FAP394: How to choose a student loan, SMART grants, put the Financial Aid Podcast on your site, Ayla Brown

Student Financial Aid News
+ Coming out later today, a FAFSA presentation - look for it soon!
+ It'll be posted to FinancialAidPodcast.com
+ Montana Higher Education Student Assistance Corp. issued $234.1 million in bonds backed by Federal Family Education Loan Program student loans. MHESAC, a nonprofit organization set up to offer federally backed student loans, will use the proceeds from the sale to originate new student loans and to pay administrative and issuance costs. The final maturity date of the bonds is Dec. 1, 2040.
+ College-aged students are planning to vote in record numbers on November 7, according to a poll from Harvard Universityâs Institute of Politics. Thirty-two percent of 18- to 24-year-olds surveyed in the biannual poll on politics and public service said they âdefinitely will be votingâ in the midterm elections, and three in four said the likelihood that they would cast ballots was at least 50 percent.
+ The chorus of unhappiness that emanated from Washingtonâs higher education associations when the Education Department released its rules for carrying out two new federal grant programs this summer was loud and strong. They objected to a wide range of perceived problems in how department officials planned to interpret the law Congress passed in February to create the Academic Competitiveness Grant and the National Science and Mathematics Access to Retain Talent (SMART) Grant Programs, on issues big and small.
+ The bottom line from the associations was that the programs, which are designed to draw more students from low-income families into college and particularly into high-demand fields like science, engineering and math, would be âunworkableâ unless several key elements were changed.
+ Wednesday, the department published a Federal Register notice that offered its response, which was, by and large: too bad.
+ The Federal Register notice explained that department officials would continue to exclude certificate students because they had âdetermined that because the [Higher Education Act] limits eligibility to a student enrolled or accepted for enrollment in a two- or four-year degree-granting institution, eligibility must be limited to two- or four-year degree programs.â
+ More universities are beginning to explore podcasting in their financial aid offices
+ An open message - go ahead, take this one. I'll also take requests.

Scholarship Update
+ National Science and Mathematics Access to Retain Talent Grants
+ By simply completing and submitting your Free Application for Federal Student Aid (FAFSA), youâll be considered for the Federal Science and Mathematics Access to Retain Talent (SMART) Grant. This grant is need-based and can help you pay for any educational expenses, such as tuition, fees, room and board, and/or living expenses. The SMART Grant is available to undergraduate students who are Federal Pell Grant recipients and who are enrolled full-time in their third and fourth year academic level in a four-year degree granting program pursuing a major in mathematics, science (including physical, life and computer sciences) technology, engineering or critical foreign language. The maximum grant amount is up to $4,000 per academic year and students must maintain a 3.0 GPA in coursework required for the major.
+ Details on our free scholarship search site
+ 6 more episodes until our scholarship points drawing!

Focus on Financial Aid
+ Shopping around for a student loan
+ Ben Kaplan's latest column in the Oregonian comes out swinging against the preferred lender list
+ Finding the best student loan without the lender list
+ Compare rates
+ Compare benefits
+ For example, in private student loans, look for things like cosigner release and discounts for ACH
+ Federal student loans, look for discounts for on time payments and ACH
+ Same for consolidation
+ Do the math - principal balance cash back is rarely as good as interest rate reduction in terms of overall savings
+ Which student loan consolidation benefit is better on StudentLoanConsolidator.com
+ And finally, choose a lender that has decent service, because if there's any issues with your loans, you'll need to deal with their customer service department.
+ Is the Student Loan Network the best? I'd like to think so, but you tell me.

Podsafe Music
+ Ayla Brown, Know You Better
+ Music via the Podsafe Music Network
+ Stop by our MySpace page!

Reminders
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form online filing at FAFSAonline.com
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ My personal blog
+ The Financial Aid Podcast is a publication of the Student Loan Network.

Questions? Comments? Suggestions? Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 877-328-1565 x529. AIM: FinAidPodcast Add me to your iTunes by visiting http://www.FinancialAidPodcast.com/subscribe/

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