The FAFSA, Free Application for Federal Student Aid, opens October 1st for students currently in their senior year of high school. Using 2021 tax information, students and parents will complete the FAFSA for their first year of college (2023-2024). To get ready, there are a few things you can complete BEFORE October 1st. Decide Who Needs to Complete the FAFSA Traditional married couples- If you are part of a traditional family — … [Read more...]
Parent Quiz: Are You Financially Prepared for College?
Students are going back to school and parents are again thinking about the future. Between AP classes, sports, extracurricular activities, and community service kids, these days are very busy. Parents are also worried about how to pay for all of those things plus the upcoming college costs. Are you preparing your family correctly? Take this quiz to see! 1. Have you set up a 529 or college savings plan? 2. Have you calculated the future college … [Read more...]
How to File the FAFSA
8 Steps to Filling Out the FAFSA Form Need to fill out the Free Application for Federal Student Aid (FAFSA) form but don’t know where to start? I’m here to help. Let’s walk through the process step by step. 1. Create an account (FSA ID). Student: An FSA ID is a username and password you need to sign the FAFSA form online. If you don’t have an FSA ID, get an FSA ID here. It takes about 10 minutes to create an FSA ID. If this will be your … [Read more...]
Rising “Hidden Costs” for College
More and more Americans are going to college. According to data from the Department of Education National Center for Education Statistics (NCES), in 1980, 50% of high school graduates between the ages of 16 and 24 were enrolled in college; in 2016, it was 70%. In 2016, 19.3 million undergraduate students were enrolled in higher education institutions. 70% were enrolled at public schools, 23% at private non-profits schools and 7% at private … [Read more...]
Five Things to Know About Scholarships
As the cost of attending some the nation’s colleges exceed $60,000 a year, many families start looking for scholarships to help cover the cost. However, too many people don’t understand the basics of college scholarships including the source and average amounts. Fortunately, educating yourself about these facts will help you find scholarships that can significantly reduce the cost of a college education. 1. The largest source of scholarships … [Read more...]
Scholarships for National Merit Finalists at Texas Colleges
The National Merit® Scholarship Program is an academic competition for recognition and scholarships conducted with the PSAT administered every Fall to high school juniors. Of the 1.6 million entrants, only about 50,000 (3%) with the highest PSAT/NMSQT® Selection Index scores (calculated by doubling the sum of the Reading, Writing and Language, and Math Test scores) qualify for recognition in the National Merit® Scholarship Program. In … [Read more...]
10 Most Important College Financial Aid Terms
Your college education is an extremely important and expensive investment. Before you shell out thousands of dollars for an advanced education, you need to give yourself a basic education in the financial aid process. Navigating the college financial aid process can be hard enough even for the most highly educated people. So to help, I’ve put together a quick reference guide on the 12 most common financial aid terms used. 1. FAFSA (Free … [Read more...]
Is College Worth the Investment?
Is that fancy, expensive college degree really worth the cost of several years of tuition, room and board and books? Everyone knows that the cost of education is skyrocketing, but the answer is still YES! Wondering which colleges have the best ROI? Return on investment is the "financial return" from any investment of money, or in this case, the income amount above and beyond what a high school graduate would make. The investment is the cost of … [Read more...]
What You Will Actually Pay at Texas Colleges
There are two prices for every college degree: the sticker price and the net price. The sticker price is the number that most schools list in their brochures. The net price is that very same number less scholarships, grants and financial aid. It is what you actually pay. For an incoming freshman, this net price is the number that matters the most, and until recently, it was also the number that we knew the least about. This month, the … [Read more...]
3 Steps To Take Before the End of 2015 for FAFSA
Applying for financial aid will soon be less of a headache for college students and their families. Beginning with the 2017-2018 academic year, the Free Application for Federal Student Aid (FAFSA)—used to determine financial aid from the government as well as colleges—can be filed three months earlier, or as early as October 1, nearly a year before a student would start classes the following fall. This change in timing will allow completed tax … [Read more...]
