spend more than $500 for books for two classes this spring. Also, due to budget cut-backs, my major department does not offer enough classes for me to attend full-time. Thus, I receive a smaller check. I would prefer to have that one extra class a term and get my entire loan, because my class schedule and commute prevent me from working a regular job.
May 13th, 2009 | #
I heard about the stimulus bill on tv one day, but I never quite understood what it meant. This article was very helpful. Thanks
May 13th, 2009 | #
Very nice to see
May 14th, 2009 | #
this is great for people who get government grants
May 14th, 2009 | #
I think that even though the economy is in a jam right now, I still think that this is a very good idea, although I’ve got to say that the pay before was much better.
May 14th, 2009 | #
i think increasing funding for the pell grant will help the students greatly in paying for their finances.
May 14th, 2009 | #
Good info!
May 14th, 2009 | #
cool looks good
May 14th, 2009 | #
Hmm, the plan sounds good. More financial aid for needy students =DD I also heard that President Obama wants to cut the banks and other “middlemen” so that the loan money goes directly to the students and their families…
May 14th, 2009 | #
I am glad that the scholarships are going to more options like computers and books, and not just the schooling.
May 14th, 2009 | #
I have to get a loan out this year and this will allow me to get just one a pay for the whole year.
May 15th, 2009 | #
I could use all the money I can get
May 15th, 2009 | #
I don’t know whether or not this will effect my financial aid in the least. I hope it does though. It would be nice.
May 15th, 2009 | #
Yes.
May 15th, 2009 | #
STIMULUS2009
May 15th, 2009 | #
this is great
May 16th, 2009 | #
Very informational but still i have to apply for a loan to pay all of my tuition
May 16th, 2009 | #
But still i have to apply for a loan in order for me to pay my tuition
May 16th, 2009 | #
I still have to apply for a loan though.
May 16th, 2009 | #
Pell grants have come a long way. My boss got one when they were only 2,800.
May 16th, 2009 | #
Right on for students. It’s awesome to have the help.
May 16th, 2009 | #
Thank You, Maybe I can eat this year!
May 17th, 2009 | #
Coming from a family that has always been low-middle class, it is great to know that help is available! And now it’s even greater news to know that original amounts are being raised. I want to stay in college, so I need all of the help I can get.
May 17th, 2009 | #
Coming from a family that has always been low-middle class, it is great to know that help is available! And now it’s even greater news to know that original amounts are being raised. I want to stay in college, so I need all of the help I can get.
May 17th, 2009 | #
I love these ideas. They will definietly be benifiticail to me since I did not recieve much finacial aid for this year, and I will be an out of state student. Great!
May 18th, 2009 | #
Very good news for us older people goping back to further our education… I am a single mom and this really makes me happy. Thanks Obama!!
May 18th, 2009 | #
As a lower income pell grant recipient this is good news. Thanks Obama!
May 18th, 2009 | #
good news! :]
May 18th, 2009 | #
Man this was awesome i didnt know half of this stuff thank u ALOT!
May 19th, 2009 | #
Awesome!!!
May 19th, 2009 | #
I’m taking out loans for the first time to attend graduate school, and I’m glad they are lowering the interest rate on subsidized loans.
May 19th, 2009 | #
Let’s thank our government and to the contributing concensus having implemented the Economic Stimulus Bill in order for us students to utilize the increased Stafford loan amounts, pell grants, and expanse in the FWS program and lowering the subsidized loan interest rate…way to rally America!
May 19th, 2009 | #
sumthing is better than nothing
May 20th, 2009 | #
somthing is better than nuthing
May 20th, 2009 | #
somthing is better than nothing at all .
May 20th, 2009 | #
its about time they increased the money now more student will have a better chance for paying for college,
May 20th, 2009 | #
this is very interesting and good to know for upcoming students
May 20th, 2009 | #
interesting
May 20th, 2009 | #
Tight…thats Good News Thanks!
May 21st, 2009 | #
How come there aren’t more oppurtunities like these for international students studying in the US? We need to be educated too and because we’re international its even more expensive for us.
May 21st, 2009 | #
I am an online student, I wonder if this apply to me also? Because it have been a real hassle worrying about getting enough funds for classes with the financial aid and private loans because of the tuition hike.
