Hello FCS Subscriber! Most Americans aren't sure if the economic bailout will help them. The plan's 700 billion dollars will help Wall Street and lending companies, but will it help you? This week's newsletter will help clear that up.

One thing is for certain - this could be the best time for you to go back to school! A degree will advance your career and put you in a strong position to get a better job when the economy improves. Save your money for the necessities - housing, meals, transportation - and find a scholarship to pay for school!

Are you registered for the next FreeCollegeScholarships 10k Drawing on October 15th? Click Here to Register

In this issue we'll discuss how the economic conditions will impact your student loans. We also feature several scholarships resources that can help you pay your educational expenses.

Why is the economy so bad?
Experts have pointed out that our economy has been affected by bad loans. These loans can be between banks as well as a bank and a homeowner. In the future, most new loans will be structured better so that everyone can make their payments as planned. This will help stabilize the U.S. economy. Student loans will also be affected.

Congress is making it easier to get student loans. The Reno Gazette-Journal reported that, "Congress voted in September to extend the Ensuring Continued Access to Student Loans Act of 2008. The bill allows the Secretary of Education to purchase student loans from lenders in the federal student loan program if those lenders lack the capital to provide the loans."

How will it affect my student loans?
Getting a private or Federal Student Loan Just like people trying to borrow money to buy a home, students and parents will face tougher credit restrictions. Lenders are taking a hard look at potential default risks, asking for more salary verification and denying loans to those they think may default. That means that students should stay on top of their credit score!

The University Daily Kansan reports that, “The bailout should bring down interest rates on private student loans and increase their availability”. This is good news for people who already have a federal student loan and are looking for a second loan. Financially dependent students can receive $31,000 during their college career and financially independent students can receive $57,500.

If you have several private loans, consider consolidation. It's possible to lock in a low interest rate, which means you pay less in the long run. Finaid.org reports that the interest rates on private loans are about 11%, but the bailout may reduce the rate to 9%. Students should remember that private rates area almost always higher that federal student loan rates.

Don't miss these scholarships that you might be eligible to win!
ScholarshipProvider - The Fall drawing for this 10K scholarship will occur in just a few days. The finalist can use this scholarship to pay for tuition, room and board, books or student loan payments. Start Here

Program Advisor Scholarships - This site offers a complimentary guide to 38 million in scholarships. Also includes scholarship tips, degree and career guidance and research into the top 50 growth careers. Get Started Today.

That's all for this week! Please stay tuned for next week's newsletter!

Thank You and Good Luck!
FCS Scholarships

In this Issue

1. U.S. Economy
2. Monster Degree
3. Student Loans
4. Scholarships
5. FCS Finalist