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As a
member of the House Committee on Education and Labor, Congressman Altmire is
fighting to make college more affordable for everyone and to ease the burden of
loan debt that so many students face after graduation. Congressman Altmire played a key role
in drafting and passing the College Cost Reduction and Access Act (HR
2669). This legislation invests $20
billion in student financial aid at no new cost to taxpayers and is the
single largest increase in financial aid since the GI bill became law more than
60 years ago. The College Cost Reduction
and Access Act was signed into law on September 27, 2007.
Congress also passed the College
Opportunity and Affordability Act (HR 4137), legislation that will rein in
rising college costs and increase accountability among student loan
programs. Along with Congressman Tim
Ryan (OH-17), Congressman Altmire offered an amendment to the bill to help
students cover the increasing costs of college textbooks. The Ryan-Altmire measure would create a pilot
program to award 10 competitive grants to establish textbook rental programs,
reducing the average student's textbook expenses by up to 75 percent.
Below is some helpful information
on how to plan for college and how to access financial aid. As always, you can call my office if you have
any questions. This Information Web page, prepared by the Congressional
Research Service for Members of Congress, guides students through
the process of locating and applying for financial aid.
Start Gathering Information
Early:
Free information
is readily available from:
High school counselors
College and career school financial
aid offices (where you plan to attend)
Local and college libraries
U.S. Department
of Education Web page
Other Internet sites (search terms student financial aid OR assistance)
Ask questions: counselors may know if you have
exceptional circumstances that affect your eligibility.
Be organized: use calendars to
keep of important deadlines.
Keep copies of all forms and correspondence: you
must reapply for aid each year.
Parents of
students: save money long
before your child attends college.
FinAid: for Parents
College Savings Plan
Network (state "Section 529" plans)
Tax incentives for higher education expenses
Good overviews:
Cash
for College
FinAid: The Smart Student Guide to
Financial Aid
Financial Aid: You Can Afford It
Looking
for Student Aid
Mapping Your
Future
Paying
for College
Beware of
scholarship scams
Department of Education
Federal
Trade Commission
Student
Aid and Where It Comes From:
Basic assistance
categories:
- Financial
need-based
Remember that students and their parents are responsible for paying what they
can afford -- financial aid is a supplement, not a substitute, for family
resources.
- Non
need-based
Factors include academic excellence, ethnic background, or organization
membership. Corporations may also offer assistance to employees and children.
Federal Student Aid:
- Provides
nearly 70% of student aid under Loans, Grants and Work/study programs.
- Available
to all need-based applicants; some loans and competitive scholarships for non
need-based.
- Free
information from the U.S. Department of Education:
- Loans are the most common federal aid and must be
repaid when you graduate or leave college.
- Stafford loans include:
- Perkins
Loans for the most needy undergraduates; through participating schools.
- Scholarships/grants are mostly need-based and require no
repayment:
- Other
grants, scholarships, and fellowships, mostly graduate level: search the Catalog of Federal
Domestic Assistance (CFDA) by Beneficiary, such as
"Student or Trainee" or "Graduate Student."
- "Congressional"
scholarships:
- Named
for Member of Congress or other prominent individual (such as Byrd Honors
Scholarships, Fulbright fellowships).
- Merit-based
and highly competitive.
- Members
of Congress do not play a role in selecting recipients.
- Search
by Beneficiary in the Catalog of Federal Domestic Assistance.
- Work
study programs allow you to
earn money while in school:
- For
questions not covered by the Department of Education website, call the Federal Student
Aid Information
Center at 1-800-433-3243.
States offer residents a variety of scholarships,
loans, and tuition exemptions:
Private foundations, corporations, and organizations
offer scholarships or grants:
Targeted Aid for Special
Groups:
Interested in
public service?
Federal assistance
programs seek to encourage people to work in geographic areas or professions
where there are particular needs (such as doctors in underserved areas);
encourage underrepresented groups to enter particular professions; and provide
aid in exchange for services provided (such as military service).
Aid for private
K-12 education: No direct
federal assistance, check with schools themselves:
Repaying Your Loans:
States and some
private employers provide help in repaying loans in exchange
for certain types of public service:
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