March 31, 2008 For families struggling to finance their children’s educational expenses, supplemental borrowing can be an important resource. Supplemental borrowing is particularly useful to those families that do not qualify for need-based financial aid or those families that qualify but whose financing needs are greater than their aid package. One of the most reliable sources of supplemental borrowing is the Federal Direct PLUS Loan. The PLUS, which stands for Parent Loan for Undergraduate Students, is a federally-backed loan for parents paying for their dependent child’s undergraduate education. PLUS Advantages The advantages offered by the Federal Direct PLUS Loan include: • Federal backing, ensuring stability • Non-need based, only based on credit rating • ...

At senior high schools around the country, the financial aid night has become a common fall event. With financial aid becoming more complex, many high school counseling offices are wisely choosing to invite the experts in to discuss the details of applying for and accepting financial aid. One thing to remember is that if your high school does not offer such an event, you can most likely invite yourself to another local high school’s financial aid night. The information should be as relevant to you as if it were given to you by your own high school. A good financial aid presentation should go over the basic application process including the FAFSA on the web application. This is the critical piece of information but not the only information you need. Other topics that may be covere...

The EFC, or Expected Family Contribution, is the cornerstone of the financial aid awarding process. For federal aid eligibility, your EFC will be determined from your FAFSA application. If you are not aware of the questions that affect your EFC, you may inadvertently make an error on your FAFSA that could have a serious impact on you child’s award package. Briefly, both the parent’s and student’s income and assets impact the EFC. Careful attention to these questions is vital. Two other questions that have a major affect on the EFC are the family size and number in college questions. A family with two children in college will have half the parent contribution of the same family with one child in college. The EFC calculation, which is the result of Congressional action,...

When it comes to student financial aid it helps to know every avenue that leads to gaining money for your college education. Below we have comprised some helpful tips that may assist you secure the financial aid you need. Target the High Dollar Private Colleges Applying for financial aid at a pricey college or university may not seem realistic BUT the expensive private colleges often grant more financial aid. These schools have to offer a good deal of financial aid to gain diversification among their students. Therefore the EFC (Expected Family Contribution) for these schools may end up being less than what it might be at a large public university. Not only could you end up gaining more financial aid but you could also end up receiving a top- notch education. There is a lot to gain...