Friday, April 25th, 2008

Pennsylvania’s student-loan agency is going to cut college grants for every student by about $750, as well as offer voluntary buyouts to some employees, during the 2008-2009 school year in order to save money, according an article in the Inquirer.

The grants are given out to about 160,000 students each year, with the amount varying based on need. The awards for the current year ranged from $2,500 to $4,700, but the awards for 2008-2009 will only range from $2,100 to $3,948.

The state government has been very disappointed with some of PHEAA’s spending practices, such as giving employees large bonuses, that PHEAA has since discontinued.

Regardless, in this time with the economy down and cost of higher education rising, PHEAA’s moves make it even more difficult for students to finance college.

Photo courtesy of iCollegeServices.com.

About eight million taxpayers are going to be receiving their economic stimulus tax cut checks next week, a few days earlier than expected, according to an article on KYW1060.com.

There are many major retailers which will be offering sales to tempt people to spend their stimulus checks at their stores. Some stores are allowing discounted prices when paying with your rebate check and others are allowing the check to be traded for store gift cards of higher value.

The checks will range from approximately $300-$1,000. The U.S. Treasury hopes the rebates will pump billions of dollars into the economy by the end of May.

Photo courtesy of KYW1060.com