Paying for College

July 1st marks the first of a series of cuts in the interest rate for federal student loans. The first decrease will drop rates from 6.8% to 6%. Ultimately, interest rates will be cut to 3.4% by the year 2012.

The average student borrower will save approximately $2,600 over the life of the loan based on the changes that go into effect on July 1, 2008. Other changes to the current system include an increase in Pell Grants and an Income-Based Repayment program. Financial Aid to teachers who commit to high-need subject areas are also eligible for loan forgiveness.

All of these improvements are thanks to the passing of the College Cost Reduction and Access Act which was recently signed into law. This law focuses on making college accessible to all Americans, regardless of their socio-economic background. It is an investment in the future of the country.

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Facebook has become both a social giant for college students and a marketing giant for colleges and universities trying to recruit them. The State University of New York College at Plattsburgh hired a public relations firm to create a Facebook application which allows them to reach potential students outside the areas they normally target. With a relatively low cost to the college, the application which challenges students to send in viral type pictures and video may catch on and prove a good move by the small college. The ultimate hope is that prospective students will see the sights and sounds of Plattsburgh which may ultimately peak their interest and get them thinking about attending a college they otherwise may never have thought about before.

SUNY Plattsburgh is not the only university that is using Facebook to attract students. Many other colleges and universities are creating applications to appeal to the masses.

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For many college students, the opportunity to study in another country is a once in a lifetime experience.  Whether it is the chance to study your chosen profession immersed in an environment that doesn’t exist in this country or perhaps you just want to get some life experience by traveling and seeing the world, studying abroad has become an extremely popular avenue for many students.

The dollar is down about 20% against the Euro and about 6% against the Pound.  Europe has traditionally been a top destination for students but is seeing a decline due to the drop in the value of the dollar.  Countries in Asia, Africa, and South America have become a much better value for those looking to study abroad.

The most recent numbers indicate that nearly 250,000 students participated in the program during the 2005/06 calender school year.   While each college has their own set of rules and regulations for studying abroad, there are a few very helpful sites to check out for more information.

-Allows you to search by location, discipline, and more

www.petersons.com/stdyabrd/us.html

-Guide broken down into 5 parts for students

www.handbook.iiepassport.org 

-Blog written by students that shares their experiences

www.blogabroad.com

-Links to personal accounts and tips on how to pay for your trip

www.nafsa.org/students.sec/studying_abroad_from

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