8 Happy—and 3 Scary—Trends in Financial Aid in 2010

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It is a shame that banks would make so much money from students that want to better themselves for a better future. My daughter is paying loans that have a 13.75 and 11.75 interest through Sallimae, and the worse part of it is that she had great credit history, so did I. That's why the Government should control banks and so they stop robing from students. It makes me sick to my stomach, and the worse part of it, is that there is no way to control it. Besides, if parents aren't checking their kids payments, they should, because they send doble payment stabs at different dates, also duplicate month dates. So, if you care about your kids going to college, make sure you help them check their loan payments. I am on top of it and cought two discrepancies, one; the month was duplicated and the other one; the payment was duplicated. When I called Salliemae they confirmed and took her from being late in payments.
Sick world of the powerful that have no problem stealing from young people or better yet, from all people.

Tabita Nelson of FL 12:28PM April 03, 2010

Too all the people in these posts who keep mentioning race in these posts. Please look around colleges and your offices when you go to work. How many minorities do you see? If you would stop being irrational and worry about educating yourselves instead of whining about minorities then maybe you will get somewhere. Quit blaming your own inequities on minorities.
To the issue of money for college. It is a wonder that with the amount of taxes we pay that we don't have more federal money for college. Our country has misallocated the use of our tax dollars for years and now it is coming back to haunt us. Until we start investing our federal dollars where it should be invested in education, healthcare, and infrastucture it will only get worse. This problem didn't just happen over night. Everyone was too busy drinking the wall street koolaid to realize what has been happening.

Wakeup of IL 11:06PM February 16, 2010

To the dad making 25K. 35 years ago it was the same as it is now; it happened to me; my dad made "too much" even though he lived paycheck to paycheck. So, I took a year off, worked, saved and to this day am still proud that I can say, "I put myself through college." The difference today is the ridiculous cost of college. I only had to take out a total of 5K in loans to make ends meet, but, today, making ends meet for a do-it-yourselfer will require 100K in loans or more! AND even worse, is that a bachelors is worth much less in the job market than it was way back when. A BS in 1980 = MS in 2010.

terri of PA 4:30PM January 29, 2010

To the dad making 25K. 35 years ago it was the same as it is now; it happened to me; my dad made "too much" even though he lived paycheck to paycheck. So, I took a year off, worked, saved and to this day am still proud that I can say, "I put myself through college." The difference today is the ridiculous cost of college. I only had to take out a total of 5K in loans to make ends meet, but, today, making ends meet for a do-it-yourselfer will require 100K in loans or more! AND even worse, is that a bachelors is worth much less in the job market than it was way back when. A BS in 1980 = MS in 2010.

terri of PA 4:30PM January 29, 2010

Not everyone can have a college degree. It's just a fact of life. Why are we wasting so much taxpayer money giving low-lifes money for college is what I want to know.
I know several people who have been fired from so many jobs and they no longer have a decent reputation around here. Nobody wants to hire them anymore. And what do they do? Rape the federal government and get free money to go to college. Yea, let's send those kinds of people to college and let them hold the upper level positions in our economy later down the road.

John Stanton of TX 9:42PM January 27, 2010

I make less than 25K a year take-home pay, which is above poverty level, I understand. Just because I work (my wife doesn't because of the economy around here), I'm white, my father or grandfather wasn't a POW, I'm not from a tiny island in the south Pacific, and my wife doesn't stay knocked up, I can't get a scholarship for her. Not even a measly $100 grant from the FAFSA.
I break even every month and I do not live a lavish lifestyle by any means. Living paycheck to paycheck isn't going to send my wife to school. She needs a job, I know. But with the economy the way it is, literally nobody is hiring right now; nor have they in the past year and a half around here.
The FAFSA is BS to be honest. When did good grades, good community standing, and hard work take a backseat in the process of getting into college?

Ben of OH 9:36PM January 27, 2010

What is cost if everyone paid and there was ZERO aid?

Lawrence of CT 5:00PM January 24, 2010

I spent my entire life doing the right thing. I didn't run up big credit card balances. I didn't buy a bigger house then I could afford. I didn't take out one of those dangerous mortgages. I didn't refinance all of the equity out of my house. I didn't buy a boat, a vacation house, or an expensive car. I pay all of my bills on time. My credit rating is sterling. I pay over $50,000.00 in taxes each year. I DRIVE A HONDA CIVIC. My house has ONE bathroom. My kitchen is circa 1960. My son is an honors student and I sent him to an affordable school.
So why is it that the government can lend money at near 0% interest to the financial corporations who cheated did all of the wrong things and I...who have conducted myself responsibly...has to pay (currently) 8.5% to educate my son? I am growing weary of the government taking so much of my money, and then giving it away to a bunch of crooks and then sticking an 8.5% interest rate up my a$$.
IT IS JUST WRONG
...and I would imagine that the government knows it's wrong. So I guess the government assumes that I'm stupid.
There is a limit to how much a citizen can take and I'm at the limit. I am angry. If you work for the government you should be ashamed. If you work with the government you should be ashamed.

Qball of MD 10:29PM January 23, 2010

I am a mother of two, one is out of college for which we are grateful without any debt- we did this by sending him to a reputable state school extension- with no co-signing. The other son, 9 years younger will probably do the same if we are lucky- much local extensions are filling up classes as fast as they offer them each semester. If money is even tighter than it is now my husband and I probably would not co-sign on thousands of dollars worth of loans. Not unless they guaranteed a job at the end of the journey. We don't have enough to retire right now or four years from now- and we don't want to carry our child's debt for the rest of our lives.
I do wonder what is going to happen to this country considering that there are currently so many people out of the job market and young people fresh out of high school who are getting money to go to school only to find at the end of school that they are not finding work- especially in the area of the country where we currently live. What will happen to all that debt? I know personally of three people I spoke to that had gone to school after being laid off at the advice of the state- they now have certifications, degrees, but no work- and they still have debt. And on top of that debt, what about all of the people who are being paid unemployment and extensions of their unemployment?
I wish one of the publications that I regularly read would do an in-depth article concerning this issue. If I don't see anything soon, I believe I will start doing it for no pay just to get an answer.

Michelle Donaghey of IN 5:16PM January 23, 2010

I'm a PhD student at a state university, who works as a Teaching Assistant to qualify for a tuition waiver, and get paid for it as well. I make $14,500 a year before taxes (based on a 20 hour per week work schedule teaching labs). I have a MS as well. Professors here typically get around $60,000 for starting pay, that's after spending about 10 to 15 years preparing for teaching and research at the university level, by getting their doctorate, and continuing with post-doctorate education. People have to realize that teaching at the university level is not high paying employment, and this is not where the majority of your children's tuition is going. I didn't have any student loans until I started my doctorate because my parents were kind enough to set aside about $30,000 (their combined income is just above $50,000) for my education - that lasted through 5 years of college because I chose a school with low tuition, became a resident of the state ASAP, got merit scholarships and had a job through the school for the majority of that time. College is not the right of every student in America, so parents shouldn't feel obligated to go into debt if their child isn't dedicated enough to do what is necessary to graduate.

Shannon of NY 5:27PM January 21, 2010