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1001 Ogden Ave.
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Downers Grove, IL

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College Illinois 529 Plans On The Brink

College Illinois 529 Plans on The Brink

As Illinois colleges come closer to the breaking point from the state’s fiscal crisis, it has just been reported that the College Illinois pre-paid 529 plan is also going broke. Illinois Universities Bond Ratings Downgraded Again MCPT believes the recent downgrade on Illinois’ Bond rating will result in even less students applying for admission at in-state universities in 2018.  This will likely result in lower financial aid offers at other Midwest universities because of the lower demand for Illinois students.…

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Differential Tuition: What You Need To Know

Differential Tuition: What You Need to Know

Just When You Thought You Knew What You Are Going to Pay for College, Here’s A New Revenue Enhancer That a Growing Number of Colleges Are Using That Can Be Devastating to Your Budget Most students and their families are familiar with the idea that not all students at a school pay the same tuition. There’s been in-state and out-of-state tuition offered by public colleges and universities for years. There are also tuition discounts available to students based on the…

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How Will The Education Budget Affect College Families?

How Will the Education Budget Affect College Families?

From the screaming headlines over the past few days, it would seem that the president’s new budget on higher education will be devastating to American families who are already struggling to pay for college. So, it’s time to be objective and look at the facts.  The president’s budget, if implemented, is really not going to have that much impact on MCPT families. Here’s a brief overview: Pell Grant Funding Though the talk about reducing the Pell Grant surplus has been…

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Uncertainty Looms Over the Student Loan Forgiveness Program

Federal student loan borrowers who had believed they qualified for loan forgiveness under a particular federal income-driven repayment (IDR) program are suddenly facing a financially shaky future. The spotlight’s on the Public Service Loan Forgiveness Program due in part to a lawsuit filed by four participants: they fulfilled employment and loan repayment requirements and made employment decisions based on eventual student loan relief only to have those qualifications later reversed. What is the Public Service Loan Forgiveness Program (PSLF)? In…

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Little Financial Aid From Midwest Universities Going To Illinois Students!

Little Financial Aid from Midwest Universities going to Illinois Students!

College education costs sure aren’t what they used to be. In the past 40 years, there has been a 1,120 percent increase in tuition and associated fees for higher education which, as Bloomberg points out, is more than four times the rate of other basic consumer interests like food and medical expenses. And since those costs don’t seem to be backing down any time soon, many students and their parents are feeling the financial crunch. And the only option for some families to…

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Deep Discounts Coming On Advanced Degree Programs

Deep Discounts Coming on Advanced Degree Programs

Bernie Sanders may not have made it to the Oval Office to put his plan of free education into play, but that hasn’t stopped some major universities from heeding the call for cheaper credentials for their advanced degree programs--and saving students nearly 90% in tuition. MOOCS: A New Era of Online Learning In 2014, Georgia Tech announced its new Online Master of Science degree in Computer Science (OMS CS) for an astounding $6,600. For comparison, Georgia Tech’s traditional Master of…

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How Illinois Families Can Benefit From Higher Education Reform

How Illinois Families Can Benefit From Higher Education Reform

There is little debate that an educated society is to the benefit of all its members. While this is a fairly easy concept to get behind, the reality of higher education in America is that the betterment of society is not its only function; higher education is also a business. It is the culmination of these competing functions that have led to the student loan crisis we find ourselves in today. But what is there to do? The high price…

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Beware Of Student Loan Scams!

Beware of Student Loan Scams!

Debt, despite how essential it is for many American families trying to afford college, can be in and of itself the cause for quite a bit of stress. When you factor in the further difficulty students are having finding employment after graduation, and loan management companies that can be less than forthcoming with information that could ease your repayment burdens, the tension only grows. Wouldn't it be great if there was a trick or a quick fix to help get…

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Interpreting Your Financial Award Letters Can Be A Complicated Task

Interpreting Your Financial Award Letters Can Be a Complicated Task

Applying and subsequently gaining admission to a college or university is an exciting time for both you and your student. However, the exhilaration of an acceptance letter is invariably followed by the typically more sobering award letter; wherein you learn what will be expected of you financially. That is at least, their intended purpose. According to financial expert Mark Kantrowitz, almost 1/3 of financial aid award letters underestimate some of the costs of attendance, while other costs go unacknowledged altogether.…

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Analyzing Your College Award Letters

Analyzing your College Award Letters

College award letters are already fairly confusing. What's worse, they can often be somewhat misleading. This is especially problematic– considering major decisions are made based upon that first award letter; when the next one could be dramatically different. Before you accept a school’s award, there are a few steps you can take to better ensure you won't be left out in the cold later. Avoid the Bait and Switch What you see may not end up being what you get.…

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