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CollegeFinancialLady

Is it really college credit?

The #1 way to keep college costs down is of course to minimize the amount of time spent in college. Many people rightly focus on getting college credit prior to enrolling as a college student. There are several main ways of getting these credits: AP or IB classes and tests Community colleges Online courses Before packing your schedule with these…

Student Debt: Know Before You Apply

As the college application season approaches, it’s important to remember one of the big reasons you want your child to attend college: Because of the opportunities for a better adult life that college provides. Whether that means career, intellectual, social, or another form of engagement and success, college is considered by many to be a key piece. In order to…

Morningstar 529 Plan Ratings

Investment analyst Morningstar released their annual rating of 529 plans this week. Morningstar rates 529 plans on the same 5 criteria it uses in its mutual fund ratings: People–Are the managers and researchers directing the plan’s investments skilled and well-supported? Process–Are the strategies sensible and are past successes likely to be repeated? Are the asset-allocation and fund selection for the age-based…

EFC: Why You Need to Know

EFC is your Expected Family Contribution. In the real world, think of it as your Minimum Family Contribution. There is no requirement that a school meet your need, though some will. If schools aren’t going to meet your need, why do you need to know your EFC? Beyond knowing the minimum you’ll be expected to pay for your child’s education each…