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  • +6

    Will Financial Aid Cover a Double Major?

    Will Financial Aid Cover a Double Major?
    Please help me out with a question. I am majoring in finance. I am thinking about pursuing a double-major in finance and real estate. I will have to take only 6 more classes than what I am supposed to take for my finance major. Will my financial aid cover the extra classes? — Jeffrey P. As noted in a previous Ask ...
    Published 2 months 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 about 2 years ago | Rated: +6
  • -1

    Is tuition refund insurance worthwhile?

    College is a big investment, as expensive as buying an automobile or a house. You insure your car and your home, why not insure your child's college education? Tuition refund insurance provides a full or partial refund of college costs -- including tuition, fees, room and board -- in the event your child is forced to withdraw midway through the school ...
    Published almost 6 years ago | Rated: -1
  • +19

    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 4 years ago | Rated: +19
  • +2

    If a Student's Parents Are Not Married, How Does the Student Complete the FAFSA?

    I live with my mother and my step-father but they are not married. They keep their finances separate and, other than helping my mom to pay for the house I live in, he does not help me out financially. Do I still have to include him on my FAFSA? — Emily L. The first step in addressing non-traditional family structures is ...
    Published over 3 years ago | Rated: +2
  • +8

    FAFSA Questions Concerning Assets and Legal Guardianships

    I am an incoming freshman in college and my single mom is worried about the Free Application for Federal Student Aid (FAFSA). We recently sold our house and are currently living in a rented apartment. The money from selling the house is in her savings account. We are currently looking for a new house. My mom is worried that if we ...
    Published over 5 years ago | Rated: +8
  • +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 about 6 years ago | Rated: +5
  • +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 almost 3 years ago | Rated: +7
  • +20

    Over $2.9 Billion in Free College Money Unclaimed by Students – Why?

    Over $2.9 Billion in Free College Money Unclaimed by Students – Why?
    According to a recent study* by NerdScholar, the higher education team at NerdWallet, high school graduates in the U.S. left more than $2.9 billion in free federal grant money unused over the last academic year. Sounds crazy, right? Crazy but true. How is that even possible? Well, according to the study, their only mistake was not completing the FAFSA. If you’ve ...
    Published 4 months ago | Rated: +20
  • +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 over 2 years ago | Rated: +2
  • +5

    Does a Parent's Credit History Affect the Student's Eligibility for Loans and Other Aid?

    My parents have a Federal Direct PLUS Loan they got while I was an undergraduate student several years ago. Due to their current financial hardship, they haven't been keeping up with the payments. I also had some college loans which I am paying regularly without problems. I would like to know if my parents' financial situation will impact my credit, since ...
    Published almost 4 years ago | Rated: +5
  • +11

    Death and Disability May Now Get You Out of Paying Loans

    Death and Disability May Now Get You Out of Paying Loans
    According to a press release from Securian Financial Group, Sallie Mae is adding a total and permanent disability discharge on its Smart Option private student loan. This discharge will forgive the loan if the primary borrower becomes totally and permanently disabled. In addition, Sallie Mae will cancel the Smart Option private student loan if the primary borrower dies. Securian Financial Group ...
    Published about 5 years ago | Rated: +11
  • +3

    What are the Downsides to Using Home Equity to Refinance Student Loan Debt?

    I have almost $200K in student loan debt at interest rates from 6.5% to 8.5%. My parents are offering to take on $70K of my debt that's at 8.5% by way of a mortgage they have access to at 3.5%, provided that I am able to pay it off in 3 years. Given my current job situation, I can handle the ...
    Published over 2 years ago | Rated: +3
  • +8

    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 over 3 years ago | Rated: +8
  • +22

    Survey Says: Parents Still Saving for College Despite Economy

    Sallie Mae and Gallup just released the results of a survey of how American families save for college. The survey found that most parents are continuing to save for college despite the economy and that saving for college slightly trails saving for retirement. More than 9 in 10 of the parents (92%) think that it is likely or very likely that ...
    Published almost 6 years ago | Rated: +22
  • +18

    Debt Worriers

    Debt Worriers
    At this point, it’s old news that student loan rates have doubled. It’s also nothing new to hear that student debt is higher than ever, surpassing $1 trillion. Student loan debt inflicts one out of five Americans over the age of 20; two out of three college seniors (2011). The average amount is nearly $27,000 – not a small amount by ...
    Published almost 2 years ago | Rated: +18
  • +9

    Reporting Prepaid Tuition Plans and 529 Plans on the FAFSA for Independent Students

    I'm confused as to how to treat a prepaid tuition plan when applying for financial aid. I'm an independent student but I have a small prepaid tuition account which is held by a parent as account owner with me as the beneficiary. Since I don't list parent assets when filling out the FAFSA, do I need to list the prepaid tuition ...
    Published almost 5 years ago | Rated: +9
  • +4

    Are UGMA and UTMA Accounts Reported as Investments on the FAFSA?

    Tuesday, May 29 is National College Savings Day (i.e., May 29 is 5/29, a cute reference to 529 college savings plans). To commemorate the occasion, Mark Kantrowitz answers a question about saving for college. After submitting our FAFSA for my son, we got back an EFC of 23207 on the SAR. I have been told by admissions that that is extremely ...
    Published almost 3 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 over 4 years ago | Rated: +4
  • +17

    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 over 6 years ago | Rated: +17
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