College Admissions & Student Credit Card Debit

Posted By C. Brown

College is a big step for most high school students. The question now of days is, how are you going to pay for your college education? Statics show that not only are students and their parents assuming that their child will get into college, they assume that "public" schools are much cheaper than private colleges, so everyone is trying to apply to public colleges. This could be false for a number of reasons. Since everyone is applying to public colleges, it's making the admissions harder, and the number of applicants they select smaller. Public schools are starting to change their requirements for aspiring applicants to apply, while private schools can actually offer more financial help in some occasions. It has also been reported that current college student credit card debit has gone up significantly since the falling economy as well. You will rack up more credit card bills for each grade that you complete. Students and parents need to do as much as possible to make sure the student and the parent can pay the least amount possible for the student to receive an outstanding college application.

References:

http://www.usatoday.com/money/perfi/credit/2009-04-12-college-credit-card-debt_N.htm

http://ezinearticles.com/?College-Admissions---How-the-Current-Economy-Will-Make-it-Harder-to-Get-into-College&id=2089832

http://www.newsweek.com/id/83159

Saving for you College Future

Posted By C. Brown

College is a big step for most young individuals and their families. Now, you have made the big choice, what college you're going to and all the new friends you're going to make, but you forgot that the economy isn't doing to well, so where are you going to get the money to go to college from? The Obama Administration is proposing to give more ad in student loans, grants and financial aid. Not only are they trying to help the students and families with the financial burdens of going to school, he is trying to persuade teachers to help the kids excel in class by giving them incentives like bonuses. Now there are many ways students and their parents can save for college, but, how nice would it be for more students to be able to receive more grants and scholarships because of their academics provided by their school/teachers. But something good to look forward to is all the options that are out their for the students. Even though it seems like tuition is rising, the family contribution is slightly staying the same and not increasing dramatically. Also, there are many websites that have helpful tips of what to do from the beginning all the way until the end to save for college, and to save as much money as possible.

References:

http://www.mortgageloan.com/college-financing-2009-tips-for-getting-aid-2913

http://blogs.wsj.com/washwire/2009/03/10/obama-outlines-education-plan/?mod=relevancy

http://www.collegeboard.com/student/pay/add-it-up/4494.html

10 ways to land more college financial aid

Post By: Dana Sunderlin

When most high school students start looking at colleges, they think about what the college offers in terms of academics and extracurriculars. But when the financial aid packages from schools come in the mail this spring, the final decision will likely be made with dollars and cents in mind.

"A good financial aid package is as important as the major, course of study and geographic location," says Bob Friedman, the university director of student finance at Yeshiva University in New York. "It comes at the end of the search, and it's absolutely a top concern."

Though financial aid officers have some latitude in how much they can offer students, don't expect that securing a better aid package will be as easy as snaring a deal on a vacation or a flat-screen TV, says Marty Carney, DeLand, Fla.-based Stetson University's director of financial aid.

"Don't come in with the expectation that financial aid offices are in the business of negotiating like used-car salesmen," he says. "In many cases, schools don't negotiate financial aid awards."

Click to Read More

Stimulus gives students financial boost

Post By: Dana Sunderlin

A jump-start for the economy means a helping hand for many new college students entering the 2009-10 school year.

Thanks to the recent passage of the 2009 American Recovery and Reinvestment Act, students from both low- and middle-income households will receive increased financial help this year.

However, the financial breaks won't last forever. One major problem with the stimulus bill is that the changes are temporary, says Lauren Asher, director of the Berkley, Calif.-based student finance think tank The Project on Student Debt.

What will happen in future years remains uncertain, Asher says. But she hopes the bill will provide a springboard for further boosts in federal financial aid.
"Students need access to even more need-based aid," she says. "But hopefully this (bill) will help families continue to invest in education so when the economy does bounce back, they're well-positioned to benefit instead of go deeper in the hole."