May 21st, 2009 | #
I think the changes will help a lot and it will probably motivate more students to go to college. Some don’t continue on to college because of how expensive it is and with these changes I think more will be interested.
May 22nd, 2009 | #
I did notice a difference from last years funds. It great stuff.
May 22nd, 2009 | #
I’m glad that it has been increased. it’s very good information espically since i am starting college in the fall
May 22nd, 2009 | #
Yay! As a person who’s EFC is “0″, I’m very happy that Pell Grant has been increased because recently even the max. of Pell Grant wouldn’t cover tuition, which doesn’t include books, supplies, and other expenses! I commute 100 miles every day I go to school…that costs $$$$!
May 22nd, 2009 | #
It seems that it is becoming more and more difficult to find sufficient money for college students but things like this give me more hope that everyone will still be able to afford the education they desire to have
May 22nd, 2009 | #
I just applied for a pell grant and it stated i could get up to 5,300 to further my nursing career.
May 22nd, 2009 | #
I think it’s an absolutely great idea to raise the Pell Grant. Especially in this economy crisis, we all need extra money
May 23rd, 2009 | #
I just got a letter from my school telling me the same information. This is great news.
May 23rd, 2009 | #
I am glad that students are now able to recieve more scholarship money.
May 23rd, 2009 | #
I’m glad to see more help coming from the government to students.
May 23rd, 2009 | #
I wish I didn’t have to worry about any of this. *sigh*
May 23rd, 2009 | #
I sure wish i didn’t have to even think about this stuff.
May 23rd, 2009 | #
I am so glad there has been increases for college students. I am a single mom who is unemployed because I don’t have time for a job. I get help from my family and my boyfriend and it definetly helps that Obama is making it more possible for moms to go to school.
May 23rd, 2009 | #
Very good to know. Finally good news!
May 24th, 2009 | #
Thank goodness for scholarships!
May 24th, 2009 | #
How will graduate students be affected?
May 24th, 2009 | #
This is all good to know.
May 24th, 2009 | #
this is great,hope for more decreases on loan % in the near future.
May 24th, 2009 | #
Wow…great stuff, with all the university tuitions increasing and the economy hurting so badly, this should definitely help people stay in college that wouldnt have been able to otherwise.
May 25th, 2009 | #
This is great
May 25th, 2009 | #
Tese are very good tips. Thankx
May 25th, 2009 | #
Im so happy for the increase now i can go back to school nd finish my degree and not worry sbout how i will pay for it.
May 25th, 2009 | #
thanks for the
May 25th, 2009 | #
I tried applying for a PELL grant but was denied this year because the rules for establishing financial independence have changed, unfortunately. Otherwise I would jump on that in a heartbeat.
May 26th, 2009 | #
I think this increase is great for students that are trying to better theirselfs and don’t have a lot of money yet.
May 26th, 2009 | #
HEY CAN SOMEONE EXPLAIN TO ME ABOUT HOPE SCHOLARSHIP. I NEVER HEARD OF IT UNTIL I READ THIS ARTICLE.
ALSO, WHAT ARE THE SECRETS TO GET ALMOST THE FULL PELL GRANT IF YOU ARE A STUDENT WHO DOES NOT RECEIVE ANY FAMILY FINANCIAL?
May 26th, 2009 | #
this is very good info ! ;)
May 26th, 2009 | #
great !
May 26th, 2009 | #
I would definitely like to receive more money from the Federal Pell Grant.
May 26th, 2009 | #
Love the tax credit…AWESOME!!
May 27th, 2009 | #
This information helped me a lot! I will definietly be referring back to this.
May 27th, 2009 | #
This info is great! so helpful.
May 28th, 2009 | #
I think I have a better understanding.
May 28th, 2009 | #
Lots of good info for someone who’s nevr done this before!
May 28th, 2009 | #
COOL INFO!
May 28th, 2009 | #
really great news. thanks
May 31st, 2009 | #
Great information! Especially since everyone is struggling financially right now.
May 31st, 2009 | #
it would be better if everyone was actually given financial aid…
June 1st, 2009 | #
Wish we would see new monies coming in, last years tax returns were great, but this years not so much. Still trying to change FAFSA and get something!
