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Educational Consultants
1001 Ogden Ave.
Suite 204
Downers Grove, IL

Financial Consultants
1717 North Naper Blvd
Suite 200
Naperville, IL

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Award Letters

Analyze Your Award Letter Before You Accept It!

Some colleges and universities are already sending out financial aid award letters for 2018/2019. That’s great news! After all, you’ve worked hard, and it’s time you reap the rewards of that hard work. But before you sign and return that award letter, it’s essential to look at it with a critical eye.   As we wrote in a previous blog, analyzing your award letters can be a complicated process, but it’s well worth your time. Is your offer clear and easy to…

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Parent Plus Loan Forgiveness

Parent Plus Loans: What You Need to Know

Why the Parent Plus Loan is not recommended by Financial Advisors Financial Advisors who have not been informed about of all the complexities in the Parent Plus Loan program have hesitated to recommend it as a way to pay for college. There are three important reasons for their reluctance: A loan given without any consideration given to income, assets, or income-to-debt ratio is going to hurt a lot of families.  Even the worst of our subprime lenders prior to the 2008 crash…

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Parent Plus Loan Forgiveness

Can Parent Plus Loan Forgiveness Rescue Some Families from a Lifetime of Debt?

Unbeknownst to many who are struggling to pay for college, the current loopholes in the Parent Plus Loan rules allow some families to receive full forgiveness on a boatload of college debt.   It’s not a viable strategy for everyone, it’s not a recommendation by any means, and there is quite a bit of controversy surrounding it, but there is a way to banish the bills from your Parent Plus Loan for good. But should you? Parent Plus Loans –…

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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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Financial Aid Appeal:  How and Why

You’ve just received your Financial Aid Award Letter from your favorite college, and it just isn’t enough.  Besides the thud of your disappointed heart hitting the floor, you hear a small voice in your head, “I’ve heard you can negotiate your college costs!!” Whoa there!  Take a step back.  That’s not quite true.  Accepting or declining a financial aid award is not like negotiating on a used car!  Prepare for a bit more courteous and considerate approach, and read on.…

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Government Proposals for Higher Education

For better or for worse, higher education is a deeply political issue. The rules and regulations can vary substantially depending on who’s in office. One side wants to increase federal aid, while the other wants to do away with it altogether and leave it to private institutions.  It can be difficult to keep up to date with it all, but it’s important to make sure that you do so. The government may not be as forthcoming with information that could…

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PSLF Public Student Loan Forgiveness

5 Common Student Loan Mistakes

My College Planning Team's Financial Aid Team presents five of the most common student loan mistakes. https://www.youtube.com/watch?v=QqXP7WTrDmk Need Help Paying for College? My College Planning Team's Financial Team can assist you with identifying the best methods to use to fund your student's college education. Contact our team for more information or click here to schedule a free consultation. My College Planning Team Serves the Following Chicagoland Areas: Arlington Heights · Aurora ⋅ Barrington ⋅ Bartlett ⋅ Batavia ⋅ Bloomington ⋅ Bolingbrook ⋅ Buffalo Grove · Carol Stream ⋅ Carpentersville · Clarendon Hills…

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Student Loans: Why Parents Shouldn’t Worry

While nobody likes debt, student loans may not be the crucible you’re expecting. Further exacerbating the issue is talk of the Student Loan Crisis currently gripping America. To understand why student loans may not be the worry you think they are, let’s explore what the current loan crisis actually is. Student Loan Crisis! The abridged version: The price of college is soaring, to compensate for this more and more families must take out exorbitant loans saddling them with mountains of debt. To make…

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Avoiding FAFSA Fraud

The financial aid process can be a daunting one. It’s often a good idea to seek out help when filing your FAFSA. How you file can be the difference between receiving or not receiving quite a bit of money. More financial aid is (ostensibly) allocated to those who express the most need. It is one of the few instances in which the worse your finances look, the better you are for it. The savvy filer will create the worst possible snapshot of their financial…

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Navigate FAFSA Verification Like a Pro

Have you been chosen for FAFSA verification? Not to worry! According to U.S. News, over one-third of FAFSA applicants are chosen for this type of audit. Some small colleges even elect to verify 100% of their applicants. As deadlines have passed and you have filed your FAFSA, now comes the time when financial aid offices may be contacting you or your student about the verification process. Essentially, it’s an audit that colleges do to verify the numbers you submitted in your original filing. While this…

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