Archive for the ‘Loans’ Category

Skipping class costs how much!?

May 14th, 2012 Kathryn Evans No Comments »

According to the recent infographic from StudentScholarshipSearch, skipping just one class is a waste of $20 if you attend a public college, or $50 if youre at a private school. This may seem like its not a big deal, but wasted money can add up fast! If youre paying for college with loans, youll be paying interest on that classs cost too!

Still not convinced you shouldnt skip class? What if i told you that those who wasted time in college are 3x more likely to be unemployed? That got your attention, didnt it?

To find other ways skipping class can hurt you, check out the True Cost of Skipping Class infographic.

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Tags: Class, Class Costs

Should you borrow from your 401k to pay tuition?

May 7th, 2012 Kathryn Evans No Comments »

Most financial advisers will suggest keeping your retirement funds for retirement, though sometimes they can be used if youre in a pinch. If youre seriously considering if this is the right move for you, keep in mind the the pros and cons of tapping your retirement fund:

  • Convenient/quick way to get the funds you need
  • If you borrow you pay interest to your own account, not to a bank
  • Borrowed funds are not taxed
  • Fees and penalties for withdrawal
  • Withdrawals may count as ie and actually decrease a students eligibility for federal aid
  • If you borrow from your 401k, any outstanding funds may need to be repaid to the account within 60 days of terminating employment at apany
  • Youre depleting your nest egg
  • Interest on student loans is tax deductible up to $2,500 unlike 401k loans
  • Parent PLUS loans are federally funded loans that parents may take out on behalf of their student.

Full Article

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Avoid these top scholarship mistakes!

March 10th, 2012 Kathryn Evans No Comments »

While you may not win all of the scholarships you apply for, hopefully the tips from this infographic will get you on your way! And remember, apply apply apply!

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Obama speaks on investing in community colleges

February 11th, 2012 Kathryn Evans No Comments »

This morning, President Obama spoke at Northern Virginiamunity College, addressing students in the schools Automotive Technology program. The 12 minute speech highlighted initiatives that would provide students with better opportunities to gain the necessary skills for employment. The hope is thatmunity colleges would produced skilled workers to fill the many manufacturing and technology industry job vacancies, in order to get Americans back to work and stimulate the economy. Sound interesting? Watch the full speech below.

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Tags: Obama, Obama Speaks

Auto-fill your FAFSA with IRS Data Retrieval

February 8th, 2012 Kathryn Evans No Comments »

In the past, filling out the financial information on the FAFSA has been a hassle since parents and students had to manually enter all of the information. Plus, this information would then need to be cross-referenced with the IRS by the financial aid office. This new IRS data retrieval option takes the some of the burden off of the families, allowing for an easy way to fill out the FAFSA.

Remember, if you havent filed your FAFSA yet, get started! The earlier you apply the more likely you are to receive certain types of aid! If you need help, make sure to download our free FAFSA Guide ebook, or head on over to FAFSAOnline for step by step instructions to this years form!

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Tags: Fafsa, Fafsa Irs

Check out the FAFSA Help Guide eBook

January 19th, 2012 Kathryn Evans No Comments »
  • Filing your FAFSA before taxes
  • Tax credit information
  • Determining a students dependency status
  • Defining a parent
  • Using IRS Data Retrieval

And much more!

Heres a brief excerpt from the guide:

Quick Tips

  • When the FAFSA refers to I, You, Your, etc. it is referring to the student!
  • Always double check even basic items, such as your address and ZIP code.
  • Nothing will kill a FAFSA faster than errors or omissions! Check everything!
  • Colors matter and each years FAFSA is different. Student-related items are in orange on the paper FAFSA, blue if you’re filing online; Items for the parent are in purple.
  • The FAFSA is free. Y

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Tags: Guide, Guide Ebook

2012-2013 FAFSA: What’s changed?

January 16th, 2012 Kathryn Evans No Comments »

Heres what you can expect to find in the improved 2012-2013 FAFSA:

  • Easier online navigation- The sections and questions have been reordered to make it easier to navigate. This best part of this is that the system now knows where you left off, so if you fill out the form over a few sessions, theres no more searching for your next steps. Plus, its skip logic has been improved. This means that the system will eliminate unnecessary questions based on what youve already answered, making less work for you!
  • Updated notifications In addition to previous notifications such as the Student Aid Report and confirmation emails, students may now get various reminder emails depending on how they file.

Full Article

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Tags: Fafsa, Fafsa What’s

Releasing your co-signer from your loan

January 4th, 2012 Kathryn Evans No Comments »

I recently released my co-signer from the burden of being responsible for my student loan payments. A co-signer is responsible for the payment of a student loan if the student who ‘owned the loan’ was unable to make payments, and deferment or forbearance wasn’t an option.

I thought this would be an easy, no ceremony process needed. I didn’t realize how big of a deal this can be to your co-signer, the relief, and the adult-like responsibility you embody when youplete this process.

You see, I AM and adult . I’ve been out of my undergraduate school for almost 10 years, but have been in and out of graduate school since that time in order toplete a Master’s and a PhD. My father, luckily, co-signed my private student loan for my Master’s degree in 2005. With all of m

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Tags: Loan
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