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The College Student Relief Act (H.R. 5), recently approved in the U.S. House of Representatives, currently is awaiting approval by the Senate. The act, which proponents claim will benefit taxpayers, may not have the impact that backers claim. Essentially, H.R. 5 encourages schools via incentives to go with the government’s Direct Lending Program over the Federal Family Education Loan Program (FFELP).

This is being pushed even though the Direct Lending Program has been operating at a deficit since 1997. Currently, the Direct Lending Program only has $89 billion in student loans, but owes the government $105 billion, a shortfall of $16 billion. Opponents of H.R. 5 are concerned, as they realize that taxpayers ultimately will end up picking up the $16 billion tab.

FFELP Saves Students Thousands

The FFELP, established by Congress more than 40 years ago, allows students to choose lenders based upon such criteria as customer service, incentives such as interest rate reduction, and other factors. Private lenders, including savings and loans, credit unions and banks, provide federally secured low interest student loans for college students that include: Parent Student Loans for Undergraduate Students (PLUS), Graduate PLUS Student Loans, Federal Subsidized Stafford Student Loans, Federal Unsubsidized Stafford Student Loans, and the Federal Student Loan Consolidation Program.

Through subsidies provided by the federal government, private lenders pass on savings to students in the form of student loan incentives. These benefits form the basis of competition in the student loan industry, offering potential savings of thousands over the course of a student’s loan in order to win a borrower’s business. When private lenders compete within the context of the FFELP, students win with greater savings. For instance, NextStudent, the Phoenix-based premier education funding company, provides a 1 percent LOCKED interest rate reduction once a borrower has made 36 on-time consecutive payments, one of the most aggressive benefits in the industry.

College Student Relief Act Doubles Costs

If the College Student Relief Act becomes law, students may be adversely affected. It will cut in half the subsidies paid to FFELP lenders, effectively doubling the cost required to service these student loans. Over time this will reduce the number of FFELP lenders, and ELIMINATE competition. This will negatively affect customer service, information about financial aid, and benefits passed on to students through student loan incentives.

Many students and their parents until recently were not aware of the adverse effects of the College Student Relief Act. Some have decided to take action, and, in essence, fight for their rights to save by contacting their senators, and asking them to vote against H.R. 5. Find your senators’ contact information here: http://www.senate.gov/general/contact_information/senators_cfm.cfm. Every little bit helps to protect the integrity of quality financial aid in the United States.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans and student loan consolidation at NextStudent.com.

Education college scholarships are available to help pay your college expenses.
After some research, we came across some education college scholarships you need to apply for.
After looking at these scholarships, remember to also do your own research for more chances of winning scholarships to help you with your tuition and other costs.

A scholarship is the $10k scholarship offer by freecollegescholarships.net that occurs about every month.
If you would like to apply, you simply need to be at least 18 years old and live in the United States.
You enter the scholarship giveaway when you register at their website.
Register as soon as possible so you won’t miss the next deadline.

The APS Scholars Fund offers various scholarships.  To be eligible to apply, applicants need to maintain a minimum of a 3.0 as their grade point average.  Also, students interested need to be enrolled full-time and they need to be Arizona residents.  Students will need to demonstrate financial need.  High school graduating seniors and current college students are eligible to apply.  Only those students majoring in global business or ACCY majors are eligible to apply for the scholarship.  The deadline is on April 30.

*** Click Here to Register Free for the education college scholarships $10,000 Scholarship ***

During your application process, always keep in mind to make your strengths easily visible through your essay and such.  Play your weaknesses so as to make them appear as a hardship you’ve had to go through to get to where you are now.

Attaining an online education degree has opened opportunities for many students, especially those who find paying for traditional full-time courses outside their reach. But as much as acquiring an online education degree has many benefits over traditional learning, many factors play a role in order to make it successful for online students. Because of the differences in the way that online education is disseminated and acquired, some amendments in approaching this mode of learning need be put in place to make it a success.

1. Choosing the right accredited online college or university – The first step is to select the right institution to provide for your online education degree. Do your homework before starting school, and make sure the school has been accredited by the appropriate accrediting agencies. Unfortunately, without that educational stamp of approval, the degree will not be worth the paper on which it is printed. In fact, “diploma mills” offer substandard, or no education with the promise of a quick (but worthless) degree.

2. Analyze cost vs. benefit – Some students enroll in a distance learning program without considering the cost. Generally, the cost per credit hour is fairly expensive. However, decide whether the education will translate into better income opportunities down the road. Only after assessing the true benefits can students appreciate the rewards of obtaining an education online degree.

3. Degree validation by employers – No wonder many employers are wary of online degrees. With bogus institutions literally selling degrees, employers have good reason to be doubtful and cautious. Therefore, immediately alleviate any potential misgivings by your prospective employer by offering verification of accreditation through an agency sanctioned by the U.S. Department of Education and CHEA.

4. Practice discipline, time management and be determined to succeed – During the course of learning, many students simply lack discipline and are unable to focus. This makes it difficult to keep up with their online lessons and coursework, it is thus crucial for students in pursuit of online education degree to have a great determination to succeed. It is very easy to lose focus and motivation when studying alone. Exercising good time management and keeping in constant touch with classmates would increase the morale to succeed.

5. Utilize all the facilities provided by your college – Many education degree online courses provide online lectures and email access to facilitate communication among students, lecturers and administration staff. It’s important to take full advantage of these services as they keep you “connected” with your accredited online college. It helps further your motivation in your studies when you make use of these facilities to stay in touch.

6. Make use of credit transfers – Many online education degree colleges allow students to transfer their credits from courses they took in previous colleges, whether online or traditional. By doing this, it means students don’t have to repeat courses they learnt before. For this to be effected, it’s important for a student who intends to pursue an education online to make sure they get transcripts and results from their previous universities or colleges and make them available to their accredited online college so they can be passed as transfer credits.

7. Using Educational technology is essential – The only way to facilitate an excellent online education degree is to take full advantage of all the educational technology available. Virtual libraries generally have all the information necessary to complete research projects and other assignments. The online materials have been factored into the cost of the course. The convenience is another reason for using this benefit to the fullest.