Frequently Asked Questions

Frequently Asked Questions2019-02-06T10:44:17+00:00

PayForED App

PayForED App is $6.00 and has a 10 college saved limit. The subscription length is one year from the date of purchase.

PayForED software system is easy to use.  After purchasing the software, you will receive a confirmation email which will include a link to register the software. The email address used to make the purchase must be used to register the software. If the software purchase is a gift, the email address of the recipient must be used when making the purchase. The recipient will then receive the registration email and use their email address to register the software. Depending on email security settings, it’s possible for the email to be directed to a junk or spam folder.

The college funding and financial aid process is very complicated.  PayForED App is organized to simplify this process by putting all the financial information in one place for families. The PayForED App is an easy 5 step process. Individuals no longer need to go to multiple school websites and re-key in all of the same information.  In addition, comparisons are done automatically when you are creating your college list and trying to select the right college.

The biggest advantage of our solution is the four-year award letter college analysis.  Within the PayForED App is an award letter section where families can input each award letter that is received by their child. Once inputted, the system calculates a customized four-year financial outcome for each college.  Currently, colleges do not provide this information to families on a four-year projection.

PayForED does not sell or share any information. A crucial security aspect of the PayForED software is that it does not require any of your personal information such as names, full birthdates, social security numbers or full addresses.  For purposes of calculation, PayForED does require that we do collect month and year of birth, zip code and state residence, grades of the children and your email.

Included in the PayForED App are HELP screens to assist in navigating the input and output screen details. There are field definitions that help the user better understand the process. An individual can also visit our blog section which includes information about the entire college funding and student loan process.

The PayForED App generates its financial aid estimates and college expenses based on data obtained from college’s websites, direct contact with college administrations, federal government websites and federal government documents.

Our data is updated 3 times a year. The cost data is updated in early August. Most other system’s cost data is not updated until sometime in October. By having the cost data available in August, families can determine where they should apply based on affordability and save money on the application fees.

Yes, you can. The PayForED App lets families compare up to 10 schools.  If a family wants to compare more than 10 schools then a user can upgrade to the College Cost Analyzer. The College Cost Analyzer gives you the ability to compare an unlimited amount of colleges and includes other upgrades direct specifically to the rising high school junior and high school senior.

One of the great aspects of this solution is that it enables families to input their own personal budget.   Our system allows parents to enter a starting college fund, if it exists, and an annual amount they can contribute.  The system then generates how your funds will be utilized based on the school’s historical financial aid packaging or actual financial aid received.  Our analysis then estimates the additional resources needed to attend that college by year with the various loan options to consider.

No, the PayForED App does not have a merit search engine in the software but the PayForED website does have a scholarship search which has over 3.5 million scholarships worth more than $18 billion dollars. Go to the resource section to start the scholarship search.

The PayForED App does not include merit aid numbers in the estimated calculations due to the subjectivity of the process.  The fifth section of the App is the Award Letter Comparison section. This function allows families to put in the actual award amount and then recalculates the four-year net cost based on the actual award sent by the college.  It will consider changes in your financial aid position and allow you to make comparisons in one place. Our analysis properly analyzes the difference between Merit and Need-Based Scholarships. Many college award letters do not properly explain the difference.

PayForED does have a scholarship search engine on our website for the student and family to explore.

College Cost Analyzer

PayForED College Cost Analyzer software is $59.95 and is available for one year based on the purchase date.

The college funding and financial aid process is very complicated.  PayForED organizes your financial information in one place. As a result, it simplifies the FAFSA, college list building and financial award comparison process. Parents and students no longer need to go to multiple school websites and re-key in all of the same information.  In addition, comparisons are done automatically when you are creating your college list and trying to select the right college.

The biggest advantage of this tool is the four-year college analysis.  This is done at both the listing building and award letter time-frame. This is especially important at the award letter period where families can input each award letter that is received by their child. Once inputted the system calculates a customized four-year financial outcome for each college.  Currently, colleges do not provide this information to families on a four-year projection. A projection of student’s debt at graduation is calculated for each college based on the actual award details.

PayForED does not sell or share any information. A crucial security aspect of the PayForED software is that it does not require any of your personal information such as names, full birth dates, social security numbers or full addresses.  For purposes of calculation, PayForED does require that we do collect month and year of birth, zip code and state residence, grades of the children and your email.

PayForED software system is easy to use.  After purchasing the software, you will receive a confirmation email which will include a link to register the software. The email address used to make the purchase must be used to register the software. If the software purchase is a gift, the email address of the recipient must be used when making the purchase. The recipient will then receive the registration email and use their email address to register the software. Depending on a person’s email security settings, it’s possible for the email could be directed to a junk or spam folder.

