NYTimes: New Loan Forgiveness Plans

The New York Times has posted the U.S. Department of Education's guidelines for the new federal loan forgiveness programs. This sounds like a sweet victory for college students. The interest rate on new federal Stafford loans, the most widely used federally guaranteed student loan, will drop to 5.6 percent, from 6.8 percent. By 2012, the rate will fall to 3.4 percent, under a schedule mandated by Congress.

The first option, income-based repayment, limits what borrowers have to pay to 15 percent of the difference between their gross income and 150 percent of federal poverty guidelines (After borrowers make payments on loans for 25 years, the balance is forgiven). This is better than the income-contingent repayment plan.

The second option, Loan Forgiveness for Public Service Employees, waives the federal loan balance after 10 years of repayment for anyone working in public service professions.

To participate in the program, a borrower must shift their loans into the federal Direct Loan program, in which the government extends credit directly. The forgiveness is not available for loans made by banks or other loan companies, like Citigroup or Sallie Mae.

The definition of public service under the forgiveness program is broad. Jobs in government, public schools or colleges, nonprofit organizations, public interest law, early childhood education, public health or public libraries all could qualify, according to the Education Department.

Click here for more information about the Direct Loan program. Share this good news!

Detroit Free Press: MI Students Struggle with Rising College Costs

Prospective and current Michigan college students are struggling with rising college expenses and tuition hikes. The Detroit Free Press has a three-article series below:

• College-bound hold heavy financial burden
  
• Why don't colleges cut costs?
  
• College grads getting left with low-level jobs
  

The University of Michigan Board of Regents raised tuition at the Ann Arbor, Dearborn and Flint campuses by 5.6%, 6.7% and 6.5%, respectively. Click here for more information about the current cost of attendance at Michigan.

Want to Save the World? Try These Grad Degrees

The Future Leaders of Philanthropy have outlined five professional degrees that have the greatest benefits (ROIs) for people who want to pursue careers in the social sector (philanthropy, nonprofits, social entrepreneurship, etc.).

• MBA: Master of Business Administration
  
• MPA: Master of Public Administration
  
• MSW: Master of Social Work
  
• MPP: Master of Public Policy
  
• MUP: Master of Urban Planning
  

Social Work Reinvestment Act

The future of the social work profession is at a critical point now. The Social Work Reinvestment Initiative is a collaborative effort comprised of leading social work organizations and other stakeholders committed to securing federal and state investments related to recruitment, training, retention, and research that strengthens the profession and the communities it serves. The National Association of Social Work (NASW) Executive Director stated the following:

Professional social workers provide essential services to individuals across the lifespan and have long been the workforce to guide people to critical resources, counsel them on important life decisions, and help them reach their full potential. Social workers are society’s safety net, and with our current economic challenges, this safety net has grown to include and protect a diverse group of people from all walks of life. However, serious safety concerns, significant educational debt, and comparatively insufficient salaries are threatening the ability of our nation’s social workers to provide these indispensable services. The Dorothy I. Height and Whitney M. Young, Jr. Social Work Reinvestment Act is designed to address these challenges to the profession, thereby helping to ensure that millions of individuals, families, and communities throughout the nation can continue to receive competent care. This legislation will create the foundation for a professional workforce to meet the ever-increasing demand for the essential services that social workers provide. Professional social workers have the unique expertise and experience that will enable them to help solve the social and economic challenges that our nation is facing.

Support the Dorothy I. Height and Whitney M. Young, Jr. Social Work Reinvestment Act today! To learn more about this important legislation, click here.

Need Advice? Try Helium, Associated Content

Summer is just around the corner (including Father's Day)! Graduate applications are behind me, and I am looking forward to starting at the University of Michigan this fall. If you are interested in applying to graduate school, but are unsure of why you should pursue an advanced degree, read content review sites such as Helium and Associated Content. Readers across the world post their input (with examples and explanations) on why you should pursue an advanced degree (master's, doctoral, etc.). The quick access to such a variety of advices and perspectives really helped me narrow down my academic and professional interests. You may discover that your fears and concerns about the admissions process are very minor.

U.S. News: 15 Habits of Top College Students

U.S. News and World Report has another article about fifteen habits that make top college students successful in their academics. Although this list is geared more towards high school and current undergraduate students, I believe this advice also applies to prospective and current graduate students. If you're wondering how to get back into school mode, check out the 15 traits. Overall, every graduate student should have good time management and organizational skills. Focus on the end goal (graduate degree) and look out for yourself (this includes emotional and physical well-being).

Also check out these excellent articles below:

• 10 Things to Do the Summer Before College


• 10 Must-Do's During First Week of College


• 16 Secrets of Going to See the Professor


• Etiquette for E-mailing Your Professors


• Can't Keep Up with Lectures? 10 Remedies


• How to Ace the Last Semester of College


• Why It's Stupid to Procrastinate

Common Careers among INFPs

(Note: The professions in bold are my professional interests.)

Most Common Careers among INFPs are the following:

• Activist
  
• Actor
  
• Architect
  
• Artist
  
• Church Worker
  
• Counselor
  
• Editor
  
• Educational Consultant
  
• Employee Development Specialist
  
• Fashion Designer
  
• Filmmaker
  
• Graphic/Web Designer
  
• Holistic Health Practitioner
  
• Human Resources
  
• Journalist
  
• Legal Mediator
  
• Librarian
  
• Massage Therapist
  
• Minister
  
• Missionary
  
• Musician
  
• Photographer
  
• Physical Therapist
  
• Psychologist/Counselor
  
• Researcher
  
• Social Scientist
  
• Social Worker
  
• Speech Pathologist
  
• Teacher/Professor
  
• Translator/Interpreter
  
• Video Editor
  
• Writer