Money

What is tuition discounting?

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college student asking what is tuition discounting

ShareTweetFlipEmailPin0 SharesTuition discounting refers to the scholarships and grants colleges and universities provide to students. The Association of Government Boards of Universities and Colleges defines it as “Tuition discounting is the process by which the institution offsets its published tuition price (sticker price) with institutional grant aid for enrolling students.” The students are not paying … Read more

Should I apply to colleges I don’t think I can afford?

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ShareTweetFlipEmailPin0 SharesNo–with a big assumption. The assumption is that you already know approximately how much you can afford and how much financial aid  a college is likely to give you. That means that you have already used a calculator such as the College Board’s EFC Calculator to estimate your expected family contribution (EFC) and the … Read more

What are private education loans?

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ShareTweetFlipEmailPin0 SharesPrivate education loans are loans  to college students made by financial institutions such as banks and credit unions. The do not require students to complete the FAFSA and students receive the money directly from the lender. Many private loans appear to have lower interest rates than federal loans. However, these advertised rates are generally … Read more

What is a PLUS loan?

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ShareTweetFlipEmailPin0 SharesThe Parent Loan for Undergraduate Students (PLUS) is a federal program that allows parents of undergraduate students or graduate and professional students to borrow money not covered by student financial aid awards. Parents can borrow up to the full cost of attendance and there is no cumulative limit for borrowing. The lender is the … Read more

What are the federal student loan programs?

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ShareTweetFlipEmailPin0 SharesThere are four types of federal loans. Three are loans to students and one is a loan to parents. The most common loan is the Direct Loan, formally known as the Stafford loan. These are direct loans to the student from the federal government. There are two types of Direct loans, subsidized and unsubsidized. … Read more

FAQ: I won’t qualify for financial aid, why should I fill out the FAFSA?

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Post it note FAQ: I won't qualify for financial aid, why should I fill out the FAFSA?Even if you think your family makes too much money to qualify for financial aid, you should still fill out the FAFSA. You need to complete the FAFSA to be eligible for certain loans that don’t rely on income such as the unsubsidized Direct Student Loan the PLUS loans for parents.  The FAFSA is also required for many state-based college financial aid programs.

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FAQ: Can I appeal my financial aid award?

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A person stands on a college campus pathway near a note that reads, "College FAQ: How to appeal financial aid award?" outlining a common financial aid concern.
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Post-it note asking Can I appeal my financial aid award?Yes. You can appeal your financial aid award if there has been a change in your family circumstance or if you believe that the process did not account for a specific aspect of your family situation. The following is a list of reasons why you might appeal your financial aid award:

  • Job loss
  • Reduction of income
  • Illness/Disability
  • Addition to family
  • Natural Disaster
  • Death
  • Relocation
  • Separation/Divorce
  • Private Tuition
  • Care for elderly parent
  • Increase Child care expenses
  • Changes in number of dependents in household
  • Unusual or one-time events that inflated your income the previous year

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What is the Federal Methodology?

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ShareTweetFlipEmailPin0 SharesThe Federal Methodology is the formula used by the federal government in calculating a student’s Expected Family Contribution (EFC) which determines their eligibility for financial aid. Students receive their EFC by completing the Free Application for Federal Student Aid (FAFSA) and receiving their Student Aid Report (SAR). The Federal Methodology is used for calculating … Read more