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Let's SIMPLIFY how you go about getting financial aid! Read these helpful articles:



What is Financial Aid?

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Did you know the cost of a four-year college education is probably the second largest expense you will ever have in your lifetime next to purchasing a house? It could cost you over $40,000 a year to attend a private liberal arts college. Multiply that figure times four, and that's over $160,000 to pay for a four-year college education!

 

10 Ways to Find Scholarships for College

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10 Ways to Find Scholarships for College

 

The process of getting accepted into a college can be a challenge in its own right. You clearly have to attain the best possible grades, which is almost impossible without studying effectively, doing your homework to participate in classroom and perhaps, even getting a tutor. You also have to bear with the complicated application process while also dealing with competition from thousands of other students.

The process of trying to find money for college is tough. Scholarships can certainly help provide you with money for college. But to actually get that money, you need to look carefully. There are several ways how you can find such scholarships.

 

Financial Aid: Step-by-Step

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Congratulations! You have found colleges and/or universities that you would love to attend if admitted. But now the problem you are facing is finding the money to pay for the cost of your education. Are you feeling a bit discouraged and overwhelmed by the financial aid process? Don’t throw your hands up in despair! Perhaps breaking the process of finding financial aid down into consecutive steps might make it more manageable and less frightening. Let’s try that.

 

How Much Financial Aid Can You Get?

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To start the process of obtaining financial aid, you have to start with the Free Application for Federal Student Aid (FAFSA). The earliest you can submit your application is on or after January 1, and then it takes three to four weeks to find out what aid you will get. That doesn't give you all the time in the world to plan, and it certainly doesn't help you choose colleges to apply to. Who wants to waste application fees on a college that's out of the question financially? Well, the federal government has a new site that can estimate your eligibility for financial aid ealry!

 

How Is the Family Contribution Figured for the FAFSA?

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The expected family contribution (E.F.C.) is based mostly on the family income.  A family making about $60,000 will likely have to contribute about $4,000.  As well as yearly income, the discretionary income is assessed while providing for some shelterss, things such as minimal living costs and federal and state tax expenses, but consumer debt is not considered.  The final result is available income, which is assessed at somewhere between 22% and 47%.  This figure is at last divided by the number of children attending college.

And, what about a family's assets; do they also figure into E.F.C.?  Yes, but less so.  Some assets are entirely protected: retirement plans, the net worth of the family house, small businesses owned and operated by the family, and up to $50,000 dollars of other assets.  What is left for assets are then assessed additionally at up to 5.64%

 

What Financial Aid Officers Don't Tell You

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You have selected the colleges; now you have to pay for them. But how? In the same way you had to use strategy in the application process, you need to use strategy to get the best financial aid package.

 

9 Financial Aid Questions to Ask Before Choosing a College

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Most students look at a variety of factors in choosing a college to which they will apply. Do they cater to my major? I’m interested in distance education; do they offer online programs? These are just a few factors that come into play. Yet most students, and their families, ignore one of the most important factors; how each college evaluates who receives financial aid.

Here we present 9 questions that students should ask before choosing a college. If these questions are asked there should be fewer surprises when financial aid awards come out with the award letters.

 

Top 10 Ways to Reduce the Cost of Financial Aid

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You've run the programs that estimate your FAFSA and Profile contributions and you know you aren't going to qualify for financial aid at any college. Even though these forms say you can afford almost $200,000 for 4 years of a private college, you just don't want to pay that much. So what are the options for your child to attend college but keep the cost down?

Here are 10 options to attend college but pay less than $200,000. Like many things in the search for the right college, all the options may not be appropriate for each student, but if you keep an open mind, you should be able to use these tips to save some money.

 

Where Should I Get a Loan to Pay for College?

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Maybe you didn't get a grant or monies from a merit scholarship from the college you are attending. These are worth their weight in gold because these monies do not have to be paid back. Some of you may have gotten loans offered by your college in your financial aid package. These are also good because they do not have to be paid back until you have finished college, and their interest rates are very low, usually under 3%. Most of you, despite your financial aid, will still have to pay money to cover your college costs, money neither you nor your parents have. That's when you and your parents will have to shop for private loans.

 

All About Loans for College

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More than $100 billion in federal education loans and $10 billion in private student loans are originated each year.1 It is big business and the world of student loans can be a daunting and confusing place, especially for young adults who may not have any prior experience with lenders or debt. With the cost of secondary education on the rise each year, it behooves students and parents to make informed decisions about financing education. Here’s an overview of the common types of loans college students are likely to encounter.

Stafford Loans

 

Another College Loan Option

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Money is tight. While college costs are rising, monies from both government and from private financial institutions have dried up. Also, college savings accounts such as 529s and individual investment portfolios may not be worth enough now to cover the full cost of college.

 

Choosing the Right Student Loan

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Congratulations! Your son or daughter has been accepted to the college of his or her choice! But now you have to figure out a way to pay for it. While federal college loans feature fixed interest rates, those rates have steadily increased over the past few years so it's important to consider all your finance options and choose the one that will be the most cost effective over time, for both you, and your child.

 

What Should You Do as College Loans Start to Dry UP!

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The student loan crisis has hit like outrageous gas prices at the pump. In this article CollegeBasics explores this problem and suggests what parents and students should do if they need help getting through the confusing education loan process and in making the best possible choice for them.

 

Paying for a More Expensive Private School

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The average cost for a four-year private college is over $40,000!

Does that mean you can't afford college unless you go to an in-state public school? Not exactly. There are ways to make it financially possible to attend a more expensive school.

 

Tips to help with College Expenses

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If the thought of being bogged down by debt before you've even secured a well-paying job is getting you down, here are a few viable alternatives to help you scrounge up enough money to get you through college.

 

Alternative Living Can Help With College Costs

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Room and board costs, along with tuition, are inching upwards. For school year 2007-2008 the average room and board cost for four-year public school was over $7,000, and for private schools that cost was $8,600. Already costs are up over 5% from last year.

There is an alternative, buying a condo or a house for your college student.

 

Small Scholarships Have BIG Yield

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There are many scholarships out there. It may just be hard to find them because they often target very specific audiences. Some scholarships are dedicated to

 

Financial Aid Help May be on the Way

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Are you dreaming of college acceptance letters? Are you also having nightmares about how you will pay for college and the amount of debt you will accumulate over four years?

 


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