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For college students and their families, this is a time of financial turmoil. For some, the unfortunate choice of whether to attend college or not must be faced. We have all seen how even those with money to spare worry, what does that say for the rest of us?
If you are a college student in the state of Kentucky and more specifically the University of Louisville, you received good news this past week.
First, it was a great move and a step in the right direction for us all when the Council on Postsecondary Education voted unanimously last week to cap tuition increases for the next year for Kentucky’s public universities. There is nothing bad about that decision and during a time when we as students have been looking at increases of possible double digits, the thought of a cap of five percent increase is a great one. What does that mean for students? It may mean a fact as basic as yes we can attend U of L one more year.
Then students received another boost for their morale when the announcement from U of L came via emails that a new student loan program for all Stafford and PLUS loans funded by the Federal Direct Loan Program and is being put in place for the fall 2009 semester and beyond.
The good news about this new program is the lender is the U.S. Department of Education. This according to those in the know, is about the simplest, safest and cheapest way to go at the moment when looking to finance your college education. Students must not forget to do the simple steps to ensure their money by August, most importantly; new entrance counseling and a new master promissory note must be signed. (See this week’s news section for more on this program)
Some readers may be thinking, “Whew, it’s about time” the administration of our university and state officials is doing something for us.
The bottom line is both of these actions will save money for students and their families and keep more butts where they need to be; in those desk seats preparing for their futures.
