Student Loan News

The news has been abuzz recently with stories about student loan interest rates (and Congress's struggle to deal with the issue), but a tentative agreement was reached late yesterday.  Here are several other stories that I think have value.

1.  Tips For Minimizing the Pain of Student Loans from the Huffington Post Education section - http://huff.to/15jCQW8

2. Comparing Two Different Ways to Pay Off Your Student Loans from USA Today - http://usat.ly/13QKv1l

3.  The ABC's of Federal Student Aid - a glossary of terms from the US Dept. of Education - http://1.usa.gov/13DEHJK

And while I'm thinking about it, here is the list of Best Flagship Universities for the Money from the 2014 Fiske Guide. 

A College Scorecard

The U.S. Department of Education's College Affordability and Transparency Center offers  pertinent information about the cost and value of individual colleges.  If you type in a school's name, you can find the average net price (that is, the average price for students after grants and scholarships), along with the loan default rate, the median amount borrowed, and the overall graduation rate.  There are also additional search options if you would like to look for schools based on specific majors and careers, campus settings, and size and location. 

Colleges are also required to post a net price calculator on their websites that allow you to enter simple information about your college plans and your family's finances in order to get an understanding of the financial aid you might receive/what you might be expected to pay.  Remember however, this is only an estimate.  You can access the net price calculator for individual schools through the U.S. Department of Education link mentioned above.

New Tuition Model at the University of Tennessee Knoxville

In an effort to make sure students graduate in four years, UTK is making some changes to their tuition structure.  Students will now be charged for 15 credit hours per semester, even if they only take less than that.  The goal is to encourage students to complete their degree in four years, and by taking 15 hours each semester they should be able to accomplish that. It would also mean a savings of over $20,000 for their families.

For the full explanation, visit: http://finaid.utk.edu/costs/new-tuition-model.shtml