Bookbyte Blog

Posts tagged ‘student loans’

Education Dept Calls Financial Aid Applicants ‘Poor’

Yesterday, the US Education Department’s Twitter account for financial aid sent out a tweet saying “If this is you, you better fill out your FAFSA” followed by a link to their site and a screenshot from this scene from the movie Bridesmaids, complete with the caption “Help me, I’m poor.”

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Nova Scotia Throws Out Student Loan Interest

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In a move that mirrors the proposal in Oregon we talked about a few months back, Canadian province Nova Scotia has voted to eliminate interest on college student loans. The legislation is a deliberate and explicit move to remove the crippling financial burden of debt from new students as they start their careers. (more…)

5 Ways to Save Money During Spring Break

iStock_000011798346SmallThe following is a guest post written by Carl Berry. Berry is a financial writer who covers tips and tricks for saving money on travel, college expenses, and everyday items.

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This winter has brought some of the worst weather in recent memory. If you’ve been bombarded with snow, ice, and sub-zero winds — or even if you’re just tired of hearing about them — you can find some much-needed mental respite by sitting down and planning your spring break. However, before you start booking your tickets and packing your bags, be sure to start off on the right foot financially. You’re more than likely to graduate with a hefty student loan balance, which means that the better you manage your money during your college years, the easier it’s going to be to establish yourself after you don the cap and gown. Here are five ways to save money during your spring break.

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Oregon Considers Offering Free Tuition. You Can Pay Them Back Later.

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Back in the summer, the Oregon State Legislature agreed to a plan that would allow students to attend public universities and community colleges for free. In return, the student agrees to pay a small percent of his or her income after graduation.

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Scholarships Replace Parents As the #1 Payment Source for College

The amount of money parents contribute to their kids’ college education is dropping. Or, more accurately, it’s struggling to keep up. As recently as 2010, parents paid for 37% of the total money spent on college education around the country from their own income. Three years later, that amount has dropped 10%, with grants and scholarships now taking over a greater percentage of the heavy lifting.

Student Borrowing 18%, Parent Borrowing 9%, Parent Income & Savings 27%, Grants & Scholarships 30%, Relatives & Friends 5%, Student Income & Savings 11%

How college was paid for in the 2012-2013 academic year. Source: Sallie Mae

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“As Much Education As They Can Afford” — Gaffe or the Plain Truth?

Presidential candidate Mitt Romney (R)

At a rally in Virginia, Mitt Romney said that he wanted to make sure that America remains “a place of opportunity,” where “everyone has a fair shot” and “get[s] as much education as they can afford.”

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