The Cheese: Last Minute Aid

WSJ.com had a good article yesterday about last minute financial aid and I thought I would just share some tidbits and thoughts:

“Weeks or even days before classes start, hundreds of thousands of college students nationwide still don’t know whether they’ll be able to cover their tuition bills this year.”

How are our Zinch students doing?  Have you guys been able to get your tuition bills covered? Has your state cut funding? Your school? Have to had resort to a less pricey school or switch to part-time status?

What role do you think the gov’t should play in funding individual student’s higher education? Your college or university?  Your parents? Yourself?

I assume a lot of people are feeling the pinch this year.  The WSJ article said that ROTC applications have doubled this year (they offer a lot of scholarships and financial aid), definitely an indicator of people turning to different sources for aid.

The article included this chart on last minute financial aid options that I thought was worth sharing:

Last Minute Financial Aid

For those of you that are looking for last minute aid options, a NYTimes article yesterday revealed a new and interesting option: SafeStart.  Their concept is akin to loan insurance.  You pay them a fee each semester–around $40-$70.  Paying that fee guarantees you an interest free loan from SafeStart should you ever fall behind on your gov’t student loans.  This is a safety net to help you from ruining your credit.

There are some other options out there–the WSJ article mentions greennote.com–but the NYTimes article mentions that it has been slow to gain traction.  Greennote.com is a site that allows you to pool micro loans from people you know and your network, also called peer-to-peer lending.

I know just from the comments on the Zinch scholarship profiles that a lot of you have a lot of challenges in paying for school.  I think the important thing is to stay determined, know your resources, and get creative where you need to.

written by
David
August 19, 2009
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