FAP759: FAFSA, Returning Loan Money, Mail Bag Listen now: Student Financial Aid News + Inside Higher Ed: Two more colleges have joined the growing number pledging to eliminate student loans for low-income students. Claremont McKenna College announced Monday that it would eliminate loans from the aid packages of all current and new students, effective this coming fall. Lafayette College on Monday announced that it would eliminate loans in the packages of students from families with incomes of up to $50,000 and limit to $2,500 a year the loans in aid packages of families with incomes of between $50,000 and $100,000. Lafayette also announced plans to increase the size of its faculty by 35 positions (or about 20 percent) over five years, without increasing the size of the student body. + NASFAA: After the paper version of the FAFSA was published by the Department of Education (ED) and the FAFSA on the Web site went live on January 1, 2008, IRS changed the Form 4136 line item for reporting the credit for tax on special fuels from line 17 to line 18. + IRS Form 4136, line 18, is the correct line item to use for reporting the credit for tax on special fuels on Worksheet B for the 2008-09 award year. Scholarship Update + Sports Changed My Life Scholarship + STAR/PAL wants to hear about the positive impact sports has had on your life. Maybe it was a coach that believed in you, the camaraderie of being part of a team, having the opportunity to play or the outlet it provided that kept you from going down the wrong path. Tell us your unique story and you could win cash and autographed San Diego Chargers and San Diego Padres swag! Plus we’ll donate $500 and a KODAK EASYSHARE 5300 All-in-One printer in your name to STAR/PAL, a non-profit organization with a mission to inspire and aid the youth of greater San Diego to make positive life choices through active participation in educational, athletic and recreational activities. No purchase necessary. Open to anyone who is a resident of the 50 United States or the District of Columbia, has access to the Internet, and is 13 or older at the time of entry. + $300 scholarship + $500 charitable donation + Deadline May 9 + Details at our free college scholarship search site Mail Bag + Marshall wrote in: I just signed my MPN for a W.Ford Federal Direct Loan and I have some questions. Iv been a listener of your podcast for about 2 months (via itunes). + How often and in what months should I be reapplying for the FASFA? every semester? + File your FAFSA every year as close to January 1 as possible + How often should I be visiting my Financial Aid office and asking for more financial aid money? + How do I return unused money? I cant find links on this anywhere on the loan website. Thank you in advance! Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you . Subscribing for free means you don’t have to remember to download it every day. + + + Direct MP3 file download: Click here to download the MP3 Reminders + + Financial Aid Podcast Show Notes at FinancialAidPodcast.com. + Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook + Private student loan consolidation at StudentLoanConsolidator.com + Private student loans available at any time - visit AlternativeStudentLoan.com + Student credit card information at StudentPlatinum.com + FAFSA form tutorials and free help at FAFSAonline.com + Grad student? Get graduate financial aid information at the GradLoans.com blog! + Stafford federal student loans at StaffordLoan.com + The Financial Aid Podcast is a publication of the Student Loan Network. I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208. Technorati Tags: financial aid financialaidpodcast ShareThis Less