Wednesday, January 20, 2010

Good News and Bad News on Financial Aid for Students

If you are a college student looking for financial aid and planning how to pay for college, there is some good news, but also a little bad news.

The government has made paying back a student loan a little easier. At least for those who have limited income after graduation. Your payment can be based on your income. Your student loan payment can be a maximum of 15% of your income.

Filling out your FAFSA online has gotten easier. There are fewer questions. This only pertains to the online version.

You can get up to $2,500 back in tuition when filing your income tax. Even if you don't owe tax you can still get $1,000 in cash back. This is the American Opportunity Tax credit.

If you have a financial need, your grants are getting bigger.

Are you looking to apply out of state and worried about out of state tuition? Many state colleges and universities are lowering or even doing away with a higher rate for out of state applicants.

Federal student loans are getting a lower interest rate.

Now here's a little bad news. Colleges and universities are raising their tuition. The total number of scholarships and the available money is going lower. Competition will be fierce. Get in early on these college scholarships.

>>30 ways to lower your cost of college now.
Credit Cards and College Students.

>>College Cash for Free


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