Online Degree

Online MBA with Technology Edge From New Jersey Institute of Technology - NJIT’s Online MBA
program is offered through the School of Management, which is recognized by U.S. News & World Report’s 2012 Annual Guide to America’s Best Colleges as among the nation’s Best National Universities. The School of Management is also accredited by the Association to Advance Collegiate Schools of Business (AACSB).

The internationally accredited School of Management at NJIT teaches students how to use technology to solve modern business problems. The program is designed to help students with technical backgrounds build their business expertise and prepare for leadership opportunities.

Keeping in mind that NJIT is not a traditional business school, this new take on the MBA explores the varied ways that advancements in science and technology can provide a strong foundation for strategic 21st-century management skills. Students learn technical applications for every area of business and the importance of data-driven management decisions. The courses strategically incorporate technology-based case studies, simulations, and team projects with a range of business concepts, such as corporate finance, global marketing management, and information systems principles.

NJIT’s graduate program offers three specializations: Management Information Systems, Marketing, and Finance. The Management Information Systems concentration sharpens the MBA focus by placing strategic value on the role of information management in business. Students learn how technology can improve business process management, including how to use business intelligence systems to create a competitive advantage in the marketplace.

The Marketing concentration gives the MBA an innovative focus by teaching students how to strategize in a digital business world, where technology has revolutionized consumer behavior, redefined product life cycles, and given consumers more control. Additionally, students focus on the development and marketing of high-technology products.

The Finance concentration brings an advanced analysis focus to the MBA, which is expressed through the integration of technology and business practices. Financial literacy is critical for management at every level in every industry. Students learn the latest tools in forecasting and study the financial strategies for technology intensive firms.

For more information about the curriculum or the program requirements of New Jersey Institute of Technology's online MBA program, visit http://mba.online.njit.edu or contact a school representative at 1-877-615-9842.

NJIT, New Jersey's science and technology university, enrolls more than 8,900 students pursuing bachelor's, master's and doctoral degrees in 121 programs. The university consists of six colleges: Newark College of Engineering, College of Architecture and Design, College of Science and Liberal Arts, School of Management, College of Computing Sciences, and Albert Dorman Honors College. U.S. News & World Report's 2012 Annual Guide to America's Best Colleges ranked NJIT in the top tier of national research universities. NJIT is internationally recognized for being at the forefront of knowledge in architecture, applied mathematics, wireless communications and networking, solar physics, advanced engineered particulate materials, nanotechnology, neural engineering, and e-learning. Many courses and certificate programs, as well as graduate degrees, are available online through the Division of Continuing Professional Education. The term “Virtual Classroom®,” coined and trademarked by NJIT, dates back to the notable presence of New Jersey’s Science and Technology University in this field since 1989.

The mission of the School of Management is to create the edge in business knowledge by: preparing a diverse student body to lead globally; integrating business with ethics, technology and innovation; interacting with organizations to advance interdisciplinary research; and promoting regional economic and community development.

Sumber : http://www.prweb.com/

House to Take Up Student Loan Fix 2013 - It's a better deal at first, but student loan rates could steadily
climb and cost students more over the long haul under the plan House Republicans are considering.

Members of the Republican-led House Education and Workforce Committee planned on Thursday to finish up a bill that would keep interest rates from doubling on new subsidized Stafford loans on July 1. The GOP measure provides lower rates immediately and for the next few years, but the plan also comes with potentially higher costs for some students in coming years.

Without Congress' action, interest rates for new subsidized Stafford student loans would double from 3.4 percent to 6.8 percent on July 1. Neither party wants to see that happen, although there are strong differences in the methods to dodge that.

Under the proposal by the committee's chairman, Rep. John Kline, R-Minn., student loans would be reset every year and based on 10-year Treasury notes, plus an added percentage. For instance, students who receive subsidized or unsubsidized Stafford student loans would pay the Treasury rate, plus 2.5 percentage points.