June 1st, 2009 | #
It seems that less financial aid is becoming available but its comforting to hear that there are still great ways to help pay for college.
June 1st, 2009 | #
This is really good information. I need as much help as I can get!
June 1st, 2009 | #
Very good info thanks
June 2nd, 2009 | #
I think it’s a very good decision on apart of Presidential elect Barack Obama, this new Recovery Act, and increase in Stimulus increase’s in the federal budget, Social System it’s a quality over quantity decision.
It indorses President George W. Bush II’s no child left behine policy which ensures equality in the United States Public Educational system and guarantees freedoms and choices for students who are enrolled in the Public Schools.
I know that lots of students will enjoy the increases in funding and it will boost the morality, and motivation of the U.S. Student body and I assure that every child will feel excepted and work hard at achieving to there fullest potential.
I know that this is a great endeavor for me Julia A. Miller and I will use the increases to invest in computer software and hardware for the benefit of higher education.
June 3rd, 2009 | #
This is Good News for all United States public school students specifically College Students who are considering relocating from there home state to a foreign state to attend classes for the fall of 2009 and academic year 2009′2010.
June 3rd, 2009 | #
THANKS For the information!!Very Helpful
June 3rd, 2009 | #
People other than lower income need money too.
June 4th, 2009 | #
That’s great about the computers tax free thru 529.
June 4th, 2009 | #
Thank you so much! Great information. Very helpful.
June 5th, 2009 | #
This little extra money is a big help for when I transfer to a University. THANKS… =]
June 5th, 2009 | #
i think thats great
June 6th, 2009 | #
I want to do this opn my own. Why does the fafsa take into account my parents income. They have enough on their plate as it is.
June 7th, 2009 | #
it seems so confusing
June 7th, 2009 | #
wow, that was really helpfull. I’m going to have to keep all those things in mind…it’ll help out a lot, especially because my college is so expensive
June 7th, 2009 | #
being that my college is so expensive, seeing my pell grant this year go up will help me so much
June 8th, 2009 | #
Very informative!
June 8th, 2009 | #
Thanks for the info! This is very helpful!
June 8th, 2009 | #
I am an adult student and you don’t find many offers for us. I have a daughter that just graduated with a 4year degree (she needs 6 more years to get her doctorate). Her sister will be a freshman this year and I am a returning student because I lost my job. It seems that for five years I made too luch money and am not eligable for grants. The money I have saved has to stay saved so I can afford to live without a job. My husban makes about the same as I did so our income has been cut in half. I have no job and three people in school at the same time, what am I to do? Hope I get scholarship money.
June 9th, 2009 | #
Very interesting. I’ll have to keep all those things in mind even though my college isnt going to be VERY expensive but I really cant afford it. The financial aide has helped me out and basically paid for all of it. I’d recommend at least trying :o)
June 9th, 2009 | #
yay for scholarships
June 9th, 2009 | #
They need more assistance for non traditional students, and those of us with families. Headed in the right direction though.
June 9th, 2009 | #
Nice
June 9th, 2009 | #
Very helpful
June 9th, 2009 | #
This economic crisis is really annoying to put it mildly. I had prepared to go back to school and now, it is nearly impossible for me to get more funding. I am not rich and this situation makes it that I may have to quit school :(
June 10th, 2009 | #
I think is totally necessary because school’s tuition it’s been increasing a lot. Im very greatful with any kind of financial aid.
June 10th, 2009 | #
awesome
June 10th, 2009 | #
THis is very good!!
June 10th, 2009 | #
this is very good
June 10th, 2009 | #
I am happy for these scholarships available for only US citizens or permanent residents. I wish the Hope scholarship can be also for internstional students. Please if anybody knows a scholarship for international students, please do not hesitate to tell me.. ask4chek@yahoo.com.. I will be very grateful.. it has been hell trying to pay for college.
June 10th, 2009 | #
I am happy for this scholarship. I just wished that this Hope scholarship is also for international students. Please if anybody nows scholarships for international studens,please do not hesitate to tell me.. ask4chek@yahoo.com..I am very grateful
June 10th, 2009 | #
I thank for this great financial relief.
