Summer financial aid streamlining starts July 1
, more federal money will be available for summer financial aid to help students in need, and likewise, more students will be eligible for assistance. Even some parents will have a better opportunity of qualifying for summer financial aid this year to make up for any shortages they may encounter in trying to meet tuition costs.
This is all due to a law signed by President Obama this past spring, which eliminates banks from the student loan process, and thus summer financial aid. Starting in July, all student and parent loans must come directly from the U.S. Department of Education, instead of through private lenders.