Click to Read More

Paying for college through loans

By Jeffrey Kam

Many high school seniors faces the most challenging problem with their parents in the month of April, how to pay for college. This year college funds have been taking hits this year due to the stock markets. Parents might not have amount saved up for college tuition. Although there is a portion of the stimulus bill from the Obama Administration are aiming to give some cash to save the mess, but it takes time. Below are two tips that will help families to pay for college.

Limit your student loans, this year freshman’s are allow to borrow up to $5000, $6,500 sophomores and $7,500 for seniors this year. Although these are small loans, parents can borrow from the federal PLUS loans for the rest of the college fees. Banks also offer loans but at a higher rates and more expensive, these are mostly for families that can afford to repay in the future, or school that are worth the extra debt.

Parents can also use some home equity or their house for helping the loan. Home equity interest rates are 5.5 percent on average, but you can find rates that is as low as 3.3% when you have a good credit score or have a good amount of home equity. These loans are tends to be cheaper than other students loans. The down side to these loans is that debt might carry over into their retirement plan.

http://www.reuters.com/article/reutersComService4/idUSTRE53L4SE20090422

http://www.collegeboard.com/student/pay/index.html

http://www.bankrate.com/news/cheap/20030528a1.asp

Resources: Money for college

Written by Amina Isakovic

We all know that Syracuse University tuition has been rising 5% per year, and with this economy and recession most of us are already struggling to pay our tuition. Maybe you have used up all of your parents college savings or you had loans from the beginning, but still have one or two more years to invest in your diploma. Where do you go for resources?

One of the first places to look at is the College Planning Network, a website that guides you through different steps of attaining money for college. It helps with student positioning, cash flow planning, and much more. Check out the website here.

Another website that I used when I was applying for colleges was College Planning, which is actually a more detailed website from the College Planning Network, but based out of the Northwest. Since I am from Seattle, I found this to be a great site when I was a senior in college. Although most of the website doesn’t pertain to Syracuse students, it help direct us to the next step and what to look out for. Click here to browse the site.

And lastly, check out our very own Syracuse University Office of Financial Aid and Scholarships office and website. Although it seems impossible sometimes to win a scholarship or receive more financial aid, you’d be surprised how much our school really wants to help. Never think that you won’t receive any more money because your parents are in a high income bracket. Always ask!

Well Hope this helps and good luck in the years to follow.

Grad School Money!!!

by D. Babbs

When applying to graduate school, one really needs to figure out whether this option is worth the time and of course, money. Just like paying for undergraduate degree, grants and fellowships, work-study, and loans are available. However there are three additional sources of financial aid that can cover the costs of grad school. Many colleges and universities offer assistantships. Assistantships provide students with a stipend to help them cover the expense of their education, while in return providing their institution with a source of labor for teaching and performing research. Individuals may consider early withdrawals from their IRAs. Withdrawals for qualified postsecondary educational expenses are not subject to the 10% penalty. Potential grad students may also want to consider having employers pay for their college expenses. Some employers offer some type of tuition reimbursement plan. This benefit is a classic win-win situation for employers, as they are essentially investing in the competency of their employees while their employees enjoy a free benefit.

Considering graduate school, of course, requires a lot of research but before you commit to a program, or an education loan, check out:

• What salaries people in your intended field are earning.
• What your monthly payments will be on your student loans.
• How quickly graduates from your school got jobs.
• What salaries graduates from your program are earning.

Like with any major decision, brainstorm the pros and cons of your decision. People with graduate degrees tend to make more money than those with just bachelor degrees, which is an advantage. Now finish the list of pros and cons.

http://www.usnews.com/articles/business/paying-for-graduate-school/2008/03/21/the-grad-school-payoff.html

http://www.petersons.com/education_planner/paying_article.asp?sponsor=2859&articleName=Paying_for_Graduate_School

http://articles.moneycentral.msn.com/Investing/HomeMortgageSavings/WillGradSchoolPayOff.aspx