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 In a bid to cut government spending and to raise debt ceiling, a deal was signed on August 2nd by President Obama. According to the proposed budget cuts, adjustments will be made to the student’s financial aid.

The deal proposed the removal of interest subsidized loans offered to professional and graduate students. Previously, interest free graduate subsidized loans were offered where students did not have to pay interest for the first six months after graduation.

This loan interest will not be covered by the government anymore which means this will be added to their debts. This in turn will increase the amount students will have to pay back in the long run.
For students who wish to get stuck with as minimal debt as possible even as they attend school, one of the best options could be to take online graduation courses. As compared to campus based programs, students can enroll in online schools to complete their course on time. This in turn will give them ample time to work in full time jobs.

New debt deal has also removed the rewards system which will affect the graduate students who benefit from financial aid. Students who paid regularly for the first twelve months were previously given preference. A part of the initial loan fees were refunded to them. This credit is no more effective. According to the Congressional Budget Office, over $21.6 billion taxpayer’s money will be saved.

For graduate students however, this will add into the tuition costs thousands of dollars. Online education programs seem to be the best and only answer. By opting to complete online graduate courses, students can find more time to work towards paying off their loan debts.

Thankfully, Pell Grants are still allowed in the debt reduction plan. This grant helps at least 8 million students below poverty level pay their tuition costs. The only change in Pell Grants is that over the next few years, its budget will be lowered. This however should not affect many.

There are many resources that will help you lower your debts and make it easier for you to work full time and pay off your loans by studying online. You can use the tools offered by various websites to prepare best for your career by identifying the right online degree program.

Apart from helpful information, these sites also offer lists of top careers to choose from and news updates. This will keep you well informed about financial aid available and other education related information. You can also find a variety of interesting education blogs with valuable advice from industry experts.

Some of the popular topics dealt with by these experts include best careers, tips for job hunting and how you can start your career after completing your education successfully in keeping with the government policy changes.

If you are a student affected by the debt deal, you can reach out for online education and complete your college. Take guidance from websites that will help you deal with your commitments and responsibilities. Complete your online program studying any time you want to. In no time, you can start on your successful career.