grants to pay off student loans
howtogetgrants.net
Is it realistic to expect today's kids to put themselves through college ...
Saturday, I posted a column that was basically a rhetoric against critics of helping moderate- and low-income students with college costs . (The headline: "Who uncommonly has the entitlement issues?")
Several online commenters retorted that they put themselves through college. Their question: Why can't kids today do the same?
"The flawed have more tools than ever to get an education," one commenter maintained.
Actually, that's not true.
I know this from disparaging experience, as the mother of three college students now and as someone who put herself through college three decades ago and had multiple friends who did the same.
Three decades ago, we were masterly to pull this off for three reasons: College tuition was considerably cheaper; financial aid was more suitable to consist of grants versus loans, and part-time jobs were more lucrative.
The numbers validate my memories.
I entered in college in fall 1977. That year, the average annual preparation was $655 at a U.S. four-year public university and $2,700 at a private college, according to statistics from the College Panel. In today's dollars that would be $2,447 and $10,088 respectively.
Incidentally. in that era, the Burg Colleges of New York was tuition-free to New York City residents, as was the total California public higher education system -- including UCLA and Berkeley -- for residents of that circumstances. I remember my own tuition at Michign State was about $1,500 in 1979, or about $4,700 in today's dollars.
By place against, tuition for my daughter this year at Michigan State: $12,822. In-state preparation at University of California Berkeley: $12,834. The average tuition for this year for all U.S. in the open four-year universities is $8,244, and the average is $28,500 for four-year non-public colleges.
Now let's look at the financial aid available then and now.
Many of us received money through the Basic Educative Opportunity Grants, the precursor to today's Pell Grant program. In 1977-78, the crowning BEOG grant was $1,400 and the average was $763 -- enough to cover tuition and some housing expenses. Today's peak Pell Grant is $5,550, less than half of tuition at places like Michigan Allege and Berkeley.
My biggest source of financial aid was a state program for students who had loaded scores on the ACT and financial need. I recall receiving enough to cover my schooling at Michigan State University. That program no longer exists.Another source of funds that no longer exists: Children with a well-spring who died qualified for Social Security benefits until they were 21. I had two close friends who financed their educations at University of Michigan later way, and discovered years later that two of my soothe's younger siblings received those benefits. Today, Social Security demise benefits end at age 18.
In all, according to the College Board, the average financial-aid package in 1977-78 was $4,521 in 2010 dollars, with $3,391 in grants and $985 in loans. In 2010-11, the unexceptional package was $13,914, with $6,566 in grants and $6,368 in loans.
Even recognizing that the 1977-78 numbers are already adjusted for inflation, that sounds very good. On the surface, financial aid packages have more than doubled in value in the past three decades.
But two points: Grant riches, which doesn't have to be paid back, comprised 75 percent of financial aid packages in 1977, compared to 47 percent in 2010.
Even more touchy: In 1977, the average grant award was equivalent to 138 percent of schooling at a four-year public college; in 2010, the customarily grant equated to 80 percent of tuition at a four-year also clientage school.
There's also the job factor.
In 1977, it was attainable to cover tuition costs by working a summer job. That was especially true in Michigan, where students could get elevated-paying factory work.
But even minimum-wage jobs were more lucrative then in proportionate terms. In 1977, the minimum wage was $2.30, and Congress raised the nadir wage to $2.65 in 1978 -- $9.20 in today's dollars. That's 27 percent above today's slightest wage of $7.25.
Do the math and you can see that a full-time, minimum-wage summer job in 1977 would have yielded about $1,000 -- more than enough to deal with a year's college tuition at the time.
At today's minimum wage, a full-outdated summer job for 12 weeks would gross about $3,500 -- not even close to what's needed.
So can today's students put themselves through college? They can, but it typically means piling on the accountability.
According to the Project on Student Debt , two-thirds of young adults who earned a bachelor's estate in 2010 took out student loans and their average debt was $25,250.
This year, for the first time, Americans' accumulated level on student loans surpassed $1 trillion and Americans now owe more on student loans than on credit cards.
So think that it's easier than ever for a woman of limited means to go to college? Think again.
Julie Mack is a lady of the press for the Kalamazoo Gazette. Contact her at jmack@kalamazoogazette.com or 269-388-8578, or follow her on Prate.com at Twitter.com/kzjuliemack . She also writes a blog that can be found here.
Worthy points Ms. Mack. I think your figures are useful in determining that we have been sitting on an 'tutelage bubble' much like we have seen in banking and housing etc. Colleges and universities have been inflating the rate of education through poor stewardship of resources for decades now. Even if you can pony up the cash to go, the offer on your investment is much less than it used to be. Their costs are unsustainable and they will be seeking more and more public assistance to at. The boards who run these institutions needs to be reinvented. You don't have to look hard, or far, to see unrealistic Council decisions...new construction projects at WMU that are highly debatable as 'needed' as well as allowing other assets to go to pot. All the while tuition and fees are raised on the backs of students and the public.