Using Congressional Budget Office projections, that would translate to a 5 percent interest rate on Stafford loans in 2014 but climb to 7.7 percent for loans in 2023. Stafford loan rates would be capped at 8.5 percent, while loans for parents and graduate students would have a 10.5 percent ceiling under the GOP proposal.

In real dollars, the GOP plan would cost students and families heavily, according to the nonpartisan Congressional Research Service. The office used the CBO projections for Treasury notes' interest rates each year.

Students who max out their subsidized Stafford loans over four years would pay $8,331 in interest payments under the Republican bill, and $3,450 if rates were kept at 3.4 percent. If rates were allowed to double in July, that amount would be $7,284 over the typical 10-year window to repay the maximum $19,000.

For students who borrow the maximum subsidized and unsubsidized Stafford loans, they would pay $12,374 in interest under the Republican bill. The interest charges would be $10,867 if subsidized loans were allowed to double in July, or $7,033 if rates stay the same. The maximum available in subsidized and unsubsidized amounts is $27,000.

Graduate students and parents, meanwhile, would see interest payments reach $27,680 for four years of college under the GOP plan. If Congress keeps the rates the same, their interest payments would be $21,654 on the original maxed-out $40,000 loan, according to the Congressional Research Service report.

Democrats ahead of the hearing pledged to oppose Kline's plan and said they would offer amendments to the bill. They declined to provide further details before Kline gaveled the committee into its morning session. One idea that is popular among Democrats is to extend the 3.4 percent rate for subsidized Stafford loans for two years while leaders work on a long-term fix.

Obama's budget outline included flexible rates for student loans, pegging the interest to markets, but did not have a cap. Republicans had long pushed for the flexible rates and Kline said he would go along with Obama on that principle while adding a cap that Democrats sought.

During the 2010-11 academic year, about 7.5 million undergraduates borrowed from the subsidized Stafford loan program. In all, there were 36 million students loan borrowers through federal programs, according to the Education Department.

Source : http://abclocal.go.com

Rutgers Coach Never Completed Degree - A report by the Web site Deadspin on Friday suggested that Jordan did not earn an undergraduate degree

Rutgers initially issued a statement that did not directly address whether Jordan had graduated. It instead noted that he was inducted into the Rutgers Hall of Distinguished Alumni in 2004 and that he had been part of the Rutgers “family” since before 1977.

“His athletic skills and leadership and his professional accomplishments have been a source of pride for Rutgers for more than three decades,” the statement said.

Later Friday, the university said it was “in error” when it reported that Jordan had earned a degree from Rutgers. The university said neither it nor the N.C.A.A. requires a head coach to hold a bachelor’s degree.

However, recent athletic department job postings, including one this week for an assistant basketball coach, list a bachelor’s degree as a requirement.

“Rutgers sought Eddie for the head coach position as a target-of-opportunity hire based on his remarkable public career,” Rutgers’s second statement said.

The episode is the latest in a sequence of embarrassing events for the university and its athletic department in the past month and a half. Jordan, who was introduced as the Scarlet Knights’ basketball coach on April 23, was hired to help restore the program’s reputation after his predecessor, Mike Rice, was fired following the release of a video in April showing him berating his players with homophobic slurs, throwing basketballs at them and pushing and kicking them during practice. Jordan’s professionalism and deep ties to the university were among the attributes mentioned by university officials when he was hired. (see HERE)

The furor surrounding the video of Rice led to the resignation of the athletic director, Tim Pernetti, as well as other officials, and the university faced widespread criticism for choosing to suspend Rice rather than fire him after learning of the video last year.

Rutgers appears poised to move forward with Jordan’s appointment. “We are excited to have him as our men’s basketball coach, and we look forward to many winning seasons,” it said.

A dozen years ago, Notre Dame terminated its newly hired football coach, George O’Leary, after he admitted falsifying parts of his résumé, including his claim that he had a master’s degree in education from New York University. O’Leary had been on the job for five days before the falsifications came to light.

