If Secretary of Education Margaret Spellings has her way, the Free Application for Federal Student Aid (FAFSA) will be a shadow of its former self. Under Spellings's recently proposed plan, FAFSA would cut the number of questions it asks from over 100 to roughly 27.

Have you noticed the financial crisis developing right before our eyes - this country's worst since the Great Depression? Most of us know it exists but don't understand it to the extent we should. I randomly surveyed over 120 Penn students, and only 31 percent reported that they were "extremely confident" or "pretty confident" in their ability to understand the current financial dilemma. (10 )

In May, I was dumped by e-mail. I received an notice from Student Financial Services telling me I would need to select a new lender for my Federal Stafford Loan. My original lender - along with 136 other institutions - had stopped offering the loans. A couple months later, a friend at another school updated her Facebook status to say she "thinks student loan companies can suck it. (1 )