This article was originally published on March 16, 2013. It was updated on June 20, 2019. One of the biggest problems in planning to pay for college is that most parents simply don’t understand the rules of the game. And it’s not as if the colleges are doing a great job of teaching us the…
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Loans, Loans, Loans, and More Loans There has been much talk lately in the media about the staggering amount of outstanding student loan debt. The statistics are alarming: At the end of 2018, almost 45 million Americans had outstanding student loans totaling $1.57 trillion. Student loan debt is second only to mortgage obligations, passing credit…
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A Possible Strategy to Help Minimize the Cost of College When I was in my first semester of college in the late ‘90s, the first book I read was the course guide book (and yes, it was a physical book then). I used it to figure out which classes would help me graduate quickly with…
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After giving almost a hundred college funding workshops on the East Coast in the past three years, one of the most common questions I receive is this: “In layman terms, can you explain all this EFC stuff?” It’s a simple question that should have a simple answer. Per the FAFSA website, the EFC (Expected Family…
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Common Perceptions Why do so many college applicants only apply to public universities? They believe that private schools will cost more money, and they won’t be able to afford it. At least this is what we are repeatedly hearing from families that we work with on their financial planning. There is a long-standing perception that…
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Let’s face it, marriages don’t always go as planned. Divorce can not only disrupt our personal relationships, it can also have lasting financial effects. Financial aid for college can be one of those areas where these repercussions are felt. Understanding financial aid eligibility is difficult enough when it only pertains to one family’s financial situation,…
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What is a prepaid tuition plan? According to Investopedia, “prepaid tuition plans allow investors to purchase tuition for a student at current rates, even if he or she will not attend college for several years. Timing and age [are] a crucial factor with prepaid tuition plans, as most require plan participation for at least three…
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As a College Funding Coach and a Financial Advisor, my conversations with families are often focused on how they can provide the best education and opportunity for their children without compromising their families’ financial future or taking on significant debt. With college expenses rising at an alarming rate, families are struggling to pay for college…
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As parents, we wear ourselves out making sure our children are ready for college. We monitor their grades, make sure they prepare for their SAT/ACT tests, coach them to volunteer in the community, and encourage them to participate in some extracurricular activities at school. Now we also need to make sure that they can get…
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The Useful Difference and the Unpleasant Truth I give college funding workshops for parents in many different locations. No matter where I am presenting, there is always one common denominator. When I start discussing the FAFSA and CSS Profile I am met with a multitude of very audible sighs. During one workshop in South Carolina,…
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