“Early decision” allows a Senior to apply early (usually in November) and receive an admission decision before the college’s usual notification date (usually Spring), not to be confused with “early admission” – beginning college before high school. It is VERY important to understand the terms of an early decision. It is a binding agreement, which [...]
Check out this graphical illustration from Mint.com on the state of student debt.
In almost seven years of assisting families at College Assistance Plus, I am always amazed about how little the average college family (parent(s) and student) understand about the mechanics of the student loan system. Did you know that all federal student loans are non-collateralized and non-dischargable through bankruptcy? What about the fact that there are [...]
The average consumer has NO CONCEPT of the impact of college debt on a young person’s life and future. My wife and I experienced a tragic example of this last weekend when dining at one of our favorite restaurants.
Recently I have had the opportunity to review many “financial aid” packages from colleges across the country. I am continually amazed at the way representatives of institutions of higher learning can mis-represent and color the facts of financial aid to families.
When a family evaluates the available options of paying for college, invariably college loans appear to be the only solution. Rhetorically, one might ask if it is prudent reasoning to co-sign a loan for a 17 or 18 year old—-so they can purchase a BRAND NEW $25,000 car??
What is the number one mistake families make in considering a college education for their son or daughter? I believe it’s not taking into consideration that this is NO different than any other large consumer purchase…such as a house or a car.
My wife and I attended a wedding in Boston last summer where the bride and groom had a COMBINED TOTAL of $208,000 in college debt! Then, last evening at our favorite restaurant, our waitress casually mentioned that she was finishing up her senior year in college (with a degree in Early Childhood Education), and she has $78,000 in college debt!