June 11th, 2009 | #
This is great news since tuition keeps going up and up every year.
June 12th, 2009 | #
This is great news. Tution keeps going up so it’s good to know the pell grant is going up. I’m also pleased that student loan interest is going down. Anything helps!
June 12th, 2009 | #
This will surely help next year when I complete my FAFSA AND all my financial aid help next year.
June 12th, 2009 | #
yeah
June 12th, 2009 | #
I am very greatful for all the financial aid and scholarships that are available the US Citizens. I just wish the income level would go up.
June 12th, 2009 | #
I did receive work study and both subsidized and unsubsidized loans but never heard of Pell Grants. If i already received my awards for 09/10 am i out of luck to receive a Pell Grant as well. And what exactly is considered “low income”.
June 13th, 2009 | #
This really helps
June 14th, 2009 | #
I need all the help I can get to make my four years
June 14th, 2009 | #
I can use all the financial aid I can receive to finish my schooling. I support my family myself and cannot stop now, I am almost done.
June 15th, 2009 | #
These are great news especially for someone like who think college was not possible. Thanks.
June 15th, 2009 | #
I need all the information that i can get to help with the increasing costs of college.
June 15th, 2009 | #
For someone like me. How is a stay home mom going back to school after oh, about 10years this is a life saver, now I know that I will be able to complite my schooling and stell be able to make ends meet.
June 16th, 2009 | #
This is good for those it will help. But why does the cost of education keep going up. The increase in tuition and books will eat the increase of scholarships right up, leaving the student actually in the same boat, needing more money. I think that if a student wants to go to college they should not have to rely on parents income and info to qualify for federal money. I know its been this way forever, but most times parents with income are barely making the mortgage pymt and now they have to come up with full tuition for college, thats mostly impossible!!!
June 17th, 2009 | #
Its getting really hard to get any money from everywhere. I’m glad there is some hope!
June 17th, 2009 | #
Thanks for the Info. Hopefully I will be able to get more aide.
June 17th, 2009 | #
For someone like me who works 2 jobs and go to school full-time this is great now i can concentrate on my studies more and don’t have to work so hard.
June 18th, 2009 | #
Very nice to see. i need money for school books..
June 18th, 2009 | #
excellent news
June 20th, 2009 | #
thanks!
June 21st, 2009 | #
I heard about the Federal Student Aid increase for the 2009-2010 year and I think it is wonderful that students will be able to afford a college education. My only issue is the fact that even with the increase in money for the Federal Work Study Program, some students including myself still do not receive enough money for an entire school year.I also did not hear about information on the Perkins Loan.
June 22nd, 2009 | #
I recieved almost twice as much federal aid for the coming semester compared to last semester. Thank god because there is no way my mom gives me the expected family contribution amount!
June 22nd, 2009 | #
I cannot believe this it would have been so useful now.
June 22nd, 2009 | #
noce to know thanks!!!
June 23rd, 2009 | #
Thanks, some great info!!
June 23rd, 2009 | #
I can’t wait to see how the AOTC benefits me! This site is great. Thank you for this!
June 23rd, 2009 | #
I’m happy for undergraduates but sad for graduate students.
June 23rd, 2009 | #
Thanks for the information i think you guys are doing a great job giving us inforamtion…keep it up!!!!
June 24th, 2009 | #
i need all the money i can get
June 24th, 2009 | #
I am glad more options are available.
June 25th, 2009 | #
Thanks for the financial info update on federal aide. If I can recieve this additional aide it will really help me pay to be an Aggie!
June 26th, 2009 | #
I don’t think the Hope scholarship changed for the 2009-10 year. But the Pell grant has and that goes for Stafford loans too.
June 29th, 2009 | #
wow i hope i can expect some good news as well…
July 1st, 2009 | #
any increase is better than no increase, God bless our president
July 4th, 2009 | #
When will I be notified about receiving a Pell Grant for the 2009-2010 school year?
July 6th, 2009 | #
I agree with “hoopz” and Melissa is right a University hurts the pocket! I just got told about the raise.
July 8th, 2009 | #
a boost in Pell….what a godsend!
