If you’re facing the dreaded-yet-necessary bemehoth of an application known as FAFSA (the Free Application for Federal Student Aid), you probably have some questions. For many people, filing for taxes is a simpler process than ensuring that the FAFSA is completed accurately and thoroughly. The cumbersome umpteen-long FAFSA application process has been an easy target for complaining about the difficulties of securing higher education, but alas, Sallie Mae (one of the biggest student loan providers) has come to students’ aid… For securing that financial aid. Brand-spankin’ new, Sallie Mae’s February Resource Center is chock-full of advice, instructional videos, Twitter/Facebook links and even a chance to win $10,000. Particularly helpful, the site’s list of common financial aid myths dispel many notions that often prevent otherwise-eligible students for applying for money for college. When I applied for FAFSA in 2004, I relied on my dad’s independent-business-owning tax knowledge and school counselors for [...]
Millions of high school seniors await the wave of college acceptance and denial letters this spring. For most, the often grueling application process is over, allowing for a healthy case of senioritis to set in. Once those letters arrive, however, a whole new season of planning and decision-making begins. Paying for college. Many an eager applicant may encounter a temporary state of pride-induced mania after receiving a “Yes, we like you” letter from their top-choice school… followed by the more sobering news of tuition and living costs ballooning upwards in the tens-of-thousands. Yikes! The U.S. News & World Report recently (yesterday) their updated 10 Steps to Raise $15K or More for College Now, and here are some highlights from the article: Bigger and better tax breaks: The federal government estimates perhaps 2 million tuition-paying Americans will be able to get as much as $2,500 back on their taxes when they [...]
Once upon time, Pell Grants, federal loans from the government, were a great asset to help students pay for their college education. However, Kevin Carey, a policy director at Education Sector, a D.C.-based think tank argues that this is no longer the case. In a recent article, he claims Pell Grants are not as beneficial today, given the rising costs of tuition and the lack of any objective, universal statistics to evaluate how well colleges educate students.
The Web is replete with information on how to finance a college education, but it doesn’t change the fact that it’s expensive and–who are we kidding?–complicated. If you browse previous BG articles and keep an eye out for future ones, you’re bound to find some seasoned insights maneuvering this aspect of the game. But for now, let’s take a glance at how the U.S. government has responded to the increasing financial disparity between a college degree and the country’s burgeoning college freshmen class. I came across a neat and tidy PDF: the College Affordability Fact Sheet, published by the Obama Administration. In it, the following facts are noted: College costs have grown nearly 40 percent in the past five years. 60% of all college graduates leave college with debt. The average college graduate ends up with over $19,000 in debt. Between 2001 and 2010, 2 million academically-qualified students will not [...]
Transferring schools can be a challenging task. Most likely, you are not feeling content with your original selection. Many reasons include the cost, location, athletics, and the desired curriculum. No matter why you have made the choice to transfer, it is usually a quick decision. You become discontent and you want a change. Now, while you are in the midst of making your decision, you have the painstaking process of finding another school, in addition to your homework. Here are some of the key things to address when you are transferring schools so that you do not risk being unhappy with your decision. While considering a new school, it is essential to consider, why would I like to go there? If you are unhappy with the weather in upstate New York it would not benefit you to transfer to a school in Maine, right? Then, once you make up your [...]