PROVIDENCE, RI -- In an effort to provide college-bound students and their families with a better sense of all the financial aid options available to them, U.S. Senator Jack Reed (D-RI) today announced that he is hosting his eighteenth annual College Financial Aid Workshop on Monday, December 15 at 7:00 p.m. at the Community College of Rhode Island (CCRI).

Senator Reed, General Treasurer Frank T. Caprio, and Ray DiPasquale, President of CCRI, and others will be on hand to talk about topics ranging from qualifying for grants and loans, to meeting key deadlines, to correctly completing the Free Application for Federal Student Aid (FAFSA).

"Students need to study hard to get into college. They should also plan ahead and do their financial homework so they know how they'll be able to pay for it. This workshop is designed to help parents and students learn about their financial aid options firsthand from leaders in the field of higher education," said Reed, a member of the Health, Education, Labor and Pensions (HELP) Committee.

Last fall, Congress passed the College Cost Reduction and Access Act, which Senator Reed helped author, to provide Rhode Island students with an additional $85 million in Pell Grants over the next five years, including another $7.8 million in grant aid available to college-bound Rhode Island students for this school year. This new law also lowered the interest rates on new subsidized Stafford loans to undergraduate students, caps monthly loan payments at 15 percent of an individual's discretionary income, and offers complete loan forgiveness to students who continue in public service professions for 10 years, including teachers, nurses, and librarians.

Earlier this year, Senator Reed authored provisions in the reauthorization of the Higher Education Act to make the college financial aid application process and FAFSA form more simple and certain, and joined Senator Ted Kennedy of Massachusetts in passing the Strengthening Student Aid for All Act to help ensure Rhode Island students continue to have the best and most affordable options available to pay for college.

"It is important for students to know all the financial aid options available to them, including need-based awards and other grants. This workshop will help ensure that kids do not miss out on the opportunity to receive financial aid," said Reed, who noted that a recent study by the American Council on Education found that an estimated 1.5 million students who were likely eligible to receive Pell Grants did not apply for financial aid.

"These are uncertain economic times. I strongly encourage parents to attend this event with their children to find out all the options that are available to them and help ease their concerns about financing a college education. It is never too early for students and their families to begin preparing for college and their future," concluded Reed.

The College Financial Aid Workshop is free and open to the general public. Workshop panelists will include representatives from the Rhode Island Higher Education Assistance Authority, the Rhode Island Student Loan Authority, the Rhode Island Association of Student Financial Aid Administrators, and the Rhode Island Society of Certified Public Accountants.

WHAT: Jack Reed's 18th Annual College Financial Aid Workshop

WHEN: Monday, December 15 from 7:00 to 8:30 p.m.

WHERE: Community College of Rhode Island's Knight Campus, 400 East Avenue, Room 4080, Warwick, RI

WHO: U.S. Senator Jack Reed;

Rhode Island General Treasurer Frank Caprio;

Ray DiPasquale, President, Community College of Rhode Island;

Michael Joyce, Interim Director of Program Administration, Scholarship and Grant Division, Rhode Island Higher Education Assistance Authority;

Charlie Kelley, Executive Director, Rhode Island Student Loan Authority;

Andrea Swain, College Planning Center of Rhode Island, RI Association Student Financial Aid Administrators; and

Leigea Landry, CPA, Lefkowitz, Garfinkel, Champi & DiRienzo PC