July 8th, 2009 | #
This is great because it would provide me an opportunity to get more money with having to use a loan
July 8th, 2009 | #
sounds good
July 8th, 2009 | #
I definitely think we all needed the extra help with the way the economy is going. This is a blessing!
July 9th, 2009 | #
i like the increased tax credit.
July 9th, 2009 | #
lets hope it works
July 9th, 2009 | #
NICE ARTICLE
July 9th, 2009 | #
This is such good news considering that my family will sruggle to pay for my college tuition and if I could get help from scholarships and grants, it would make life much better…
July 9th, 2009 | #
great info.
July 9th, 2009 | #
It all sounds GREAT!!!!!
July 9th, 2009 | #
I am excited about the changes to the pell grants. The increase in the amount is a welcome change. I needed the increased money to come my way.
July 10th, 2009 | #
Sounds great! We students need more aid!
July 10th, 2009 | #
Yay for tax breaks!
July 10th, 2009 | #
It sure is a added bonus for this upcoming year…
I can use all the help I can get!
July 11th, 2009 | #
YAHOO!!!!
July 11th, 2009 | #
Great article! I found this helpful in understanding everything better! Thanks!
July 12th, 2009 | #
This is great news because as the tuition prices go up more aid will be needed and this seems like a great way to keep the balance.
July 12th, 2009 | #
i just found this out! awesome
July 13th, 2009 | #
I hope I can get financial as to help pay for college
July 13th, 2009 | #
thanks, obama. good plan.
July 13th, 2009 | #
sounds really good
July 13th, 2009 | #
It’s about time!!
July 13th, 2009 | #
good to know!
July 14th, 2009 | #
That was a very informative article.
July 14th, 2009 | #
THIS IS DEFINITELY GOING TO BE A GREAT HELP
July 15th, 2009 | #
Unfortunately, I have not seen any of these benefits. Hopefully I an still receive them!
July 15th, 2009 | #
If I receive more financial aid, I might be able to pay my mortgage when I’m in school and not be as worried about losing my home.
July 15th, 2009 | #
Looks like students are highly favored both in grants and tax deductibles. Time to acquire a higher education for prefessional advancement. Kudos!
July 15th, 2009 | #
That’s nice it wilkl help out a great deal….
July 15th, 2009 | #
There was great infomation in this article. It is nice to see that the interest is dropped some on the Stanford loans.
July 15th, 2009 | #
i recently recieved this information from my school. although i’m not eligible for a pell grant i’m happy that they’ve gone up.
July 15th, 2009 | #
I UNFORTUNATELY LOST MY FINANCIAL AID BECAUSE I DID NOT HAVE ENOUGH HOURS DUE TO AN ILLNESS IN THE FAMILY. CAN I REAPPLY AFTER I HAVE PICKED UP THE NECESSARY HOURS REQUIRED.
July 16th, 2009 | #
Good news every penny counts, however, my mom has been a single parent for over ten years and has worked hard to raise me and my sister. Unfortunately, We are having to struggle to pay for my education and haven’t seen much help with financial aid. Maybe things will change before I graduate!
July 16th, 2009 | #
Don’t know if anyone knows about this or can vouch for this but I was told that if you get a job in the federal govt or in the public service sector, your federal student loans (not private loans) will be reduced, and if you put in 10 years, your balance will be forgiven. Article link below:
http://federaltimes.com/index.php?S=4181630
July 17th, 2009 | #
Unfortunately, many of the increases don’t help grad students. Pell Grants? I can only dream of the good old days. Subsidized Stafford? I’ve still got to take out unsubsidized to pay for the year. Paying for grad school is much tougher than paying for undergrad.
July 17th, 2009 | #
this helped so much. i’m glad someone took the time to write this blog.
July 18th, 2009 | #
cool
July 18th, 2009 | #
I hope this has an effect on my college aid!
July 18th, 2009 | #
I hope it really does help, college is killing me right now.
July 19th, 2009 | #
great. i hope this will help me, too!
July 20th, 2009 | #
this is awesome to hear. goood news
July 20th, 2009 | #
Interesting.
July 21st, 2009 | #
Get to know someone in your school’s financial aid office. They’re usually willing to help guide you through the process and can be a great resource.
