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  • +7

    Is a 3.75% Cash-Out Refinance on a Mortgage Better than Federal Student Loans?

    I have daughter who will be attending college in the fall of 2013 (and a son in 2017). For various reasons, our savings are not sufficient to pay for college given the current costs that I see. As home mortgage refinance rates have dropped to their lowest levels in my lifetime (around 3.75%), I had the notion of conducting a refinance ...
    Published about 2 years ago | Rated: +7
  • +16

    Figuring College Cost: The Package Deal

    When you want to know what something costs you check the price tag, right? But sometimes it's not so simple. Compare going to a big-ticket school with attending a college with less expensive tuition. You might think it's easy to figure out which will cost you more. But in fact, every school figures out your financial aid package differently. And that ...
    Published about 6 years ago | Rated: +16
  • +5

    Borrowers with a Recent Bankruptcy are Ineligible for the Federal PLUS Loan

    Borrowers who have had a bankruptcy discharge in the last five years are generally not eligible for the Federal PLUS loan. They remain eligible, however, for Federal Stafford, Federal Perkins and Federal Consolidation loans. Section 428B(a)(1)(A) of the Higher Education Act of 1965 [20 USC 1078-2(a)(1)(A)] specifies that borrowers of a Parent PLUS or Grad PLUS loan may not have an ...
    Published over 2 years ago | Rated: +5
  • +5

    Financial Aid for Veterans and their Dependents

    Financial Aid for Veterans and their Dependents
    This section of FinAid discusses student aid programs for veterans and their dependents. A discussion of the student aid treatment of veterans education benefits and the definition of a veteran for student aid purposes can be found in the Veterans and the FAFSA section of FinAid. U.S. Department of Veterans Affairs Education Benefits The Department of Veterans Affairs provides information on ...
    Published over 5 years ago | Rated: +5
  • +4

    How the Increase in Financial Aid Applications Will Affect You

    How the Increase in Financial Aid Applications Will Affect You
    Colleges all over the country are seeing a rise in applications for federal financial aid. In 2008, more than a million more students applied for financial aid, marking a 10.5% increase from 2007. In the first quarter of 2009, applications for financial aid are up 20.8% as compared with the first quarter of 2008. Not only are more students applying for ...
    Published over 5 years ago | Rated: +4
  • -1

    Potential Impact of the Fiscal Cliff on Federal Student Financial Aid

    The Budget Control Act of 2011 enacted automatic across-the-board spending cuts in the federal budget if Congress in unable to achieve specified reductions in overall spending on its own. This process is called sequestration. The White House's Office of Management and Budget released a 394-page report on Friday, September 14, 2012, detailing the specific budget lines in the FY2013 budget that ...
    Published almost 2 years ago | Rated: -1
  • +2

    Excerpts from the Democratic and Republican Party Platforms on Student Financial Aid

    This article provides excerpts of the proposals concerning student financial aid for college that appear in the 2012 Democratic National Platform and the 2012 Republican Platform. Neither platform, however, contains a lot of detail about student financial aid. Some of the key differences between the two parties include the role of banks in making new federal education loans, changes in funding ...
    Published about 2 years ago | Rated: +2
  • +7

    Does Adoption Affect an Orphan's Eligibility for Financial Aid?

    I am trying to advise two students whose mother died four years ago and their father died last week, unfortunately. The girls' grandmother is now taking care of them (a 9th and 10th grader) and we are concerned about the possible college financial ramifications. They are in the process of determining the Social Security benefits from their father's contributions. Once that ...
    Published over 1 year ago | Rated: +7
  • +4

    Should Wealthy Parents Cut Family Income Tenfold to Help their Children Qualify for Need-Based Student Financial Aid?

    My wife and I make about $150,000 in combined income. We have probably $350,000 in home equity, $100,000 in rental property equity and $500,000 in retirement accounts. We have three kids in college and a fourth starting in the fall a year from now. We hope to quit our jobs at some point and move to Nicaragua (or another Central American ...
    Published over 2 years ago | Rated: +4
  • +4

    Kantro's Tips to Save You Money!