A key difference is that Rutgers would presumably have had far better access to the records of Jordan, who has been honored repeatedly by the university for helping to lead it to its only Final Four appearance, in 1976. Jordan went on to play in the N.B.A., winning a championship with the Lakers, and was a head coach in the league for nine years.

at Rutgers 36 years ago when he was a star player, despite previous statements that he had. Deadspin reported that the Rutgers registrar’s office denied that Jordan had a degree from the university, which contradicts the biography on the university’s Web site, which says that he “earned All-America honors as a senior in 1977 before earning a degree in health and physical education.”

Source : www.nytimes.com

How to Measure a College's Commitment to Low-Income Students - Until recently, it has been very difficult to assess how well individual colleges are serving low-income students. Policymakers, researchers, and journalists have mostly had to rely on a single measure to do so: the proportion of Pell Grant recipients each college enrolls.

While this dataset provides a useful tool for comparing colleges based on their record of admitting low-income students, it does not tell us anything about the schools’ commitment to making college affordable for these individuals. For example, if a college enrolls a large number of Pell Grant recipients but doesn’t come close to meeting their remaining financial need, it may be setting them up for failure.

In 2008, Congress recognized the need for policymakers to get better information about how colleges are spending their institutional aid dollars — financial aid they provide students from their own resources. As part of legislation to reauthorize the Higher Education Act, lawmakers required colleges to report to the U.S. Department of Education the average net price they charge first-time, full-time students, broken down by income for those individuals who receive federal financial aid. The net price is the amount of money that students and their families have to pay after all grant and scholarship aid is taken into account.

The net price data provide a clear picture of the financial hurdles that low-income students face at individual campuses, and they open a window on how colleges are spending their institutional aid dollars. But the view is far from complete, as the data include only those students who receive federal Title IV grants or loans. Wealthy students who receive only merit aid from their schools are not captured in these data. As a consequence, we remain in the dark about the extent to which colleges are using their aid to help those without financial need.

Higher education lobbyists have repeatedly beaten back efforts by policymakers to force colleges to reveal more about their financial aid practices. In 2008, for example, they fought a proposal included in the original House reauthorization bill that would have required colleges to report to the Education Department the average amount of institutional grant aid that they provide to their students and the average net price they charge, with each disaggregated by students’ family income. These data were to reflect the experiences of all students at a school, including those with family incomes of $140,000 a year or more.

College lobbyists opposed the provision, arguing that colleges don’t have any way of knowing how much students and their families make if they haven’t applied for federal aid. It’s unclear, however, why schools can’t at least report the disaggregated data for all students on their campuses receiving institutional aid.

Despite the data’s limitations, the net price information is extremely helpful in showing the real prices that low-income students must pay. That’s because the vast majority of the neediest undergraduates receive federal financial aid.

According to a report that the research and advocacy group Education Trust published in 2011, titled “Priced Out: How the Wrong Financial-Aid Policies Hurt Low-Income Students,” 82 percent of full-time students with family incomes of $30,000 or less obtain federal grants and/or loans. In contrast, only about a third of students with family incomes over $110,000 receive federal aid.

As a result, the net price data provide a much more accurate measurement for judging how well different colleges are serving low-income students than just the Pell Grant data alone. For example, the University of Cincinnati has repeatedly earned a top spot in rankings that The Chronicle of Higher Education has published comparing wealthy colleges based on the proportion of low-income students they enroll — with Pell Grant recipients making up 27 percent of the university’s students. But the net price data (which wasn’t available when the Chronicle last conducted its rankings) show that the school’s lowest-income students must pay a hefty price: an average of nearly $15,000 after all grant and scholarship aid is taken into account.