July 21st, 2009 | #
Im hoping that if will help with college funds
July 22nd, 2009 | #
Hope this will assist with college aid
July 22nd, 2009 | #
as a parent this is great news if it all pans out as it appears..
July 22nd, 2009 | #
This was very informative. I’m glad I read it!
July 22nd, 2009 | #
what i think they should do, is not only raise the financial aid we get, but also lower the tuition in universities so that we dont have to stress out on trying to find out how we are going to pay for it.
July 22nd, 2009 | #
It helps, but its not enough for a local credible college for my area.
July 22nd, 2009 | #
That’s extremely interesting news. Two questions though:
1. The HOPE scholarship – I’m from Georgia where the HOPE means a “free” ride to state-sponsored undergraduate institutions, and a $3,000 scholarship to private in-state institutions. The legislature has always touted this “scholarship” as a way to keep students in-state for their college years. Is this the same scholarship as the one you mentioned in your article, or is there a FEDERAL Hope scholarship as well? I’ve been back in Georgia working for a few months and haven’t heard anything about change to the HOPE.
2. Graduate Students – I gathered that these changes will certainly affect undergraduate borrowers, but what about graduate borrowers? I know that we’re still eligible for the Stafford loans (I’m currently using them to pay tuition for law school), but will the change to the Staffords affect graduate borrowers as well? The last time I checked my interest rate was sitting at 6.8% for both Grad+ and Staffords…
It would be LOVELY if these changes affected graduate borrowers as well as undergraduate!
Another change that the federal government is implementing affects the FAFSA. Most of us who’ve filled out that god-awful form have slogged through question after question of mind-numbing complexity. The President announced that they’re working on making the FAFSA easier to fill out and easier to understand for the 2010-11 academic year. I can’t wait :)
July 23rd, 2009 | #
very good to know
July 23rd, 2009 | #
Very interesting and informative! Thanks…
July 23rd, 2009 | #
my financial aid guy is awesome
July 23rd, 2009 | #
I agree that tuition is way too high for a lot of people to be able to afford. i know i wouldnt be able to keep my self out of a crazy ton of debt if i didnt have my full time factory job. but even with my job i still end up having to get loans for every semester.
July 24th, 2009 | #
THIS IS A GOOD IDEA TO HELP AT THE STUDENTS THAT WANT CONTINUE STUDIN BUT NOI HAVE MONEY TO CONTINUE STUDIE
July 24th, 2009 | #
Overall, college is still a major expense(burden,stressor) for me, but I can’t do what I want without a degree. I like the change in the Tax Credit. That is really the only one that affects me. I wasn’t eligible to receive the Pell Grant money even with my parents meager income. My dad was just too honest of a man I suppose….
July 24th, 2009 | #
This is cool.
July 24th, 2009 | #
This is awesome! i need all the money i can get to help pay for school
July 24th, 2009 | #
Really need some of that money.
July 24th, 2009 | #
I think that an increase in grant amounts will encourage more undergraduates to follow up on their education.
July 24th, 2009 | #
Hope has some limitations.
July 26th, 2009 | #
THis article is very informative because my college education depends upon scolarships!
July 26th, 2009 | #
Very informative article!
July 27th, 2009 | #
Its great that they are incresing the grants and scholarships!! However if you go to an out of state college it greatly reduces your chances. More power to you if you can get extra cash!!!
July 27th, 2009 | #
GREAT FOR THOSE WHO CAN GET FEDERAL AID
July 28th, 2009 | #
I believe that even with the increase in funding for students, will this encourage colleges and universities to raise tuition? How much of a benefit will it be for the students? I have checked my financial aid for the year, however, it is not final until the state approves its budget.
July 28th, 2009 | #
school loans are necessary to have.
July 28th, 2009 | #
im really glad i read this because i never would have known. you know they say you learn new things everyday
July 28th, 2009 | #
Very good to know. Thanks for the information
July 28th, 2009 | #
Hopefully increasing Lower-class education opportunities will help bring Americas work force up.
July 28th, 2009 | #
yep this is the ticket
July 28th, 2009 | #
VERY COOL STUFF
July 29th, 2009 | #
Great information.
