College Voice

Issue date: 3/21/07 Section: News

Media Credit: department of education

Media Credit: Kennedyforsenator.org Today as Chair of the Senate Committee on Health, Education, Labor, and Pensions

Media Credit: truthaboutted.com Senator Kennedy with his wife outside of church in 1967

Many students today find the ever increasing cost of higher education to be an overwhelming calamity with no help in sight, but fear not fretful friends help is on the way from the most unlikely of sources . . . the Federal Government. The two most popular funding programs (and easiest to qualify for) are the Pell Grant and the Stafford Loan. Together they normally provide more than enough money for the average low to middle income student to cover tuition and other school charges plus moderate living expenses.
The Pell Grant is money given by the Federal Government to deserving students that does not require repayment of any kind. The exact amount of the grant varies depending on the number of accredited hours that are being taken, the number already completed, and the actual financial need of the student. President Bush recently signed into law legislation that will raise the maximum Pell Grant award by $260, giving this student aid program it's first increase since 2003. This law will go into affect July 1, 2007. "The President's proposal to cut outrageous lender subsides and redirect those funds into a long-overdue increase in the Pell Grant shows how a Democratic Congress is changing the nation's priorities," said Sen. Edward Kennedy (D- Mass.). Senator Kennedy has served on senate education committees for over 30 years and is considered the Democrats' patron saint of education reform.
The Stafford Loan is usually applied for at the same time (and with the same paper work) as the Pell Grant and is completely optional. Stafford Loans are Government subsidized loans offered by several participating lenders at lower interest rates than other types of loans. The Democrat led House and Senate passed legislation in 2007, cutting the interest rates on these loans in half by 2011 to 3.4%.
There are several basic requirements for applying financial aid. First (until the Dream Act passes), all applicants must be either a U.S. citizen or an eligible documented non-citizen. You must also posses a high school diploma or General Education Development (GED) certificate and must be either currently enrolled in or accepted to an accredited institute. Applicants will also have to prove a financial need and you may have to provide the appropriate Internal Revenue Service documentation. Applicants must also have a valid social security number and if male have registered for selective service upon turning eighteen.
Contrary to popular belief, a drug conviction does not automatically disqualify you for consideration. A conviction that was not in the country, happened before your eighteenth birthday, that was expunged from your records, or occurred during a period when you were not receiving Federal Student Aid do not count.
For more information about federal student aid, visit the website www.federalstudentaid.ed.udu or call 1-800-433-3243.Copies of The Guide to Federal Student Aid are available in the Financial Aid Office in the Enrollment Center.

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