Similarly, Syracuse University has appropriately received a lot of praise for the substantial efforts it has made to admit low-income students. After all, 27 percent of Syracuse’s students receive Pell Grants — a figure that is largely unmatched by peer institutions in the private college sector. Still, the net price data reveal that the university’s neediest students must come up with an average of over $18,000 to attend.

Why do low-income students at these wealthy universities have to face such high prices? Is it because schools simply can’t afford to meet their financial need? Or is it because the institutions are redirecting a large share of their aid dollars to helping more-affluent students? We won’t know for sure until colleges are required to lift the veil off their institutional aid practices, once and for all.

Source : inthetank.newamerica.net

Update List College Names Finalists for President's Post 2013 - Alamance Community College has

The full Board of Trustees will begin meeting with the finalists with hopes of finding a successor for retiring president Martin Nadelman by July. Nadelman, who has been with ACC since 1999, will retire effective Oct. 1.

ACC staff, faculty and the community will have a chance to meet all the finalists in a series of informal meetings.

Source : www.thetimesnews.com

Durham-Based Squord Scores with TechStars - Coleman Greene is a really nice guy. He's the kind of guy who phones you back immediately when your call is dropped.

I spoke with him over the weekend — earlier than I usually use my professional voice on Saturdays. I was in my bedroom still wearing my pajamas and silently pleading with AT&T's unreliable service to not cut out again, please, damn it. My phone rang, and he bushed off my apologies with an understanding laugh. Maybe he has AT&T, too.

Coleman Greene is also a really smart guy. A Vanderbilt graduate who got his MBA at UNC, he cofounded Sqord, which celebrates its two-year anniversary in June. Haven't heard of Squord yet? You will: The company recently was accepted by Chicago's TechStars, a highly competitive three-month mentorship program that nurtures and funds companies in the early stages of development.

Self-described as a “one part game platform, one part social media, and one part fitness tracker,” Squord encourages kids to lead healthy lives through active playtime.

Using its hardware and software platforms, kids can track their movement and upload activities to their social media accounts. Whether they're running, skateboarding, riding bikes, or even taking out the trash, when they swipe their PowerBands over a Sqord SyncStation (located at home and in schools), they score points, get medals, win competitions, and can, basically, brag online to their friends about all the cool, active stuff they're doing. High five, kids. I should probably hit the gym.

Squord's inclusion in TechStars gives the company access to an impressive network of mentors and investors that can really push it from the “early seed stages” into the next, more mature phase.

“We're using this as an opportunity to polish the rough edges,” Coleman says in a subtly southern accent, his own children clamoring in the background. “We want to build a platform and a brand that is a leader in health and fitness.”

Located in American Tobacco, Squord is in good company, as that downtown destination has become pretty popular among hip Durham start-ups. But a program in Chicago, Coleman explains, makes a lot of sense for them, because they do a lot of work with BlueCross BlueShield and the YMCA, both of which are headquartered in the Windy City. (Plus, his wife grew up there.)

Colman originally reached out to TechStars in 2011 but was turned down. However, he got some good feedback. They encouraged him to keep in contact, so, throughout the year, he'd send the investors updates on the company's progress.

With four full-time employees and one heavily involved contractor on board, he reapplied — and, this time, luck was on his side. TechStars has accelerated companies like Distil, and Ubooly, putting them into the big leagues by helping them raise millions of dollars. What start-up wouldn't want that?

Keep your eye on Squord and the interesting things they're doing in the digital arena. And, if you haven't already, tell your kids to sign up.

College Allocation Reduced for 2013 (Costly Classrooms) - Justin Capouellze works part time at the
Market Basket in Richland Township, doing anything that needs done. He also works as  a landscaper and at the commercial site of Stuver’s Nursery.

Capouellze, 20, a 2011 graduate of Greater Johnstown High School, knows how hard it is to earn money when so much has to go toward his college tuition.

His task will be even harder with an anticipated decision by the Cambria County Commissioners.



Effective with the 2014 budget, the commissioners plan to reduce the county’s allocation to Penn Highlands Community College, the school Capouellze attends.

