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January 10, 2015

Everyone Should File FAFSA For College Financial Aid

The writer is right on regarding FAFSA. Everyone should file it. In some cases it will stimulate unexpected sources of aid. However the article makes no mention of other financial aid forms that would be required by many schools. The CSS Profile and the college’s own institutional form. Families should never miss the college(s) deadline. If they do for some reason, there are a couple of ways to deal with it. Contact our office for more information. and no obligation consultation of your situation

It’s financial aid season for college applicants, a time when deadlines rule
News Source: Bangor Daily News

Filed Under: News Tagged With: , , , , ,
January 2, 2015

Be Strategic When Filing FAFSA For Financial Aid

The article entices you to file the FAFSA immediately. As I have stated countless times, this is not so good advice for many families applying for student financial aid. There is one main reason here. Contact our office for more information.

New Year’s is the best day to apply for college financial aid
News Source: CNN Money

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December 19, 2014

Financial Aid, FAFSA & Undocumented Parents

It was a pleasure to talk with Emily for USA Today and offer important advice for students with undocumented parents. Their pursuit to achieve the best for their education is praiseworthy. As the article states, these students should always file FAFSA if possible. Even though as a non-citizen, the student will not qualify for Federal aid, the FAFSA may stimulate other forms of aid. The student should always ask the financial aid staff for assistance when needed; they are happy to assist in any way possible.

The FAFSA requires Social Security numbers for the student and parents. Ron Ramsdell, founder of Minneapolis-based College Aid Consulting Services, says if your parents are undocumented, you should enter all zeroes for their numbers.

FAFSA application tips for students with undocumented parents
News Source: USA Today

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December 13, 2014

Is There An Important Deadline For FAFSA?

The writer states that the deadline for FAFSA is June 30th. Not true and big mistake for parents that adhere to this advice. Each college will have their own individual deadline which will be earlier. Also, the article does not mention that there may be other forms that will be required like Profile. One last thing, many families should not file their financial aid forms immediately. Why? One important reason. Contact our staff to learn more.

Important Deadline Approaching For Students Needing Help Paying For College
News Source: WBAA – Public Radio Of Purdue

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December 3, 2014

Chances Are You Can Afford Private College

Students with high academics should always apply to prestigious private colleges. Many students who deserve to attend these schools never apply to them due to “sticker shock”. We have found over the years that many of our students end up attending a private school for around the same price as a state institution. Why? Two reasons; first, private schools have more endowments to tap into. Second, professional guidance. Our clients go through the financial aid process in the most efficient way possible. Knowing how to play the financial aid game is key. Contact us today to learn more.

When you should apply to a college regardless of the cost
News Source: USA TODAY College

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November 14, 2014

Good Question: Can You Borrow Too Much Money For College?

It’s always a pleasure to talk to the WCCO team. I would like to share a couple of things that we did not have a chance to cover.

  1. Students should always utilize subsidize Federal loans (Stafford or Perkins). Why? There is no accruing of interest during the duration of their education and the first payment is not due until 3-6 months after graduation.
  2. Regarding private loans, they should be used as a last resort. If they need to utilize one, always shop around. There could be some good terms out there.

Ron Ramsdell, the founder of College Aid Consulting Services, says every student’s situation is different, but you can certainly borrow too much. “The key is families need to plan ahead.” He said families need to consider a few things like the real cost of college, how much money a student can get in scholarships and gifts, how much parents can and will help, the amount of assets from other family members like grandparents and a student’s starting salary upon graduation.

Filed Under: Press Tagged With: , , , , , , ,
October 14, 2014

Financial Aid Simplification and Transparency Act

I definitely don’t see this bill dubbed the Financial Aid Simplification and Transparency Act (FAST) passing for many reasons. Regarding loans, parents need to be more savvy in the financial aid process to retain more gift-aid resulting in less debt with loans. In addition, they need to choose a college based on what they really can afford. The best advice I can give parents is to plan ahead!

What reauthorizing the Higher Education Act means for students
via USA Today

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October 7, 2014

When Should You Complete The FAFSA

The article states that you should complete the FAFSA as soon as the form becomes available, right after January 1st. I disagree with this in certain situations. If the family has their taxes completed in a timely manner and can meet the college(s) deadline, they should. Why? One big reason is by using figures from a completed tax return from the base year, the less likely the family will have to go through a process called verification. Regarding credit cards compared to student loans, the family should always consider utilizing student loans first, especially the subsidized loans.

3 big money mistakes to avoid in college
via USA Today

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October 7, 2014

Should Students Apply To College Early?

The article states that students should apply to colleges as early as possible. Good advice! However, some students will be offered early decision. Bad news here for many reasons for most families. Parents need to know the difference between early decision and early action. If you would like to read a column I wrote on this topic, please contact our office.

4 reasons to apply to college early
Shreveport Times

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September 23, 2014

Cost Of College Education To Parents

I found this article worth posting because it states that there are proposed changes in the financial aid process. One of them would allow parents and students to complete the FAFSA using information from two years earlier so they can file it in the fall which would allow them to see how much they would have to pay in the following year earlier. I don’t see this happening for many reasons. I always advise my clients to apply to lower price schools as a backup. I do concur with the author that parents should discuss as much as possible with the student regarding the true cost of their education and the debt they will incur.

Cost of student loans can haunt parents, too
Des Moines Register

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