Trends and Issues
The College Board reports that student aid reached more than $90 billion in 2001-2002, an increase of 11.5% over the preceding year (or 10% after adjusting for inflation). Over the past decade, total aid has increased by 117% in constant dollars. On average, loans currently make up 55% of the total student aid awarded, while grants, scholarships and work study make up 45%.
The College Board's Trends in Student Aid 2002 delivers good news for students looking for assistance in financing a college education. For the second consecutive year, grant aid grew more rapidly than loan aid to college students. However, the decade-long trend finds growth in loans outpacing growth in grant aid. In 1991-92, loans accounted for 47% of student aid, compared to nearly 55% in 2001-2002.
TG encourages students and parents to weigh the cost of a college education against the value it will bring over a lifetime. College graduates can expect to make an average of $1 million more over their professional lives than can their high school-graduate counterparts. And the value of a degree is actually heightened in a weak economy. According to a recent study, 1.1 million new jobs for college graduates were added over the last year while 2 million non-degree jobs were eliminated.
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MYF Chat to Answer Questions about Loan Forgiveness
Under certain circumstances, a student loan can be forgiven or discharged. Students and their families now have an opportunity to ask counselors about loan forgiveness during an online chat offered by Mapping Your Future (http://mapping-your-future.org).
The live chat event—scheduled for Tuesday, December 10, 2002, from 2 to 3 p.m. CST—will allow students and families to seek advice about loan forgiveness and the financial aid process from experts all over the country.
During this Loan Forgiveness Chat, students and their families will learn more about the Stafford and Perkins Loan Forgiveness Programs, including:
- Determining eligibility for loan forgiveness or discharge.
- Applying for loan forgiveness.
- Paying for college and general financial aid information.
Joining the Chat
Anyone with Internet access can join in the chat by visiting www.mapping-your-future.org. On the evening of the chat, visitors will select the chat session from the main page. Simple instructions will guide them on how to join the event. Visitors can register to be reminded about the chat in advance by signing up online at http://mapping-your-future.org/services/chatnight.htm.
About Mapping Your Future
Mapping Your Future (MYF) is a public service website providing college, career, and financial aid information and services. MYF sponsors a full schedule of chats throughout the year to help students navigate through what some consider a maze of financial aid, college, and career information—all from the privacy and convenience of a personal computer.
MYF is sponsored by TG and other guarantors and is supported by many lenders and servicers across the country.
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JobGusher Hosts Online State and Municipal Job Fair
While some people are shopping for holiday gifts, JobGusher wants to make shopping for a job or internship a bit easier. JobGusher is hosting an Online State and Municipal Job Fair, December 2-15, 2002. The Online State and Municipal Job Fair gives job seekers the opportunity to view internships and full-time and part-time jobs across the nation.
How It Works
Students and job seekers can view all participating employers and their positions by visiting www.JobGusher.com and clicking on the ticket in the upper right-hand corner. Job seekers decide which positions to apply for on the spot, and then apply electronically through the site. For employers, participation in the Online Job Fair improves exposure and access to job seekers without the high costs usually associated with traditional job fairs.
After visiting the Online Job Fair, job seekers are encouraged to return to the JobGusher home page, click on "Find a Job," and search for other opportunities in their area.
There is no cost for job seekers to attend the Online Job Fair. To participate, they simply need to visit www.JobGusher.com anytime from Monday, December 2, to Sunday, December 15, 2002.
For more information on JobGusher, visit www.JobGusher.com or contact JobGusher at 1-866-JOB-GUSH. Employers interested in participating must be registered with JobGusher. For more information on exhibiting, contact email@example.com.
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