The Truth About Student Financial Aid: Second in a 3-Part Series - Restructuring Student Loans
On July 1st, 2009, the US Department of Education announced major changes concerning the Pell Grant program. How have these changes affected you? Read more...
(EMAILWIRE.COM, July 30, 2009 ) July 30, 2009 Fort Lauderdale, FL
Financial Aid Makeover: Changes in Federal Grants for College Students
SECOND in a three-part series:
In an effort to make financial aid more beneficial and accessible to a greater number of college students, the U.S. Department of Education has begun the process of making college more affordable. As of July 1st, the government enacted revisions to the federal education grant system. These revisions are summarized below:
• Pell Grants will now be available year-round. Previously, Pell Grants could only be used during the regular academic school year, rather than throughout the summer or short-term sessions offered by some colleges and universities. This restriction was lifted July 1st.
• The Minimum award amount for the Pell Grant has been changed. Before July 1st, the minimum amount that a student could receive for a Pell Grant was $400. Now, the minimum award amount will be set at ten percent of the annual maximum award. For example, the maximum award amount for the 2009-2010 academic year is $4,860. Normally, students who receive the minimum would receive a grant of $486. Students who are attending full-time, however, will benefit from the College Cost Reduction and Access Act (CCRAA) and receive an additional $490 for the upcoming school year.
• Sex offenders who have been incarcerated will no longer be eligible for Pell Grants. As of July 1st, anyone who is convicted of a sexual offense for which he or she serves a period of corrective confinement will no longer be permitted to take part in the Pell Grant Program.
• The maximum Pell Grant for the 2009-2010 school year will be $5,360. Because of the CCRAA, as well as the American Recovery and Investment Act (ARRA), the annual Pell Grant award maximum has been increased by just over $600 from the previous academic year.
• Children whose parents died while serving military duty in Afghanistan or Iraq after September 11, 2001 will be eligible to receive the maximum Pell Grant award each year. Certain conditions apply. First, the student must have been less than 24 years of age or already enrolled in college when the death occurred. In addition, the student may receive the Pell Grant only while working to earn his or her first Bachelor Degree. Students who think they may qualify should contact the Department of Veterans Affairs, as this department will be working with the Department of Education to identify those persons eligible for this status.
• Certain students who are not US citizens will be eligible to receive SMART Grants for their degree. To qualify, students must be at least half-time enrollees at accredited colleges or universities. Furthermore, grade level, rather than academic achievement, will determine whether or not a student is eligible for an award. On May 1, 2009, the U.S. Department of Education published the criteria by which a non-citizen may obtain a SMART Grant. For more information about this, contact the National Association of Student Financial Aid Administrators (NAFSA).
This huge overhaul of the financial aid process has resulted in a number of changes in federal loan processes, as well as military grant availability. For more information about this subject, visit www.degree.com the premier online degree internet portal and stay informed about any changes and updates.
Financial Aid Makeover: Changes in Federal Grants for College Students
SECOND in a three-part series:
In an effort to make financial aid more beneficial and accessible to a greater number of college students, the U.S. Department of Education has begun the process of making college more affordable. As of July 1st, the government enacted revisions to the federal education grant system. These revisions are summarized below:
• Pell Grants will now be available year-round. Previously, Pell Grants could only be used during the regular academic school year, rather than throughout the summer or short-term sessions offered by some colleges and universities. This restriction was lifted July 1st.
• The Minimum award amount for the Pell Grant has been changed. Before July 1st, the minimum amount that a student could receive for a Pell Grant was $400. Now, the minimum award amount will be set at ten percent of the annual maximum award. For example, the maximum award amount for the 2009-2010 academic year is $4,860. Normally, students who receive the minimum would receive a grant of $486. Students who are attending full-time, however, will benefit from the College Cost Reduction and Access Act (CCRAA) and receive an additional $490 for the upcoming school year.
• Sex offenders who have been incarcerated will no longer be eligible for Pell Grants. As of July 1st, anyone who is convicted of a sexual offense for which he or she serves a period of corrective confinement will no longer be permitted to take part in the Pell Grant Program.
• The maximum Pell Grant for the 2009-2010 school year will be $5,360. Because of the CCRAA, as well as the American Recovery and Investment Act (ARRA), the annual Pell Grant award maximum has been increased by just over $600 from the previous academic year.
• Children whose parents died while serving military duty in Afghanistan or Iraq after September 11, 2001 will be eligible to receive the maximum Pell Grant award each year. Certain conditions apply. First, the student must have been less than 24 years of age or already enrolled in college when the death occurred. In addition, the student may receive the Pell Grant only while working to earn his or her first Bachelor Degree. Students who think they may qualify should contact the Department of Veterans Affairs, as this department will be working with the Department of Education to identify those persons eligible for this status.
• Certain students who are not US citizens will be eligible to receive SMART Grants for their degree. To qualify, students must be at least half-time enrollees at accredited colleges or universities. Furthermore, grade level, rather than academic achievement, will determine whether or not a student is eligible for an award. On May 1, 2009, the U.S. Department of Education published the criteria by which a non-citizen may obtain a SMART Grant. For more information about this, contact the National Association of Student Financial Aid Administrators (NAFSA).
This huge overhaul of the financial aid process has resulted in a number of changes in federal loan processes, as well as military grant availability. For more information about this subject, visit www.degree.com the premier online degree internet portal and stay informed about any changes and updates.
Contact Information:
AAA Debt Consolidation
Sheila Danzig
Tel: 954.905.4942
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
AAA Debt Consolidation
Sheila Danzig
Tel: 954.905.4942
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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