Aid changes in the air!!

As I have been catching up on things since my return..I note that there are many potential changes in aid of which I want to make my readers aware!!

First, one of the oldest federal student loan programs, that hosts some great benefits, may be in jeopardy. The Perkins Loan program, formerly called the NDSL (National Direcdt Student Loan) program, is a fully subsidized loan with a fixed interest rate in repayment of 5%. There is a 9 month grace period as opposed to a 6 month grace period held by the Federal Stafford Loan Program and many cancellation benefits. This is a loan program that has long been popular with low income and middle income students.

However, under President Obama's aid proposals, the Perkins loan program would become an unsubsidized program and many of the cancellation benefits would be eliminated. While I understand the President's need to reign in costs, I am concerned about how the changes would affect the students who need and utilize this loan program the most.

With daily congressional discussion, this issue is long from dead. I will keep you up to date on this and the others as they occur!!