Free Resource for Researching Majors and Related Jobs
For many students and families, the primary purpose of college is to get a good paying job on graduation. The reality is nobody wants to graduate and not be able to find a job that pays off their college debt while allowing a decent standard of living. A little research into the job market before applying to college could help students decide if the debt would be worth it.
What is a Student Aid Report?
What does it mean? The Student Aid Report (SAR) lists a student’s eligibility for federal student aid and summarizes the information submitted on the FAFSA application. Your eligibility is based on your Expected Family Contribution (EFC) which is calculated based on the information you submitted on the FAFSA. The SAR will also include your Data Release Number (DRN) which you’ll need to allow schools to add their code to your application.
Should you use a private college counselor?
For a certain portion of families going through the college admission process, private college counselors are a recognized part of the landscape. Many families consider hiring an Independent Education Consultant (IEC) as just another expense in applying to college. According to a survey of “students who scored in the 70th percentile or higher on the SAT (at least 1150 out of 1600) or ACT (a composite of at least 25)…, 26 percent admit to hiring an IEC to help them in their college search.”
What is college work-study?
What does it mean? Work-study refers to the federal financial aid program where students are employed in campus sponsored jobs. Their earnings are considered part of their financial aid award since half of it comes from federal funds. Jobs are available only to students who qualify by submitting the FAFSA. Some states and colleges have their own work-study programs which may have different requirements.
Athletic Scholarship Reality Check
I don’t know if you have heard, but there are eighth graders getting athletic scholarship offers from some pretty big name colleges. The future football quarterbacks get the most press but it’s happening in softball, basketball, and soccer and at ever younger ages. If you hear about this while driving your athlete to practice, you might start thinking that you’ve got the cost of college covered. With all the work your daughter puts in, surely she’ll manage to snag one of those scholarships you keep hearing about. Well it’s time for a reality check. Getting a college athletic scholarship is not a plan for paying for college.
What is need-based aid?
What does it mean? Need-based aid is financial aid that is awarded based on a student’s financial status. To qualify for federal and most college need-based aid, students must submit the Free Application for Federal Student Aid (FAFSA). The FAFSA calculates an Expected Family Contribution (EFC). A student’s financial need is the difference between the Cost of Attendance (COA) of a college and her EFC. Financial aid awarded to meet the difference is considered need-based aid.
The College Cost Gap – How Much is Your Gap?
As a parent, you hope you can find a way to pay for college. With college prices rising rapidly, how much college will cost has become a commonplace worry these days. To ease this concern, many parents believe that if their child works hard, gets good grades, and scores well on tests, they will get enough money from merit scholarships and private scholarships to cover most of their college costs. Unfortunately, that’s far from reality. Talking with parents in our Facebook group Paying for College 101, they say they are paying $50,000 to $100,000 or more for their child’s education, even after merit aid and scholarships. Here are reasons why even these savvier parents are having a hard time bridging the gap. Private Scholarships Can Offset Need Awards Parents and students are o ...
What is FAFSA?
What does it mean? The FAFSA is the Free Application for Federal Student Aid. This is the financial aid form that students must complete to become eligible for any federal college financial aid programs, including federal student loans and work study. Many states used it to distribute state-based financial aid. The majority of colleges require it for any institutional awards as well.
Why You Shouldn’t Take Out Private Student Loans
I just can’t do it. This post was supposed to be on what you need to know about taking out private student loans. I researched all the ways that private loans differ from federal student loans. You don’t need to go past the first page of a Google search to find all the comparisons which pretty much say the same thing. They all conclude that federal loans are the better option.
What You Need to Know About Student Loans
What does it mean? A loan is money that you have to repay with interest. Students may find loans included as part of their financial aid award, usually federal. There are a variety of loans available for students. The federal government is the largest source of student loans. However, students can find student loans from state governments, banks (referred to as private students loans), and colleges themselves