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Financial Aid

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NEWS
July 21, 2003 | By Ellen Frishberg
I've just finished awarding $10 million in financial aid to students who otherwise couldn't afford to attend Johns Hopkins University. You'd think that would be a tremendously gratifying moment, an opportunity to reflect with satisfaction on the good we're doing for people who really deserve it. And it is. But it's also a tremendously frustrating moment. I'm frustrated because there is a large group of deserving people I haven't been able to help. It's tough for financial-aid officers to assist families who have never before sent a student to college.
NEWS
March 29, 1992 | By Dodge Johnson, SPECIAL TO THE INQUIRER
Financial aid isn't the only way to ease the pain of paying for a college education. Here are a dozen more ideas for making it more affordable. If you are a parent paying the bills, here's what you can do: TALK WITH COLLEGE FINANCIAL-AID OFFICERS. Do this even if you do not qualify for financial aid. The officers want their college to be affordable, so they're on your team. Ask about loans for students who aren't on financial aid. For example, if you live in Pennsylvania, or your son or daughter is attending college in the state, you will learn that qualified families can borrow up to $10,000 a year from the Pennsylvania Higher Education Assistance Agency.
NEWS
May 1, 1996 | By Howard Goodman, INQUIRER STAFF WRITER
Phil and Mary Ann Thomas of Cleveland used to think the IRS was nosy. Then they discovered the University of Pennsylvania's financial-aid office. Their daughter, Kristen, has been accepted into the Class of 2000, and today is the day when she and other prospective Penn students must declare their intentions with a $200 deposit. Just a month ago, Kristen Thomas was dying to find out if Penn wanted her. Now it's the school's admissions officials who sit in suspense. The fall freshman class has 2,350 openings.
NEWS
February 7, 1992 | By Jonathan D. Rockoff, SPECIAL TO THE INQUIRER
Collusion and free agency are part of the everyday language of professional sports. Now they're becoming part of the lexicon of academia. Alleging antitrust violations, the U.S. Justice Department filed suit in Philadelphia last year to block Ivy League schools and the Massachusetts Institute of Technology from fixing uniform financial-aid offers to students accepted at more than one of the prestigious schools. Reluctantly, the schools gave in. Constans Salcedo, an 18-year-old Texan, is one of thousands who has benefited since.
NEWS
January 15, 2008
Yale University yesterday announced that it was boosting its financial-aid packages for middle-class families, joining a number of top colleges that are increasing grants, eliminating loans, and tinkering with financial-aid formulas to reduce the amount that even well-to-do families are expected to contribute. The Ivy League school is increasing its financial-aid spending by more than $24 million to $80 million annually, reducing the average cost by more than half for families with incomes up to $120,000 and by 33 percent or more for those making between $120,000 to $200,000.
NEWS
January 28, 2001 | By Jennifer Moroz, INQUIRER SUBURBAN STAFF
Beefing up a commitment to make a Princeton education more accessible to low- and middle-income students, the university's Board of Trustees yesterday pledged that come September, no undergraduate receiving financial aid will have to take out loans to pay for school. Instead, scholarship money will now cover that portion of a financial-aid package that students previously had to borrow. The new "no-loan" policy, which Princeton officials believe is the first of its kind at a university, was approved unanimously by the board as part of a $5.6 million financial-relief package to be funded by the school's endowment fund.
NEWS
August 6, 1991 | BY PAUL E. GRAY, From the New York Times
Traditionally, many of America's private colleges and universities have admitted students based on intellectual merit regardless of their financial situation. Financial aid, on the other hand, has been awarded solely on the basis of need. Now these fundamental principles are under attack. On May 22, Attorney General Dick Thornburgh charged the Ivy League schools and Massachusetts Institute of Technology with violating the Sherman Antitrust Act. According to the attorney general, the exchange of information among schools about financial-aid decisions constitutes a conspiracy to restrain price competition.
BUSINESS
March 9, 2008 | By Harold Brubaker and Kathy Boccella INQUIRER STAFF WRITERS
Nervous high school seniors start receiving letters from colleges this month telling them if they were accepted and - just as important for most - how much financial aid they qualified for. But some students who need to borrow more money than allowed under federal programs could find it difficult and costly thanks to the continuing repercussions of the subprime-mortgage debacle in the credit markets. Even the surefire, federally subsidized loan market is taking hits. Nineteen companies that specialize in federally guaranteed student loans have pulled out of that market, at least temporarily, according to FinAid Page L.L.C.
BUSINESS
April 24, 2011 | By Gail MarksJarvis, Chicago Tribune
Do you dare say "yes" to that college waiting to hear if you, or your child, will join the freshman class this fall? With the deadline approaching, you might be hesitant, terrified by the price tag. Dropping $20,000 to $50,000 a year for anything would be intimidating. But it doesn't have to be. The price might not be as bad as you think. Here's how to know: Is that deal final? Although colleges have sent letters outlining what parents and students are expected to pay, colleges will often sweeten the deal if you ask. So look over the college's offer.
SPORTS
February 6, 1991 | By Frank Lawlor, Inquirer Staff Writer Inquirer staff writer Tim Panaccio contributed to this article
Coatesville High School defensive back Tony Miller, one of the top-rated defensive backs in the nation, faced a tough call. He could stay at home, go to Temple and play ball with his older brother, Dwayne, a cornerback for the resurgent Owls. Or he could strike out on his own and attend the University of Kentucky. To complicate matters, Miller fell short of 700 - the NCAA requirement for freshman eligibility - on his Scholastic Aptitude Test. If his latest results, which are due in two weeks, also fall short, he will have to rely on financial aid, rather than an athletic scholarship, to pay for his first year at school.