    Kantro's Tips to Save You Money!
    Financial Aid Guru Mark Kantrowitz has compiled his top tips on repaying student loans, saving money and alternatives to student loans. Any wise student will heed this advice! Repaying Student Loans • Sign up for auto-debit with electronic billing, where the monthly loan payments are automatically debited from your bank account. Many education lenders offer a 0.25% or 0.50% interest rate ...
    Published about 4 years ago | Rated: +4
  • +22

    Guidelines for Financial Freedom

    Guidelines for Financial Freedom
    When you’re a student trying to pay for school, one of the greatest challenges can be managing your finances in the best way possible. With so many options out there, it’s difficult to decipher right from wrong and what will be best for you in the future. Following these guidelines will help you understand how to determine what’s best for you, ...
    Published about 1 year ago | Rated: +22
  • +6

    How to Deal with a Defaulted But Paid-Off Student Loan that Reappears

    Years ago, I went to a two-year school and obtained my Associate's degree. I defaulted on the loan. However, my taxes were taken years later (twice) to take care of the loan. In 1995, I enrolled at a different college and was awarded the Pell Grant. I didn't take out any more loans. I paid the difference with a scholarship from ...
    Published over 2 years ago | Rated: +6
  • +9

    Why Do Financial Aid Application Forms Use Last Year's Income?

    Why do the government and colleges use last year's income to determine financial aid for the current year? Our financial situation has changed, my husband was laid off last year but our FAFSA looks okay because of his severance pay. We need financial aid help in order to help our daughter who wants to attend college in the fall. How can ...
    Published over 1 year ago | Rated: +9
  • +7

    Congress Proposes Cutting Student Financial Aid in FY2012 Federal Education Budget

    The U.S. House of Representatives and U.S. Senate are considering proposals to cut student financial aid in the FY2012 federal education budget. Rep. Denny Rehberg (R-MT), chairman of the House Appropriations subcommittee with oversight over education spending, released draft legislation (H.R. 3070) on Friday, September 30, 2011, which includes several changes to student financial aid for college. The legislation was referred ...
    Published almost 3 years ago | Rated: +7
  • +4

    Financial Aid and Scholarships for Undocumented Students

    What advice would you give on financial aid to undocumented students? — T.T. Before discussing financial aid for undocumented students, it is best for students who believe that they are undocumented to first confirm with their parents that they are indeed undocumented. A student who was born in the United States or certain territories or outlying possessions is a US citizen ...
    Published almost 2 years ago | Rated: +4
  • +7

    Private Student Loans Add Fixed Rate Options

    Student loan pricing goes through cycles. When fixed interest rates are high but variable interest rates are heading downward, borrowers prefer variable interest rates. When variable interest rates are low but likely to head higher, borrowers prefer fixed-rate options. A little over a year ago only one commercial lender, SunTrust, offered a fixed-rate option on its loans. Today there are eight, ...
    Published over 2 years ago | Rated: +7
  • +4

    Answers to Common Questions about Dependency Status and Financial Aid

    Will my daughter's chances for receiving financial aid be higher if we don't claim her on our taxes? Household income is about $85,000 and she did not qualify for financial aid through the FAFSA. She is in a community college and is 20 years old. She recently moved out of our home but we are paying her college tuition. She has ...
    Published almost 3 years ago | Rated: +4
  • +6

    How is retirement income and past due child support reported on the FAFSA?

    I am trying to fill out my FAFSA. My father retired last year and I am confused as to what to put for his financial answers, for example, gross income, taxes, etc. Do I fill out a separate form because he is retired? Will they know that he is retired? I am so lost and getting frustrated. Please help! — Alexa ...
    Published over 4 years ago | Rated: +6
  • +6

    New Proposals for Hybrid Fixed/Variable Interest Rates on Federal Student Loans

    The President's budget for fiscal year 2014, which was released on April 10, 2013, includes a proposal for switching new federal student loans to a hybrid fixed/variable interest rate scheme starting July 1, 2013. A similar proposal was introduced the day before by several Republican Senators as the Comprehensive Student Loan Protection Act (S.682). Subsidized Stafford Loan Rate May Double Currently, ...
    Published over 1 year ago | Rated: +6
  • +40

    Are You Really Paying More for College?

    Are You Really Paying More for College?
    For years, the college cost inflation rate has been steadily rising by roughly 7% each year. The 2010-2011 academic year is no exception. According to College Board, who recently released their Trends in College Pricing and Trends in Student Aid, the average cost of tuition and fees at four-year public schools rose 7.9% while the average rate at private colleges and ...
    Published almost 4 years ago | Rated: +40
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