Included in the College Cost Analyzer software there are help videos, coaching video and HELP screens to assist in navigating the input and outputs screen details. There are also College Coaching videos that explain specific topics pertinent to paying for college which will further explain the input and output details.  An individual can also visit our blog section which includes information about the entire college funding and student loan process.

The College Cost Analyzer generates its financial aid estimates and college expenses based on data obtained from college’s websites, direct contact with college administrations, federal government websites and federal government documents.

We save you time, since our data is updated 3 times a year. Our cost data is updated in early August. Most other system’s cost data is not updated until sometime in October. By having the cost data available in August, families can determine where they should apply based on affordability and save money on the application fees.

This PayForED solution lets families compare up to 20 schools at one time.  Schools can be added and deleted as schools are viewed and budgets change.

A net price calculator is a tool that each college or university needs to have on their website. It generates the net price for attending a college for one year.  It allows prospective students to enter their financial information to get their results.  The quality of these calculators will vary greatly by college.  The student will also need to re-enter this information on each college site.  One significant advantage of the College Cost Analyzer is that you enter your financial information only once and can compare multiple schools in one place.  This will save you time and money since we also provide a four-year analysis versus a one-year projection.

The net price calculators provided by a college only offer estimates on one-year projections of net cost.  The College Cost Analyzer offers families a four-year estimated cost projection with the ability to compare multiple colleges on the same platform in side by side analysis.  This is especially helpful if you will have multiple children in college at the same time. Your family timeline could have a significant impact on your financial aid and decision.

Our solution also projects your debt at graduation based on a family’s budget. We are able to calculate various borrowing options using the federal loans, private student loans and home equity loans. This is done at both the list building stage and award letter comparison stage. With this information we believe better and informed decision will be made.

One of the great aspects of this solution is that it enables families to input their own personal budget.   Our system allows parents to enter a starting college fund, if it exists, and an annual amount they can contribute.  The system then generates how your funds will be utilized based on the school’s historical financial aid packaging or actual financial aid received.  Our analysis then estimates the additional resources needed to attend that college by year with the various loan options to consider.

No, the College Cost Analyzer does not have a merit search engine in the software but the PayForED website does have a scholarship search which has over 3.5 million scholarships worth more than $18 billion dollars. Go to the resource section of our website to start the scholarship search.

The PayForED College Cost Analyzer does not include merit aid numbers in the estimated calculations due to the subjectivity of the process.  In the Award Letter Comparison section found in the College Cost Analyzer will allow families to put in the actual award amount and then recalculates the four-year net cost based on the actual award sent by the college.  It will consider changes in your financial aid position and allow you to make comparisons in one place. Our analysis properly analyzes the difference between Merit and Need-Based Scholarships. Many college award letters do not properly explain the difference.

PayForED does have a scholarship search engine on our website for the student and family to explore.

There is a help desk associated with the PayforED solution.  Please go to support@PayForED.com and enter the missing college or university.  We will try to add the school to our list, but not all schools provide the data needed for our system to complete the analysis. At this time our data focus is on four-year college programs.

If you have any questions or problems simply go to support@PayforED.com and type in your question.  You will receive an email response within 24 hours.

Please go to the resource section of this website and click “Find an Advisor”. Parents can find a list of College Funding and Student Loan Advisors (CFSLA). The CFSLA advisor has been trained to help families with saving for college, planning for college, paying for college, student loans, student loan repayment and forgiveness. The CFSLA must act in a fiduciary manner which means that must act in your best interest.

In-College Payer

PayForED In-College Payer software is $59.95 and is available for one year based on the purchase date.

PayForED software system is easy to use.  After purchasing the software, you will receive a confirmation email which will include a link to register the software. The email address used to make the purchase must be used to register the software. If the software purchase is a gift, the email address of the recipient must be used when making the purchase. The recipient will then receive the registration email and use their email address to register the software. Depending on a person’s email security settings, it’s possible for the email could be directed to a junk or spam folder.

If you have any questions or problems simply go to support@PayforED.com and type in your question.  You will receive an email response within 24 hours.

The system has an easy import function to gather your federal loan through the National Student Loan Data System (NSLDS). The borrower’s Private or Parent PLUS loan will need to be entered manually. Our unique calculator then uses the federal loan limits, college’s historical gifting policy and your cash flow to project the debt at graduation. The system displays the incurred debt, projected debt to graduation and the various loan repayment options based on the debt structure.

We help the student and parent envision an outcome and have better transparency to the various financial decision they are making. The best way to save money is to graduate on time. The In College Payer helps the student stay on track. With the college transfer rate at 35% and the college major change at 50%, graduating on time is much harder to do. With the PayForEd approach you can see the financial consequence of your decisions.

Currently, a process to gather all non-federal loan information does not exist. At this time, you will have to manually input all non-student federal loan information. Once it is in our system it can be updated periodically as factors in your life change. The system will combine the incurred debt and the student’s targeted graduation date to generate a projected total debt structure. This enables the family to see the financial outcome.

