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    Debt Deal Will Affect Financial Aid for Graduate Students, Making My Colleges and Careers an Ideal Resource for Those Completing Their Education while Working Full-time

    PRWeb – Thu, Aug 4, 2011

    On Tuesday, August 2, a debt deal was finally signed by President Obama to raise the debt ceiling and cut government spending. One of the methods for budget cuts in this deal includes adjustments to various aspects of government financial aid for students. Particularly, the deal calls for the removal of interest subsidized loans for graduate and professional students, thereby increasing the amount of their student debt over the long term. My Colleges and Careers can become a valuable resource for students who are trying to attend school as well as pay off extra debt. By enrolling in online degree programs rather than a campus-based program, students can complete coursework in their own time frame and thus still have time to hold down full-time jobs.

    Provo, UT (PRWEB) August 04, 2011

    On Tuesday, August 2, President Obama signed a deal to raise the U.S. debt ceiling as well as cut government spending. One of the proposed budget cuts included in the deal, which can be found on the Congressional Budget Office's website, are adjustments to government financial aid for students. Particularly, the deal calls for the removal of interest subsidized loans for graduate and professional students. Before, graduate students could take out subsidized loans from the government that would remain interest-free until six months after they graduated when they were required to begin paying off the debt. The government will no longer cover the loan interest during the time that a student is in school but will add it to their debt, thereby increasing the amount that students must pay over the long term. My Colleges and Careers can become a valuable resource for these students who are trying to attend school as well as accrue as little debt as possible. By enrolling in online schools rather than a campus-based program, students can complete coursework in their own time frame and thus have time to hold down full-time jobs.

    Another part of the new debt deal, as laid out in the official Budget Control Act Amendment, that will affect graduate students with financial aid is the removal of a rewards system. In the previous system, preference was given to students who made on-time payments for the first 12 months, reimbursing some of their initial loan fees. Now, this special credit will be removed. This will save taxpayers $21.6 billion over the next ten years, as stated by the Congressional Budget Office. Yet, these two changes could add thousands of dollars onto the tuition costs for graduate students. My Colleges and Careers helps students find online college education programs. One of the benefits of completing online graduate courses is that students will have the ability to spend more time working to pay off loans than if they attended a physical campus.

    Fortunately, the debt reduction plan will still allow for Pell Grants, which are given to help pay tuition costs for nearly 8 million poverty-level students. While the budget for Pell Grants will be lowered slightly over the next few years, there should be very few affected by the change. My Colleges and Careers can be a useful tool for any students worried about accruing debt by helping them find online degree programs that range from an online associates degree to an online PhD.

    My Colleges and Careers has a variety of tools on their website that will assist prospective students and returning students to find an online degree program and prepare for a career. The most important tool on the website is the degree searching tool, which helps students by connecting them with specific online programs. The website also offers other tools and information such as helpful infographics, as well as news updates and lists of the top careers. This information can keep students informed about financial aid or any other pertinent information regarding their education. Finally, My Colleges and Careers hosts an education blog that contains advice articles from experts in various industries. These experts write on topics such as job hunting tips, the best careers of the year, and how changes in government policies can help students complete their education and start a career.

    My Colleges and Careers is dedicated to assisting students and potential students in completing their college education through an online school. Taking into account the fact that most students have other responsibilities and commitments, My Colleges and Careers strives to guide students towards online colleges and universities. Through an online program, students can complete their schooling at any time on any day. The tools and services offered by My Colleges and Careers have helped many students complete their education and start a successful career.

    ###

    Brandon Buttars
    My Colleges and Careers
    801-705-4917
    Email Information


     

    1 comment

    • Sergio
      Sergio  •  9 mths ago
      Are you serious!?! The main reason I decided to go to Graduate School was because of how hard it is to get started in my career with this economy! And now, this happens in my second semester? This is unreal! It's going to be impossible for me to live with my unpaid internship too!
     Post a comment
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