Obama administration student loan proposal in hot water

March 11, 2009

Are we in hot water concerning the Obama administration's proposal for student loans?

First and foremost, the key is positioning of both student and assets to capitalize on what is available. Understanding the intricacies of how the financial aid system works will give you that slight edge and it will make a difference.

Okay here are the highlights on the proposal:

  • The Obama administration has proposed the broadest overhaul of federal college aid programs in decades
  • Congress still has to vote and approve it
  • The earliest the change could take effect is July 2010
  • Pell Grant maximums would increase from $4,731 to $5,550
  • Perkins/Stafford loan amounts would increase 
  • Qualifications for these loans would lax allowing more to qualify
  • Due to higher number of qualified applicants, deferred subsidization would be eliminated

Article in the New York Times  What's in the New Student Loan Proposal

Learn the intricacies of how the financial aid system works at a local workshop. Click the RSVP workshop button for dates and locations.

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