ChristiaNet.com (http://www.christianet.com), the world's largest Christian portal with twelve million monthly page loads, has just launched a directory about student loans including information on federal Stafford loans and financial aid. Bill Cooper, President of ChristiaNet is committed to helping readers get the best information available on acquiring student loans and the latest information on what is currently being done that may affect these types of loans. "More Americans today are seeking a college education than ever before, and most have to rely on student loans in order to do so," says, Cooper. (http://www.christianet.com/studentloans/)
According to the Public Interest Research Group (PIRG), "more than two-thirds of students now borrow to pay for their education." Part of the reason for this growing phenomenon could be attributed to the large amount of information that is available on the Internet as well as the ability to apply for financial aid online through FAFSA (Free Application for Federal Student Aid). Cooper says, "Subsidized federal Stafford loans and Pell Grants are awarded to students who qualify. Subsidized loans have to be paid back but Pell Grants don't."
The PIRG says, there are 5.5 million students that currently use Stafford Loans to get a college education and most of them are from low to middle income families. Cooper adds, "Federal Stafford loans are subsidized by the government. This means that the government pays the interest on these loans until 6 months after the student graduates." According to PIRG, in California, "the average subsidized loan debt for a 4 year graduate is $15,125." Students who attend private schools will owe much more than this because tuition costs are higher.
In response to this increasing phenomenon of Americans borrowing money to continue their education, the House passed a bill that will provide some relief on loan interest paid by college students and increase the amount for Pell Grants that are awarded over the next 5 years. Currently the maximum award for Pell Grants is around $4,050 per year for each student that qualifies. Cooper says, "Pell Grant money is often used for out of pocket expenses such as the costs of books, however, Pell Grant money awarded may actually go towards tuition costs instead of to the student for out of pocket expenses." For more information, visit: http://www.christianet.com/articles/
About ChristiaNet
ChristiaNet.com (http://www.christianet.com), the world's largest Christian portal with twelve million monthly page loads, receives around one million visitors per month and has 400,000 email subscribers who have access to an online shopping mall, job bank, Biblical and life application resources, free ecards, Christian blogs and friendship communities.