“I’ve got to go back and look at my budget and find out where that money is going to come from,” Capouellze said.

“I’m worried about increasing my student loan debt.”

The commissioners recently notified the Penn Highlands board of directors that the county’s 2014 allocation will be reduced by $150,000 from the annual contribution of

$1.2 million, which includes $300,000 toward debt service.

The contribution does not come from Cambria County’s general fund, but rather a 1-mill dedicated tax imposed by county leaders about two decades ago when what was termed “The College Without Walls” was established.

Funds withheld from the college will be used for what Cambria County commissisoners Douglas Lengenfelder and Mark Wissinger are terming “economic development.”

Wissinger said the money is needed to cover costs associated with the planned Cambria County Economic Development Authority and setting up a foreign trade zone, which is designed to foster job creation.

“Last year, in the 2013 budget, to get enough money for economic development, we kind of robbed Peter to pay Paul,” Wissinger said.

The $150,000 cut, according to Frank Asonevich, Penn Highlands president, translates into a per student tuition hike of $75 per semester, or $150 per year. At this point, the only way to make up the $150,000 is by turning to the students, he said.

“I’m concerned if they’re going to look at the college budget and see it as a resource for other projects,” Asonevich said.

Future funding cuts to the college are not planned, said Lengenfelder who also is a member of the community college board. Prior to his election as commissioner, he taught at the college.

Lengenfelder views the funding reduction as indictive of what is happening everywhere in Cambria County government.

County offices have been forced to cut their expenses by 4.75 percent, something all are in the process of doing. The cut to the college, Lengenfelder said, is just more than 1 percent of its total annual budget of more than $12 million.

Those objecting to the cut point out it amounts to more than 12 percent of the total contribution from the county, far higher than the percentage of cuts in other budgetary areas.

Despite this, the $1.2 million the county is giving the college annually is significantly higher than what started out at $500,000 20 years ago, Wissinger said.

The total has more than doubled over the years, in part due to the action in 2005 to set the assessed ratio at 100 percent, up from the 50 percent of a property’s assessed valuation, Wissinger said.

County records show that in 2004, the college was receiving the revenue generated from

1.5 mills. Following the percentage change it was decreased to .75 mill and in 2010 increased to 1 mill.

This year, Cambria is facing a chicken and egg question – which comes first, Lengengelder said.

“With this, we will have a dedicated $150,000 a year for economic development, something the county has never had before,” he said. “It’s great to have an education, but if you have no jobs, it becomes an additional problem.”

A similar amount was carved out of the 2013 budget earmarked for economic development at the Johnstown/ Cambria County Airport.

The scope of Lengenfelder’s plans were larger than the all-volunteer airport authority wanted to tackle and the full $150,000 is still intact after Lengenfelder, in recent days, returned a $75,000 check to the county, Cambria County Controller Edward Cernic Jr. said.

Lengenfelder said the money will be used this year as efforts progress to form the authority, geared at economic development, and the $150,000 from the college will replace that county allocation.

Formed in 1993 as Cambria County Community College by commissioners Wissinger, Kathy Holtzman and the late Ted Baranik and later changed to Penn Highlands, the college has branch campuses in Richland, Ebensburg, Somerset and more recently Huntingdon.

The college is one of Holtzman’s most significant accomplishments.

“It’s my baby,” said Holtzman, who serves as vice president of the board. “It’s grown beyond my imagination.”

Holtzman said she has mixed emotions about the funding cut.

“I hate to see that happen, but I understand the position the commissioners are in,” she said. “We have to take our hit here, everybody is getting cut.”

Commissioner Thomas Chernisky said a vote on the initiative to cut the college’s contribution is a long way off.

“A lot can happen between now and the end of the year,” he said. “I’m not going to be supporting it, but we’ll vote at budget time.”

Penn Highlands is one of the fastest growing colleges in the state, Chernisky said, and deserves kudos for all it has accomplished in tough times.

