President Obama’s plan to federalize student loans and increase funding for the Pell Grant cleared its first legislative hurdle today when the House Education Committee approved the plan. Known as the Student Aid and Fiscal Responsibility Act of 2009, the President’s plan would expand the number of students eligible for Pell Grants. Currently 40 percent of American college students receive Pell Grant assistance. In addition, the bill would tie the dollar amount of the Pell Grant to the rate of inflation, allowing for a maximum increase from $5,550 next year to $6,900 by 2019. In order to pay for the increase in Pell Grant funding, the bill would eliminate subsidies for federal student loans by private lenders such as Sallie Mae, replacing them with direct loans from the feder...

Happy Friday! My goodness, it’s a scorcher out there. All I want to do is sit in the pool! But don’t get out the sunscreen just yet if you still need to figure out how you are going to foot the bill for next year’s tuition. One of the best solutions to your financial aid woes is to hit the scholarship search trail. Each Friday at the Financial Aid Finder, I make your search a little bit easier by posting about three hot scholarship opportunities with upcoming deadlines. This week, I have a $2,000 scholarship for scuba diving students, a $5,000 scholarship for business aviation management students, and a $1,000 essay competition about the legacy of President Lincoln for President Obama. If you want to find more scholarships you might be eligible for, try using a free sch...

Earlier this week we talked about whether or not distance learning is a good fit for you. Even if you passed our five-question “quiz” with flying colors, there’s another factor that any would-be student needs to consider: Cost. The viability of financial aid is a major factor for many students in selecting a school, and online schools are no different. In fact, a new study recently revealed that at least one in five college students in America is facing a shortfall in parental support due to job loss. Until 2006, U.S. law denied federal financial aid to any student who attended a college that enrolled more than 50 percent of its students at a distance. Fortunately, Congress saw fit to change that law and now online students at accredited schools are eligible for all fo...

Thanks in large part to the recession, the distance learning world is booming. Many job seekers are deciding to wait out the recession in the classroom — virtual classroom, that is. And even those with secure jobs are buttressing their resumes with advanced degrees or certifications that they can earn online. The number of distance learners has climbed 20% since 2002, with more than 3.5 million Americans currently estimated to be taking at least one online class. Are you thinking about pursuing a degree online? Distance learning is increasingly viewed as equally reputable with studying at a brick-and-mortar school. (Here are two recent articles from HR professionals and job recruiters that verify this.) Even still, studying online still isn’t for everyone. How do you know if ...

Happy Friday, Scholarship Seekers! I hope you had a productive week following that long 4th of July weekend. The weather is hot, hot, hot, and so are the scholarship offerings this week! As you know, each Friday at FinancialAidFinder, I list three scholarship opportunities with upcoming deadlines. This week, I have a $1,000 scholarship for non-traditional students, a full tuition scholarship for students of national security, and a $500 scholarship from OP Loft Bed. If you want to search for more scholarships that you might be eligible for, your best bet is to use a free scholarship search engine. But first, check out our article on scholarship searches so you don’t get scammed! Our section on college scholarships is also a great source of information on navigating the scholarship ...

President Obama has promised to improve this nation’s student financial aid system, and that includes overhauling the process of applying for assistance. Top on the President’s list is the Free Application for Student Aid, AKA the FAFSA, which is currently a long and rather complex document that needs to be filled out on line or on paper in order to qualify for federal aid. The document asks students questions about their family’s income, savings and other resources in order to determine how much assistance one is eligible for. The President Education Secretary, Arne Duncan, has recently announced that the Administration plans to completely eliminate the FAFSA and rely instead on an individual’s tax returns to figure financial aid. Secretary Duncan plans to launch...

Last week, I mentioned that the summer is the perfect time to set up college campus visits. It’s a good idea to schedule your trips to a wide variety of campuses — large and small, urban and suburban, private liberal arts colleges and public research institutions. The more places you visit, the better you will be able to assess what you really want in a college or university. As you plan your college visit schedule, you may not be sure what to expect. Here are five tips for making the most out of your college visits. 1. Take the Guided Tour When you call the Admissions Office to set up your campus visit, be sure to schedule a guided tour of the campus. Typically, these tours are led by an undergraduate volunteer, who takes groups of students and parents through the main parts...

TGIF, Scholarship Seekers. Remember last week I challenged you to apply to at least one scholarship a day for the rest of the summer? Did any of you take me up on that challenge? How’s it going so far? If you are still need to find one or two more scholarships to apply for, I’ve got three great possibilities with upcoming deadlines for you. There is a $3,000 video competition, a $10,000 scholarship lottery (no essays, no letters of recommendation), and a $2,500 scholarship for outstanding Hispanic students studying business or engineering. If you want to find other scholarships, your best bet is to use a free scholarship search engine. Not sure which sites are reputable and which are scams? Check out article on scholarship searches. Our scholarship section also has plenty of ...

Are you about to start your senior year of high school? If so, you may be wondering whether you are on track for college next year. To make sure that you are organized, read through the following checklist — AKA the Summer Action Plan for high school seniors. (And, if you need even more help with getting organized, be sure to keep your eyes peeled for the Fall Action Plan for High School Seniors coming in September!) 1. Take the ACT or SAT Hopefully you already did this last spring, but if not, there is still time. Sign up now, and start studying. The next SAT test is October 10, 2009, but you must register by September 9. The next ACT test is September 12, with a registration deadline of August 7.  If you’re not sure which test to take (or whether you need to take both of t...

Are you searching for college scholarships? You may be wondering how to distinguish yourself from your competition. While every scholarship has it’s own list of eligibility requirements, applicants need to go above and beyond the bare minimum to impress the committee — and win the award. Not sure how to do that? Here are four qualities almost every scholarship committee is looking for: 1. Strong Academics You don’t have to be the valedictorian, but most scholarship committees will take into consideration your overall commitment to academics. For some scholarships, you will need to have a minimum GPA. But if you aren’t required to be a better-than-average student, a strong GPA indicates that you take your studies seriously — and that’s something that ev...