Financial Aid

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As California State Tuition Rises, Financial Aid Offices Struggle to Adjust

On what should have been a carefree day of reconnecting with friends and settling into new classes recently, more than two dozen students at the University of California, Berkeley, sat in uneasy silence outside the financial aid office.

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FAFSA and the Community College

Communicating the importance of applying for federal student aid

With college costs still top of mind for most families, financial aid is more important than ever. Community college leaders are especially challenged to communicate the importance of the Free Application for Federal Student Aid (FAFSA) to their student body, which appears to be less likely to apply for federal aid. According to the report "FAFSA Completion Rates by Level and Control of Institution," 58 percent of Pell-eligible community college students applied for aid, compared to 77 percent of four-year students in the 2007-08 academic year.

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University of Michigan's Coleman Donates Pay Hike To Student Travel Aid

University of Michigan President Mary Sue Coleman on Thursday decided to forgo a $15,000 salary increase and donate it to fund global student travel.

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Student Loan Default Rates Jump

The number of borrowers defaulting on federal student loans has risen substantially, highlighting concerns that rising college costs, low graduation rates and poor job prospects are getting more and more students over their heads in debt.

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Miami Hurricanes Football Gets $4.2 Million Gift--Almost 30 Years After Donor's Death

The University of Miami’s athletic program received a $4.2 million donation Thursday, the largest endowment ever for football scholarships at UM.

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Pell Grants Likely Face Cuts In Budget Talks

$5,550 annual maximum now covers less than a third of 4-year public college costs

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Institutional Loans and Related Considerations

Since the market crash of 2008, a number of private education lenders have left the marketplace. Those who have remained have not increased their lending to fill this gap and anecdotal evidence suggests that the remaining lenders have further reduced access to private education loans by tightening their credit criteria. Higher-education institutions have responded to the credit needs left unmet in the current marketplace by creating or revising their own institutional credit and payment arrangements.

Overcoming the Top Student Aid Compliance Issues

Communication with departments across campus a key to success

Complying with the growing and increasingly complex Title IV federal student aid regulations is an ongoing challenge for every campus that administers federal student aid. Performing a word count of student aid regulations in 2000 and 2010 reveals a 40 percent increase over that decade. A recent survey of financial aid administrators shows that increasing regulatory and compliance requirements are causing resource shortages in many financial aid offices.

Financial Literacy in the New Regulatory "Normal"

Best practices in campus efforts to educate students

Student financial literacy has been a growing concern, not only because of the connection to persistence and retention, but also in terms of success beyond college years that includes repayment of student loans and general fiscal responsibility in adulthood. We’ve likely all heard the stories of the $82 pizza, its price inflated by a check that bounced and resulting fees from the bank and pizza parlor. It shows the need for students to understand the consequences of spending money they don’t have.

Behind the News

The tornadoes that ripped across the South in April devastated everything in their paths. Some institutions had to close their doors before semester’s end.

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