Archive October 2009 in our Blog
College is expensive. It’s no secret; especially if you are in your latter high school years or the parents of a soon-to-be college student. What people often forget is that the expenses of college start long before that acceptance letter is in hand. Applications, testing, and campus visits can add up before you even officially step foot on a campus as college student. The SAT-The often dreaded SATs costs $45. It is important to take a look at the testing schedule and deadlines for registration. Register late? That is going to cost you $23. Changing the location or date of… Read more here!
You’ve spent the past few years researching, visiting, and making decisions the will impact your future. In order to finance your future, you will more than likely be applying for financial aid. This means you will be filling out your FAFSA. But how will your choice school and your top choices know that you are working on financing college? Federal School Codes. Federal School Codes are numbers assigned to each school that is qualified to disburse federal student financial aid. These codes are unique and can be searched for while completing your FAFSA. You can also contact your school’s financial… Read more here!
Income Based Repayment (IBR) was enacted on July 1, 2009 as part of the College Cost Reduction Act. If you are a borrower experiencing financial hardship, have low income in comparison to your debt, or pursuing a career in public service IBR may benefit you. IBR is designed to make repaying the cost of your education easier for those pursuing careers with lower paying fields, such as public service. IBR caps the monthly payments based on the borrowers income and family size. Your monthly payments may change annually based on changes in family size or income. Single borrowers must have… Read more here!
Academic Year- a time period of at least 30 weeks of class time. During this time a student is expected to complete at least 24 semester or trimester hours or a minimum of 36 quarter hours. Borrower- Person who receives a loan. Consolidation- a loan program were a borrower can combine various educational loans into one loan. This is done by extending the repayment period and making a single monthly payment. This can be a time period up to 30 years and can make the repayment process easier for borrowers. Deferment- a time period in which a borrower may postpone… Read more here!
The cookie cutter formula that determines the amount of financial aid you receive does not take in to consideration extreme circumstances and situations. For example, if your income has changed since you filled out your FAFSA and you cannot afford your expected family contribution (EFC). Fortunately, a financial aid appeal may be able to help change your situation. During a financial aid appeal, you will attempt to demonstrate your circumstances. You will need to demonstrate your current income level and assets. This is necessary to show you cannot afford to pay for your freshman year. More than likely you will… Read more here!
Federal Work-Study provides part-time work for undergraduate and graduate students who have the need for financial aid. These programs allow students to earn money to help defray the costs of college. A majority of work study programs encourage work in a student’s major or provide a student with a community service opportunity. On campus jobs generally mean you will be working for your school. If you receive an off campus work study this means you will be employed by a nonprofit organization. Off campus work study must be related to your coursework. Now of course, you’d like to know about… Read more here!
If you are currently a college student/parent of a college student/recent college grad, you understand what I mean when I say there is a lot of paperwork to fill out and what seems like a never ending stack of papers you receive by mail from American Education Services and the banks that provide your loans. If you are just starting the financial aid process, you to will become all too familiar with the paperwork that is financial aid. If you want to save yourself time and think you may need a little help, a financial aid consultant may be the… Read more here!
So you are thinking about becoming a doctor! Medicine is a field that affects the lives of so many and you are ready to influence the health and well-being of others. However, medical school is undoubtedly a very costly program. The high costs of medical school do not have to stand in the way of you standing over an operating table with your scalpel or taking care of a newborn baby. With the appropriate knowledge and proper planning, you can be well on your way to wearing the white coat. The average debt for after medical school is more than… Read more here!
If you’ve dreamed of serving your country or are considering the possibility, that does not mean college is out of the question. Joining the ROTC, National Guard, or enlisting in active duty come with the added bonuses of the pride of serving one’s country and a means of financing your college education. Education can be the stepping stone to a successful career in or outside of the military. Aid may be available for active duty members in the US Armed Forces, reservists, members of the National Guard, veterans and spouses/family members of all of the above. Military members are also… Read more here!
Higher education is not just for teenagers and young adults. Today, nearly 40% of college students are 25 years of age or older. Continuing education may be the key to a promotion or a career change. However, financial aid may make or break one’s chances of starting or continuing their education. In the past, financial aid was more the less reserved for traditional students. However due to the increased enrollment of nontraditional students, financial aid is readily available for students of all types. Financial aid is available for students enrolled in eligible programs at accredited colleges and universities. Programs that… Read more here!
Categories: Financial Aid | Grants | Scholarships | Student Loans
Tags: federal supplemental educational opportunity grant nontraditional student pell grants perkins loans stafford federal family education loan