John Morgridge choked up Tuesday as he spoke about the older brother who helped pave his way to college.
He was a metaphorical genie, Morgridge said, granting his wish to attend school away from their Wauwatosa home.
Now Morgridge hopes to grant such wishes many times over.
The California philanthropist and his wife, Tashia, on Tuesday formally unveiled a $175 million endowment for their Fund For Wisconsin Scholars during a news conference at Green Bay West High School.
“He said, ‘Get your stuff,’” Morgridge said of his brother, pausing to regain his composure. ” ‘Put it in the car. You’re coming with me. We’ll both get jobs and we can make this work.’ And it did.
“And we’re hopeful — my wife and I — that the gift we’re providing in the form of scholarships will act as a genie for you — will act to give you that extra push.”
The money they’ve given will be used to help qualified Wisconsin students with financial need who attend a state school or technical college. Grants will be based on financial aid, with eligibility determined through the Free Application for Federal Student Aid form process. The grants will not have to be repaid.
The new foundation will work with college financial aid officers to offer grants as part of a student’s total aid package. The monies will be available for students beginning college this fall, which was good news for many of the high school seniors at Tuesday’s event.
“I think what they’ve done is just remarkable,” said West senior Ben Klein, who plans to study education at the University of Wisconsin-Green Bay. “I think it encourages students who normally could not afford college to at least apply and try to see what they can do.”
Morgridge is the retired chairman of the computer networking giant Cisco Systems. He is worth an estimated $2.1 billion, according to Forbes magazine.
Morgridge and his wife graduated from UW-Madison in 1955, he in business, she in education. Tashia Morgridge, also a native of Wauwatosa, is a retired elementary special education teacher.
Rather than fully paying a student’s way, the grant money is designed to give an extra boost to students who might struggle to afford school, John Morgridge said.
For West students like Kacie Burke, a three-sport athlete holding down two jobs, the money could make a big difference.
Burke plans to attend UW-La Crosse before transferring to UW to study pre-pharmacy.
“If I could, I’d have another job,” said Burke, who plans to start at La Crosse because it’s a less expensive school.
“At West, everyone has to have jobs,” Klein added. “Anyone that’s planning to go to college — and you can ask anyone in this room — they’re working 30, 35 hours a week.”
The foundation’s grants will range from $1,000 to $5,000 per student, per year. That could help a lot, Olson said.
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Showing posts with label Students Loan. Show all posts
Showing posts with label Students Loan. Show all posts
Wednesday, January 02, 2008
Saturday, November 10, 2007
College Loan Corporation and Regent Form Strategic Alliance
Regent Education, the leading provider of financial aid management software solutions for higher education institutions, today announced the formation of a strategic alliance with College Loan Corporation. Regent and College Loan Corporation will offer financial aid management solutions that enable colleges and universities to maximize operational efficiencies and drive institutional performance outcomes.
As a top 10 Federal Family Education Loan Program provider, College Loan Corporation makes higher education possible through innovative loan products and industry-leading, first-class customer service. The company has helped more than 800,000 students and families finance college tuition.
“College Loan Corporation provides unparalleled service to its students, families and schools” said Michael Ratti, Regent’s CEO. “We share CLC’s commitment of providing our customers with strategically relevant, best of breed solutions that provide world class levels of service and innovation,” added Ratti.
Regent provides financial aid management solutions that empower the financial aid office to become a key stakeholder in driving institutional performance. Regent has been providing financial aid software solutions to the higher education market for almost 30 years.
“Accurate, efficient processing is paramount to a financial aid recipient’s customer experience,” said Joe Kakaty, president of school marketing at College Loan Corporation. “CLC is confident that the Regent solution is the preeminent financial aid management choice for schools.”
About Regent
With more than 30 years of financial aid software experience, Regent has become an industry-leading provider of financial aid management software. Our web-based, easy-to-use solutions, interoperate with and enhance any student information system. The result: greater efficiencies, error reduction, and the enhancement of service provided to students — all equating to a positive, measurable Return on Investment (ROI) within the first year. Regent software automates and streamlines key financial aid processes, such as packaging, awarding, tracking, reporting and disbursements. Designed and built for the financial aid and enrollment management community, Regent enables institutions to execute their financial aid strategy, and enables the 21st century student to access information - anytime, anywhere, any device, in any language. Regent Education is located at: 4650 Wedgewood Blvd., Suite 104, Frederick, MD, 21703. Telephone: (800) 639-0927. Web site: www.regenteducation.com.
About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is a top 10 student loan provider, managing more than $10 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 800,000 students and families. CLC is the proud winner of the 2006 Torch Award for Marketplace Ethics, awarded by the Better Business Bureau of San Diego County. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC’s student loan hotline offers expert loan consultants 24 hours a day, 7 days a week at 1.800.2COLLEGESM. For more information, visit www.collegeloan.com.
Contact:
Maggie Laabs
Marketing Manager
240-215-6176
As a top 10 Federal Family Education Loan Program provider, College Loan Corporation makes higher education possible through innovative loan products and industry-leading, first-class customer service. The company has helped more than 800,000 students and families finance college tuition.
“College Loan Corporation provides unparalleled service to its students, families and schools” said Michael Ratti, Regent’s CEO. “We share CLC’s commitment of providing our customers with strategically relevant, best of breed solutions that provide world class levels of service and innovation,” added Ratti.
Regent provides financial aid management solutions that empower the financial aid office to become a key stakeholder in driving institutional performance. Regent has been providing financial aid software solutions to the higher education market for almost 30 years.
“Accurate, efficient processing is paramount to a financial aid recipient’s customer experience,” said Joe Kakaty, president of school marketing at College Loan Corporation. “CLC is confident that the Regent solution is the preeminent financial aid management choice for schools.”
About Regent
With more than 30 years of financial aid software experience, Regent has become an industry-leading provider of financial aid management software. Our web-based, easy-to-use solutions, interoperate with and enhance any student information system. The result: greater efficiencies, error reduction, and the enhancement of service provided to students — all equating to a positive, measurable Return on Investment (ROI) within the first year. Regent software automates and streamlines key financial aid processes, such as packaging, awarding, tracking, reporting and disbursements. Designed and built for the financial aid and enrollment management community, Regent enables institutions to execute their financial aid strategy, and enables the 21st century student to access information - anytime, anywhere, any device, in any language. Regent Education is located at: 4650 Wedgewood Blvd., Suite 104, Frederick, MD, 21703. Telephone: (800) 639-0927. Web site: www.regenteducation.com.
About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is a top 10 student loan provider, managing more than $10 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 800,000 students and families. CLC is the proud winner of the 2006 Torch Award for Marketplace Ethics, awarded by the Better Business Bureau of San Diego County. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender. CLC’s student loan hotline offers expert loan consultants 24 hours a day, 7 days a week at 1.800.2COLLEGESM. For more information, visit www.collegeloan.com.
Contact:
Maggie Laabs
Marketing Manager
240-215-6176
Is there student loan help for members of armed forces?
Brad Roae is a state representative from the Sixth District.
Question: Is there any help available for members of the armed forces who served in the Middle East and are now having trouble paying their student loans?
Answer: Yes. The Pennsylvania Higher Education Assistance Agency (PHEAA) has extended the Armed Forces Loan Forgiveness Program to provide a one-time loan forgiveness benefit to servicemen and servicewomen.
The program was created to recognize the bravery, dedication and loyalty of servicemen and servicewomen who served in the aftermath of Sept. 11, 2001. This program has since been extended seven times.
The program provides a one-time loan forgiveness benefit of up to $2,500 for student borrowers who served in the Armed Forces in an active duty status between Sept. 11, 2001, and Dec. 31, 2007.
Applicants must have an eligible, non-defaulted loan such as a PHEAA Guaranteed Loan, an AES Stafford, Consolidation, PLUS, or SLS loan. These loans must be disbursed on or before Sept. 31, 2007.
*
Eligible applicants must meet one of three following criteria:
z A current resident or a state resident who was living in Pennsylvania at the time of enlistment and was in the military continuously through at least Sept. 11, 2001, regardless of current residence.
z A non-resident of Pennsylvania who left a Pennsylvania-approved institution of post-secondary education due to a call to active duty.
z A non-resident of Pennsylvania who enlisted in the military immediately after attending a Pennsylvania-approved institution of post-secondary education.
Applications for the Armed Forces Loan Forgiveness program can be downloaded online at my Web site. If a borrower is overseas and cannot complete the application, a signature by the power o attorney will be accepted with supporting documentation.
Applications must be completed and returned to PHEAA by Dec. 31, 2007.
More information, including applications for the Armed Forces Loan Forgiveness Program, is available at RepRoae.com.
Source
Question: Is there any help available for members of the armed forces who served in the Middle East and are now having trouble paying their student loans?
Answer: Yes. The Pennsylvania Higher Education Assistance Agency (PHEAA) has extended the Armed Forces Loan Forgiveness Program to provide a one-time loan forgiveness benefit to servicemen and servicewomen.
The program was created to recognize the bravery, dedication and loyalty of servicemen and servicewomen who served in the aftermath of Sept. 11, 2001. This program has since been extended seven times.
The program provides a one-time loan forgiveness benefit of up to $2,500 for student borrowers who served in the Armed Forces in an active duty status between Sept. 11, 2001, and Dec. 31, 2007.
Applicants must have an eligible, non-defaulted loan such as a PHEAA Guaranteed Loan, an AES Stafford, Consolidation, PLUS, or SLS loan. These loans must be disbursed on or before Sept. 31, 2007.
*
Eligible applicants must meet one of three following criteria:
z A current resident or a state resident who was living in Pennsylvania at the time of enlistment and was in the military continuously through at least Sept. 11, 2001, regardless of current residence.
z A non-resident of Pennsylvania who left a Pennsylvania-approved institution of post-secondary education due to a call to active duty.
z A non-resident of Pennsylvania who enlisted in the military immediately after attending a Pennsylvania-approved institution of post-secondary education.
Applications for the Armed Forces Loan Forgiveness program can be downloaded online at my Web site. If a borrower is overseas and cannot complete the application, a signature by the power o attorney will be accepted with supporting documentation.
Applications must be completed and returned to PHEAA by Dec. 31, 2007.
More information, including applications for the Armed Forces Loan Forgiveness Program, is available at RepRoae.com.
Source
Sunday, October 21, 2007
Loan limits increase for college students
A federal law that takes effect this week spells more money in the pockets of college undergraduates who borrow from Uncle Sam.
The new law changes the annual Stafford loan limits for students who qualify for financial aid. The change provides an additional $875 per year for freshmen and $1,000 per year for sophomores. The $5,500 loan limits for juniors and seniors remain unchanged but graduate and professional students will see their annual loan limits increase by $2,000.
College officials say the change can be good for students as it may help them avoid more expensive financing to pay for tuition and fees. But the new loan limits come with a catch, according to Ball State University’s Tom Taylor, vice president for enrollment, marketing and communications.
Taylor said the government is not necessarily giving students more aid, but instead reallocating funds a student may need if he or she attends a fifth year of college.
“The government is essentially saying you can borrow more money up front, but you might start to run out on the back end if you’re in school more than four years,” Taylor said.
Changes won’t help all
Parents of incoming Ball State students say the change no doubt will be helpful for families receiving financial aid. “I think it would provide students and their families more options up front,” said Pam Loeffler, whose daughter, Melissa, will attend Ball State this fall.
But the new loan limits won’t help their family, said Loeffler’s husband, Bob.
“We can’t get any aid for Melissa because we don’t qualify for it,” Bob Loeffler said.
Pam Loeffler said the federal government doesn’t do enough to help middle-income families like theirs. “We can’t get any breaks,” she said. “We save and save for our kids to go to school, but then it’s almost like that becomes a disadvantage for us.”
The government does not recognize a specific income limit for a family to qualify for financial aid. Instead, calculations are made based on a formula that examines the number of people in the household and in college; age of the eldest parent; investments; cash and savings and more.
Scott and Deb Thorn, Huntington, attempted to secure financial aid a few years ago for one of their three daughters, now a student at Indiana-Purdue University Fort Wayne (IPFW).
“We couldn’t get anything for her,” Deb Thorn said. But the couple plans to try for financial aid again, this time for their daughter, Brittney, an incoming freshmen at Ball State.
The Thorns planned to attend an orientation session Tuesday on navigating the financial aid process.
Scott Thorn said they hoped for the best. “We’ll just have to take the cost as it comes and hope we can get them [loans].”
No increase to loan limits
Taylor said the changes to the loan limits have been a long time coming. “I certainly think it’s time the government took a serious look at them,” he said.
The limits on the amount of money students can borrow through federal loans have not increased since 1992. Over the same time period, tuition rates have more than doubled.
The average tuition at four-year public colleges and universities is $5,836 for the 2006-07 school year, according to The College Board. Ball State’s tuition for the coming 2007-08 academic year is $6,672.
For undergraduates, the maximum federal loan limits are $23,000 for those whose parents claim them as dependents and $46,000 for those on their own. All graduate and professional students are considered independent.
As part of the legislation that takes effect this month, borrowers also get a break on the cost of origination fees for their loans. Origination fees are fees paid by the borrower to the lender to cover administrative fees for the loan.
The origination fee for Stafford loans dropped from 2 percent to 1.5 percent this month; the government plans to completely phase out the fee by 2010.
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