FAP768: Determining which college is cheapest, YouTube Scholarship

March 31, 2008 @ Financial Aid Podcast Daily Free Internet Radio On Demand from financialaidpodcast@gmail.com (Christopher S. Penn )

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Student Financial Aid News
+ Chronicle: According to a new nationwide survey conducted through The Chronicle/Gallup Panel, 42 percent of Americans think that controlling college costs is “extremely important” for the next president to address, ahead of higher-education issues such as quality, college access for low-income students, and the extreme concentration of wealth among elite institutions.
+ While Americans are clearly worried about college costs, one finding in the survey captures how conflicted they are about the issue. When asked if the federal government should have a role in controlling tuition at public and private colleges, the results were almost evenly split: 51 percent said yes, 49 percent no.
+ Boston Globe: Earlier this month, New Hampshire’s largest provider of student loans said it will no longer offer certain loans for its neediest applicants because rising interest rates have made them too expensive. A Massachusetts student loan agency expects it will have to charge borrowers higher rates on loans later this year, in order to be able to resell them to investors.
+ The problems emerged because the bond insurers were investing in instruments tied to subprime mortgages. Those holdings have spooked investors, who are worried that the questionable investments would lead to the insurers’ credit ratings being downgraded. That, in turn, would increase the risk of the nonprofit bonds they backed.
+ As a result, many investors stopped buying variable bonds or those sold at auction. Without buyers, interest rates on the nonprofits’ loans spiked - from around 3 percent last year to as high as 20 percent recently.

Scholarship Update
+ Vancouver Film School and YouTube are currently offering a one-of-a-kind scholarship competition. Visit youtube.com/vancouverfilmschool for all the details. Artists, filmmakers and designers from 19 countries are invited to submit videos on the theme “What Matters To You”. The YouTube community will vote for the 3 winners, who will receive a full-tuition scholarship to the VFS program of their choice.
+ Up to $150,000
+ Deadline May 9
+ Details at our free college scholarship search site

News You Can Use
+ Determining which college is cheapest
+ Three measurements
+ Total price tag
+ Out of pocket expense
+ Dollar amount of loans in the financial aid package
+ The school with the lowest out of pocket expense may not be cheapest
+ Loans are money that is deferred out of pocket plus interest
+ Reading the financial aid award letter
+ Scholarship Search Secrets eBook
+ Stafford federal student loans
+ Parent PLUS loans
+ Private student loans

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+ Financial Aid Podcast Live: Surviving the Credit Crunch

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