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NEWS ABOUT: financial aid

Calif. Dream Act Takes Another Step

College aid for illegals passes panel, heads to legislature

(Newser) - A California state Senate panel has approved a measure that would allow illegal immigrant college students to receive public aid. The panel’s approval of the bill, the second part of a pair of bills known as the California Dream Act, means the measure will head to the full Senate... More »

College Tuition Skyrockets Again

Students lean more on government to afford school

(Newser) - College tuition headed north yet again this fall, forcing students and their families to lean more on the federal government to get by. Thanks to punishing state budget cuts, the average four-year public school tuition leaped 7.9% to $7,605, according to the College Board, while private nonprofit colleges... More »

Feds to Streamline Infamous Financial Aid Form

Government hopes trimming FAFSA will get more aid to those who need it

(Newser) - The White House today will unveil its plan to make it easier for students to get federal aid by cutting the fiendishly complex application down to size, the New York Times reports. The FAFSA—Free Application for Federal Student Aid—is notorious for being harder to fill out than a... More »

Fall Enrollment Defies Economy

Freshman commitments hold steady, but at a cost of increased financial aid

(Newser) - Despite the recession, colleges aren't seeing the dip in freshman commitments they anticipated, reports the New York Times. The percentage of accepted students who have confirmed their enrollment at places like Yale, Harvard, and the University of Virginia and Wisconsin is about the same as last year. But it hasn't... More »

Rich Kids Get Leg Up at Cash- Strapped Schools

Admissions staff skirts need-blind rules

(Newser) - Endowments are shrinking, and kids are needing more aid—so many colleges are reluctantly giving an admissions boost to students who can pay in full, the New York Times reports. Schools are finding ways to let in more wealthy students without sacrificing "need-blind" labels: by admitting more foreign students,... More »

Obama to Push Merit Pay for Teachers in Schools Plan

Prez to push teacher merit pay, lower dropout rates

(Newser) - In a speech today before the US Hispanic Chamber of Commerce, President Obama will lay out his plan for American schools, reports the Wall Street Journal. Most controversially, the president aims to expand merit pay for teachers, a measure that Democratic teacher unions are traditionally leery of. If teachers develop... More »

Creator of Pell Grants Dead at 90

(AP) - Claiborne Pell, the quirky blueblood who represented blue-collar Rhode Island in the Senate for 36 years and was the force behind a grant program that has helped tens of millions of Americans attend college, died today of Parkinson's disease. He was 90. Pell sponsored legislation creating the Basic Educational Opportunity... More »

More Students Are Seeking Financial Aid

16% jump in requests for tuition help as economy slumps

(Newser) - A soaring number of students are requesting financial aid as a result of the country’s economic downturn, the San Francisco Chronicle reports. Some 8.9 million students filed for federal aid in the first half of this year—up 16.3% from last year. Many public universities are struggling... More »

Textbook Revolution? Free and Paperless

Pilot project offers hundreds of undergraduates content at no charge

(Newser) - The hefty cost of university textbooks now averages $900 per student each year, and financial aid can't be counted on to cover the expense. But starting in September, one publisher will be offering its textbooks online—for free, Time reports. "Nobody's satisfied with the status quo," said the... More »

McCain Pitches 'Gas Tax Holiday,' Drug, Pork Limits

Candidate lays out slate of economic initiatives

(Newser) - John McCain used a tax day appearance to propose a summer “gas tax holiday,” calling his plan to suspend the 18-cent levy “an immediate economic stimulus.” Among other economic initiatives the candidate outlined today were upping prescription drug premiums for wealthy retirees, declaring a moratorium on... More »

Ivy Aid May Hit 2nd-Tier Schools

Big scholarships could siphon top students who couldn't afford Harvard

(Newser) - It’s easy to applaud the generosity the Ivy League is lavishing on the middle class, but it could have unintended consequences, Newsweek notes. Second-tier schools and elite public universities rely on the highly talented middle-class kids Harvard and company are targeting. “Schools compete hard for those students,”... More »

Stanford Drops Tuition for Lower-Income Students

Families earning less than $100K get break

(Newser) - Tapping into its $17 billion endowment to boost financial aid, Stanford University said yesterday it will now offer free tuition—that's a $36,000 a year value—to students from families making less than $100,000 per year. Students from families that earn less than $60,000 won't have to... More »

Prep Schools' Endowments Skyrocket

Institutions aim to fund needy students, top-notch facilities

(Newser) - Endowments at the nation’s elite prep schools have exploded over the past decade, mirroring the trend at top colleges, reports the New York Times. America’s older schools have fared best: the endowment of Phillips Exeter Academy in NH has broken $1 billion, double its amount in 2002, while... More »

College Coffers Surging

A record 76 schools claim $1B or more in assets

(Newser) - Riding high on investment growth, a record number of higher-education institutions claimed endowment assets of more than $1 billion last year, USA Today reports. With the average endowment fetching a 17.2% rate of return, it isn’t hard to see why a study by a college business non-profit found... More »

Yale Joins Financial Aid Parade

Another Ivy acts to help families lighten tuition load

(Newser) - Yale will greatly increase its financial aid offerings in a plan similar to the one Harvard unveiled last month, the Yale Daily News reports. Families making between $120,000 and $200,000 ($20,000 more than Harvard's cut-off) annually will pay tuition of around 10% of income, and those earning... More »

Yale Ups Endowment Spending

Rich schools slammed for sitting on wealth

(Newser) - Yale will significantly increase spending from its $22.5 billion endowment next year—providing more financial aid and launching new research. The university will draw $1.15 billion from its endowment compared with $843 million last year. The decision comes after Yale and other top universities were criticized for sitting... More »

Harvard Offers Middle-Class Parents Help*

*And pre-empts legislation far costlier for superrich schools

(Newser) - Generosity isn't what's fueling Harvard’s new $22 million giveaway to the middle class—it’s greed, educational consultant Steven Roy Goodman writes in the Boston Globe. Harvard’s giving the extra financial aid as a PR move, hoping to squash brewing legislation that would force universities to spend 5%... More »

Harvard Steps Up Financial Aid

University with $35B endowment opens coffers to help higher-income families

(Newser) - Harvard is rolling out a new financial aid initiative intended to assist more affluent families after a series of measures designed to help lower-income students. Families making more than $180,000 a year will pay significantly less under the new rules, the Boston Globe reports, and students will no longer... More »

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