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Financial Aid Award Letter: What is the difference between a Scholarship and Grant

The college financial aid award letters are starting to arrive for college-bound students.  The PayForED series on Decoding the Financial Award Letter was developed to help students and parents diffuse some of the confusion regarding the award letter.  Our series of articles provide families the essential information they need to make a better college decision [...]

Financial Aid Award Letter: What is the difference between a Scholarship and Grant2020-02-24T09:51:31-05:00

Types of Loans Available on the Award Letter

Each week a new headline comes out expressing the ongoing issue of student debt in today’s society.  There are more than 44 million borrowers who owe more than $1.59 trillion dollars in student debt. How did this happen?  With student debt growing at an alarming rate, I feel a major contributor to this problem is [...]

Types of Loans Available on the Award Letter2020-02-18T10:07:41-05:00

Top Six Items to Consider when Comparing Award Letters

PayForED believes understanding the financial outcome of the college decision should be a key decision point when comparing award letters.  We have compiled six items to consider when comparing the award letter.  Our goal is to help families review and clarify the "bottom line" or "net cost" of each college listed on their award letter. [...]

Top Six Items to Consider when Comparing Award Letters2020-02-18T09:59:57-05:00

Decoding the Financial Aid Award Letter

Parents and students often find it challenging to understand the financial aid award letters they receive from each college. PayForED has developed a program called “Decoding the Financial Aid Award Letter” and includes a combination of blog articles, videos, and webinars that will begin in February and will run through May. Our program will review [...]

Decoding the Financial Aid Award Letter2020-02-24T09:55:02-05:00

The Secure Act

The Secure Act is short for “Setting Every Community Up for Retirement Enhancement” and was signed by President Trump on December 20, 2019.  It became effective on January 1, 2020.  This act changes some of the rules for retirement planning, college planning, and student loan repayment. Due to the increase of student debt concerns, more [...]

The Secure Act2020-01-31T10:05:00-05:00

How much student loan interest is deductible?

As we approach tax season,  trying to find the best ways to deduct student loan interest should, discover the best tax filing method and review your loan repayment method should be considered along with taxes due.  The question is how much student loan interest is deductible?  One issue that many borrowers face is finding the [...]

How much student loan interest is deductible?2020-02-18T11:08:11-05:00

College Students setting New Year Resolutions

As we start 2020, many of us form new resolutions hoping to improve ourselves and our lives. Most of these resolutions focus on improving an aspect of our life or eliminating a bad habit.  For me, I determine my resolutions by reflecting on the successes and challenges I have had over the past year.  Just [...]

College Students setting New Year Resolutions2020-02-07T13:56:18-05:00

Year End College Funding and Student Loan Planning Tips

We are approaching the end of 2019 and it is a time when many people set goals for the New Year.  It is a busy time but it should include a quick review of your 2019 finances.  For families, in the thick of paying for college and student loan repayment, now is the time to [...]

Year End College Funding and Student Loan Planning Tips2020-02-18T11:17:22-05:00

5 Reasons College Planning Software Can Save Time & Money

Trying to develop a college list and evaluate the net cost of each institution can be both time consuming and frustrating.  Typically, families will need to search each college website, find the net price calculator and then re-enter the same data multiple times.  With many of the net price calculators not having the same quality [...]

5 Reasons College Planning Software Can Save Time & Money2020-02-18T10:24:36-05:00

Navigating Financial Aid & Student Debt in Divorce

I was asked the other day, “Is there really a student debt crisis, or is it a small number of recent grads complaining about their finances because they did not prepare well enough for their future?” At first, I was taken aback because I live in this world as a father of four young children [...]

Navigating Financial Aid & Student Debt in Divorce2020-02-18T11:19:10-05:00