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So, you’ve gotten into college (congrats!), filled out your FAFSA (great!) and are now staring at a financial-aid award letter, wondering what to do next (uh-oh). As the May 1 deadline to accept financial-aid offers approaches, TIME Moneyland spoke to Mark Kantrowitz, publisher of FinAid.org and Fastweb.com, to thwart many of the common misconceptions families have when it comes to financing a college education.
An alumni network at 40 universities looks to make student loans more affordable while cutting the default rate and providing lenders with a decent return.
When Texas Gov. Rick Perry called for a $10,000 bachelor’s degree in his State of the State address last year, a lot of people rolled their eyes. The Austin–American Statesman’s headline read: “Perry’s call for $10,000 bachelor’s degrees stumps educators.” But now, it’s becoming a reality.
The latest report by the Federal Reserve Bank of New York shows how dire the financial situation has become for college students with outstanding loans.
Many colleges set tuition prices with the assumption that, on average, students will pay 33% less thanks to financial aid and scholarships. But one university has decided its pricing strategies shouldn’t be comparable to car dealerships or discount department stores.
In his State of the Union address on Tuesday night, President Obama “put colleges and universities on notice.” Find a way to stop tuition from going up, he told them, or risk losing federal aid money. Following up on that charge, Obama put forward a proposal on Friday at the University of Michigan that, if [...]
President Obama said in his state of the union speech that it’s time to cut federal aid to any college that does not keep tuition increases in check. The hope is that they will then find ways to cut costs and make college more affordable. Here’s how that is likely to play out.
As states cut funding for higher education students are hit three times: higher tuition, lower financial aid and less bang for their buck.
Amid rising tuition and shrinking state funding, high schoolers and their parents can at least get a little more clarity now as they try to figure out which colleges they can afford to attend. Beginning Oct. 29, more than 7,000 schools nationwide will be required to post on their websites a net-price calculator to help [...]
The retailer’s favorite customer isn’t the bargain hunter who purchases goods on sale. The same goes for colleges nowadays. Many American universities admit that they actively recruit students who don’t need financial aid and will pay full, non-discounted tuition.
Hey, kids! Start saving your lawn-mowing or babysitting money. As the cost of higher education skyrockets, the amount parents are contributing has shrunk significantly since the pre-recession years. According to Fidelity Investments’ fifth annual College Savings Indicator, today’s parents are on track to cover only 16 percent of their kids’ college costs, down from 24 percent when [...]