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NEWS
August 23, 2016 | By Jonathan Lai, Staff Writer
In its latest experiment in higher education, Trenton-based Thomas Edison State University is testing a program that gives federal financial aid to students taking courses with nontraditional providers. Beginning this fall, up to 200 Thomas Edison students will be able to receive federal financial aid for courses taken at Study.com, an online course provider. Students pursuing bachelor of science in business administration or bachelor of arts in liberal studies degrees would enroll with Thomas Edison and then take at least half their degree credits through Study.com.
NEWS
August 12, 2016 | By Susan Snyder, Staff Writer
Ursinus College on Wednesday announced a new financial-aid scholarship that will cut nearly in half the cost of college for high-achieving students and could improve the school's competitive edge. The new Gateway Scholarship will offer $30,000 per year for four years and be open to first-year full-time students for fall 2017. To qualify, students must get at least a 1260 combined reading and math score on their SAT or a composite score of 28 on their ACT, and meet college-prep-level course requirements at Ursinus, a liberal arts college in Collegeville with an enrollment of 1,650.
NEWS
July 24, 2016 | By Susan Snyder, Staff Writer
The dispute that led to the ouster of Temple University's top two leaders in the last month is rooted in a merit scholarship program that grew too quickly and raised questions about how much aid not based on need should a state-supported university hand out. For decades, Temple has provided merit aid to lure top students to its North Philadelphia campus. But under president Neil D. Theobald and provost Hai-Lung Dai, qualifications were changed so that students who scored above a certain grade point average and SAT result automatically qualified for merit aid. "Programs prior to that, admissions would evaluate applications," said Ken Kaiser, Temple's chief financial officer.
NEWS
June 30, 2016 | By Susan Snyder, Staff Writer
Temple University on Tuesday announced the sudden departure of its provost, Hai-Lung Dai, saying he "has been relieved of his administrative responsibilities effective immediately. " The announcement came on the same day that the university acknowledged that it had exceeded its financial aid budget for its merit scholarship program for 2016-17 by $22 million and had already taken steps to balance the budget. Several sources with ties to the university said that president Neil D. Theobald was unhappy with the shortfall and that a rift had developed between him and Dai, who had been provost for four years.
NEWS
June 27, 2016 | By Susan Snyder, Staff Writer
Even colleges with endowments as large as Haverford's are not immune to the financial challenges hitting universities across the country. Haverford's board of managers this month approved a plan to set an annual cap on the college's mushrooming financial aid budget and increase the size of the freshman class by seven students a year for five years in an effort to balance the budget. The plan has proved controversial because it includes modifying the college's long-held policy of admitting students regardless of ability to pay and giving them enough financial aid to attend.
NEWS
June 9, 2016 | By Michaelle Bond, Staff Writer
MERCERSBURG, Pa. - A Haitian immigrant and the daughter of an Asbury Park, N.J., taxi driver, Withney Barthelemy was not exactly the prototypical candidate for an elite prep school. But at the behest of a teacher, she applied to a 300-acre boarding school deep in the hills of south-central Pennsylvania - Mercersburg Academy - and it offered her a full scholarship. "It provided me with so many opportunities I wouldn't have had any other way," said Barthelemy, who moved to the United States when she was 4. "I felt like I was wanted despite the economic background I had. " She had what might be viewed as a dream high school career.
NEWS
April 12, 2016 | By Jonathan Lai, Staff Writer
It's a $1.5 billion annual problem: One in four college freshmen needs at least one remedial course in English, reading, or math. These "developmental" courses delay students from taking college-level work, often frustrating them as they burn through savings and financial aid for classes that don't count toward their degrees. "I had students coming in asking me, 'Do you know of any scholarships, because I ran out of financial aid?' and when I looked at their transcripts, they had four or five developmental classes," said Linda A. Hurlburt, vice president for academic services at Rowan College at Gloucester County.
NEWS
March 10, 2016
ISSUE | COLLEGE COSTS Aid lowers the tab The "sticker price" is not the actual cost of attendance for most students at colleges such as Swarthmore ("Can't afford the tuition," Friday). Swarthmore's average financial-aid award last year for more than half our students was $47,255, making the average cost of attendance $16,705 for those receiving need-based financial aid. Families need to look beyond sticker price when weighing their options for college and consider first the best fit for the student.
NEWS
December 22, 2015 | By Daniel R. Porterfield
Last month, almost every major media outlet covered the new report from the Institute for College Access and Success showing that, nationwide, average undergraduate debt increased by two percent from 2013 to 2014. The coverage was accurate, but incomplete. The reality is that some colleges have made it an educational, strategic, and financial priority to buck the student debt trend. Families should hear that story, too. Case in point: Franklin & Marshall College has decreased the average debt for students at graduation from $33,200 in 2012 to $26,200 in 2015, a 21 percent improvement.
NEWS
November 4, 2015 | By Jonathan Lai, Inquirer Staff Writer
A pilot program to expand federal financial aid to high school students taking college courses will make college more affordable and accessible for low-income students, local community college officials said. The U.S. Department of Education announced Friday that it would put up to $20 million in the Pell Grant program for up to 10,000 high school "dual enrollment" students in the 2016-17 school year. High school enrollment in specialized programs has fallen at some local colleges as costs have gone up. Pell grants would essentially subsidize those credits for low-income students, potentially boosting the number of high school students who take the college courses and then pursue college degrees.
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