WATERVILLE — A graduate of Colby College has given the school $2.5 million, which will be dedicated entirely to financial aid for Maine students.
In a news release from Colby, the college announced that Steve Ford, who graduated from the college in 1968 and is a native of Gardiner, has committed to providing the support for Maine students at Colby, where he received financial aid and has family ties.
The Connecticut House of Representatives gave final passage Wednesday night to legislation that opens financial aid in the state to “dreamers,” the undocumented immigrants brought here as children, only to find themselves priced out of higher education as they come of age.
Here's a secret to help your child grasp the real impact of student loan debt: Don't just think about the huge sum you've borrowed — focus on what you'll repay each month.
About 30 percent of college students said they feel confident with the financial terms associated with student loans, according to a survey by College Ave Student Loans. The lender recently polled 1,075 undergraduates.
A few colleges and universities help students avoid crippling debt by offering generous financial aid packages.
When it comes to debt, last year's college grads who borrowed student loans took on nearly $30,000 in loans to pay for their education, according to data reported to U.S. News in an annual survey. For that reason, college affordability is a top concern among many prospective students.
Every year, the U.S. Department of Education gives over $120 billion in federal grants, loans and work-study funds to more than 13 million college students, making it the largest provider of student financial aid in the country. Now, students may be given some of these funds on a debit card.
According to The Hill, the Department of Education plans to launch a pilot program which would place financial aid dollars onto debit cards for up to 100,000 students. Earlier this month the department began searching for a contractor to help with the program.
Amid America’s colossal student debt problem, an Ivy League school is providing an example of how institutions can help.
Beginning next school year, Brown University will eliminate all student loans in its undergraduate financial aid packages, replacing them with scholarships. Following a $30 million fundraising effort launched in September, Brown administrators announced this week that 2,087 donors contributed toward the goal, and that the school—located in Providence, Rhode Island—plans to raise $90 million more to sustain the scholarship giving.
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"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie
The road to success is always under construction
– Lily Tomlin
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
“This would be a much better world if more married couples were as deeply in love as they are in debt.”
