Strange New Ways to Pay for College
"As college endowments bounce back from their financial-crisis lows, some schools are lending money to students with rates as low as 0%, says Justin Draeger, president of the National Association of Student Financial Aid Administrators," Smart Money reports. "Schools, eager to attract students, can include these loans in their financial-aid letters. All types of loans made by colleges have grown from about $500 million in the 2007-08 academic year to roughly $720 million in 2010-11, according to the College Board. Terms vary by school; repayment can be as short as one semester to as long as 10 years after graduation. The downside? Not everybody is eligible."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.