Posts Tagged ‘find college scholarships’
This has been the summer of the debt crisis and a seemingly never-ending debate on raising the debt ceiling. Even if you didn’t really quite understand–or care to understand–the impact of the resulting bill signed by President Obama earlier this week, one of the biggest public concerns throughout the debate was how it would harm access to higher education. So was the future of college and graduate education harmed or protected?
Nothing is ever completely black or white, but here are some details of what the legislation will do:
Overall, the legislation will couple an increase in the government’s borrowing cap with more than $2 trillion in budget cuts over the coming decade, including cuts to federal education spending. So, do you want good news or bad news first?
If you chose “bad news,” skip to the section that says “bad news.” For “good news,” keep reading.
Despite the nail biting induced by fear that the Pell Grant program would encounter extremely deep cuts, the program was salvaged. Need a reminder of what the Pell Grant program is? Basically Pell Grants are designated to students from low-income families. They are grants for college that do not have to be repaid. According to the U.S. Despartment of Education, more than 19 million undergraduate students are expected to be awarded Pell Grants in the upcoming academic year. That’s a lot of students and a lot of education.
Instead of harmful cuts to the program, as was expected, the Pell Grants progam will receive $17 billion in funding at no additional cost to taxpayers.
Which leads us to the bad news:
If the Pell Grant program is safe, and at no additional cost to the taxpayers, where does the $17 billion come from? No, not a money tree. Those don’t exist yet (I’m currently working on it in the secret laboratory in my basement). With a money tree out of the picture, money has to be cut from elsewhere. In this case, saving the Pell Grant program came at the cost of government-subsidized loans for graduate and professional students. The loans will be eliminated in July 2012, which means that graduate students would have to pay interest on their loans while still in school. On top of that, the rate reduction on student loan interest for on-time payments will be eliminated.
Together, these two changes are expected to generate $22 billion in savings, with $17 billion allocated for Pell Grants and the remaining $5 billion helping to reduce the deficit.
Nobody was expecting a win-win situation to come out of the legislation, but it will definitely be interesting to see how pitting undergraduate education against graduate and professional education will work in the long run.
Is this good news or bad news? Share your opinion by leaving a comment below.
Two high school seniors, Maria Zilberman and Walter Chang, have been awarded Cappex’s newest scholarships, the Rock Star and the College Pro, worth a combined $7,500.
|Rock Star Scholarship Winner:
Maria Zilberman, from North Miami Beach, Fla., plans on attending college this fall to study pre-medicine.
|College Pro Scholarship Winner:
Walter Chang, from Houston, Texas, will attend college in the fall to study engineering and musical performance.
Zilberman and Chang qualified for the scholarships by playing the “Cappex Cap Challenge,” where students collect virtual “cap” badges for completing key activities in their college searches. After earning at least 10 badges in the Cap Challenge, students become eligible to apply for special Cappex-sponsored scholarships. Examples of virtual badges include:
- Leader (Abe Lincoln hat) : For sharing leadership examples
- Artsy (beret): For providing accomplishments in the arts
- Volunteer (halo): For detailing how you’ve helped your community
- Yeeehaw!!! (cowboy hat): For representing a western state
- Road Warrior (roadster): For using the “Cappex Campus Visit Planner” to plan a college road trip
- College Reviewer (fedora with press pass): For providing a college review
Zilberman, of North Miami Beach, Fla., qualified for the $5,000 Rock Star Scholarship by collecting 25 badges, but it was her outstanding leadership in founding her high school’s international humanitarian club that won her the scholarship.
“The Cap Challenge guided me to explore colleges, which allowed me to learn more about them through student reviews, seeing my chances and organizing my application,” Zilberman said.
Chang qualified for the College Pro Scholarship by earning 10 virtual cap badges.
“Cappex.com improved my college search process tremendously, with all the key facts of each college compiled into one page and several student reviews to provide further perspective,” Chang said. He was awarded the $2,500 scholarship for his dedication as the school orchestra president who helped fundraise over $30,000 to help the school purchase a new grand piano.
“We started the Cappex Cap Challenge to give students a fun and new way to discover colleges and find matching scholarships,” said Chris Long, Cappex president. “Maria and Walter took on the challenge and also clearly demonstrated their accomplishments improving their respective communities. We were thrilled to award our Cap Challenge scholarships to these deserving students.”
Interested in the Cappex Cap Challenge? Make your own Cappex profile now.
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