Paying for College

The already complicated college process just became more challenging for families in the wake of COVID-19. Campus visits are cancelled, ACT test dates are postponed and more changes every day. How does a family conduct a search and choose a college in this new environment? College Inside Track is here to help and below is…

In the wake of the COVID-19 pandemic, the government has suspended all federal student loan payments through September 30, 2020. Here’s what you need to know: No interest will accrue on your federal student loans through Sept. 30, 2020. Your federal student loan balance doesn’t change unless you make payments, meaning…

FAFSA says how much you can pay for college, but it’s often wrong – The NY Times explains what the FAFSA says you can afford is usually less than you will end up paying, which comes as a big surprise to many families. This is an important read as you plan how to make the…

While the rising cost is certainly a factor, it is often the decisions that families themselves make that cause them to unnecessarily pay more for college than they should (and potentially increase student debt). As hard as it might be, there are instances where a family needs to recognize a college-related decision will cost them…

Major change to 529 Plans – The SECURE Act signed at the end of last year includes a major change that now allows 529 Plan dollars to be used to pay for student loans. However, certain states need to conform their tax laws to the federal one, otherwise folks in those states may face…

In our work of helping families navigate the college process. it continually shocks me how few have not had the “money talk,” either between the parents and/or between parents and child. Given the cost of college today, this is highly irresponsible at best, if not downright dangerous. I haven’t heard of many married couples not…

College savings cheat sheet – Financial aid guru Mark Kantrowitz shares some tremendous advice with Katie Couric on how parents can best approach the financial aspect of college. Among my favorites: Parents overestimate eligibility for merit aid, underestimate eligibility for need-based aid, and aren’t aware that most colleges meet financial need with loans, not…

The Setting Every Community Up for Retirement (SECURE) Act signed into law at the end of 2019 includes two significant college planning changes that families need to know about. 529 Plans can now be used to repay student loans Previously, 529 Plans could be used for qualified college expenses and $10,000 annually of…

Need-to-know financial aid info – Mycollegeguide.org has a handy summary of everything your family needs to know about financial aid. Insightful questions for an admission officer – It’s hard to make the decision of what college to attend. Use this helpful list of questions from Road2College to ask the admission office at each of the…

1 Choose a college that is a fit academically, socially AND financially. And a financial fit inherently means that neither the student nor the parents are over-borrowing (see #2). 2 Borrow an amount no greater than the average first-year salary in your chosen field. If total student loan debt is less than your starting salary,…

Coronavirus College Resources For Families

Federal Student Loan Payments Suspended Through Sept. 30

Insider tips for the week of March 2, 2020

4 mistakes families make that increase the cost of college

Insider tips for the week of February 3, 2020

3 tips for having the college money talk

2 valuable college planning changes in the SECURE Act

Insider tips for the week of Dec. 9, 2019

5 Nuggets of College Planning Wisdom