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  • +12

    To Cosign or Not To Cosign, That is the Question

    My nephew has asked me to cosign a private student loan for college. He's on his own since he lives independently from his mother, his parents are divorced, and his father is completely out of the picture. He's made it through 2 years of college with great success. I'd like to help him. I have very good credit. What would be ...
    Published almost 4 years ago | Rated: +12
  • +12

    Do Twins Get More Aid? If a Student Gets Married, Does the Financial Aid Change?

    My boyfriend and I are afraid that if we marry my annual gross income ($47,000) will prevent him from getting federal grants and loans for college. He has no income at all. He is disabled but was denied disability when he applied. We don't mind waiting if it would be better to wait. — Sarah K. Your fears are justified. When ...
    Published over 3 years ago | Rated: +12
  • +8

    Emergency Dental Care for an International Student; Reporting a New Spouse's Income and Assets on the FAFSA

    I am not a US citizen. I came to the United States a month ago to begin graduate school. Unfortunately I got a severe toothache a week ago. As a teaching assistant I have health insurance provided by my school, but it doesn't cover dental care. No matter how bad it gets, the toothache will not be considered an emergency. The ...
    Published over 3 years ago | Rated: +8
  • +13

    Secrets to Settling Defaulted Federal Student Loan Debts for Less than What You Owe

    Your federal student loans are in default and collection agencies are calling you dozens of times a day. They are threatening to garnish your wages, offset your income tax refunds and ruin your credit. They may even have crossed the line into harassment, calling you a worthless person and threatening you with physical harm. Are there any ways of getting out ...
    Published almost 4 years ago | Rated: +13
  • +5

    When should you apply for scholarships and financial aid?

    My son will be applying to colleges this fall since he is a high school senior. Should he wait until he is accepted into a college before applying for scholarships? — Bryan R. Your son should start searching for scholarships as soon as possible. There are scholarships with deadlines in every month of the year (more in the fall and spring ...
    Published over 4 years ago | Rated: +5
  • +20

    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
  • +7

    Ask the Expert: Why Not Borrow from My 401(k) for My Daughter's College Tuition?

    QUESTION: Why not borrow from my 401(k) for my daughter's college tuition, as there will be less to lose in this economic crisis? -- Betsy Thomas ANSWER: Borrowing from your 401(k) is almost always a big mistake. It may seem innocuous, since instead of paying back a bank loan, you're paying yourself. But you've lost the opportunity to earn further returns ...
    Published almost 5 years ago | Rated: +7
  • -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 over 4 years ago | Rated: -1
  • +9

    Answers to Common FAFSA Questions about PINs and Household Size

    My sister is in college and she applied for financial aid so my dad already has a pin. Should I create a new pin or use the same one? — Perla C. A PIN is used to sign the Free Application for Federal Student Aid (FAFSA) electronically. Each person signing the form must have their own PIN. Your father can use ...
    Published about 4 years ago | Rated: +9
  • +8

    Choosing an Education Loan

    Choosing an Education Loan
    Most families evaluate education loans based mainly on cash flow considerations: How much money can you get to pay for college costs and/or living expenses? How much are the monthly payments? When do the payments start and when do they end? What is the total cost of the loan (total payments over the life of the loan)? Who is responsible for ...
    Published almost 5 years ago | Rated: +8
  • +13

    Options for a Family Denied Education Loans Due to Insufficient Income

    My daughter received some financial aid for her freshman year of college but we still had to take out a sizable loan for the rest. She applied for a loan her sophomore year and was denied because we have "insufficient income" to repay the debt. My husband is self-employed as a landscaper and it was a bad year. She was attending ...
    Published over 3 years ago | Rated: +13
  • +250

    Would Forgiving Student Loans Stimulate the Economy?

    Would Forgiving Student Loans Stimulate the Economy?
    Several grass-roots groups were established on Facebook in early 2009 calling for the cancellation of all student loan debt under the theory that this will stimulate the economy. Most noteworthy is the group Cancel Student Loan Debt to Stimulate the Economy (see also www.forgivestudentloandebt.com) founded by Robert Applebaum, a New York attorney. This group has grown to have more than 220,000 ...
    Published over 4 years ago | Rated: +250
  • +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 4 years ago | Rated: +8
  • +4

    Treatment of Grandparent Assets Held by a Parent on the FAFSA

    I am completing the FAFSA for my son and daughter. My Mom is elderly and has put my name as secondary on her accounts. Do I have to report the money in those accounts as my assets on the FAFSA? It doesn't seem fair if I do, because the money is not mine to use. — Chris S. Grandparents sometimes transfer ...
    Published about 4 years ago | Rated: +4
  • +10

    Questions about Obtaining and Repaying Student Loans

    How will my credit score effect my ability to get the funding I need for graduate school? If my credit is not great, will I be able to get the loans I need to cover my college costs? — Katy C. The federal Stafford loan does not depend on your credit history. As a graduate student you will be able to ...
    Published over 4 years ago | Rated: +10
  • +5

    Questions about the Health Care and Education Reconciliation Act of 2010

    If you have already graduated from college, will you be affected by the new changes to student loans in the health care bill? — Lauren A. No. None of the changes enacted by the Health Care and Education Reconciliation Act of 2010 will affect students who have already graduated. Starting July 1, 2010, all new federal education loans will be made ...
    Published about 4 years ago | Rated: +5
  • +9

    Questions about Assets and the Free Application for Federal Student Aid (FAFSA)

    There are many college financial planners in my area who claim to be able to help us "legally and ethically" reposition our assets to lower our expected family contribution (EFC) and save us thousands of dollars per year in college costs. Are there really such secrets out there that will help us that much? — Larry C. Less than 4% of ...
    Published over 4 years ago | Rated: +9
  • +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
  • +3

    How can a student on academic probation pay for college with no aid?

    My son has brain damage along with seizures and a reading learning disability. With all the doctors appointments, hospital stays and seizures he is on academic probation this semester. So that means, well you know what that means, he will not be allowed to apply for FAFSA this semester. My question to you all is how can I afford to pay ...
    Published about 4 years ago | Rated: +3
  • +10

    Clearing Up Confusion. What are Parents Responsible for on FAFSA?

    There seems to be a lot of confusion about which parent is responsible for completing the Free Application for Federal Student Aid (FAFSA), so I'm answering a few more questions on this topic. The references to "father's/stepfather's" on the FAFSA can be confusing for children of divorced parents. I'm 17 yrs old and I live with my mother and my stepfather. ...
    Published about 4 years ago | Rated: +10