Rising interest rates are a boon to savers but a curse to borrowers. Federal student loan interest rates are based on the 10-year Treasury yield at the May auction. That auction took place last week, so next year’s interest rates are set– and they are more than 1% higher than last year’s rates. Each loan type– Direct Student Loan, Parent…
Did you get waitlisted at your top choice school? Here’s what you need to know. First of all, this year is likely to be a Wild West version of waitlists. Not only are college applications down, but many colleges have adjusted their acceptance dates to one of a range of different dates. You might need to commit to one school…
Before your student chooses a college– or starts dreaming of an unaffordable one– here’s some data they need to see. A recent Harris Poll on behalf of CNBC Make It’s “Middle-Aged Millennials” series showed that more than half of older millennials– those aged 33-40– regret taking out student loans. Of 1,000 such adults surveyed, the average amount borrowed was just…
A recent New York Times article shows that the cost of a number of private colleges is at or rapidly approaching $100,000 per year. Needless to say, the stakes have never been higher for choosing the right college. So how do you make a good choice– a college that’s a fit for your student academically and socially, and for your…
If your financial aid award includes work-study, you should understand what it is. Work study falls under the self-help column of financial aid, meaning it’s not free money. The work-study portion of your aid package is your earnings from a qualifying on- or off-campus job. You get work-study funds by finding a job and working during the school year. Work-study…