September 15, 2008 by Mara Strom The news has been doom and gloom all year for would-be student borrowers.  From private loan companies folding to their insurers going under, it seemed that finding an affordable student loan for the ‘08-09 school year was going to be impossible. Well, lo and behold, according to recent articles in the Wall Street Journal, Chicago’s Daily Herald and a survey conducted by the New England Board of Higher Education, it turns out the bark of the financial aid crisis may have been worse than its bite. So what gives? Well, here are a few factors that may have eased the crisis: * Congress raised the cap on its unsubsidized Stafford loans by around $2,000 a year. Unsubsidized loans don’t require applicants to demonstrate financial need.  In ...

September 10, 2008 by Mara Strom Let’s face it: College is expensive and the reality for the vast majority of us is that student loans are an indispensable asset in the “paying for college” column. But paying back those loans isn’t easy (remember Clark University graduate Luke Livingston and his ingenious method for paying back his student loan debt?) Even if you’re lucky enough to qualify for and only need federal student loan (as opposed to private student loans, which carry higher interest rates and less favorable terms), paying back those loans can put a real damper on your monthly budget once you graduate.  In fact, the weight of those loans can have a real impact on what career moves you make both short-term and long-term. On the one hand, you’...