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  • +20

    Student Loan Glossary

    Student Loan Glossary
    To fully understand your student loan options, it helps to understand some basic loan terms. You'll find them scattered throughout loan materials and in conversations with financial aid advisors. Use this glossary to get the terms straight on your loan. Accrued interest: The interest that accumulates on the unpaid balance of a loan. Annual percentage rate (APR): The interest associated with ...
    Published over 1 year ago | Rated: +20
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    Making Smarter Student Loan Decisions

    Making Smarter Student Loan Decisions
    It’s no secret that college is getting more expensive by the minute. For instance, the cost of education at a university rose from 23 to 38 percent between 2001 and 2010. That’s a huge climb! In attempts to make college possible, many students take out student loans in pursuit of their higher education. While an investment in education is one of ...
    Published 10 months ago | Rated: +20
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    If the Financial Aid Package Does Not Fit, A Request for More Aid You Should Submit

    I'm 16 years old and I'm the valedictorian of my senior graduating class in New York City. This year was a very difficult one finding the right college to go; fortunately I did find the perfect college. The problem is that the college left me with an unmet need of almost $13,000 when my Student Aid Report from the FAFSA said ...
    Published almost 4 years ago | Rated: +20
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    Tuition and Fees Deduction

    The Tuition and Fees Deduction allows taxpayers to deduct up to $4,000 in tuition expenses as an above-the-line exclusion from income. This tax benefit is also known as the Limited Deduction for Tuition Expenses or as the Torricelli Deduction. This deduction may be taken even if the taxpayer does not itemize. The deduction is currently set to expire at the end ...
    Published almost 5 years ago | Rated: +20
  • +19

    Avoiding the Average...

    Avoiding the Average...
    ...When It Comes to Your Student Debt So, what’s the deal with debt these days? Well, a lot actually. And, unfortunately, it’s not good news. According to a recent report released by the Institute for College Access & Success’ Project on Student Debt, which also appeared on CNNMoney, the average debt for a student in the class of 2012 was $29,400. ...
    Published 5 months ago | Rated: +19
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    How to Evaluate Financial Aid Award Letters with Missing Tuition and Grant Information

    We have a dilemma here. My son has been accepted by five colleges: four public colleges and one private college. The private school is the only one that is showing us the "sticker price." The rest, while they have sent aid packages, are not firm on what their fees are for the upcoming fall semester or academic year. The deadline to ...
    Published about 3 years ago | Rated: +19
  • +19

    The Horrors of Defaulting on Education Debt

    The Horrors of Defaulting on Education Debt
    This is a cautionary tale of the consequences of defaulting on education debt, based on the experiences of seven borrowers of federal and private student loans. The stories are all true, but names and inconsequential details have been changed to protect the borrowers. Education debt is a necessary evil. Most students graduate from college with debt. For example, seven out of ...
    Published over 4 years ago | Rated: +19
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    Money Saving New Year's Resolutions

    Money Saving New Year's Resolutions
    It's 2014 - the year of the horse has arrived! In the Chinese zodiac, the spirit of the horse represents a constant effort to better oneself, which means that this year could not be more perfect to spend focusing on your education and, of course, a way to pay for it! Here are some suggestions of resolutions you can take on ...
    Published 3 months ago | Rated: +19
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    Help Your Teen Stay Debt Free in College

    Help Your Teen Stay Debt Free in College
    Tom is a graduate student at a Midwestern university completing a major research and writing project on student credit card debt. When Tom was in college, he built up $15,000 of credit card debt because he never learned how to use credit cards responsibly. In some ways, Tom was fortunate. He didn’t suffer many of the consequences of getting into that ...
    Published almost 6 years ago | Rated: +19
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    Changes to the 2012 - 2013 FAFSA

    Changes to the 2012 - 2013 FAFSA
    For many students, January 1 is doomsday. It’s the day the FAFSA application becomes available, triggering an overwhelming sense of dread as students either fill out the FAFSA alone or with their parents. Fortunately, the FAFSA gets easier each year as the Department of Education continues to make improvements to the application system and the designation of federal aid. Before we ...
    Published over 2 years ago | Rated: +19
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    Parent Tips: Financial Aid

