Welcome to the Go Financial Aid Blog!
We're discussing everything from financial aid applications to student loan consolidations. Feel free to contact us with any question. Enjoy!
You may be thinking: “I’m not 18, so I can’t even start building my credit” or “I’ll just worry about my credit when I’m ready to take out a loan for a car or a house.” There are many misconceptions with how credit scores work, and I advise everyone to get their credit started and straightened out while they are still young. What is a credit score and who checks it? A credit score is a numerical value given to an individual, which represents their likelihood of paying back debts. Lenders do credit checks to decide whether or not to… Read more here!
On Monday, April 29th the Department of Education announced adjustments to the 2014-2015 FAFSA, influencing the future financial aid eligibility for children of gay parents. To qualify for all major forms of financial aid, it is necessary that students submit the FAFSA (free application for federal student aid.) The FAFSA is intended to assess a family’s financial strength, and translate that into a monetary value that the family is capable of supplementing toward their child’s education. That value is also known as their EFC or expected family contribution, and is directly related to the amount of financial aid they will… Read more here!
Going to college is becoming increasingly unaffordable for many American families. According to a report by the National Center for Public Policy and Higher Education, college tuition and fees have stunningly increased nearly 570 percent over the past 30 years. An American family, on average, is expected to pay $9,000 a year for an in-state public college and more than $30,000 for a private college. Obviously, this is a huge difference for a lot of families, who are responding to the price jump by giving up the option of going to private colleges. There has been a substantial decrease in… Read more here!
For many of us, getting our hands on the financial aid letter from our choice school is a stepping stone, something to celebrate. After all, the funds listed on that piece of paper are what make college more affordable and therefore more possible. As a follow-up to our previous discussion on college acceptance and financial aid, let’s talk about a few more financial aid considerations that come into play upon moving on towards college life. Specifically, let’s talk more about that financial aid award letter and how to better understand and deal with it. Locate the free aid. On every… Read more here!
College acceptance letters are slowly starting to trickle in. Some of you may have already gotten a few. As March draws to a close, more and more of these acceptances will be coming in, causing a whirlwind of anxiety for many students. It's also a very exciting time. But college acceptance isn't all about the "Congratulations!" letters. Families also must be concerned with financing education. So, as those acceptance roll in, rememeber a few things: Compare costs. Sticker price of individual schools is just that--a sticker price. Many higher cost schools make up for the high tuition rate by offering… Read more here!
Each year, numerous regions are affected by Mother Nature's unpredictable ways. Tornadoes, massive storms and hurricanes all rain down on us (no pun intended). Such a situation is difficult to deal with, much less bounce back from, but somehow people manage to do it. Last year, Hurricane Sandy rocked the East Coast, causing devastation for many. The same way people have done before them, New Jersey residents and New Yorkers picked up the pieces and are beginning to recover. Reading this, you could be thinking, "Well yeah, that's horrible and it's all true, but what does it have to do… Read more here!
Most of you know by now that two key applications play crucial roles in financial aid: the CSS Profile and the FAFSA, each using their respective formulas to determine financial need. But did you know that there is a third formula? It's true; this formula is known as the Section 568 or Consensus formula. we don't hear very much about it because the Consensus is used by a very limited number of colleges and universities in the U.S. Let's talk about how the Consensus stacks up against the FAFSA and CSS Profile. Aspects of the Consensus that are Similar to … Read more here!
Traditionally, students attend college on campusand in a classroom setting. In recent years, however, online education has surged in popularity. This option provides access to college level work to adult students with busy lives, students wishing to save on college costs (i.e. housing) and just about anyone in between. So many of these schools are up and running and are indeed eligible to distribute financial aid to students. There is, however, yet another class of college-level learning: MOOCs. MOOCs, short for massive open online courses, are college-level classes which cater to up to thousands of students in one course. These… Read more here!
When students apply for financial aid, the final award is given by their college. Some of these funds are allocated by federal grant and loan programs for schools to give out, but universities must cover some things themselves. So, where do they get this extra money to hand out to students each year? Even still, what else do they use it for? There are a few things to talk about in this regard, so let's get to it. For one thing, did you know that your college has a fundraising or gift giving office? Many schools do, and the duty… Read more here!
With all of the hustle and bustle of both tax season and FAFSA filing, we tend to think that the FAFSA is the on and only financial aid form to concern ourselves with. That's not true for some, however. In addition to this staple of a financial aid document, other schools use unique financial aid applications as well as the CSS Profile. So, don't forget about the CSS Profile! A quick rundown, for those who might need the inside scoop on this document, goes something like this... The CSS Profile can, if you will, be thought of as the cousin… Read more here!