Browsing Category

FAFSA

Borrowing? Start with Federal Loans

About 1/3 of students and 1/5 of parents borrow to pay for college, with borrowed money covering about 21% of the total cost of college, according to Sallie Mae’s How America Pays for College. The report also showed that while federal student loans were the most common form of borrowing, about 10% of students used private loans as well. That’s…

Taking out a Student Loan

By now you are most likely aware that you can take out loans to pay for college. But what does it mean to take out a loan? How do you actually do it? First and foremost, federal student loans fall under the heading of Title IV funds and thus the first step in taking out a loan is completing the…

How America Pays for College 2020

Want to know how other people pay for college? Sallie Mae’s recently-released annual report will tell you. This year’s survey was done in March and April of this year and reflects the 2019-2020 school year. A few key points: College costs went up. On average families paid just over $30,000 for the 2019-2020 academic year, compared with just over $26,000…

The FAFSA’s Asset Protection Allowance

If I were the betting type, I’d bet that the Asset Protection Allowance is the part of the FAFSA that gets the most attention. For this fall’s FAFSA, there’s a little bit of good news: It’s finally going up! This should be tempered by: Not by much! The Asset Protection Allowance is probably the strangest calculation in all of FAFSA…

What to do Right Now

I keep hearing variations on the theme of, “When things are uncertain, it’s helpful to have specific tasks to do.” So here is a to do list for you, sorted by your student’s age. Current College Student Check your course schedule to confirm if your in-person and online courses align such that you can get to both. Make sure you…