Financial Aid in the News

Here are some of today’s financial aid news stories:financial aid in the news

Students in race for state’s college financial aid funds

The Chicago Sun Times reports that financial aid applications are being filled out quickly, since students are afraid of  being shut out from state aid. More than 180,000 Illinois students filled out financial aid forms in January and February, which is 21 percent more than those two months last year. Last year, Illinois ended up denying financial aid applications that were submitted after May 15, which was the earliest cutoff date in history. Because of this, more than120,000 eligible students didn’t get a dime of financial aid for the fall semester.

College acts to disregard fiscal needs in admissions

The New York Times reports that Hamilton College (a small liberal arts college in Clinton, NY) is adopting a need-blind admissions policy. This means that they will consider applicants regardless of their ability to pay. Previously, some students were admitted to Hamilton College partly because they required no financial aid, and others were rejected from the college because they did. Over the next four years, Hamilton expects to add about $2 million to its annual financial aid budget. Full tuition, room and board, and other fees to attend Hamilton total nearly $50,000 per year, where the average financial aid award is about $32,500.

Don’t put off applying for college financial aid

Buffalo News reports that financial aid will be in high demand again this year, so students need to fill out their financial aid applications quickly. Financial aid applications for the The University of Maryland-College Park are up 12 percent from last year, although federal funding for work-study and certain education grants has been cut down.

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