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The Savings Hierarchy

April is Financial Literacy Month so I’m talking about some general personal finance topics that might be of interest to you and your students. Today I’m writing about the savings hierarchy: What savings accounts should you have, and what goes into each one? The savings hierarchy fits within the overall hierarchy of financial needs. You’ve seen these types of pyramids…

Colleges Still Have Openings!

If you’re still looking for your dream school, head over to NACAC’s College Openings Update. This list of colleges still accepting applications is released annually in early April, and serves as a reminder that plenty of colleges are happy to welcome students rather than rejecting them. The database allows you to search on numerous criteria including location and availability of…

Credit Scores

April is Financial Literacy month, so I’m going to write about some broader topics that might be helpful to you and your student. Starting with credit scores: what are they, how do you get one, why do you care? My friend Jennifer, who’s also a financial advisor, says that a credit score is the adult version of an SAT score….

What’s in a Financial Aid Award Letter?

Financial aid awards come in all shapes and sizes. Unfortunately, so do financial aid award letters and comparing them can seem like comparing apples to hot dogs. Here are the key elements to look for: Cost of Attendance. This should be at the top of the award letter and it– not the size of scholarships– should be your starting point…

What Kind of Aid is it?

Scholarships and grants are free money. Does it matter which kind of free money you get, as long as you get some? As a matter of fact, it does. Just to refresh: colleges offer two primary types of financial aid, need-based and merit-based. Need-based aid is allocated on the basis of the FAFSA or CSS Profile and reduces or even…

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