The process to apply for college financial aid requires families to complete several forms. Below is a list of the forms needed to complete the financial aid application process: 2011 Tax Returns? Check. FAFSA (aka Free Application for Federal Student Aid)? Check. CSS/PROFILE? Wait a minute…What’s that? 2012 Tax Returns, done? Excuse me, why do…
Tag: Financial aid
No Free Lunch: A Student Loan Borrower’s Tale
My student loans were just paid-off this year–13 years after I first assumed them**. I originally borrowed $18,500 to pay for graduate school, plus a $740 loan origination fee. I ended up repaying about $29,500, which includes interest and principal–approximately $10,260 was paid in interest alone. I’m not particularly attentive to my expenses or money…
The Six Figure Cost of College: In Dollars & Sense
The words, “financial aid,” can send chills down any parent’s spine, as they wonder, “How in the (insert expletive) are they going to pay for college, without going bankrupt?” Many American families approach college, like other purchases in their lives–dream big and figure out how to pay later. Parents often believe, “If my kid…
Guest Post: The Savings for College Challenge, Part Three – How Much to Save in a 529
About the authors: For over 25 years, Cynthia S. Meyers, CFP®, MBA, has assisted people with their Lifetime Financial Planning–helping to build and preserve wealth in every area of life. Jenny Hood, CFP® has been a paraplanner with Cynthia S. Meyers for five years and enjoys being a part of the financial planning process. _____________…
Transfer Admissions from a California Community College: Bargain or Cost?
Several changes to California Community College policies in the current 2012-13 school year may affect the typical transfer student who chooses community college, by extending the total number of semesters before transfer to a 4 year university. The typical transfer student is usually qualified for 4 year college admissions, yet “doesn’t know what s/he wants…
Financial Aid Reality Check (That Won’t Cost Your Checkbook)
We’re hearing from parents of seniors, who’re looking through their check registers and not seeing $30,000 to $60,000 available for next year’s college expenses, nor in their savings or investments. Actually, we’re hearing from parents of juniors, parents of sophomores, parents of freshmen and parents of pre-schoolers about the continued rise in costs and…
College Selection and Financial Aid in the Era of Rising College Tuition: Part One
This is the first in a series of Podcasts dedicated to the complex topic of financial aid as it relates to college selection, with its focus on seeking the greatest return on one’s investment in a college education during an era of rising college costs. We hope you enjoy our thoughts and as always, feel…
Guest Post: The Savings for College Challenge: Part Two – Choosing a 529 Plan
About the authors: For over 25 years, Cynthia S. Meyers, CFP®, MBA, has assisted people with their Lifetime Financial Planning–helping to build and preserve wealth in every area of life. Jenny Hood, CFP® has been a paraplanner with Cynthia S. Meyers for five years and enjoys being a part of the financial planning process. They offer…
Community College Transfers Increasingly Enroll at Multiple Campuses
Last fall, about 69,665 students attended two schools, nearly 5,000 went to three schools and about 400 to four or five schools, according to data from the California Community Colleges chancellor’s office. (The numbers include students who take online classes; officials are unsure how many are in that category.) Los Angeles Times, October 16, 2012…
Gaining Scholarships & Paying for College is a Process
The recent October Comstock’s Magazine–a business publication in our Sacramento region–featured Art’s & Jill’s advice to plan for rising college expenses and answer the all-important how to apply for scholarships question. Click here to read more. Financing a college education is a series of choices–sometimes over years. However, waiting until the first tuition bill arrives…
What’s the Least Amount I Will Have to Pay for College?
Free. How do we find a free college education or at least greatly reduced from the published price? Makes sense families are concerned about the costs of college and their ability to pay for those continuing-to-rise costs. Scholarships seem like the likeliest possibility for reducing the out-of-pocket costs. They are free money…(i.e. you don’t have…
College Selection: It’s an Imperative
College selection. College selection. Let me say it one more time…College Selection. College selection is the foundation of the college application process. It sounds so basic and simple, that families may not invest as much effort into this step–relying on a few campus visits and a short browse through a website. Yet, taking the time…
Guest Post: The Saving for College Challenge, Part One – How Can I Save For College
About the authors: For over 25 years, Cynthia S. Meyers, CFP®, MBA, has assisted people with their Lifetime Financial Planning–helping to build and preserve wealth in every area of life. Jenny Hood, CFP® has been a paraplanner with Cynthia S. Meyers for five years and enjoys being a part of the financial planning process. They…
Financial Aid Myths: Fact & Fiction
Soccer field sidelines are filled with parents sharing their college expense stories and sometimes “nightmares” that can create misinformation circulating through the community. Depending on the listening parent’s effort to validate or debunk the information gleaned can determine how useful the shared experience will be in guiding their own children. Here’s a few common myths:
Interest: Another Cost of Borrowing Student Loans
The information above is from the Federal Student Aid website. What it means is described below: Interest accrues daily on any student loan. The interest is added to the principal on a quarterly basis, then the next quarter’s interest is calculated based on the new total principal. Students can make payments on the interest and…