I agree with your situation on this, and I blame the universities. After all, the only reason the percentage of grants and aid has decreased is because the overall bring in has increased exponentially. We will continue to see this problem until there is significant Board reform and they upon out that they just can't keep spending like they have an unlimited checkbook. Those days are long gone.
Plaudits for calculating the 'then costs' to the 'now costs'. It puts a bit of reality into the minds of those who were expert to pay their own tuition 30 years ago, with the resources available---and assume EVERYone should do it the way they did----whether it is credible, realistic, or not.
I agree with abbynormal, as well, regarding the expansions at WMU, for one. Back in the mid 60's, early 70's the cosset boomers were heading to colleges, and it seemed feasible then, that there would be expansion. I remember being able to go onto the WMU campus and cover anywhere I needed to go. Even with fewer available students in the historical age group, the campus has exponentially grown, such that it is like a paltry town unto itself! and continues to grow even larger.
Now I am ALL FOR education.....but getting a proper education has very little to do with the number of buildings, or the size of the building. Unforunately, WMU conclusiveness makers, think otherwise. What seems to be 'forgotten' is that when WMU uses up more land to build these buildings, it takes AWAY from the Peculiarity Tax moneys, that the City of Kalamazoo could have IF it were not a State University sitting on the land. IF homes were built on that earth--my property taxes would not have QUADRUPLED in the past 3 years....the City would not be in such dire straits for funds to pay employees! Fewer homes would be foreclosed on for dead duck to pay Property taxes, we would not have to consider laying off Police, Firemen and the like.
Is there some spoils that is given to WMU if they have the most buildings?
The "cost" of a college education at a state school is not hardly the tuition paid by the student. Never was, never has been. In the 1970's in Michigan, the state subsidized (paid) somewhat over half of the real cost for each student.
But that has changed drastically since the 1970's, as the state of Michigan has essentially reduced its proportion of the costs of operating colleges and universities. In effect, 'shifting' the tariff of college more directly to the student. Today the state of Michigan contribution is only about 22% in place of of the 50+% it was in the 1970's. So that's the explanation for the biggest part of the increased cost, even after adjusting for inflation.
Also, the upgrades in technology, expertise, and science/ technology education since the 1970's at universities have been substantial, and is not cheap. Nor are the increased insurance, environmental, and regulatory costs. It was a cheaper, simpler, less regulated, less dangerous, and less-technologically exigent situation for colleges and universities back then.
In short, it's not the same kind of college or university as it was in 1976 (35 years ago!). It's extremely different today, to serve a vastly different society.
Thank you for putting the figures into angle for some clearly outdated readers. I graduated from WMU in August and am due to start paying back my student loans (somewhere around the $40k attend to) in April. I was lucky enough to have a decently paying (and degree-related) job within a month of graduating; many of my classmates, many of whom graduated in the well, still do not have jobs, and have had to get unrelated jobs making minimum wage. One friend took two retail jobs because she was unqualified to find anything else.
Student entrepreneurs pitch plans
Michelle Chanthakhot and Ronniesha Forrest credit they can earn more than $1,500 by selling “Bear Balm,” their expressly labeled chapstick, to friends and family and customers of a student-managed store ere long to open at Northside High School in Fort Smith.
The Bear Balm owners were one of 19 teams presenting their concern ideas Monday morning (Dec. 5) to 12 judges from the Fort Smith parade business community. The event was held at the University of Arkansas at Fort Smith. The 45 students (28 from Northside and 17 from Southside Tall School) are part of an entrepreneurship program that allows them to seek up to a $500 loan.
“These kids labour hard at this. More than 85% of them have paid us back,” said Craig Pair, president of Fort Smith-based Power Technologies and coordinator of the program that partners with UAFS.
The program has grown in four years from 11 students seeking loans to the 45 on Monday. Profit for the program was first raised through the now defunct Innovation and Entrepreneurship Center.
Other student businesses making a plunge Monday included Renee’s Hair Boutique (selling patronage hair bows), Double D’s Car Supplies, Caked Cups (specialty cupcakes) and So Untrained So Clean (car and student locker air fresheners).
Some of the students participate in the two-semester version of the order. The first semester focuses on learning about the business world and creating a business blueprint. Students receiving loan proceeds spend the second semester perpetual the business and, ideally, paying off the loan.
“This has grown every year,” Marry said. “And I think the (business) plans get a little better each year.”
Yoke said other area schools, including Union Christian Academy, are interested in joining the entrepreneurship program.
Melinda Briscoe, company teacher at Northside, said the number of students in the entrepreneurship program totals 34, “exactly about double my last year’s group.”
Part of the Northside program in the 2011 descent semester has included preparing to open “Grizzly Gear,” a student-managed facility and apparel store. Briscoe was able to obtain a $40,000 grant from the Arkansas Trust in of Education and a loan from the Fort Smith Public School District to available and stock the store.
Briscoe said nine students have bought inventory, worked with vendors on designs and pricing for clothing, jewelry and numerous other items, set up window displays and prep the inapt-of-sale system. Profit
s from the store go back into the store and to scholarships, Briscoe said.
