"The Experience"
From One Parent to Another: Money Issues
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
They say hindsight is 20/20. In this series, you can find out what other parents learned while going through the process of finding, selecting, and paying for their student’s education!
Check your options
Dave, a guidance counselor whose sons both attended private colleges on merit scholarships advises, “Start doing your homework about colleges and their academic and merit-aid programs early, and as you narrow down the choices, make a personal contact and/or visit with the admission office. Having a support person on the college campus is a real plus when it comes to staying abreast of individual scholarship requirements and deadlines.” Read the rest of this entry »
Help! I Make Too Much to Qualify for Financial Aid
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
By Carl Buck
Parents who rank high on the income scale often rush up to me after my financial aid seminars wondering if they have any chance of getting help in financing their sons’ and daughters’ college education. All too frequently, parents believe that they have no choice but to pay every cent of tuition and fees, room and board, books, and all other college-related expenses, without any financial assistance from other sources. While the search for financial aid for parents who “make too much” may be challenging, don’t despair! There are various aid opportunities that are not based on financial need and are available to families regardless of their household income level and assets. Read the rest of this entry »
Top Ten Financial Aid Tips for Parents
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
Looking for financial aid to help foot the tuition bill? Follow these 10 tips to help you secure the funding help you need and remember - don’t wait until your child’s senior year to start thinking about financial aid. The sooner you start, the more money you may be able to find. Read the rest of this entry »
Three Families, Three Financial Situations, Three Colleges: Part One
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
The Families
Every family’s financial situation is different, but there are some “rules” that apply universally when one’s Expected Family Contribution (EFC) is being calculated. Which family is most like yours?
Case One: A Lower-Income Family from California
Our first family includes a single mother with two children : a high school senior and a ninth grader. The total family income is $42,000, with checking and savings accounts totaling $10,000. The family home was bought ten years ago for $50,000, but is now worth quite a bit more. The only retirement plan is Social Security. Read the rest of this entry »
If I Only Knew: Financial Aid Advice
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
Applying for financial aid can be very daunting, especially if you don’t have someone to turn to who has been through it. Not only do these families share their experiences — good and bad — they also reveal what they would do differently. If you can learn from them, you will be better able to use the system to your advantage.
We have changed the names of the families to protect their privacy.
The Criswell Family
Susan Criswell can finally see the light at the end of the tunnel. Of her three children, two have graduated from college and the third is entering her sophomore year. But what makes this widowed mother’s story so amazing is that even though she lives on a fixed income, she sent all three girls to school without the benefit of any financial aid. How? By sending all three to state universities. Read the rest of this entry »
State Tax Breaks for 529 Contributions
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
Looking for a way to shave your tax bill? Nearly every state in the union that has a state income tax now offers a tax deduction if you’re contributing to a 529 plan.
Many states require you to contribute to an in-state plan, but some states allow you to contribute to any state’s plan and still receive the tax deduction. Be sure to check the regulations for your state before selecting a plan. Here’s a quick look at some of the most current tax breaks in place: Read the rest of this entry »
The Pros and Cons of 529 Plans
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
The good stuff
Here are some great reasons to consider investing in a 529 plan to save for your child’s education:
529 plans are tax-deferred investments
When you invest in a 529 college savings plan, your withdrawals will most likely be tax free. (It’s always wise to refer to IRS Publication 970 to be sure.) Until recently, this tax-free provision was set to expire in 2010 but thanks to recent changes to the law, it appears to be a benefit that will be around for years to come. Read the rest of this entry »
The 411 on 529 Plans
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
The buck starts with you!
As college costs continue to be a significant issue when choosing which school to attend, you may reach for the panic button when you ponder how on earth you’ll pay for it. The best time to start saving is when the kids are still running around in diapers since even the smallest contributions can make a big dent in tuition by the time they enroll. However, even if your children are wearing braces and pimple cream, it’s not too late to get started! Smart investing, even late in the game, is still an investment in the not-so-distant future.
However, most of us aren’t savvy investors and trying to figure out the best way to save can be downright confusing. How should you invest, given your personal situation? We won’t presume to tell you how to invest your money since we’re not certified financial planners, but we can offer insight into one college-savings option: the 529 plan.
Read the rest of this entry »
Middle-Income Families: Making the Financial Aid Process Work
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
by Richard Woodland, Director of Financial Aid, Rutgers University Camden Campus
A report from the U.S. Department of Education’s National Center for Education Statistics (August 2001) took a close look at how middle-income families finance a college education. The report, Middle Income Undergraduates: Where They Enroll and How They Pay for Their Education, was one of the first detailed studies of these families. Even though 31 percent of middle-income families have the entire cost of attendance covered by financial aid, there is widespread angst among middle-income families that while they earn too much to qualify for grant assistance, they are too financially strapped to pay the spiraling cost of higher education. Read the rest of this entry »
Looking Beyond Your School for Financial Aid
Author: petersons, Category: College Scholarships & Financial Aid, Scholarship Contest
Coming to the United States for a college or graduate education is a dream that can be difficult to fulfill due to the costs involved and the limited amount of financial aid available. But don’t give up hope! Financial aid for international students can be hard to find, but it’s out there. You just need to be willing to do some research — and perhaps make a few phone calls
Start with a scholarship search
The easiest place to start looking for money to pay for your education is on the Internet, starting right here at Petersons.com. Our international student scholarship database is completely free to use and hosts more than 420,000 awards worth over $2 billion. Since scholarships are free money, they are the best way to start chipping away at your tuition bills.
Read the rest of this entry »