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Category Archives for Affording College

Paying for College: Upcoming Interest Rates

Tuition Bills are coming soon!

Many households are beginning to think about paying that first college tuition bill. They are beginning to see what resources are going to be available to make the payment. Many will be considering using federal student loans to fund at least part of their college expenses.

Interest Rates on Upcoming Federal Student Loans

Here are the interest rates for federal student loans, taken after July 1st, 2017.Continue reading

Free Grants for College

The Search for “Free Money”

The high cost of a post-high school education forces many families to search for “gift aid”. Gift aid is money available to college students that does not need to be paid back. Gift aid is also money that does not come from one’s household – such as a parent or grandparent. Grants are one type of this so-called “gift aid”.

Types of College Grants

There are two basic types of grants to help fund college expenses. The first, and by far the most common, are Federal grants. Each year the Federal Government though the Department of Education sets aside a certain amount of moneyContinue reading

How do People Pay for College?

A Big-Ticket Item

The cost of a post-high school education is frightening for many families. The cost-of-attendance per year / per child will run somewhere between $10,000 at a community college and $75,000 at a private or out-of-state college. The total cost of a college education can quickly add up to between $20,000 and $250,000 per child. This leads many families to ask: how do people pay for college?Continue reading

Free Money for College

Money for College

Many families are enticed by the notion of “free money for college”. Receiving free money sounds great. Yet most families with college-bound students do not understand how this works. Their expectations are often way out-of-line. Many households believe they will not get any free money and yet others are convinced their children will receive all the free money for college that they will need. Before one gets too excited, let’s clarify the basics.

What is “Free Money for College”?

In the United States, the cost-of-attendance for a post-secondary education will generally run between $10,000 and $70,000  per year / per student. The costs for a four-year Continue reading