    Parent Tips: Financial Aid
    We asked parents to share their advice on the financial aid process, based on their experiences with their children. Here's what they said: "Keep a file folder with each piece of correspondence in it. That way you have a paper trail. Every time a new loan, grant or financial aid comes in, you may receive a revised bill. Also, make sure ...
    Published almost 5 years ago | Rated: +19
  • +19

    The Restoration of Lower Student Loan Rates

    The Restoration of Lower Student Loan Rates
    Remember when student loan rates doubled in July after a lack of congressional action to stop it? That’s been reversed, after President Obama signed a law that restores lower interest rates for students. Republicans and democrats were finally able to come up with, what the President called a sensible, reasonable approach. The compromise came about after a series of summer negotiations. ...
    Published 8 months ago | Rated: +19
  • +19

    Should Parents Transfer College Savings from an UTMA Account to a 529 Plan?

    My twin daughters will be entering college in the fall. We have saved for their college education over the last 17 years. Presently the savings are held in two accounts each: a custodial account under the Uniform Transfer to Minor Act (UTMA) and in a Coverdell Education IRA account. I recently read that in connection with evaluating any possible financial aid ...
    Published over 3 years ago | Rated: +19
  • +18

    How to Minimize Student Loan Debt

    How to Minimize Student Loan Debt
    This article discusses the need to minimize student loan debt and provides more than a dozen practical tips on ways to reduce borrowing for college costs. Try to avoid overborrowing for your college education. Do not treat loan limits as targets. A good rule of thumb is that your total education debt for your entire college education should be less than ...
    Published about 3 years ago | Rated: +18
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    State-Based Tuition Breaks

    You may already know about federal aid for college, but did you know your state could help out as well? Most states offer financial incentives to residents as well as awards based on academic merit and financial need. In-state Assistance States have a lot of reasons for offering grants to students who attend in-state colleges and universities. "We want to keep ...
    Published over 5 years ago | Rated: +18
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    Top Twelve Tips for Asking for College Savings Cash

    Top Twelve Tips for Asking for College Savings Cash
    This article lists a dozen tips for asking for college savings cash as an alternative to traditional material gifts. It is a summary of the longer article, How To Ask Friends and Family for Money for a Child's College Savings Plan. 1. The only way to get a cash gift to a child's college savings plan is to ask. If you ...
    Published almost 3 years ago | Rated: +18
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    Bridge the Financial Aid Gap

    For many college-bound students the anticipation of higher education is overshadowed by financial anxieties. With tuition rising faster than financial aid dollars, more students are finding gaps in their financial aid packages. The gap appears when the student's expected family contribution (EFC) plus the school's financial aid package don't equal the cost of attendance. This gap appears as unmet need on ...
    Published over 5 years ago | Rated: +18
  • +18

    When Student Loans Aren't Enough

    When Student Loans Aren't Enough
    Though federal student loans (such as the Federal Stafford Loan) help many students to attend college, families often find that even the maximum loan amounts are not enough to pay for their education. For instance, the average cost of attendance at a four-year public school for the 2012-2013 academic year is $22,261 and at a four-year private school, it’s $43,289— yet ...
    Published almost 5 years ago | Rated: +18
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    Prepare to Pay Even More for School

    Prepare to Pay Even More for School
    Student Loan Interest Rates Set to Skyrocket for 7 Million Students & Counting If Congressional action isn't taken, the interest rates on government subsidized student loans will double to 6.8 percent on July 1st of this year. This change will affect one third of undergraduate students who are receiving Federal Direct Stafford Loans. The high interest rates aren't news to undergraduates ...
    Published 11 months ago | Rated: +18
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    Consequences for Student Financial Aid If Congress Doesn't Raise the Debt Ceiling

    The game of chicken being played out in Washington, DC, may have serious consequences for student financial aid as well as the rest of the economy. Congress and the White House are fighting over raising the debt ceiling, which caps the amount the federal government can borrow to pay its bills. The current debt ceiling is set at $14.294 trillion. The ...
    Published almost 3 years ago | Rated: +18