FAP407: Earning beer money with student loan consolidation, Kudos to Baker College, Scholarship Search Secrets, Laura Smith

Student Financial Aid News
+ Someone asked yesterday when student loan rates will change now that the Democrats control Congress
+ The soonest would be July 1, 2007
+ From BankNet 360: The Pennsylvania Higher Education Assistance Authority violated the stateâs Right-to-Know law in withholding spending information, a state court ruled last week. The court ordered the agency to disclose a variety of records and pay a portion of legal fees incurred by the Associated Press, the Harrisburg Patriot News, and a Pittsburgh television station in seeking detailed spending reports. For months, the three media outlets have been seeking information on travel and credit card expenses related to training and board meetings held at resorts in several states.
+ The Project on Student Debt points to the following factors:
+ Skyrocketing tuition. The average price of college has risen much faster than the rate of inflation. Average annual tuition at public four-year colleges and universities is $5,836 this year, up 268 percent from 1976-77, according to the U.S. Education Department and the National Center for Education Statistics. Private college tuition is up 248 percent, to $22,218 a year.
+ Soaring student-loan debt. Students have generally made up the gap between what colleges charge and what they can afford by borrowing.
+ Flat wages. Once students graduate, jobs don't pay what they used to. Thirty years ago, a male college graduate could make the equivalent of $51,223 a year in 2004 inflation-adjusted dollars. In 2004, he earned less: $50,700, according to the NCES. Wages for women, though, have risen.
+ Stafford federal student loans at StaffordLoan.com
+ Alternative student loans at AlternativeStudentLoan.com
+ Baker College of Flint is giving students with good grades a scholarship in the form of free and discounted rent in its dorms, hoping the incentive will boost the Baker system's graduation rate, which is among the lowest in Michigan.
+ Thought to be the first of its kind, the bonus allows students to stay in the residence halls at the private, four-year school for free if their grade point average is 3.5 or higher.
+ Those with at least a 3.0 average get half of their residence hall costs paid. Even students with just a 2.7 average qualify for a 25 percent discount on their residence hall costs. The school charges $2,550 a year to live in the dorms.
+ If I ran a college, this is exactly the kind of thing I'd do - incentives for the results you want to achieve - brilliant!

Scholarship Update
+ Starting work on version 3 of Scholarship Search Secrets
+ What do YOU want to know more about?
+ Michigan Competitive Scholarship
+ Awards may pay a maximum of $1,300 per academic year at a Michigan public university, or $2,100 per academic year at a Michigan independent college or university.
+ Demonstrate financial need
+ Achieve a qualifying score on the ACT prior to entering college
+ Enroll at least half time at an approved Michigan postsecondary institution
+ Possess a high school diploma or GED certificate or meet the institution's Ability to Benefit Standards
+ Be a legal Michigan resident since July 1 of the previous calendar year
+ Be a U.S. citizen or permanent resident
+ For renewal, maintain a minimum cumulative grade point average (GPA) of 2.0
+ Meet institution's satisfactory academic progress (SAP) policy
+ Not be incarcerated
+ Details at our free scholarship search site
+ Search term: baker college scholarship

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Beer Money Cast
+ Student ATM
+ $100 per completed student loan consolidation application
+ Sign up and get a referral link
+ http://www.StudentLoanConsolidator.com/refer.php?affil=7
+ Get online reporting to see how you're doing

Podsafe Music
+ Laura Smith, Every Breath
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Reminders
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Stafford 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.
+ The Financial Aid Podcast is a publication of the Student Loan Network.

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