PAYING FOR COLLEGE
Here are sites that will help you understand the process of student loans, compare aid awards when they arrive, and then help you with repayment when you graduate.
Student Loans: The Big Picture
https://www.studocu.com/blog/en/student-loan-debt-report
An analytical report on the debt burden facing U.S. borrowers today—and the post-pandemic policy changes that will shake it up.
SavingforCollege.com
https://www.savingforcollege.com/
Everything you need to know about the 529 tax-free college savings program, for use at any college in any state, by any child in the family. Compare plans here, and link to set up an account. Learn about state tax advantages, performance history, and benefits – and limitations – of 529 plans.
FAFSA.ed.gov
You’ll be required to fill out the FAFSA form for most student aid, and certainly for government loans. FAFSA stands for Free Application for Federal Student Aid. It asks not only about income but assets, and it’s imperative that you understand how to fill out this form online, starting October 1 of the year before you require aid.
A FAFSA Guide at CreditLoan.com
https://www.creditloan.com/student-loans/fafsa-guide/
This is one of the most comprehensive, yet simple guides to understanding the FAFSA process. Read this link when your child is a junior in high school – well before starting the application process. Student loans have to be repaid – with interest. But scholarships are “free money”! Start early in high school to search for scholarships, and build the requirements to win several of them. Here are two free sites that can help:
Scholarships.com https://www.scholarships.com/
Fastweb.com https://www.fastweb.com/
SimpleTuition.com
https://www.simpletuition.com/
Understand the costs and implications of student loans. Start here to search and compare student loan options, including private student loans – and learn how long it will take to repay the loan, and the overall cost including interest.
Finaid.org
Here you’ll find absolutely everything you need to know about student loans, along with a spreadsheet for comparing financial aid offers when they arrive, and calculators for determining loan repayment costs.
IBRInfo.org
Don’t have enough income to repay your student loans? Use this site to learn about Income-based Repayment Plans that can lower your costs of repayment.
