Category Archives: financial planning

college costs, financial aid, financial planning

Navigating Net Price Calculators

Leave a comment
Net price calculators


Before your student applies to any college, it’s important to understand the cost of attendance as it applies to your family’s financial situation. Many disappointments can be avoided if this is the first step before applying to any college. We made that mistake with my daughter and although she got into her first-choice college, we simply could not afford it. If we had been realistic about the cost, we would have discouraged her from applying and steered her toward more affordable options.

With the rising costs of higher education, understanding the true financial implications of attending college has become increasingly crucial for students and their families. Net price calculators, often available on college websites, offer valuable insights into the actual cost of attending a particular institution after factoring in financial aid and scholarships. Here’s a comprehensive guide on how to utilize these calculators effectively:

Continue reading Navigating Net Price Calculators →
FAFSA, financial aid, financial planning

When Your Financial Aid Award Isn’t What You Expected

financial aid award

As parents, we often have high hopes and expectations for our children’s education, and financial aid plays a crucial role in making those aspirations a reality. However, what should you do when your student’s financial aid award isn’t what you anticipated?

In this guide, we’ll explore steps you can take to address the situation and ensure your child receives the support they need for their academic journey.

Continue reading When Your Financial Aid Award Isn’t What You Expected →
financial planning, parenting, scholarships

A Scholarship Strategy

scholarship

Are you looking for ways to support your child’s academic journey without breaking the bank? Creating a scholarship strategy could be the answer! Encouraging your students to apply for scholarships can not only alleviate financial burdens but also open doors to incredible opportunities.

Here are some tips to help guide your child through the scholarship application process:

Continue reading A Scholarship Strategy →
FAFSA, financial aid, financial planning

Another Delay for the FAFSA

FAFSA

Another FAFSA delay, yet again.

The U.S. Department of Education announced Tuesday that colleges and universities won’t receive students’ FAFSA information until at least early March. The delay, they said, is the result of the department’s decision to fix an error in how a student’s eligibility is calculated.

In its statement announcing the latest delay, the department also acknowledged that students can’t currently make corrections to their forms and wouldn’t be able to do so until the first half of March.

“With this last-minute news, our nation’s colleges are once again left scrambling as they determine how best to work within these new timelines to issue aid offers as soon as possible,” Justin Draeger, president of the National Association of Student Aid Administrators, said. “Financially vulnerable students shouldn’t be the ones to pay the price for these missteps.”

An Education Department website lists a host of other issues on the new form that are affecting applicants, echoing parents’ frustrations over the last month.

Continue reading Another Delay for the FAFSA →
financial aid, financial planning, Student debt, student loans

Exploring the Various Types of Government Student Loans

government student loans

Government student loans play a significant role in providing financial assistance to students who aspire to achieve their academic goals.

Education is a key investment in one’s future, and for many students, financing their education becomes a crucial aspect of pursuing higher studies. With so much confusion these days over which government loans are best and what the difference is, I felt it was time to simplify it for you and create a list along with the specifics on each.

Following are the various types of government student loans available to students in the United States.

Continue reading Exploring the Various Types of Government Student Loans →
college costs, financial planning, scholarships

UVM to Offer Scholarships and Cash Prizes in New Pitch Challenge for High School Students

scholarships

UVM is excited to announce the Vermont Pitch Challenge, a new entrepreneurial-focused competition that gives high school students in grades 10-12 from across the world a chance to pitch innovative and impactful business plans–all while competing for cash prizes and full-tuition scholarships to UVM. The new program is free to enter and offers young students a unique opportunity to learn from UVM faculty and alumni as well as top entrepreneurial experts about how to write a business plan, create a compelling pitch, and achieve their ultimate career goals.

The Vermont Pitch Challenge gives high school entrepreneurs from across the globe the chance to pitch innovative businesses that make a difference in their communities. Along the way, participants will learn from top experts during monthly webinars about how to write a business plan, create a compelling pitch, and achieve their goals–all while competing for cash prizes and scholarships to the University of Vermont. Learn More.

Continue reading UVM to Offer Scholarships and Cash Prizes in New Pitch Challenge for High School Students →
college costs, financial aid, financial planning, merit aid

Navigating the Path to Merit Aid

merit aid

As the cost of higher education continues to rise, pursuing financial aid has become a crucial aspect of the college application process for many students and their families. Merit aid, awarded based on a student’s achievements and abilities rather than financial need, can significantly alleviate the financial burden associated with attending college.

Both my children received merit-based aid because of their academic performance. The best path to this type of aid is to focus on academics. Start when your child enters high school by stressing the importance of a strong academic performance.

Continue reading Navigating the Path to Merit Aid →
FAFSA, financial aid, financial planning

FAFSA Frustrations and Questions

FAFSA

It’s been a busy holiday season culminating with the availability of the new FAFSA. Let’s just say it’s been anything but seamless for parents and students.

Monitoring Facebook groups, I’ve noticed so many frustrations with the new form. I’m not sure if it’s because it’s new and everyone is not too sure about the simplified format, or the instructions just aren’t clear, which is a distinct possibility. Whatever the case, the questions online are prolific.

My best advice: take it slowly. Read every section carefully and if you don’t understand, search for answers at StudentAid.gov.

From NerdWallet, here are its five most-confusing aspects, and strategies to deal with them — so you can submit your form ASAP.

Continue reading FAFSA Frustrations and Questions →
college costs, financial aid, financial planning, parenting

How Much Should Parents Contribute Toward the Cost of College?

cost of college

There isn’t any definitive answer to how much parents should contribute toward the cost of college. Some feel it’s the parent’s responsibility to pay for the entire cost. Others feel that the student should participate financially. And still, others believe the student is responsible for securing the loans, grants, and scholarships themselves and the parents should not invest. Of course, there are always those situations when the parents, no matter how much they would like to help, are unable financially to contribute.

No matter which group you fall into, there are some important facts you should know about financing your student’s college education.

Continue reading How Much Should Parents Contribute Toward the Cost of College? →
financial aid, financial planning, Student debt, student loans

Avoid High Student Loan Debt with these Financial Strategies

student loan debt

Paying for college today can be stressful. Reading all the posts from parents on Facebook underscores the fact that college is expensive and parents are trying to pay for it without borrowing or graduating with massive student loan debt.

According to the Education Data Initiative:

Student loan debt in the United States totals $1.766 trillion.

Continue reading Avoid High Student Loan Debt with these Financial Strategies →