Average Student Loan Debt

The Average Student Loan Debt & Why It’s So High

Average student loan debt is climbing

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With college tuition and other costs rising so rapidly, it’s no surprise that the average student loan debt is also at an all-time high. Unfortunately, very few students are able to attend college and receive a degree without some form of financial assistance. Those who are able to receive scholarships and grants are well aware that they seldom cover the full cost of tuition.

Because of this, many students must apply for student loans to be able to complete their education. In certain career fields, the tuition cost is very high which tends to make the average student loan debt rise appreciably. View full post…

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How To Pay For College

How to Pay For College & Keep Debt At A Minimum

How to pay for collegeEvery parent that has a brand new baby is a target for very aggressive new parent marketing.  Free diapers, discounted formula, baby clubs, $1 life insurance policies, and college savings programs are all a part of this direct marketing on how to pay for college.

College savings programs are something that few parents concentrate on in the very beginning of their child’s new life.  Worrying about how to pay for college is pretty far from a new parent’s sleep deprived mind.

Considering that children born in today’s world can expect to pay around $100,000 for an undergraduate degree, college savings programs seems like a very smart move.

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What Is A Perkins Loan?

What Is a Perkins Loan and How Do I Get A Perkins Loan?

What is a Perkins loanWe hear the question, what is a Perkins loan quite frequently. Basically, it is a federally funded loan by the Department of Education, with the money going directly to participating colleges. It can be used for undergraduate as well as graduate level studies.

However, the primary recipients of  Perkins loans are  those students who exhibit exceptional financial need. The definition of the term, exceptional financial need, is students with less than $10,000.00 of the Expected Family Contribution . It will also include students who have received other financial assistance, and still have some remaining financial need.

All of the above is based on information submitted on the FAFSA application. Any student interested in applying for a Perkins loan needs to be aware that there is generally a limited amount of funding available.

Most of each college’s allocation of these monies is granted to students during the summer term. Exceptions are made, but it will be on a case by case basis. So if you have an interest, please apply very early.

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