College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider




"Best Practices" for New Act
 
"Best Practices" for New Act
The 2006 Deficit Reduction Act has left little time and much work for lenders and administrators.

Fortunately, an industry group has published several guides to fully explain the changes and how they will affect student loans.

These question-and-answer documents are approved by the National Council of Higher Education Loans Programs and the Student Loan Servicing Alliance, among other organizations.

The documents include many helpful guidelines provided by experts in different parts of the student loan industry.

As the language of the Deficit Reduction Act is will require careful inspection and responsible interpretation by student loan-industry professionals, administrators are advised to await complete instructions from the Department of Education. However, the “Best Practices” guides give good advice for the interim.

BP Scholarships Total $2M
Residing in and around New York, 80 recent high school graduates and returning college students will be awarded with $112,000 in scholarships by BP America, in partnership with operators of BP retail outlets. The scholarships are awarded to a diverse group of students based on academic performance, personal essays, work experience, individual goals, extra-curricular activities, and demonstrated financial need.

Providing more than $2 million for nearly 1400 scholarships to students in Manhattan and Long Island, the BP Community Scholarship Program is now in its 18th year. The program also operates in major BP markets in Chicago and Washington, D.C.

House Brings New HEA Bill
The House Committee on Education and the Workforce introduced another short-term Higher Education Extension Bill, H.R. 5603. The bill was introduced for purpose of extending the date of programs under Section 2(a) of the Higher Education Extension Act of 2005 from June 30, 2006, to September 30, 2006.

Cited as the Second Higher Education Extension Act of 2006, the bill has been critically analyzed by some student loan communities who complain that rectification of the PLUS interest rate discrepancies was not incorporated in the bill. The exclusion of the provision may have been due to Democratic objections.

Bush Signs Single Holder Repeal
On Thursday night, President Bush out his signature to the Emergency Supplemental Appropriations Act, H.R. 4939, effectively ending the single-holder rule for student loans.

Now, borrowers who have student loans with just one Federal Family Education Loans Program (FFELP) lending company can choose to consolidate those loans with another FFELP lender.

The repeal is effective immediately.

UT Finaid Going Unused
According to a recent report in the Deseret Morning News, an estimated 50 percent of federal and state financial aid and scholarships available to Utah college students is not being used.

Utah college financial aid administrators stated that scholarships can be difficult to find, and obtaining Pell grants can be problematic for many college hopefuls. Al Church, principal of the Academy of Math, Engineering and Science High School in Cottonwood Heights, was quoted as saying that low-income students are scared off by the possibility of accruing high amounts of student debt. The report also noted that the ratio of high school counselors to students is around one counselor per 500 students.

Money for WV Miners
As of this month, mineworkers in West Virginia may be eligible to receive as much as $1,000 per family for college, vocational training programs, or career counseling. The Diocese of Wheeling-Charleston announced the scholarships.

Catholic Community Services created the Miners Relief Fund to memorialize the 12 mineworkers who died in the Sago Mine tragedy in January 2006. One purpose of the fund it to support the educational needs of miners and their dependents.

Thousands of West Virginians have contributed to the fund so far.

To be eligible, applicants must be West Virginia residents who work in mining or who have worked at a mine within the last year.

Experts also noted that supporting education for mineworkers would have an uplifting effect on the fragile local economy. Now, only 15.3 percent of adults in West Virginia hold bachelor’s degrees.




 


Article Title : "Best Practices" for New Act
Comment not found for this article.
 
Comment


Share this story:
  • BlinkList
  • blogmarks
  • del.icio.us
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz
 



EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
Thanks to Law School Loans and my above-par loan counselor, I know where to go if I ever have questions about my student loans again! Thank you so much, you've been very helpful and have helped to make my "financial situation" a little more bearable!
- Shannon P.  Chicago, IL
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
CONSOLIDATION NEWS
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
CALCULATORS
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Articles
Calculators
FAQs
Glossary of Terms
Loan Comparison Chart
Scholarship Search
Our borrower-benefits package is designed to help you save by reducing your interest rate by 1.25%. Using auto-debit to make your monthly payments will ensure you make on-time payments and thus help you toward the goal of 36 on-time payments, guaranteeing you thousands of dollars in savings.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2016 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
EDFED NEWSLETTERS
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives