EDUCATION
SPECIAL SECTION:
Need is determined by the Free Application for Federal Student
Aid (FAFSA), which can be completed online, as the name
suggests, for free! Need-based loans are available as a Federal
Perkins Loan, awarded to students with the highest need, or a
Federal Direct Subsidized Loan, provided interest-free while in
college.
If FAFSA determines that a student is ineligible for a need-
based loan, non-need-based loan options are available as a
Federal Direct Unsubsidized Loan or Federal Direct PLUS
Loan. Unsubsidized loans allow the borrower to add interest
to the total amount borrowed after graduation, but beware, as
this leads to owing even more money when it comes time to
start paying off the loan. Direct PLUS Loans provide graduate
students or parents the opportunity to borrow the total cost of
attending college, minus other financial aid received.
Unlike the loans mentioned above that are sponsored by
the federal government, state and private loans are sponsored
by banks, colleges, foundations, and state agencies. The U.S.
Department of Education manages all college loans available by
state and requires students to be in-state residents or enrolled in
a college in that state. Private loans are an option for borrowers
but come with terms and conditions that may not be as favorable
as federal loans. Private loans also require a cosigner who is
responsible for repaying the money if the student fails to do so.
MANAGING DEBT POST-COLLEGE
Student loan debt continues to increase and has become a
burden on both graduates and the U.S. economy. There are a
variety of loan repayment options for students. Here are some
tips on how to approach repayment.
• Figure out what you’ll owe and start to save early –
Creating a budget early will allow you to build a solid
foundation for repayment after graduation. Setting aside
money each month toward future savings for repayment will
set you up for success come graduation day.
• Understand your repayment options – There are several
different options available to start paying off student loans
based on the type of loan you received. Common federal
loan plans include standard, graduated, extended, or income-
based. Standard plans are payments in fixed amounts that
ensure loans are paid off in 10-30 years (these payments
are often very high for new graduates). Graduated plans are
payments that start out lower and increase every two years,
also ensuring loans are paid off within 10-30 years (based on
loan). This plan assumes you’ll continue to make more money
as you continue your career path, so additional money is
allotted to repayment as you go. Extended plans may be made
in a fixed amount or a graduated amount and ensure payment
in full within 25 years. Income-based plans take 10-15 percent
of your discretionary income and are recalculated each year.
Once you are married, your spouse’s income will also be
considered, if filing jointly on tax returns. Any outstanding
balance on the loan will be forgiven after 20-25 years.
• Consolidate for ease – If you have multiple federal loans,
consolidating them into one can make repayment easier.
But there may be fees or other conditions associated with
consolidating, so be sure to do your research.
• Is forgiveness an option? Some programs offer loan
forgiveness if you meet certain criteria or work in a particular
field. People in government, nonprofit, and other public
service jobs may have the remainder of their loans forgiven
after 10 years of service. Additional forgiveness options are
available for nurses, teachers, AmeriCorps and Peace Corps
volunteers, and some state and private programs.
PRE-K – HIGH SCHOOL
The first public school opened in the United States in 1635,
and the Boston Latin School remains the nation’s oldest public
school. Early education didn’t focus on math or science, but
on the virtues of family, religion and community. Nearly 400
years later, schools are harnessing the fundamental principles
of community, and although it may look very different in this
day and age, a strong focus is being put on the importance of
creating a safe school culture and tapping into technology for
limitless learning.
In 2019, students, parents, teachers, and administrators are
seeing changes both inside and outside of the classroom. One
of the biggest changes in recent years comes in the form of
technology. Artificial Intelligence (AI) continues to change
education tools and is expected to increase in implementation in
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WEST MIFFLIN
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FALL 2019
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