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asset repositioning strategies

Why Families May Want To Consider Asset Repositioning Strategies To Reduce College Costs

About 20% of middle-income families will qualify for need-based aid that is higher than their merit scholarship.   It often makes sense for these families to consider asset repositioning strategies to reduce their EFC so they are able to capture the additional gift aid that may be available to them.  Upper middle-income families, especially those that will have more than one child in college at the same time, can also benefit from this strategy—especially if their student is headed to an…

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How To Save Money For College Tuition

How To Save Money For College Tuition

“And as with any investment, but especially with college savings plans, it's always best to begin putting aside money as soon as you can.” This tagline from U.S. News says it all. It doesn’t matter what you put your money into to save for college — starting as early as possible is universally the best decision you can make. But, when exactly should your financial plan begin for funding college? Ideally, it's best to start when you're thinking about having children.…

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How Much College Debt Is Too Much

How Much College Debt Is Too Much?

You have set your sights on college and think you have a plan to forge ahead, but what about possible debt from college? How much can you really afford, and how much college debt is too much?  In most cases, your major and career path affect how much debt you can afford. Usually, a student doesn’t make this decision until their sophomore year of college. However, the sooner you decide the better in order to form a strategy.  Choosing The…

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Meet Juno Student Loans (Formerly LeverEdge)

Finally, you've selected the right college to pursue your undergraduate or postgraduate degree! You worked tirelessly to get your application approved to secure a seat in your dream college and everything seems to be going perfectly. But now, another hurdle lays ahead of you - paying your own tuition and student loans. The student community often feels dejected because they have no say over the interest rates, which they will be paying for a considerable part of their lives. What…

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Financial Aid Workshop Opportunities With MCPT

Nearly every student will need to apply for financial aid at some point in their life. Whether it is because they have a parent who is not able to cover the cost of tuition, or because they are seeking out scholarships and grants to help pay for school, these types of educational funding are important. However, there are many different types of financial aid and scholarship opportunities that can be confusing. Luckily,  we offer numerous financial aid workshop opportunities throughout…

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What most parents don’t know about the 529 Plan!

Anyone can contribute Grandparents, aunts, uncles, and friends often want to help out with college expenses, frequently in the form of savings bonds. Although bonds can be saved and used for school, 529 contributions are often an option as well. Parents own 529 accounts and set their child as the beneficiary, but for most plans, anyone can make a contribution to the account. Reported as a parent asset on the FAFSA The 529 is reported on the FAFSA as a…

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Before Using That College Net Price Calculator, Read This

What is the Net Price Calculator About, Anyway?  In their quest to prepare for the costs associated with college, many families look to the Net Price Calculator on college’s websites to help them get an idea of how much they will have to pay for their child’s education. Net Price Calculators are supposed to calculate the amount that a student would pay to attend a college or university in a single academic year, considering any scholarships and grants the student…

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7 things to have ready before you file the 2022 – 2023 FAFSA

1. Know the deadlines - There are 3 of them! Federal - The FAFSA becomes available on October 1, 2021 for the college academic year 2022 - 2023 and the federal deadline is June 30, 2022. Link to the FAFSA form. College – Since colleges rely on the FAFSA to award student aid, make sure you know each individual school’s FAFSA deadline. Deadlines may be different for early action, early/regular decision, new students, and continuing students. State - Residents planning to attend an in-state…

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Do you need help with the FAFSA?– What you need to know!

The financial aid eligibility process can be tedious and difficult to navigate. Planning ahead and starting the process early is a great way to ensure that your journey is as smooth as possible. So, let’s get started with how to file FAFSA. How to File FAFSA It is in your best interest to make completing the Free Application for Federal Student Aid (FAFSA) a priority. I recommend completing it as early as October 1 your senior year, and each year…

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award letter

Should You Appeal Your Award Letter?

Award letters will soon appear in your mailbox. But, what’s next? Do you accept the offer? Do you appeal? Do you think it over for another month? Below are important things to consider before attempting to appeal your award letter: Have your circumstances changed since you filled out the FAFSA? Have you had any unexpected medical expenses, a sudden divorce, or a layoff? The Covid-19 pandemic has made this the case for many families. If there has been a sudden change in…

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