July 29th, 2009 | #
i have never applied anywhere before so this is great information for me. it helps me to understand the full process, so thankyou
July 29th, 2009 | #
I guess Ineed to be thankful for any amount that I can get. All the help I can get will be a blessing for me.
July 29th, 2009 | #
this really helped me out..
July 30th, 2009 | #
I agree that providing more loan money is not the answer – there should be a cap on tuition rather than sending more students into debt. BUT, for now, this is necessary, as I DEPEND on loan money and cannot afford to be refused or have interest rates increased.
July 30th, 2009 | #
wow, this is great!
July 30th, 2009 | #
I am currently trying to get more money but it seems that it is increasingly difficult to get qualified for private loans, even if you have a co-signer. My mom is helping me work through this. When you have a “gap” and need to cover it, it still isn’t easy. And the application process is still very complicated. Everything needs to be streamlined and simplified. I hope that happens soon.
July 31st, 2009 | #
valuable info!
July 31st, 2009 | #
I think it’s a great idea to increase the Pell Grants because now students have a better chance at actually receiving it!
August 1st, 2009 | #
blah. it sucks cause the determination in financial assistance leaves some college students in the dark
August 1st, 2009 | #
important info.
August 2nd, 2009 | #
good information def.
August 3rd, 2009 | #
Nice info
August 4th, 2009 | #
interesting
August 4th, 2009 | #
good idea to increase grants. more money gives students more opportunities
August 4th, 2009 | #
wow, this informed me a lot!
August 4th, 2009 | #
cool
August 5th, 2009 | #
good to know
August 6th, 2009 | #
Furthering todays education will help the future.
August 7th, 2009 | #
Interesting I like the grant idea.
August 8th, 2009 | #
I need some scholarships…somehow I don’t qualify for them. I filled out my FASFA (FAFSA? idk.) and they say my parents are making too much money to qualify for low-income scholarships even though my mom is in the hole. It makes no sense to me so I guess the only route for me to go is to keep on taking out loans. Transferring wasn’t the best option i guess…I had a full ride to my previous school but they didn’t have my major.
August 8th, 2009 | #
Wish my dad would pay attention to this type of stuff. He automatically assumes it doesn’t matter for us :/
August 8th, 2009 | #
This is great news. My school told me the same thing. I am excited to see how things will change for me.
August 10th, 2009 | #
Good to know. Thanks!
August 10th, 2009 | #
good news. i wish it was easier to be applicable for a pell grant.
August 10th, 2009 | #
Hello Marley,
Be sure to sign up to be a ScholarshipPoints member at http://www.scholarshippoints.com.
August 10th, 2009 | #
i dont live with my mom, she wont help me pay for school, and i work about minum wage, and i still cant get financial aid because she makes to much money…wheres the help for ppl like me
August 10th, 2009 | #
This is good news. Hopefully I am eligible for some of this…
August 11th, 2009 | #
sounds like a good plan
August 11th, 2009 | #
Interesting
August 11th, 2009 | #
we always need more financial aid!
August 11th, 2009 | #
These changes are necessary. College tuiton is upped every year and it just gets harder and harder to get accepted in this economy.
August 11th, 2009 | #
These changes are necessary. It’s harder to get into college every year now that tuitons are gradually rising.
August 11th, 2009 | #
it’s not a vad thing the pell grant but people who go to community college for two years don’t need that much. I know people who are going to my local community college who recieved four thousand dollars a semester due to the pell grant because his mom is a single parent.. yet he is only going to coastal for two years?? that just doesn’t make sense to me thats extra money the government is giving him just so he can spend it on other stuff. Yes he is going to college at coastal but only using well less than two thousand of it each year!!
August 12th, 2009 | #
glad pell grants increased
August 12th, 2009 | #
I still need more money even after all my loans. Where do I go from here?
August 12th, 2009 | #
Hello Haley,
After you exhaust scholarships, grants, and federal loans you have private loans. Those will most likely need a co-signer, but they are offering low interest rates at this time on private loans. Apply now.
August 13th, 2009 | #
What I find remarkable is that there is so much money out there but a lot of it is inaccessible to those in dire need of it. Most “free money” out there is only for certain people so that leaves others with the burden of college expenses.
August 14th, 2009 | #
This is good news! I’m going to need all the help I can get.