“The college is an investment and a real economic generator for our county. We need a trained workforce,” he said.

Passing the cost of the cut onto the students is a move Holtzman is opposed to. She plans to come to an August meeting between the college board and Penn Highlands Foundation with some ideas about bringing the business community on board.

“I think we have to make up the money in other ways,” she said. “Businesses have an interest in the community college and we need to look for new revenue sources we can tap.”

Debt a drag on UK youth - Hard times - Young adults are finding it almost impossible to break free from their parents, both emotionally and financially, as they struggle to become independent, a British study has revealed.

A survey of 1500 people aged between 18 and 30 by The Co-operative Group found that debt had become the "new normality" for their generation.

Student loans, credit cards, loans and overdrafts were the main sources of debt, with almost a third admitting they are hiding the state of their finances from their parents.

More than four out of five of those questioned are receiving financial support from their parents, needing help to buy food or repay debts.(see HERE)

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Most also turned to their parents to help find a job, give them lifts, or do household chores, the report says.

The study also revealed that 18 to 30-year-olds were earning over £7000 ($A10,645) a year less than they thought they would in relation to their age and education, while one in 10 did not feel their job matched their qualifications.

Two-fifths of those surveyed were dissatisfied with their lives, believing they should have achieved more.

Martyn Wates, deputy group chief executive at The Co-operative Group, said: "It should not be forgotten that it is these young adults who are ultimately going to shape the future of Britain for years to come, so they need support and encouragement to thrive which, in turn, will only be positive for the future of the country.

"Whilst it is positive to see that young people believe that they will one day earn a healthy salary, the survey has signposted that the earnings of 18 to 30-year-olds do not currently live up to expectations which highlights that, for now at least, this ambitious group may have to re-evaluate their ideals."

The research also revealed that one in four young adults had never climbed a tree or played the traditional British game of conkers and one in eight had never ridden a bike.

New Groupon Offer IT University Online 2013 - IT University Online (ITU)

http://www.ituniversityonline.com is releasing a new Groupon offer for their Sage 50 Certification Bundle this upcoming Monday (May, 6, 2013). ITU targeted Sage training for their next Groupon offer due to the clear demand from accounting professionals for quality online education. Sage is one of the most utilized and important accounting

IT University has previously released Groupon offers for their Cisco Certification Training Bundle, Microsoft Office Certification Career Advancement Bundle & Complete CompTIA Certification Bundle. The strong success of these offers has proven that industry professionals are looking for a quality training solution that doesn’t break the bank. As ITU’s Manager of Student Services, John Tesse, explained: "Too many industry professionals and aspiring industry professionals never get the training they need, simply because the cost is too high. In today’s economy, many people sit in the catch 22 of not being able to get the job because they don’t have the training and not being able to get the training because they don’t have the income from the job. I believe we’ve caused an end to that dilemma for many people by offering high quality training at a price that is affordable for almost every family.”

The accounting field is rebounding strongly from its downturn a few years ago and the market is now ripe with opportunity for those that possess the certifications necessary to qualify for the variety of accounting positions currently available. Recognizing this demand, IT University capitalizes on offering high quality instruction in an online delivery format that suits anyone’s busy schedule. This allows for a customized study experience and eliminates the “cookie cutter” training approach of many traditional classroom facilities. ITU also provides one-on-one support so students can work with a certified instructor when they need assistance. ITU consistently sets themselves apart from the others in their space by using visual and interactive training techniques to increase student’s retention level of their training material. Their courses include features such as: instructor led lectures, visual demonstrations, multi-media presentations, test simulations, one on one support and guaranteed certification. With their On Demand Training students can repeat topics as many times as they want before moving forward. This allows participants in their program to make sure they are thoroughly trained before moving forward in their course. Ultimately, this translates to over a 97% pass rate for IT University’s classes. ITU’s management team is thrilled to bring this new offer to market and continue to help professionals gain the training they need at the price they want.
 

