Oct 26, 2006
EdFed News Wire

America's Top Student Loan Consolidator
Thursday, October 26 , 2006
More Grants for the Middle-Class?
By Emily Zaborniak
The middle class definitely considers its status intermediate when it comes to facing tuition costs. Most families do not make enough to pay for rising expenses but, at the same time, earn too much to qualify for certain grants and financial aid. As a result of a recent proposal made by state higher education officials, the latter circumstance may change for New England families.

The new financial aid plan would allow the middle class to gain eligibility for grants that are currently allocated to the poorest families. Additionally, students who have taken the proper courses in high school may qualify for fully funded tuition during their first two years at community college.

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Parents Unprepared for College Costs

By Emily Zaborniak

When college begins, students are not the only ones who may find themselves overwhelmed. According to a recent survey conducted by AllianceBernstein Investments, more and more parents are realizing they have miscalculated the costs of higher education. AllianceBernstein's report, "Failing Grades? American Families and Their College Saving Efforts," reveals that parents' intentions to provide financial support do not correspond with their fiscal realities. One major misstep many parents make is overestimating the amount of assistance students will receive from financial aid, such as scholarships, grant money, and loans.

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Spellings speaks on global competition and innovation

Furthering the Commission on the Future of Higher Education's recommendations to make colleges and universities more affordable, accessible, and accountable, U.S. Secretary of Education Margaret Spellings, along with Congresswoman Heather Wilson, discussed issues relating to higher education and global competition with students, education officials, and business leaders at a University of New Mexico roundtable meeting.
Proposal to change eligibility requirements for need-based state grants

Need-based MASSGrants, long since offered to Massachusetts families within the lowest income brackets, will now be extended to middle-class families, as well. Massachusetts higher education officials said that due to the escalating costs of higher education, families with incomes of $70,000 or less will become eligible to benefit from the expansion proposal depending on family size and number of college students within the family.

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