The advent of e-mail has probably made communicating with colleges too convenient. Schools are getting deluged with questions that the answers can easily be found on the website. By asking these types of questions shows that you have not done your research about the college and can leave the impression with the admissions counselor that you are not really that interested in attending.
One way to avoid making this type of mistake is to print out all the Frequently Asked Questions you come across on the website. They can be found in admissions, financial aid, academics and just about any other section of the college website. File these FAQs in a folder that you have set up for college information and then review them before asking a question via e-mail or phone.
Homer Sweeney
Monday, February 25, 2008
Sunday, February 24, 2008
Reasons For Selecting A College
Current college freshman are more concerned about academic quality and affordability than they have been in decades. Sixty-three percent of students said academic reputation was a very important factor in selecting a college, an increase of 5.6 percent points from 2006. Thirty-nine percent cited financial-aid offers as key in their selections, a rise of 5.1 percentage points. And 52 percent listed "graduates get good jobs" as a top reason for their college choices, up 2.6 percentage points.
More than 270,000 freshmen at four-year institutions completed the annual survey conducted by the Higher Education Research Institute at UCLA.
More than 270,000 freshmen at four-year institutions completed the annual survey conducted by the Higher Education Research Institute at UCLA.
Like To Play With Rocks? Here's A Major For You!
With energy prices soaring and many oil company employees retiring soon, petroleum-engineering graduates are in demand. Top ranking petroleum-engineering graduates this year can expect starting pay of $80,000 - $110,000 plus signing bonuses and other benefits. Geologists, the people who study rock formations in search of oil, also have seen their starting salaries rise. The average starting salary for a geologist fresh out of school is $81,300 up 48% in five years from $55,000 in 2003.
Stanford Boosts Financial Aid
Stanford joined many other elite universities to boost financial aid to middle and upper-middle-class families.
A summary to the new provisions:
1) Parents earning under $100,000 don't pay tuition.
2) Those earning under $60,000 don't make any contribution to the cost of the child's education which means free room and board.
3) Loans eliminated from financial aid packages.
4) Amount of home equity considered in needs assessment capped at 1.2 times annual income.
A summary to the new provisions:
1) Parents earning under $100,000 don't pay tuition.
2) Those earning under $60,000 don't make any contribution to the cost of the child's education which means free room and board.
3) Loans eliminated from financial aid packages.
4) Amount of home equity considered in needs assessment capped at 1.2 times annual income.
Monday, February 18, 2008
Student Loans Hit By Subprime Woes
The recent sub prime mortgage crisis will soon effect students who rely on college loans, according to a recent report by financial aid guide FinAid. Furthermore, all student borrowers, not just sub prime borrowers, will see tighter lending methods.
Some problems could be the need for higher credit scores to get student loans along with higher interest rates on those loans. Major lenders will become more selective when granting loans.
As early as last July, student loans and other asset-backed securities felt the sub prime market's effects along with the mortgage world. Investors are becoming skeptical of the rising number of default and foreclosure rates.
Also, lender subsidy reductions as a part of the College Cost Reduction and Access Act passed in 2007 have made federal and private education loans less profitable for lenders. This will likely cause lenders to pass this burden on to the borrowers.
Expected changes from this sub prime crisis are:
1) Overall private student loan interest rates will be dramatically higher.
2) To qualify for a private student loan, a borrower will need to have a credit score of at least 650, a jump from the previous 620.
3) An elimination of borrower benefits.
4) An increase in minimum balance requirements for loan consolidation.
According to FinAid, you may also expect several changes to federal student loan policies. Expect that loan consolidation will be discouraged, maximum balances for loan consolidation will increase upwards to around $10,000, and loan discounts will be reduced.
Recently investors have been walking away from investing in student loans which means a drought will be forthcoming this fall in relation to the availability of student loans. Lenders are also expected to focus most of their marketing on private student loans and away from federal loans, costing borrowers more.
Keith Landis
Some problems could be the need for higher credit scores to get student loans along with higher interest rates on those loans. Major lenders will become more selective when granting loans.
As early as last July, student loans and other asset-backed securities felt the sub prime market's effects along with the mortgage world. Investors are becoming skeptical of the rising number of default and foreclosure rates.
Also, lender subsidy reductions as a part of the College Cost Reduction and Access Act passed in 2007 have made federal and private education loans less profitable for lenders. This will likely cause lenders to pass this burden on to the borrowers.
Expected changes from this sub prime crisis are:
1) Overall private student loan interest rates will be dramatically higher.
2) To qualify for a private student loan, a borrower will need to have a credit score of at least 650, a jump from the previous 620.
3) An elimination of borrower benefits.
4) An increase in minimum balance requirements for loan consolidation.
According to FinAid, you may also expect several changes to federal student loan policies. Expect that loan consolidation will be discouraged, maximum balances for loan consolidation will increase upwards to around $10,000, and loan discounts will be reduced.
Recently investors have been walking away from investing in student loans which means a drought will be forthcoming this fall in relation to the availability of student loans. Lenders are also expected to focus most of their marketing on private student loans and away from federal loans, costing borrowers more.
Keith Landis
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