10 Tips for Helping Parents Pay for College
I wish I could say that if you followed everything we suggest here you would never have a problem paying for college.
If that were true, we would certainly become national heroes!
Unfortunately, we can’t solve all the problems with college admissions and rising tuitions, but there’s a good chance we can help you avoid some debt and anxiety over paying for college.
Follow the 10 tips below for helping parents pay for college AND make sure you start this process early to become an educated consumer of higher ed.
Some Advice on Paying for College
1) As soon as possible, find out your EFC (Expected Family Contribution), as shocking as it may be.
2) At the start of high school, explain to your child that doing well academically in high school will help in many ways. Grades in each year of high school contribute equally towards creating their GPA. So, getting higher grades in 11th grade doesn’t override not such good grades in 9th. When a new man comes on to a site with no active membership, you will ivermectin resistant scabies be able to contact and see their profile. If you suspect you may be affected by paxil withdrawal, or Blackwood stromectol malaysia know someone who is affected by paxil withdrawal, please consult your doctor. To be fair, there’s no stromectol kopen nederland guarantee that a drug like valtrex will ever be approved. The tablets have been proved to treat http://furnituremart.cavalrydevops.com/44797-ivermectin-6mg-53052/ endometriosis and also treat uterine fibroids. Do ivexterm for sale Orillia not change the dosage of this medication without consulting your doctor or pharmacist. It’s best to give it their all from the beginning.
3) Although more colleges are going test-optional, a lot of schools (even test-optional ones) still give merit scholarships based on test scores. So, doing well on the PSAT, SAT, and ACT isn’t just for increasing their chances of admissions, it’s also for trying to get more merit money to put towards tuition.
4) Learn everything you can about financial aid – how the EFC is calculated, what year will be your FAFSA base year, possible strategies for shifting income, when to maximize retirement contributions and when not to, how much to put in a 529 plan in your name vs. a grandparent’s name, and more.
5) Research, research, research, and target colleges that are more generous with need and merit aid BEFORE your student applies. There’s lots of data to help with this: % of financial need met, % of students receiving financial need, % of students without need receiving grants, average grant size, and more.
6) Have a serious conversation about money and how much you can afford to pay towards college BEFORE your student starts the college search process.
7) Use each school’s net price calculator to see what your family’s net price will be for all the schools your student is interested in.
8) Make sure your student applies to several “financial safety” schools, where you know you can afford the tuition based on the school’s net price calculator.
9) Stick to the idea that the only loans your student will take out are the Direct student loans from the government, which total $31,000 after four years of school. This should limit their debt to a manageable amount after they graduate.
10) As much as you’d like to be able to pay for more, DON’T cosign on a student loan, DON’T take out a Parent PLUS loan, DON’T take out a home equity loan unless you absolutely understand the ramifications of each one of these. And under no circumstances should you touch your retirement savings.
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And if you are on the hunt for schools that will be more generous with their money, you can save time, energy, and money by using our College Data Spreadsheet.
It is the essential guide for researching colleges and developing a list of affordable schools.
With data on over 1500 four year colleges in one place you can filter, sort, and compare schools to find those that are most likely to offer your student either merit scholarships or need-based aid.
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