FAP756: Perfect credit scoring storm approaching

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Student Financial Aid News
+ Inside Higher Ed: a day after a top aide to Sen. Edward M. Kennedy (D-Mass.) expressed skepticism about whether students were being hurt by the credit crunch, the senator set the stage during debate over the 2009 budget resolution on the Senate floor for a proposal that would increase the amount of federal loan funds that a student can borrow — one of several changes that the lenders, for-profit colleges and others most worried about the credit crunch have sought.
+ More action may be needed, Kennedy said, especially because far too many students are having to turn to more expensive private (or alternative) student loans to cover the difference between what they receive in federal grants and loans and what they must pay to attend college. (Kennedy attributed to the Education Department a figure — far higher than previous estimates from the College Board and other sources — suggesting that 40 to 60 percent of students who take out private loans have not taken “full advantage of the grant aid and low-interest loans they are eligible for under federal programs.”
+ The financial aid process begins with scholarships
+ File the FAFSA
+ Get the maximum amount of federal student loans
+ Only then take out private student loans
+ Inside Higher Ed: The Boston Zoning Commission on Wednesday set a limit of four on the number of students who can live together off-campus. The Boston Globe reported that the policy was met with strong support from college officials and neighborhood groups, but with intense opposition from student groups. Supporters said that the measure was needed to minimize the student culture of late-night parties in otherwise quiet residential areas. But many students said that the rules will take away an affordable housing option that they need.

Scholarship Update
+ Spring VON conference
+ A quick note from personal friend Jeff Pulver that any currently enrolled full time undergraduate or graduate student can attend VON for free, normally a $2,500 ticket
+ Mail or fax proof of enrollment
+ Details at our free college scholarships search site

News You Can Use
+ The perfect storm of consumer credit issues
+ By co-worker Mark Marquis at Student Platinum
+ Be sure to read tips on how to clean up your credit report

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Reminders
+ Student Loan Network Fall $10,000 Scholarship
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

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