News and Announcements
Programs at risk in 2017:
The Perkins Loan for undergraduate students (a separate loan from the more well-known William T. Ford Direct student loan)
Loan benefits for students who work in low paying public sector jobs
Rising Costs in 2017:
In July 2017, federal student loan interest rates will rise to 4.45% and federal parent loan interest rates will rise to 7%.
In May, 2017 four student loan servicers previously barred from student loan collections were reinstated:
- Navient-owned Pioneer Credit Recovery
- Enterprise Recovery System,
- National Recoveries, and
- Coast Professional
When your student loan goes into repayment, if you see that one of these companies will be in charge of your account, you may want to do some research on your options. Contact them, ask questions and get answers in writing.
My Kid Got in...How Do I Pay?
In the summer and fall, parents worry about whether their kids will get into a good college. In the winter and spring, they have the mixed emotions of My Kid Got In! and How Do I Afford This? The good news is that there is a different strategy for each type of financial condition. Don't tell your kid he cannot go until you have explored how college financing works. Work with a professional first to make sure you understand your options and how college financing processes work before you talk to your kid about which colleges on his list of acceptances your family can afford.
2017 Admissions Rush
Most parents think their rising high school senior has plenty of time to get ready for the 2017 college application process. The bad news is that they have 4-8 weeks to get it all done after Labor Day. Some college early application deadlines are October 1 and 15! If there is a rising high school senior at your house, it's time to get busy!
Who Got into College in 2016?
Admission officials continue to receive record numbers of applications from highly qualified students. More highly qualified students applying to in-state colleges has created an admissions challenge at both moderate and highly selective four-year public colleges. Similarly, low prices offered by community colleges have caused their enrollments to surge. As a result of growing opportunities for students to achieve and distinguish themselves and parent concerns about economics, the students who are admitted to highly and moderately selective colleges have higher and standardized test scores than in prior years. Students who do not fit that profile who are also admitted are those who have distinguished themselves in other ways and who have amazing essays. Students who thought they could claim moderately selective colleges as "safety" schools have been shocked and disappointed by being wait-listed in some cases. This is the era of "packaging" what you have got going for you as you apply to college...and choosing colleges wisely.
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