FAP421: Free stuff Friday focused on video on the net, video scholarship, tax breaks, FFELP, Nathan Anderson

Student Financial Aid News
+ The Democrat-led push to make college more affordable by cutting interest rates, expanding Pell Grants, and making tuition tax deductible could cost more than $60 billion over five years, according to an estimate by Jaret Seiberg, an analyst at Stanford Washington Policy Research.
+ Congress may look to take some of those funds from private lendersâ interest rate subsidies and federal loan guarantees, Seiberg added.
+ However, according to analysts at Prudential Securities, even if Congress eliminated the entire Federal Family Education Loan Program -- the program under which private lenders operate -- it would not produce enough savings to cut interest rates in half to 3.4%, raise Pell Grants, and create the new $3,000 tax credit for college tuition costs that Democrats are proposing.
+ As deans gathered in Washington for the annual meeting of the Council of Graduate Schools, one topic of concern buzzing through the air was how much borrowing students must do these days.
+ âWe have seen much more emphasis on borrowing, especially among underrepresented minorities,â said Kenneth Redd, director of research and policy analysis with the Council of Graduate Schools. Redd noted that funding from grants and assistantships has not risen fast enough to cover increasing educational expenses.
+ For the 1995-6 academic year, the average price of attendance for a masterâs program was $9,272 and $13,423 for a doctoral program. By 2003-4, the annual price of attendance had jumped to $14,825 annually for a masterâs and $20,803 for a doctoral program â a rise of 60 percent and 56 percent, respectively. Across this same time period, an increasing proportion of students began taking out loans to finance their education. Around 43 percent of minorities took out an average of $19,103 in loans annually to finance a year of doctoral study in 2003-4, while only 34 percent of white doctoral student required a loan, averaging $17,987. The size of these loans, Redd mentioned, is almost double the amount from the mid-â90s.
+ Need graduate school funding? Stop by GradLoans.com for graduate student loans
+ From NASFAA: "'If you make more than $60,000, you're probably not going to get any need-based aid,' said Murray Haberman, executive director of the California Postsecondary Education Commission, which advises lawmakers on higher education issues," The Sacramento Bee reports. "Several private, elite schools have been ramping up financial aid packages to moderate-income families. ... The state's college systems, with rising fees and housing costs, aren't keeping up, Haberman said. He said families are taking on too much debt to cover the gap."
+ More from NASFAA: "Congress is running out of time to preserve a tuition tax break that allows millions of families in Michigan and nationwide to deduct the cost of college tuition and fees on their 2006 federal taxes," reports MLive.com. "The U.S. House rushed to finish work on the legislation Wednesday. Senate approval will also be needed before the bill can go to the president for his signature."

Scholarship Update
+ One Person Can Make a Difference Video Scholarship Contest
+ $6,500 total - $3,000 first prize
+ Entrants must be enrolled in and attending undergraduate or graduate college classes, full or part time, between September 1, 2006 and June 8, 2007.
+ Entries must interpret the theme, âOne Person Can Make a Difference.â
+ Each entry must be accompanied by a completed entry form. All forms must be signed. This form may be photocopied.
+ Entries must be 5 minutes or less in length.
+ Entrants must obtain all necessary rights and permissions for all material used in each entry, including any and all non-original aspects.
+ Entries must be submitted on standard, full-sized NTSC-format VHS tape or as Region 1 or regionless DVDs playable on all standard commercial DVD players. Entries playable only in CD-ROM formats will not be eligible.
+ Each tape must be labeled with the entrantâs name, address and telephone number, as well as the title and length of the entry.
+ All entries must be received by June 8, 2007.
+ Details on our free scholarship search site
+ Scholarship Points drawing at the end of the month!

Free Stuff Friday
+ Vixy YouTube Podcaster
+ iSquint for the Mac - convert to iPod video format
+ Revver video ads
+ Transmisson torrent downloader
+ TED Talks - fantastic collection of videos from TED
+ VLC - VideoLAN Player

Podsafe Music
+ Nathan Anderson, Sweet Misery
+ By request from Bryan Person
+ Music via the Podsafe Music Network
+ Stop by our MySpace page!

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.

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/itunes/

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