Tuesday, January 12, 2010

Good and bad news financial aid 2010

8 Happy—and 3 Scary—Trends in Financial Aid in 2010

By Kim Clark

Posted January 12, 2010

College will cost more in 2010. That, unfortunately, will very likely be the reality for most college students this year.

But the news isn't all bad. Financial aid experts asked to predict what 2010 would bring to their campuses and students also highlighted eight happy trends that should encourage those worried about paying for college:

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* 1. It will be easier to apply for financial aid. The federal government has eliminated some of the most frustrating and redundant questions from the online version of the Free Application for Federal Student Aid, which is the standard application used by thousands of colleges.

* 2. It will be easier for applicants and their parents to figure out how much a prospective college will cost, and how much aid they'll receive, before applying. Colleges have until late 2011 to install new Web-based calculators that are supposed to give applicants early estimates of their true costs. But many colleges, including Purdue, MIT, and Princeton, have already launched their net price calculators. And several companies, including Collegedata.com (free) and Studentaid.com (charges fees of $49 and up to those from families with incomes above $40,000 a year), offer a chance to compare several schools' likely costs.
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