Michelle Kretzschmar

What is the difference between subsidized and unsubsidized loans?

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ShareTweetFlipEmailPin0 SharesThere are two types of federal guaranteed student loans: subsidized and unsubsidized. The subsidy refers to the payment of interest while the student is attending school or is in a deferment or grace period. For qualified students, the federal government pays the interest on the loans and therefore “subsidizes” the student loan. Subsidized student … Read more

FAQ: Are scholarships taxable?

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A student stands on a college campus holding books. A large sticky note on the left reads, "College FAQ: Do you pay taxes on scholarships?
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Post-it Note asking Are scholarships taxable?Scholarships are taxable depending on what they are spent on. If you are a degree candidate, the amount of your scholarship that covers tuition and any required fees, books, supplies, and equipment is not taxable. These books, supplies, and equipment have to be required of everyone taking the class in order to qualify. The portion of your scholarship that covers room and board, travel, research, clerical help, and equipment is taxable.

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When do I apply for financial aid?

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ShareTweetFlipEmailPin0 SharesThe Free Application for Federal Student Aid (FAFSA) can be filed any time after October 1st of the student’s senior year. You should submit your FAFSA as early as possible since many schools distribute certain types of financial aid on a first come, first served basis. Since the FAFSA requires information from both the … Read more

Who is eligible to receive financial aid?

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ShareTweetFlipEmailPin0 SharesFinancial aid consists of all awards from government sources, private organizations, and colleges themselves. Therefore, eligibility for financial aid will depend on the source of the aid. For federal financial aid and most state programs, besides demonstrating financial need, students must meet the following requirements: be a U.S. citizen or an eligible noncitizen; have … Read more

How many colleges should you apply to

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ShareTweetFlipEmailPin0 SharesA common recommendation is that students should apply to six colleges with some going as high as ten. These recommendations usually suggest applying to a certain number of Reach, Match, and Safety schools. These are often defined in terms of where your academic record places you in terms of students the colleges accept. There … Read more

What are SAT Subject Tests?

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ShareTweetFlipEmailPin0 SharesProbably the majority of high school students haven’t heard of SAT subject tests which is as it should be since most won’t take any. The SAT Subject Tests (previously called SAT 2’s) are one hour high school level subject tests that are given during the same time as the SAT. The tests are offered … Read more

What is a gap year?

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ShareTweetFlipEmailPin0 SharesA gap year is time taken off (usually a year) after graduating from high school and before starting college. Gap years are common in places such as England and are becoming more popular in the United States. Gap years originate in the desire to take a break from the academic stress of high school … Read more

What is a weighted GPA?

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ShareTweetFlipEmailPin0 SharesA weighted GPA is a grading system that provides extra grade points for harder classes. For example, in a 4.0 grading system, an A for an US History class is worth 4 points but an A in an honors version or Advanced Placement is worth 4.5 or 5 points. This means a student could … Read more