Post Academic

Brace Yourself for Student Loan and Pell Grant Changes

Posted in The Wild World of Student Loans by Caroline Roberts on February 18, 2011
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Image Source,Photobucket Uploader Firefox ExtensionBoy, oh boy, I hope this kind of nightmare does not come to pass, but the powers-that-be are suggesting making a 15% cut in Pell Grants. That may not sound like much, but a grant is money that doesn’t have to be paid back, and Pell Grants are often lifesavers for those who want to attend college or grad school and can’t afford it.

If this upsets you–and it should–then I recommend calling your friendly neighborhood representative or senator. There is no telling where this could go, but either way, it means that you might be taking out more loans to cover what the grant money used to. Even if you have a good aid package now, remember that you have to reapply every year, and the package will vary depending on the whims of the government.

As always, this post does not intend to discourage anyone from attending graduate school and following a dream. Just a) make sure is is really what you want before you take on student loans and b) prepare to get by on very little when you are a grad student. Take a look at the Wild World of Student Loans for the details.

That’s your student loans coming to get you. Cover of the pulp magazine Strange Tales of Mystery and Terror (October 1932) featuring “The Hunters from Beyond” by Clark Ashton Smith, published by William Clayton. Image Wikimedia Commons, public domain.

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