2008 Woodie Awards
New bill may increase Pell
Jessica Bakeman
Issue date: 9/21/07 Section: News
Originally published: 9/20/07 at 6:59 PM EST
Last update: 9/20/07 at 9:28 PM EST
- Page 1 of 1
Plattsburgh State students may see changes in how they pay for college.
Congress is finalizing a bill which will cut subsidized loan interest rates in half, and increase the maximum Pell grant available to students who meet the qualifications, a September 6 article in The Chronicle of Higher Education reports.
Todd Moravec, director of financial aid, said the Pell grant increase would help students who are most-needy. One-third of undergraduate students receive Pell grants.
Nearly 70 percent of PSUC sudents have loans, but they will not all be affected by the bill. Subsidized loans are being decreased and are need-based, whereas any student can qualify for an unsubsidized loan.
"I'd love to see the rate for unsubsidized loans go down to 3.4, as well," Moravec said. He said he is impressed that legislators and educators alike are exploring how burdens on students and families can be lessened. "I like that discussion," he said.
The discussion, however, is not enough to ease the financial burden of obtaining higher education.
John Homburger, vice president of business affairs, said over the past 15 years there is a larger debt load for students.
"However, we are seeing more sophistication in shopping [for college] - looking for value, price, scholarships, reputation, etc.," Homburger added.
This bill will not significantly affect PSUC students, Homburger said. The cost of higher education will continue to rise, due to inflation and upkeep. The bill will "help to keep it even, but not make it better."
At PSUC, 87 percent of full-time undergraduates receive some source of financial aid, including loans and scholarships. This number has increased slowly but stabilized in the past few years, Moravec said.
Plattsburgh has a larger institutional scholarship fund compared to other SUNY schools, Moravec said. About 19 percent of full-time undergrads are receiving a scholarship - most directly from SUNY Plattsburgh, but also includes some from private sources, such as a church or a rotary club.
David Gregoire, director of advancement services, said over
50 percent of the funds generated by the Plattsburgh College Foundation, a not-for-profit organization that manages gifts in support of the college, go towards scholarships.
In 2006-07, $600,000 went to merit-based scholarships that are offered to the recipient upon application to the college, and the $250,000 funded departmental scholarships.
To take advantage of aid opportunities, Moravec said it is important to apply for both FAFSA and TAP - federal and state programs that assist eligible students in college.
Also, students should look for departmental scholarship applications, which target students beyond their first year.
Congress is finalizing a bill which will cut subsidized loan interest rates in half, and increase the maximum Pell grant available to students who meet the qualifications, a September 6 article in The Chronicle of Higher Education reports.
Todd Moravec, director of financial aid, said the Pell grant increase would help students who are most-needy. One-third of undergraduate students receive Pell grants.
Nearly 70 percent of PSUC sudents have loans, but they will not all be affected by the bill. Subsidized loans are being decreased and are need-based, whereas any student can qualify for an unsubsidized loan.
"I'd love to see the rate for unsubsidized loans go down to 3.4, as well," Moravec said. He said he is impressed that legislators and educators alike are exploring how burdens on students and families can be lessened. "I like that discussion," he said.
The discussion, however, is not enough to ease the financial burden of obtaining higher education.
John Homburger, vice president of business affairs, said over the past 15 years there is a larger debt load for students.
"However, we are seeing more sophistication in shopping [for college] - looking for value, price, scholarships, reputation, etc.," Homburger added.
This bill will not significantly affect PSUC students, Homburger said. The cost of higher education will continue to rise, due to inflation and upkeep. The bill will "help to keep it even, but not make it better."
At PSUC, 87 percent of full-time undergraduates receive some source of financial aid, including loans and scholarships. This number has increased slowly but stabilized in the past few years, Moravec said.
Plattsburgh has a larger institutional scholarship fund compared to other SUNY schools, Moravec said. About 19 percent of full-time undergrads are receiving a scholarship - most directly from SUNY Plattsburgh, but also includes some from private sources, such as a church or a rotary club.
David Gregoire, director of advancement services, said over
50 percent of the funds generated by the Plattsburgh College Foundation, a not-for-profit organization that manages gifts in support of the college, go towards scholarships.
In 2006-07, $600,000 went to merit-based scholarships that are offered to the recipient upon application to the college, and the $250,000 funded departmental scholarships.
To take advantage of aid opportunities, Moravec said it is important to apply for both FAFSA and TAP - federal and state programs that assist eligible students in college.
Also, students should look for departmental scholarship applications, which target students beyond their first year.
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