It really is back to school time! The student loan rates for the 2014-15 year have been announced and there has been an increase of approximately 0.8 percent across the board. For direct subsidized and unsubsidized loans the numbers are: 4.66 percent – Undergraduates 6.21 percent – Graduate students 7.21 percent – Parent (PLUS) loans […]
TTHC15 – Offer Letters and the Appeal Process
Start the college planning process as early as sophomore or junior year so that the offer letter results are what you were expecting! WHAT IS A LETTER OF ADMISSION? A letter of admission is the letter from the college notifying the student of their admission/acceptance into the college. WHAT IS AN OFFER LETTER? An offer […]
TTHC14 – Scholarships
What is a scholarship? A scholarship is money that is provided to students to help them pay for higher education. Additionally, it is money that does not need to be paid back. Scholarship vs Grants Scholarships are associated with being “earned” based on academics, athletics, etc. Grants are associated with being “needed” based on financial […]
TTHC13 – 8 Components of College Planning & Test Case
Late Stage College Planning = 8 Mini Plans for Overall Planning 1) College Finances How will we pay for college? Financial Aid Need-based aid and merit aid Will you qualify for one or both or neither? Filling out financial aid forms – Fill them out correctly – Do you I need to fill out the […]
TTHC12 – Saving and Investing for College
Question: What’s the best place to save for college…a 529, the bank, an investment? Answer: It depends, based on your tax situation and whether or not your student will qualify for need-based financial aid.Here are some investments options: 1) Money in the bank Not a lot of tax benefits. Not currently paying high interest rates. […]
TTHC11 – College Planning and Divorce
There are 3 aspects of college planning affected by divorce. Planning and preparing Who will do the leg work? Research on the schools Plan and participate in school visits Determine test prep plan Financial aid Financial aid is based on income and assets of parents and the student. When completing the federal student financial aid […]