The cumulate, located in the old bookstore at Northside, is set to open 2:30 p.m., Friday (Dec. 9) to the Mrs Average. Briscoe said the store is a partnership with the Northside marketing department and Lori Bauer, the Northside marketing master.
grant to pay off student loans - Bookshelf
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Ferguson career resource guide to grants, scholarships, and other financial resources Part-beat AmeriCorps volunteers are eligible to receive biased funding. The money can also be designated to pay off qualified existing student loans—most ... |
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Budget: Budget of the United States Government Reforming Student Loans. The Application is strongly committed to the ... the Pell Grant highest award, pay off the current $4.3 billion Pell shortfall, ... |
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Double Your Retirement Income, Three Strategies for a Successful Retirment First go for grant aid (voluntary money), then for loans in the order shown. ... Shifting assets to pay off student loans anytime after the higher- ranking year begins ... |
Why You Should Donate
The sight and sound of knocking from friendly Senior Fund faces at your door with donation slips in hand is hard to forget, especially when we’ve been getting phone calls from Barnard recently requesting donations from us. We have tons of reasons why we shouldn’t donate: the recession, taxes and rent taking out over 2/3rds of our monthly paycheck, paying off college loans, trying to save up funds, we just graduated – why do they want money from us already? – and again, the recession. Those phone calls can seem pestering and unsympathetic, but maybe after we clear a few things up, it won’t seem so bad.
First, many people want to know where their money goes. When you click to donate online here , you can actually choose where you want it to go, from “Wherever Barnard needs it most,” to “Campus Renewal” (wouldn’t you love to help fix up a dorm?!), to “Faculty Support,” and/or “Financial Aid.” You can even specify whether you’d like to pay your gift all at one or in installments. How easy is that?
Next, many people wonder why they should donate to Barnard at all. The reason to donate varies for everyone, but here are a few of the standard ones.
Remember every Barnard student gets an automatic $12,000 scholarship. Where do you think that comes from? Columbia doesn’t give Barnard any money and, while Barnard makes due with what it has, education is invaluable. Show a little token of how much you value your 4 years at Barnard.Some people would argue, “I just gave $200,000 for my degree! What more could they want from me?” To counter, the $200,000 was for yourself, to take advantage of incredible opportunities you would not have anywhere else and to learn from the best and most dedicated professors out there. Your donation after graduation is to ensure that Barnard maintains their high academic prestige. In short, , not dollar amount. Barnard Alumnae donation is very low (about 30%). This number inhibits Barnard from going further, sometimes at an academic cost. For example, President Spar mentioned how she had applied for a grant that would fund either new chemistry labs or a new dance studio. We got to the final round, but once they saw how low our alumnae investment percentage was, we were knocked off the list. A simple $5 or $10 from every Alumna could have changed the ending of this story. So you see, any amount does go a long way. That said, if you can afford to donate more than $5 or $10, you definitely should. Don’t think of it as spending more money. For example, if you just saved $30 on a dress you bought, maybe donate $20 of the amount you saved. Or, if you’re trying to get rid of the caffeine addiction you have as a result of your senior thesis writing, take all the money you save on your lattes in a month, donate half to Barnard and put the rest into savings or buy a new book with it! There are so many ways of looking at it.
The challenge : A BC 2001 Alumna has created this challenge for us – if we can break the participation record of 26% for a Young Alumnae Class, she will donate $5000! This shouldn’t be too hard for us. We broke records as seniors, we can surely do it again!
Finally, the reason that you are being contacted even though we’ve just graduated is simply that Barnard wants to make sure you don’t forget about her. By establishing a connection early on, she hopes you’ll make it a habit of thinking about her every year and sending her a birthday gift
.
The point is, don’t forget. And sorry if this post is a little annoying, but I hope it clears up a few questions and inspires a few of you to give.
Child Care on the Agenda
National Women's Law Center
Today the President made clear he recognizes that child care is central to efforts to strengthen middle-class families.
At a meeting of the White House Middle Class Task Force, the President announced several proposals to help families, including those juggling their responsibilities to care for their children and their elderly parents as well as those trying to pay off student loans.
By including child care in this agenda for middle-class families, the White House is acknowledging that families working to get ahead cannot succeed unless parents have stable, affordable child care that enables them to get and keep a job and that offers a nurturing, supportive environment for their children.
The White House agenda includes proposals to expand the value of the Child and Dependent Care Tax Credit for middle class families with incomes up to $115,000 a year. For example, the tax credit rate would increase from 20 percent to 35 percent of qualifying expenses for families with incomes under $85,000, which would increase the maximum credit for a family in this income range with two children by $900, from $1,200 to $2,100.
In addition, the administration is proposing a $1.6 billion increase in funding for the Child Care and Development Block Grant, the largest one-year increase in 20 years, to help an additional 235,000 children from low-income families trying to enter the middle-class.
Adopting these proposals would be a significant step forward for middle-class families, and families aspiring to join the middle-class, who are doing all they can in difficult economic times to support themselves and see to the well-being of their children.
