May 24, 2006
Okay so the rumors are true, '06-'07 tuition has been announced and the news isn't great. Tuition for both public and private universities have gone up anywhere from 3-8 percent and that's just the start. Universities are citing a plethora of reasons which can include anything from facility updates to an increase in gas prices. Does anyone else have a problem with this? An increase in gas prices is causing tuition to rise! I get that utilities will increase but does that really relay into an additional $300 bucks per student?

If you are a prospective student or parent of a prospective student now is the time to really cozy up with the financial aid process. Study this website, and ask a question or post a comment. The more free information we can share, the more people may get to go to college. Who's with me?

Student Aid Update >>>

May 23,

Before you gamble the ranch on your child's college education, do a little research to make sure it's worth it. There are several reasons that a Home-Equity Loan may not be a good idea. In a recent article on Bloomberg.Com, these types of loans can get you into trouble. Home-Equity Loans can make an impact on your financial situation in a big way such as: on your tax return. A Home-Equity loan interest is not tax deductible unlike other loans used for higher education. If your real estate market is on the downward spiral it might be a good idea to cash in on an interest only loan. By refinancing in this way you can save on monthly payments and apply that extra money to the extra expenses associated with your child's college education such as books, fees, room & board etc.

For more detailed information, read the article by author John Wasik on Bloomberg.com.

May 14, 2006

The low interest rate on Stafford and other federal loans is about to change. Due to the Budget Reconciliation Act of 2005 the interest on federal loans will rise 2.0 percentage points in July. That means that if you have not done so already it is in your best interest to consolidate your loans now! Financial Aid advisors say that it is best to consolidate your loans now as paperwork could take up to a month to process.

May 14, 2006
The First Rule of Financial Aid is to apply! It should be rule number two and three as well, it's that important. Why is it so important? Because you will never know how much money you can receive until you apply, if you don't apply you are guaranteed nothing. This may seem quite obvious but a recent article in the WTOP (Capital News) has shown that lower income earning families are not applying for federal aid.

The FAFSA can be a pain to fill out but think of how much more of a pain trying to juggle all your debt will be down the road. Federal aid comprises the bulk of financial aid so filling out the FAFSA is a good idea. The form is now online and the FAFSA website can be read in both Spanish and English. In addition there is information that will help you to fill the thing out.

The WTOP article brought up another good point: don't wait until the deadline has passed. This may seem like common sense but there are a lot of people that wait until the deadline has passed and then apply. When their bill comes around they are surprised at the amount but since the deadline passed they really never applied, pay attention to those due dates!

Don't let the sticker price scare you off and if your reading this article your on the right path to find money for school. But make sure you apply for aid at every kind of school, whether it be private, public, community or trade get your application for aid in and try to do it as early in the game as you can.

Student Financial Aid >>>

May 4, 2006

Throughout most of the application process the potential student is courting the college but as a recent article in the New York Times points out, when decision making time approaches the roles are reversed.

Some schools will lay on the charm extra thick to entice students to choose their acceptance. Personal e-mails, letters, phone calls from Professors, small receptions are all just a few examples of how the college will court their acceptees. According to some college admission staff high quality students have more options to choose from because they are applying to more schools, therefore to them it is increasingly important to lay it on thick.

I don't know about you but I missed the boat when it came to personal invites to sail on the dean of admissions yacht before I made my decision on where I ended up. But if it had happened I'm pretty sure I would have based my decision on which school was going to cost the least.