UH tuition has been raised and credit markets are tight. Will banks reduce the amount of money available to students for loans? It seems unfair for students to be punished for a financial crisis they had nothing to do with.
The federal government is taking steps to ensure students who need and qualify for financial aid will be able to get it, regardless of how the market is acting.
The fixed interest rate for the Federal Stafford Loan is down to 5 percent from 6 percent and the maximum amount for the Pell Grant award is $5,350, an increase from $4,730.
As if this wasn’t a big enough goody bag for students, it gets better. The Project on Student Debt, a nonprofit organization funded by the Institute for College Access & Success, is easing the pain of paying for loans. Its income-based repayment plan gives students the option of lowering their monthly payments in accordance with their income and family size.
The Project on Student Debt also has a Facebook page where students can get more information and talk with other students about the best ways to take advantage of the program.
The federal government seems to be doing all it can for the students of America. They are, after all, our future. Will the banks agree?
Matthew Keever is a communications junior and may be reached at [email protected]
