To Save or Not to Save, That is the Question
October 26th, 2015Will saving for college affect a family’s ability to receive financial aid for their child’s college education?
According to Ron Lieber, a writer for the New York Times, the greater benefit comes with saving. Consciously diverting money away from college savings plans out of fear it will limit your ability to collect financial aid is not a sound investment strategy. In this article, Lieber breaks down the process for applying and receiving financial assistance and explains how the government looks at household income/savings in relation to aid distribution.
Article Published October 23, 2015
Written by: Ron Lieber
You should save money for college expenses if you possibly can. And if you’re worried about how that savings might hurt your child’s financial aid eligibility, then you’re thinking about it wrong.
That ought to go without saying, but there is a persistent and mostly mistaken belief that goes something like this: If we save, the colleges will just take it. And if we don’t, we will qualify for more help.
Read more at NY Times >>Tagged: College, Debt, Financial aid
The business of higher education
May 26th, 2011by Jane S. Shropshire
Lexington, KY – Ads for proprietary colleges like University of Phoenix, National College, Strayer University and others surround us on billboards and websites, in newspapers and magazines. The advertising is successful: In Kentucky alone, proprietary institutions enroll roughly 19,000. Some of these institutions do a fine job of educating those who enroll, and they follow appropriate guidelines where recruitment and financing are concerned. Unfortunately, some do just the opposite: They pressure students to enroll and take on massive debt, and some students find that their course credits can’t be transferred.
Read more at Bizlex.com >>Tagged: College, Debt, Online degree program
Put aside rose-colored glasses and remember: loans must be repaid!
May 9th, 2011Jane Shropshire | Founder – Shropshire Educational Consulting LLC
Congratulations – if you’re reviewing financial aid awards you’ve been admitted to college and hopefully one that excites you. But now it’s time to look through clear lenses at what the awards actually tell you. Look at each college’s billed costs including all fees, then subtract the total amount of grants, scholarships and federal work-study offered. The net figure remaining is what you and your parents will have to cover through family contributions and loans. A word of advice: be conservative in taking out loans, despite colleges offering PLUS (parent) loans by the cartload. Make sure that you and your family will be able to pay off debt incurred without mortgaging your collective future. And if you’ve received more generous offers from other colleges, it can’t hurt to ask a financial aid office politely whether your award can be reviewed and adjusted.
——————————————————————————–
Read more at Unigo.com >>Tagged: College, Debt, Financial aid, Scholarship
