Financial Matters: Pitfalls to Avoid in Your First Year
For many students, the first year of college is their first real taste of financial independence. While this is an exciting time, it’s also a period where financial missteps can have long-lasting consequences. Parents and students should work together to develop smart money habits from the start. Here are some common financial pitfalls and how […]
Financial Matters: Asking for More Merit Aid
Your teen has just received their college acceptance letters, and one of those schools is their first-choice college—exciting news! But then, the reality sets in: the merit aid awarded is lower than expected, and now that “favorite college” feels like it may be financially out of reach. What do you do next? The good news […]
Financial Matters: Understanding Your 529 Savings Plan
As college costs continue to rise, parents of college-bound students are increasingly turning to 529 plans as a strategic way to save for their children’s education. Named after Section 529 of the Internal Revenue Code, these tax-advantaged savings accounts offer a powerful combination of financial benefits and flexibility that can make a significant difference in […]
Financial Matters: What Parents of high School Seniors Need to Know
This year’s financial aid landscape brings changes that parents of college-bound seniors should understand. The traditional financial aid timeline has shifted, and being prepared for these changes will help your family navigate the process more effectively. This year’s Free Application for Federal Student Aid (FAFSA) launched in December 2024, rather than its usual October opening. […]
Financial Matters: Return on Investment
Deciding on the “right” college can feel overwhelming. There’s so much to think about: location, academic programs, extracurricular opportunities, career preparation, but all of that is secondary if a college isn’t affordable. Just like when making a big purchase, such as a car or house, families need to weigh the costs of college against the […]
Financial Matters: Avoiding Financial Aid and FAFSA Mistakes
As your high schooler prepares for college, navigating financial aid can feel confusing. Here’s a guide to avoid common financial aid pitfalls. One of the biggest mistakes parents make is missing financial aid deadlines. The Free Application for Federal Student Aid (FAFSA) opens on December 1st this year, but many families wait too long to […]
Financial Matters: Keeping Application Costs in Check
Applying to college can be a costly proposition. According to U.S. News and World Report (2022), college application fees can range from $50-$100 per college. Add in the cost of standardized test score reports and, at some high schools, fees for transcript requests, and the costs can quickly add up. For example, a student applying […]
Financial Matters: ED/EA & Financial Aid
Navigating the college application process can be stressful, especially when considering how financial aid factors into different application strategies. Early Decision (ED) and Early Action (EA) are two popular options, each with distinct financial aid implications. Early Decision (ED) is a binding admission plan. Students who apply ED agree to attend the college if accepted […]
Financial Matters: Payment Options For College
Students who will begin college in the fall semester should receive their tuition bill a few months before the term begins. If you need more information, contact the bursar’s office or student financial services. Check the bill carefully to make sure you (if applicable) received awarded financial aid. Some schools require you to accept the […]
Financial Matters: The Hidden Costs of College
College financial aid packages should start arriving this month, but when you begin to compare your out-of-pocket costs, be sure to include expenses that go beyond room, board, and tuition. These costs may vary from one institution to another, but they add up quickly. Books– According to the College Board (2021-2022 academic year), full-time undergraduates […]