August 14th, 2009 | #
Gret Information!
August 14th, 2009 | #
This is great news, the more to help out, the better.
August 14th, 2009 | #
Thanks for the info. Hopefully this will make it easier to attend college.
August 14th, 2009 | #
this is incredible such good news. i am a student receivin financial aid and these options and awards r just wonderful. i hope that my financial letter is 1 of the letters that state i am receivin more aid. thanks obama
August 14th, 2009 | #
This is great news. The more help with the rising costs of school – the better!
August 15th, 2009 | #
This is GREAT news as I am an out of state college student from a low income family. I greatly appreciate the changes.
August 15th, 2009 | #
My son just found out that the college he goes to has run out of Federal Work Study money. He’s on a waiting list to get a work study job for the upcoming school year. He will be a junior. There was no problems with Federal Work Study money his Freshman and Sophomore years.
August 15th, 2009 | #
This really helps
August 17th, 2009 | #
i think that the increase in money for these areas mill greatly improve the number of students having the ability to go to college but in my situation we all know that times are tough and well what doesn’t help is that the tuition prices went up as well.. so reality is that there isn’t a whole lot of change… but on the other hand its good to know whats going on with the money for school situation.
August 17th, 2009 | #
If i receive more financial aid this year,i would decrease the amount of loan that i borrow; unfortunately, i received less financial aid this year. That’s why i am trying to look for some scholarships
August 17th, 2009 | #
Although the additional assistance sounds like an improvement, it is still necessary for many applicants to apply for personal/educational loans.
August 18th, 2009 | #
There are always problems and solutions when it comes to finances and politics. This increase in spending that Obama has placed upon the U.S. seems to have an adverse effect on the amount of american money used in the world. It will be just fine for the college students of today, butI can’mt help but feeling that this spending will inflate more problems in the future
August 18th, 2009 | #
I still need more money.
August 19th, 2009 | #
Great news!
August 20th, 2009 | #
I hear you
August 20th, 2009 | #
very very good to know.
August 20th, 2009 | #
Even with scholarships, grants, and loans I still need to pay $1,750 per semester.
August 21st, 2009 | #
I don’t qualify for a pell grant, which really confuses me. I am wondering what the qualifcations are for these grants, and the policies that facilitate them.
August 21st, 2009 | #
If college costs weren’t so high, many more people would be attending.
August 21st, 2009 | #
My parents make enough money for me to not qualify for financial aid, but they don’t help out with my college education expenses at all. Yeah, I know it’s selfish, but sometimes I wish I was poor so I didn’t have to pay as much for college.
August 21st, 2009 | #
This are important updates. Glad to have come across this or else I wouldn’t know what has changed.
August 22nd, 2009 | #
i really like the fact that most of the scholarship amounts have increased
August 22nd, 2009 | #
this is very informative
August 22nd, 2009 | #
I didn’t qualify for a pell grant or really any grant because I was a few $ off :(
August 22nd, 2009 | #
Finicial aid is hard for me to receive because my parents make too much and either way im not gettin any money so it sucks for me
August 23rd, 2009 | #
I’m glad I read this! Very useful!
August 23rd, 2009 | #
This is good news but I haven’t received anything more (honestly i’ve received less for this year than my past two), and it doesn’t help the my college’s tuition increased this year.
August 24th, 2009 | #
omg is this true
August 24th, 2009 | #
good to know!
August 25th, 2009 | #
wow, this is REALLY good information. I appreciate to the person who wrote this. Thank you. I’m going to show this to my friends too :) !!
August 26th, 2009 | #
Interesting info
August 26th, 2009 | #
I do believe that student loans are helpful, but it doesn’t make any sense. If you have the opportunity to earn a scholarship, then why not take it. You don’t have to pay back a scholarship or grant, so why would you want a loan that you will have to pay off and increase your debt if you don’t pay it off in time?
August 26th, 2009 | #
Thank god for Obama!!!
August 27th, 2009 | #
Thats awesome info. Good to know.
August 27th, 2009 | #
wow this is really interesting…
August 29th, 2009 | #
This is very true and informative.
August 30th, 2009 | #
this is very true and informative
August 30th, 2009 | #