Paying for College Blog

2009-10 FAFSA Now Available

For those wanting to get a head start, the 2009-10 FAFSA (Free Application for Federal Student Aid) was posted yesterday on the Department of Education's IFAP web site. 

Here is a link to the 2009-10 FAFSA English Version.
Here is a link to the 2009-10 FAFSA Spanish Version.

Discover Notes Growth of Student Loans in Earnings Release

Thanks to Seeking Alpha for their transcript of the 4th Quarter earnings call for Discover Financial Services. 

During the call, Roy Guthrie, Discover's CFO indicated the following:  

Private Colleges Worry About Dip In Enrollment, NY Times

Here is the article.

Here are the highlights:

Ohio State Announces Plan to Assist Students

In light of the bleak economic environment and outlook, Ohio State University announced a comprehensive plan today to assist their students. 

MRU's Delinquency Rates Violate Loan Covenants; General Counsel Resigns

In an 8-K filing on Friday, December 19, 2008, My Rich Uncle indicated that the delinquency rates on their prime and pre-prime private student loan portfolios had exceeded their covenants in their loan agreements. 

U.S. Bank Discontinuing One of Their Private Loan Products, The Gap Education Private Loan Program

The U.S. Bank Gap Education Loan is no longer appearing on their web page as one of their supplemental loan options.  This product was a unique one given that its index was the 91-day Treasury Bill, which is yielding 0.01% today (yes, you are reading that correctly, 1/100th of 1%).   Most other loans are priced using a Prime Rate or LIBOR index. 

How an Alternative Loan List Can Save Your Students $

With schools contemplating whether or not to develop alternative lender lists for their students, here is one good reason why:  they can save your students money. 

The Importance of Reading Customer Mail

While it seems that more companies get it when it comes to responding personally to customer inquiries, others simply do not.  I remember I sent an email earlier this year to the United Airlines CEO (glenn.tilton@united.com) to let him know about the dilapidated condition of the United Terminal area in Orlando (wires coming off the exposed ceilings, dust being blown throughout  the terminal, etc.).  Ten hours later, I had a personalized response from an Executive Customer service person:

Chase Select Private Student Loan Pricing Increasing by 1%

Here is the announcement:  Download E-Blast, Chase Select Pricing Update, E Schools, 12-18-08

Here are the highlights:

How Has the Recession Affected the Admissions Process and Availability of Financial Aid?

From the New York Times interview with admissions officers at Pomona College, University of Texas, Yale University and Lawrence University: