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Category Archives for Affording College

3 Costly Myths about Planning for College

Don’t Assume College will work out

College is expensive. Most families just don’t realize how expensive it can become. Making college affordable for each of your children begins with avoiding misconceptions. Part of the problem is that many parents believe the following three college preparation myths.

Myth 1: Planning for college “next year” is soon enough

“My child is only in 7th grade; we can start thinking about college preparation in a couple of years.” The first myth is the belief that the college decision will work out just as well when we start “next year” as opposed to starting today.

Time is a very valuable asset in the college preparation process. Many of the individual processes required for a quality college decision – such as career selection – take both and time guidance to maturate. Continue reading

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 Money for College Students

Free Money for College comes at a Price

College-bound students and their families are confronted with the high cost of a post high-school education. Many want to find the so-called “free money”.  In this article, I want to briefly point out the “cost” to obtaining free money for college students.

The Cost of Grant Funding

Grants are a common type of free money for college students. To be considered for grants, either at the Federal or the Institutional level, a household must demonstrate financial need. This de facto means 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