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The Critical Student Financial Aid Terms You Should Know
The language of financial aid is loaded with jargon and acronyms. Knowing and understanding the following terms will help put you ahead of the game.
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Parents: Know the College Admissions Timeline
The college admissions process can be tricky for any family, especially those going through it for the first time. Separate financial aid and admissions applications, multiple deadlines at each school, standardized exams, letters of recommendation, required essays, and, this year, changes to federal financial aid. No wonder you feel stress.
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Do These 5 Things NOW to Be Ready to File the FAFSA “Sometime in December”
“Sometime in December” Hard to believe, but that is the U.S. Department of Education’s official response when asked for the date that this year’s FAFSA will be available. The Free Application for Federal Student Aid (“FAFSA”) is delayed this year because the U.S. Department of Education (“ED”) is simplifying the form and changing the output […]
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The Student Aid Index: The New Way to Calculate College Aid
The U.S. Department of Education (ED) is about to fundamentally change how eligibility for college financial aid is calculated. Here’s what you need to know and a link to a free calculator to estimate eligibility for college aid using the new methodology.
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Student Loans Can Help Build Strong Credit Scores
College students and graduates can use student loans to build a great credit score. These three steps will help you understand the credit scoring process and how student loans can help young consumers build a high credit score and open opportunities for future borrowing.
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Federal Student Loans – Still the Best Deal for Undergrads
Interest rates have increased noticeably over the past year, which means that Federal student loan interest rates will climb as well. When? By how much? Will the rate on this loan increase more in the future? Is there a better option for undergraduate students to borrow for college? These are all questions into which potential […]
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529 Plans: A Bad Name for a Great Way to Save for College … and More
In the 1990s, Congress started 529 college savings programs to help families create a nest egg for college. Although marketers would surely advise against naming a program after a section of the tax code, Section 529 in this case, “529s” grew into a preferred way of saving for college. And now the 529s can be […]
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Understanding and appealing financial aid award letters
For gardeners, April showers bring May flowers. For high school seniors, the bloom may already be off the rose. The joy of getting college acceptance letters often quickly fades as the reality of comparing colleges and determining “the one” comes into focus.
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Left on the Table: The Saga of Unclaimed Pell Grant and Scholarship Money
Consider the tried-and-true axiom for the lottery: “You need to be in it to win it”. Well, when it comes to applying for federal financial aid, nearly two million high school students annually are deciding not to play the game whatsoever, a decision that is costing almost half of them the chance for some much-needed […]