Financial Aid

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How financial aid admins can help curb crippling student debt

Despite news headlines depicting students with six-figure debt levels, the average student borrower’s debt burden is not necessarily devastating. Among graduates in 2011 who borrowed to pay for higher education, the average loan debt at graduation was $26,600. Only 1.5 percent of borrowers owed $100,000 or more in 2007-2008.

Debt defense: How financial aid administrators can help curb cases of crippling student debt

Aid administrators should be able to set borrowing levels for students

Despite jarring news headlines depicting students with six-figure debt levels, the average student borrower’s debt burden is not necessarily devastating.

Among graduates in 2011 who borrowed to pay for higher education, the average loan debt at graduation was $26,600, according to the Project on Student Debt. Only 1.5 percent of borrowers owed $100,000 or more in 2007-2008, according to an analysis by Mark Kantrowitz, publisher of Edvisors Network.

Lynn Russo Whylly's picture

Washington & Lee offers free tuition to those who qualify

Through a new financial initiative, administrators at Washington & Lee University, a small private college in Lexington, Va., said that, starting next fall, they will guarantee free tuition for undergraduate students whose family income is lower than $75,000.

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Meeting the Financial Literacy Imperative

Helping students understand their debt and teaching money management skills should be a priority for higher ed institutions

As the average student loan debt rises, financial literacy is essential for graduates to successfully manage their post-college lives. Some institutions are going beyond just educating students about tuition payment plans and federal financial aid options. Others, like Creighton University (Neb.) are offering full financial literacy programs to educate students on money management during the college years, and more importantly, beyond.

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Why the government must play an active role in higher ed finance

College is expensive, and the government’s attempts to help make college more affordable for students has likely driven up prices even more. But there is a solution: Rather than remove itself from higher education, as many libertarian economists have suggested, we actually need—and want—the government to play a larger and more prominent role.

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10 tips for working effectively with the financial aid office

For a school to operate at peak efficiency—and best serve students—it is necessary for various administrative departments to understand the purpose and daily operations of other offices. In particular, the activities and regulations that impact the financial aid office can have widespread effects on the rest of the campus. With that in mind, here are 10 tips to help all departments work cohesively with the financial aid office.

Lynn Russo Whylly's picture

Why colleges should care about student loan debt

Student loan debt is topping $1 trillion, and borrowers aren’t the only ones with reason to be concerned. While higher education leaders aren’t responsible for the loans, they also have a stake in getting rising debt and default levels under control.

10 tips for working effectively with the financial aid office

Shared goals and open communication can make everyone’s job easier.

For a school to operate at peak efficiency—and best serve students—it is necessary for various administrative departments to understand the purpose and daily operations of other offices. In particular, the activities and regulations that impact the financial aid office can have widespread effects on the rest of the campus. With that in mind, here are 10 tips to help all departments work cohesively with the financial aid office:

Access and success addressed at NASFAA’s annual conference

Exploring critical financial aid and program funding issues and solutions

Casual observers of the 2013 National Association of Student Aid Administrators conference in Las Vegas this summer may have felt as if they were seeing double, with all the talk of “prior-prior year” income tax.

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Congress still has more to do to ease tuition and debt burdens

Although Congress congratulated itself for reaching a compromise on student loan interest rates before adjourning for its recess earlier this month, some Connecticut college students and educators said that lawmakers still have more to do when they return in the fall.

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