By: Lisa Dalton, California parent of a senior at the University of Oregon, and sophomore at Washington State University _________________________ With two kids in college, both at out of state universities, friends and neighbors ask all the time, “How do you do it?” The answer is planning, financial education, and sometimes hard choices.
Tag: Financial aid
Student Debt = Future Income Spent Today
Know the terms (i.e. repayment, interest rates) and possible consequences of taking student loans for college–essentially bringing future income into the present. (FYI: colleges are not obligated to disclose the terms of the loan BEFORE accepting them as part of a student aid package. Students MUST ASK. Also, students are not forced to accept student…
Working With Financial Aid
Financial aid from the university doesn’t work like mom & dad’s checkbook. Although mom & dad may share their concerns, generally they’ll continue sending money when kids ask or need. However, financial aid offices may not be so lenient.
“Why Do You Want to Go To College?” Has New Meaning
“How do employers look at college names?” is a typical question parents ask us, when trying to narrow their senior’s choices for application. Two meanings emerge from this question: What’s the value of a college degree? How, if at all, is value different for different colleges? The value in college question will be answered differently…
Changes to Subsidized Direct Student Loans for Fall 2012
For Fall 2012 and future Fall 2013 Subsidized Direct Loan Borrowers: The Federal Government will no longer withhold interest during the six-month grace period before loans go into repayment. According to Federal Student Aid, “the interest will be capitalized (added to the principal amount of your loan) when the grace period ends.” Borrowers do not need…
“We’re Not Going to Get Any Financial Aid”
Financial aid from a university (you know the kind every family wants) is separated into two forms: need based aid and merit aid. Need based aid is the one that families–typically professional, middle/upper class families, comfortable, yet not abundant in extra cash–worry about being qualified to receive.
Guilt? I Didn’t See that On My College Bill
Without understanding the value of a college degree, students can sense, what they often term, “guilt.” They may not confidently understand why their families, and increasingly themselves (in the form of student loans), are paying the thousands of dollars (and rising each year) that a college degree costs. Listen to the following podcast, featuring Julie…
CA College Tuition = UP; College Value = ?
California ranks among the top five states in the nation for the greatest tuition increases in their public universities. (Wall Street Journal, 8/14/2012) Not only do current UC students face a possible additional 20% increase mid-school year, if the November tax increase does not pass, the budget reductions can mean more cuts to courses…
Guest Post: Study Abroad from a Parent’s Perspective
By: Lisa Dalton, parent of a senior at the University of Oregon, and sophomore at Washington State University CMC Note: There are alternatives to “studying” abroad, including service projects that many universities arrange, as well. _______________________ If you are in the midst of college tours with your high school senior, or you have a student…
College Tuition: Is a Private University Always More Expensive than Public?
According to the Wall Street Journal and the College Board, public university tuition is rising faster than private universities around the nation. “In-state residents at four-year public schools, tuition and fees are up 25.1% from the 2008-09 academic year; over the same time period, tuition and fees at private universities rose 13.2%.” While public universities…
How Are Middle & Upper Income Families Affording College?
For families with $94,000 to $205,000 in yearly income, the percentage of debt is increasing. The Wall Street Journal reports, 25.6% of these middle-upper income families incurred student-loan debt in 2010, up from 19.5% in 2007. With the costs of college increasing and use of debt is increasing, will families begin making college decisions with…
Thinking Outside the Box to Pay for College
What are you willing to risk to pay for college? Would you seriously consider these alternative methods of paying for college? If it sounds too good to be true, definitely take a second (or a third) look. From the Wall Street Journal, 7/31/2012
Who’s Responsible for College Bills?
Why do parents expect to pay the entire bill for college? Often, parents tell us that they want their kids to apply for scholarships and are frustrated, if that doesn’t happen. Yet, they’ll move forward with paying for college. Is it a parents’ responsibility to ensure the bills are paid for college, without at least…
Before Choosing Transfer Admissions…
The Community College Transfer option to a 4 Year College, while seeming to save money in the short term, can include other costs. Currently, community colleges in California are challenged to service their students, given the budget reductions from the state. At the same time demand is rising for space in California community colleges–300,000 students…
UC Tuition and Fees: Up, Up and Away
Anyone involved in the University of California over the past thirty years knows one thing for sure: The tuition and fees for the UC has gone in one direction–UP.