Included in the In-College Cost Payer software there are HELP screens to assist in navigating the input and outputs screen details. There are also College Coaching videos that explain specific topics pertinent to paying for college which will further explain the input and output details.  An individual can also visit our blog section and video library which includes information about the entire college funding and student loan process.

As stated above, the HELP screens, and the Coaching videos help you to understand the information needed to make educated college funding and student loan decisions. This includes information about the 9 different federal repayment methods. Parents and students must realize that their debt structure will drive their loan repayment options.

The idea of projecting the salary is to make the student think about both their major and possible job opportunities. The In-College Payer helps students plan for their future. Engaging the student in a discussion of future salaries allows the individual to understand projected income to debt decisions. It also engages the student in majors, job skills and job environment. Our goal is to get the individual to understand their projected debt at graduation so that the student will make better decisions while in college. Students should visit the career center at their college to find out more information about majors and careers.

The system is extremely flexible. You are able to change projected income, cash flow and graduation dates. The primary focus of the system is to help students create a projection of financial future at graduation.

PayForED does not sell or share any information. A crucial security aspect of the PayForED software is that it does not require any of your personal information such as names, full birth dates, social security numbers or full addresses.  For purposes of calculation, PayForED does require that we do collect month and year of birth, zip code and state residence, grades of the children and your email.

Please go to the resource section of this website and click “Find an Advisor.” Parents can find a list of College Funding and Student Loan Advisors (CFSLA). The CFSLA advisor has been trained to help families with saving for college, planning for college, paying for college, student loans, student loan repayment and forgiveness. The CFSLA must act in a fiduciary manner which means that must act in your best interest.

Student Loan Repayer

PayForED College Cost Repayer software is $59.95 and is available for one year based on the purchase date.

PayForED software system is easy to use.  After purchasing the software, you will receive a confirmation email which will include a link to register the software. The email address used to make the purchase must be used to register the software. If the software purchase is a gift, the email address of the recipient must be used when making the purchase. The recipient will then receive the registration email and use their email address to register the software. Depending on email security settings, it’s possible for the email to be directed to a junk or spam folder.

Yes, the solution calculates the impact of various tax filing methods for engaged and married couples with student loan debt. We are not tax advisors and these are estimations. We recommend that you have your taxes analyzed by a tax professional before a decision is made.

The PayForED Repayer can calculate all 126 repayment options that a married couple will face in making the best repayment decision.

Yes, our solution helps each person understand the financial options they have by staying with the federal repayment options or refinancing. It also calculates the consequence of this when one spouse decides to refinance since this may impact your tax filing options, especially if one spouse is using an Income Driven Repayment method.

Yes, there are nine different options. The PayForED solution explains the long term financial risk a person may have by selecting the lowest payment. Many times, the lowest payment will not pay the interest being charged and will result in the loan balance increasing. This is called negative amortization and it is common in the Income Driven Repayment (IDR) methods. The IDR methods are often recommended by the loan servicers since it helps keep the borrower current.

Yes, there are only certain repayment methods that qualify for Public Service Loan Forgiveness (PSLF). It becomes even more confusing for married couples. The PayForED Repayment identifies the repayment methods along with the tax filing options to consider to minimize payment and maximize the forgiveness.

Included in the Student Loan Repayer software, there are HELP screens and field definition to assist in navigating the input and outputs screen details. There are also College Coaching videos that explain specific topics pertinent to paying for college which will further explain the input and output details.  An individual can also visit our blog section includes information about the student loan repayment process.

No, the Student Loan Repayer solution easily imports federal student loans through the NSLDS (National Student Loan Data System).

The FSA ID is the borrower’s username and the password needed to access the federal student aid websites, such as fafsa.gov and StudentLoans.gov. The Student Loan Repayer easily imports your federal loans, but an additional step is needed to get this information. The borrower will need to go to the government website and use their FSA ID to pull up your federal loans. This software does not have access to your FSA ID for security reasons. If you have forgotten your FSA ID, Click here to get that the site.

https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid#forgot

Currently, a process to gather all non-federal loan information does not exist. At this time, you will have to manually input all non-student federal loan information. Remember, if you are a student whose parents have Parent Plus loans, these loans will not downloaded under the student’s FSA ID. Parent Plus Loans will need to be entered into the Private Loan section if they will be your responsibility.

If you have any questions or problems simply go to support@PayforED.com and type in your question.  You will receive an email response within 24 hours.

Please go to the resource section of this website and click “Find an Advisor”. Parents can find a list of College Funding and Student Loan Advisors (CFSLA). The CFSLA advisor has been trained to help families with saving for college, planning for college, paying for college, student loans, student loan repayment and forgiveness. The CFSLA must act in a fiduciary manner which means that must act in your best interest.