He's the Financial Aid Guru. Only on Fastweb.
April 22, 2009
Is your financial aid advice featured in The New York Times? Didn’t think so. Mark Kantrowitz, is nationally recognized as an often quoted leading financial aid expert. With degrees from M.I.T., Carnegie-Mellon and more quotes than Webster’s, he is the financial aid guy’s financial aid guy. Here’s his advice for these tough times.
Kantrowitz strongly encourages families to save 1/3 of the future college costs. He believes that another 1/3 can come from financial aid. And the last 1/3 comes in the form of future income from your student loans. Everyone should open a 529 Savings Plan—they’re the best.
Kantrowitz also advises families on how to save. “Try to make the saving automatic, such as setting up a monthly transfer from your bank account to the savings plan,” says Kantrowitz.
“Always borrow federal loans first. Federal loans are cheaper, more available, and have better repayment terms than private student loans,” states Kantrowitz. The subsidized Stafford and Perkins loans are for families that demonstrate financial need.
However, the unsubsidized Stafford and PLUS loans are for everyone, even those that are wealthy.
Financial aid is confusing. That’s why Fastweb users rely on Fastweb’s Financial Aid Channel. If you want to get the financial aid scoop before CNN, look for it here on the new Fastweb.