Missouri Senate Passes Scholarship Bill

On Thursday, the Missouri Senate passed the Higher Education Bill (HB1865) which would, among other things, create a new scholarship as described below:

The Access Missouri Scholarship Program is established to provide
assistance to college freshmen who are not eligible for the A+
Program or have chosen institutions not covered by the A+
Program. The maximum award will be $1,000. The new program, as
well as the Gallagher, Guarantee, and Bright Flight programs, has
a 2.5 grade point average requirement for renewal. The 2.5
initial qualifying grade point average and extracurricular
activity for the Guarantee Program are eliminated. Obsolete
language is deleted, and the Gallagher Program's criminal
background disqualifications are changed to be the same as those
in the Guarantee Program.

The bill appropriates about $10 million which would allow as many as 10,000 students to take advantage of the scholarship.

A tuition and student fee increase limitation based on the federal
Consumer Price Index for state four-year institutions is also imposed by this bill.

The bill, as amended, will go to a conference committee to work out the differences between the House and Senate versions.

Technorati Tags: Financial Aid Paying for College Access Missouri Scholarships Missouri Scholarships

PHEAA Gives More Money for Pennsylvania State Grants

The Pennsylvania Higher Education Assistance Agency (PHEAA) announced they are increasing the maximum Pennsylvania State Grant from $3,500 to $4,500 and the average award from $2,800 to $3,345 in 2006-07. These increases became possible when PHEAA committed $72.5 million in additional grant funding from its business earnings to the Pennsylvania State Grant program. Read more about the increase at http://www.pheaa.org/media/2006/April_20_06.shtml.

Technorati Tags: Financial Aid Paying for College PHEAA Pennsylvania State Grants

Academic Competitiveness Grant and SMART Grants

President Bush was visiting Tuskegee University on Wednesday and spoke about a couple of new grants that have recently been passed into law. The Academic Competitiveness Grant (ACG) will provide for additional grants for eligible first and second year students in addition to the Federal Pell Grants. The first year award will be $750 and the second year's $1300.

For the third and fourth year students, SMART Grants of $4000 will be available. In addition to the other requirements, SMART Grant recipients must be majoring in physical, life or computer science, engineering, mathematics, technology or a critical foreign language.

More information and the requirements of the Academic Competitiveness Grants and the SMART Grants may be found at http://www.ifap.ed.gov/dpcletters/attachments/gen0604a.pdf .

Technorati Tags: Financial Aid Paying for College Pell Grants Academic Competitiveness Grants President Bush SMART Grants

House Backs Bill to Expand College Access, Enhance American Competitiveness

The Committee on Education and the Workforce, U.S. House of Representatives, 109th Congress wrote the following:

The U.S. House of Representatives today approved the College Access & Opportunity Act (H.R. 609), legislation to expand college access by strengthening the Pell Grant program, providing parents and students with more information about spikes in college costs, and bolstering math and science education to enhance American competitiveness. The legislation – which would complete reauthorization of the Higher Education Act – was authored by Education & the Workforce Committee Chairman Howard P. “Buck” McKeon (R-CA), along with former committee chair and current House Majority Leader John Boehner (R-OH).

“The new realities of an increasingly competitive global economy have made a college education more necessary than ever before,” said McKeon (R-CA). “Unfortunately, even with historic levels of federal funding for higher education, the dream of getting a college education continues to elude many low- and middle-income Americans. This bill takes a huge step toward making that dream a reality.”

The College Access & Opportunity Act improves the Pell Grant program – funded at an all-time high, with a 101% increase in funding since Republicans gained the majority in Congress in 1994 – by allowing students to receive Pell aid year-round and repealing the federal rule that needlessly limits the amount of Pell Grant aid a student attending a very low-cost school may receive.

“This legislation strengthens the Pell Grant program and increases access to college for millions of worthy young students,” said Rep. Ric Keller (R-FL), chairman of the 21st Century Competitiveness Subcommittee and chairman of the Congressional Pell Grant Caucus. “On the heels of record funding for Pell Grants, the improvements we’re making to the program will make a difference for even more students seeking to attend college.”

In other financial aid news, Congressman Miller of California has introduced the Reverse the Raid on Student Aid Act of 2006 (H. R. 5150) which would cut interest rates in half on subsidized loans (6.8% to 3.4% as well as parents loans (8.5% to 4.25%).

With 5 co-sponsors and a Republican Congress, I think there is little hope of this getting through by July 1, when the new higher rates take effect. But, kudos to Congressman Miller for trying.

Technorati Tags: Financial AidPaying for CollegePell GrantsCollege LoansStudent LoansDirect Loans

April 7, 2006 - Coca-Cola Scholars Foundation raises Total Scholarship Awards from $1.8 Million to $3 Million

In a press release yesterday, the Coca-Cola Scholars Foundation
announced that it is marking the 20th anniversary of
its founding by increasing its total annual
scholarship awards from $1.8 million to $3 million.
The foundation was formed in 1986 by the Coca-Cola
Bottlers and the Coca-Cola Company commemorating
the 100th anniversary of Coca-Cola.

Each year there are 250 finalists chosen. From these
finalists, 50 students are chosen to become National
Coca-Cola Scholars and they receive $20,000 scholarships.
The other 200 receive $4,000 awards as
Coca-Cola Regional Scholars. Starting with 2006,
the awards for the 200 Regional Scholars are being
increased to $10,000.

Get more information on the Coca-Cola Scholars Program
by calling 1-800.306.COKE or visiting the Foundation's
website at www.coca-colascholars.org.

Technorati Tags: Financial AidPaying for CollegeCoca-ColaCoca-Cola Scholarship

April, 2006 - "Ventura Promise" Debuts!

Students from the Ventura College (California) service area (Ventura, Santa Paula, Fillmore, Ojai, Piru, and Camarillo) will be getting a welcome surprise this year.
The Ventura College Foundation has launched a scholarship program that will pay a full year of tuition and fees at its campus for high school graduates and GED holders from families with a household income up to $50,000. There is no minimum qualifying grade point average or SAT score.

For more information, please check http://www.vcccd.net/newsandevents.nsf/cb3a8dfe0a3dfb4588256cb
700839f7e/7D47CCCFC78C3307882571250065474B?OpenDocument&local


April 2, 2006 - Harvard Expands Financial Aid Program

Harvard University announced that qualified students coming from families earning less than $60,000 per year will be able to attend Harvard free. In 2004 Harvard began the program using $40,000 as the cutoff for waived fees. Families with incomes between $60,000 and $80,000 will also enjoy reduced fees.

Technorati Tags: Financial AidPaying for CollegeCollege Costs Ventura CollegeHarvard University