Say Goodbye To The EFC and Hello To Its Replacement, Student Aid Index

2022-02-01T22:23:33+00:00February 15, 2022|Blog, College Planning|

Applying for college is a daunting task, and figuring out how you will pay for it can be downright confusing. Your mind is likely spinning with questions like,  How much does it actually cost?  What do I currently have saved up?  How will my income impact financial aid?  Will my child be eligible for any scholarships or grants?  Will they need to take out federal loans? The government is changing how you calculate your child’s [...]

How Important Are Standardized Test Scores for College Admission?

2022-01-17T13:27:01+00:00January 15, 2022|Blog, College Planning, Family Financial Information|

Institutions have long used standardized tests to measure students' competency in specific subject areas. Some of the more common areas consist of language, math, science, logic, and reasoning.  Students of all ages have come across these tests. From Common Core in elementary school to the ACT and SAT in high school, educators continuously use standardized tests to evaluate students’ intellect.  ACT and SAT scores have been synonymous with college applications for years. These tests leave [...]

PSLF Overhaul: What You Need to Know

2021-11-10T03:36:39+00:00October 20, 2021|Blog, College Planning, Family Financial Information|

In October 2021, the US Department of Education initiated an overhaul of the existing Public Service Loan Forgiveness program (PSLF). Per the US Department of Education: “The Department estimates that the limited waiver alone will help over 550,000 borrowers who had previously consolidated their loans see their progress toward PSLF grow automatically, with the average borrower receiving 23 additional payments. This includes approximately 22,000 borrowers who will be immediately eligible to have their federal student [...]

Roth IRAs Aren’t Just for Retirement, They Can Boost Your College Fund, Too

2022-01-07T14:00:31+00:00October 15, 2021|Blog, College Planning, Family Financial Information|

A Roth IRA for college planning can be an important strategy to help foot the education bill. When you think about saving for college, what’s the first thing that comes to mind (besides worrying that you’ll have enough)? The answer is likely 529 plans, as these are the most commonly discussed vehicles concerning college savings. But there are several other options to consider, like Roth IRAs. Although Roth IRAs are primarily known for retirement savings, [...]

Student Loan Debt Just Crossed $1.7 Trillion, How To Save Your Finances From This Startling Statistic

2021-09-01T16:41:42+00:00September 15, 2021|Blog, College Planning, Investments|

Earning a degree is often part of the “American Dream,” making it an accomplishment worth working toward. And while graduating from college is a collective dream, the cost of obtaining it can be somewhat of a nightmare. On average, earning an undergraduate degree results in about $36,510 in student loan debt. For those earning a master’s? That number nearly doubles to $71,318 (according to educationdata.org).  Keep in mind that the type of degree one earns [...]

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