FAP398: Political everything today, Democrats retake House, Democratic scholarship, Mail Bag, Natives of the New Dawn

Student Financial Aid News
+ Waking up to a Democratic House, possibly a Democratic Congress
+ What does this mean for you in terms of financial aid?
+ Speaker-to-be Nancy Pelosi has stated that part of the Democratic platform is to reduce student loan interest rates on the Stafford Federal Student Loan to 3.4% from 6.8% - let's hope she can make good on that promise
+ Chairmanships in various committees will change as well, including the House Education and Workforce Committee
+ From the Chronicle of Higher Education: Companies in the federal guaranteed-student-loan program fear that they will pay for tying their fortunes so closely to the Republican Party (The Chronicle, November 7). The student-loan industry as a whole has overwhelmingly directed its campaign contributions to Republicans. A special report by The Chronicle found that loan-industry officials had donated $632,000 during the first 18 months of the 2003-4 election cycle to the 49 representatives of the House Committee on Education and the Workforce, which is in charge of drafting higher-education legislation, with close to 80 percent of that total going to the panel's Republican members. Democrats are very likely to propose slashing subsidies to lenders to pay for the party's top campaign pledge: cutting in half the interest rate students pay on their federal student loans.
+ In addition, Democratic lawmakers are expected to significantly expand Congressional oversight over the guaranteed-student-loan program, investigating, for example, whether some loan companies have violated a provision of the Higher Education Act barring lenders from offering inducements to colleges "to secure applicants" for federal loans.
+ It's a great time to be aggressive in your political stance in favor of more financial aid for students - let your politicians know
+ Grace periods coming to an end - Banknet 360
+ Consolidating during your grace period will save 0.6%
+ Student loan consolidation at StudentLoanConsolidator.com or 877-328-1565
+ From Yahoo News: A recent survey of students from colleges and universities across the United States shows that the financial aid administrator is the primary resource for information and advice about lenders during the various borrowing stages. Despite the significant increase in the use of Web-based research, survey results also show that the Internet has not replaced the counsel of financial aid administrators, but rather is used to support their recommendations and advice.
+ The online survey, conducted by a third-party marketing research firm for a nonprofit student loan provider, was conducted from February through April 2006 with a mix of existing, previous and prospective student loan borrowers. Research showed that current borrowers depend on their financial aid administrators when researching providers (52%), deciding which provider to choose (44%), and again when researching information for consolidation loans (45%). Survey results found that the Internet was less of a resource for borrowers in repayment who consolidated their loans, with the financial aid administrators as the source for 50% of the students who needed consolidation information versus use of the Internet at 35%.
+ This morning's coffee sponsored by Storyville Coffee, which got sent to me via BzzAgent

Scholarship Update
+ The Democrats won - how's their scholarship base?
+ Pennsylvania Federation of Democratic Women, Inc. Scholarships
+ The Pennsylvania Federation of Democratic Women, Inc (PFDW) awards scholarships to any Pennsylvania woman student in the junior class of an accredited college or university. Applicants must possess a Democratic Party family background or be an active participant in activities of the Democratic Party. Each of the 6 scholarships awarded is $1000 and is intended for use during the student's senior year. Winners will be invited to a luncheon at the annual convention.
+ An essay explaining:
+ need for scholarship
+ professional goals and
+ Democratic Party activities of family and/or yourself
+ A letter of recommendation from a faculty member in the applicant's major department
+ A letter of recommendation sponsored by a club president or a Pennsylvania Federation of Democratic Women club member
+ College GPA certification from a university officer
+ Detailed information at our free scholarship search site
+ Search term: Democratic party scholarship deadline

Mail Bag
+ Linda Conard from NASFAA has asked for more careful attribution of stories in the news. Thanks for writing - absolutely.
+ Dave LaMorte from Teaching for the Future writes in, "I took your advice and tried out Zamzar, but I was disappointed when it wouldn't convert ASF files. I found another website called Media-Convert.com. This will allow me to finally start video podcasting on a more regular basis. I think there are a few more options with Media Convert than with Zamzar. Let me know what you think."
+ Nice find!
+ Chris from eastern New Mexico called in on our special election comment line with a voting report
+ Jim McLeish writes in, "According to the following website Senators and Reps. can not be appointed to the electoral collage. You may have been thinking of what happens if the electoral collage fails to elect the president."
+ Extensive Wikipedia article on the topic as well as the Federal Register

Podsafe Music
+ Natives of the New Dawn, Good Day
+ 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 or 206-350-1208. AIM: FinAidPodcast Add me to your iTunes by visiting http://www.FinancialAidPodcast.com/subscribe/

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