Source : www.timesunion.com

Interest Rates on College Loans on Way Up - Putting her self through school, Shayna Stevens relies heavily on student loans to pursue a degree in secondary education at Northern Arizona University.

Currently a sophomore, Stevens said she is already $40,000 in debt. She works part time during the school year and plans to take two jobs over the summer to keep that amount as manageable as possible.

"If I didn't have to take out these loans then I wouldn't have to work all these extra jobs on the side and I could focus more on my studies and actually getting the education that I'm paying for," Stevens said.

Things won't be getting any easier next year. Unless Congress acts before July 1, interest rates on subsidized student loans, for which students must demonstrate financial need, will rise from 3.4 percent to 6.8 percent.

Students don't have to pay interest on subsidized loans while in school. Unsubsidized loans, which currently have a 6.8 percent interest rate, require students to pay interest on loans from the start.

Stevens, who has both types of loans, said she plans to finish her education but has concerns about her peers. She said she already has seen friends drop out of NAU after realizing that the financial burden would be too much.

"I think there's definitely going to be a huge drop out from students who just can't afford to take on these loans anymore," Stevens said.

Serena Unrein, public-interest advocate with the Arizona Public Interest Research Group, said the average Arizona student borrower will pay $1,000 more in interest if the rates double. (see HERE)

Jennifer Johnson, a senior at Arizona State University who took out subsidized loans throughout college, said that with the current interest rates she will be paying close to $2,000 in interest over a 10-year period.

"Doubling it to $4,000, I just can't even imagine," Johnson said.

Tucsonan Ann-Eve Pedersen, president of the Arizona Education Parent Association, said she has talked with parents who won't be able to send their children to college because of the rising cost not just of loans but tuition.

"We're just making higher education unaffordable, but we know that all of the quality jobs now and definitely in the future are going to require higher education, so we're moving in the absolute wrong direction as a state," Pedersen said.

Unrein said that the increased interest rates could also influence the decisions students make after college. She said that those with a lot of debt may choose to not go into lower-paying careers such as teaching or working for nonprofits.

"We need people to go into careers as teachers, as first responders, and if we're saddling people with the kind of debt that makes it impossible to go into those careers then that leaves our state in a world of harm," Unrein said.

The interest rates on subsidized loans were set to double last year as well. Just before the deadline, Congress passed a one-year extension of the 3.4 percent interest rates.

Megan McClean, director of policy and federal regulations with the National Association of Student Financial Aid Administrators, said that another one-year extension is unlikely.

"Last year, extending it for one additional year cost $1 billion, and I'm sure you know that that money is hard to come by in these particular times that we're in," she said.

McClean said that Congress and President Obama are looking for long-term solutions. In Obama's fiscal 2014 budget, he called for student-loan interest rates to be set each year based on the current market rate.

"I think from a broader standpoint … we need to find a long-term sustainable solution versus these quick fixes," McClean said.

Amid national discussions on college affordability, Sheila Shelton decided to return to college after 30 years. She took out subsidized loans to pay for an education degree at Phoenix College. (see HERE)

"If it doubles, I don't know if I'll be able to pay it all back," Shelton said. "It'll be a lifetime. I'm already over the age of the average student."

However, Shelton said that she won't let the increase postpone her dream of being a special-education teacher.

"It's going to be a challenge, but at this point I'm up for the challenge," she said.

Loan types

Subsidized

• Recipients must demonstrate need.

• The U.S. Department of Education pays interest: while a recipient is in school; during the six months after the recipient leaves school (only applies to loans disbursed before July 1, 2012); or during a period of deferment.

• Currently have an interest rate of 3.4 percent.

Unsubsidized

• No financial need necessary.

• Students are responsible for paying interest from the outset.

• Currently have an interest rate of 6.8 percent.

Source: Federal Student Aid Office of the U.S. Department of Education