Sallie Mae How to Pay for College : A Practical Guide for Families

by Unknown

• ISBN13: 9781932662313
• ISBN10: 1932662316
• Format: Trade Paper
• Copyright: 2008-09-01
• Publisher: Supercollege, Llc

Summary

An indispensable resource for all college-bound graduates and their familiesor college students looking for ways to ease their financial burdensthis handbook for getting the most financial aid available offers guidance to completing the often arduous and lengthy application process. Insights from financial aid officers help answer such questions asHow much does college really cost? Should we borrow money to pay for college? How can the college help us pay?andHow can we make college cheaper?in this informative guide to getting the most money for college tuition, housing, books, and living expenses. Covering scholarships as well as financial aid and giving a step-by-step outline to both the paper and online FAFSA, this reference offers advice for avoiding the most common mistakes and for choosing the best package for individual families' needs at all income levels.

Author Biography

Gen Tanabe and Kelly Tanabe have been featured as college-admissions experts in numerous publications, including The New York Times, U.S. News & World Report, and USA Today. They are the authors of 501 Ways for Adult Students to Pay for College, 1001 Ways to Pay for College, Accepted! 50 Successful Business School Admission Essays, Adult Students: A Painless Guide to Going Back to College, Get Free Cash for College 2008: Secrets to Winning Scholarships, Get into Any College: Secrets of Harvard Students, and How to Write a Winning Scholarship Essay: 30 Essays That Won Over $3 Million in Scholarships. They live in Belmont, California.

Table of Contents

Acknowledgements	p. 6
Introduction	p. 15
The Sallie Mae Fund	p. 17
How Are We Going to Pay for College?	p. 19
The Myth About Paying for College	p. 20
How Is This Book Different from Others?	p. 20
Who Is Sallie Mae?	p. 23
You Are Not Alone	p. 23
How Much Does College Really Cost?	p. 25
What the Headlines Don't Tell You	p. 26
The New Reality: Few Families Pay Full Sticker Price	p. 26
Where to Find Your College's Price Tag	p. 30
Long-Term Planning	p. 31
College Education as an Investment	p. 32
How Much Financial Aid Will We Get?	p. 35
Even the 'Millionaire Next Door' Qualifies for Financial Aid	p. 35
The Financial Aid Cornucopia	p. 36
The Financial Aid Process Demystified	p. 37
The Power of the EFC	p. 40
Parent Income: The Largest Factor	p. 40
Parents' Assets	p. 47
Parent Income + Assets = Parent EFC	p. 50
Your Child's Contribution	p. 51
Your Total EFC	p. 52
Financial Need-A Moving Target	p. 53
FASFA or CSS/PROFILE?	p. 53
The Financial Aid Administrator: The Human Behind the Process	p. 54
How Do We Apply for Federal Financial Aid?	p. 63
Filling Out the FAFSA	p. 63
The FAFSA, Line by Line	p. 69
Your Information Is Subject to Verification	p. 109
The CSS/PROFILE	p. 109
How Do We Choose the Best Financial Aid Package?	p. 111
The Financial Aid Award Letter	p. 111
Evaluating the Award Letter	p. 119
What If It's Not Enough?	p. 129
Accepting the Award	p. 133
Should We Borrow Money to Pay for College?	p. 135
College: A Worthy Investment	p. 136
The Loan Life Cycle	p. 138
How to Borrow Money	p. 141
Exploring the Federal Student Loan Program	p. 144
Private Loans	p. 149
Choosing a Lender	p. 150
Other Loan Forgiveness and Scholarships for Service Programs	p. 156
Other Places to Borrow Money	p. 158
Borrowed Money to the Rescue	p. 160
How Can My Child Win a Scholarship?	p. 161
Dancing the Scholarship Two-Step	p. 161
Starting the Scholarship Hunt	p. 164
Seven Steps to Winning a Scholarship	p. 169
Scholarships for Special Groups	p. 181
Bringing Back the Money	p. 182
How Can the College Help Us Pay?	p. 183
Dollars from Your College	p. 183
Guaranteed College Scholarships	p. 186
In-State Tuition Discounts	p. 188
Tuition Discounts	p. 190
Pay for College in Installments	p. 191
Emergency Aid: Money When You Need It Most	p. 192
Don't Be Afraid to Ask for Help	p. 192
How Can My State Help?	p. 193
State Scholarships and Grants	p. 193
State Loan Repayment Programs	p. 195
State Work-Study	p. 196
State Higher Education Agencies	p. 196
What's the Best Way to Save for College?	p. 213
Never Too Late to Save	p. 213
Smart Saving Strategies	p. 214
Set Your Goal	p. 215
Reduce Expenses	p. 218
Grow Your Money	p. 223
Impact of Savings on Financial Aid	p. 235
If You're in a Time Crunch	p. 236
Can a Parent Catch a Tax Break?	p. 239
Uncle Sam Wants You-To Have More Money	p. 239
General Precautions before You Claim a Tax Break	p. 240
Tax Credits Versus Deductions	p. 240
Education Tax Deductions	p. 246
Remember Those Bonds?	p. 247
Tax-Free Scholarships and Grants	p. 247
Staying Current with Tax Changes	p. 248
How Can We Make College Cheaper?	p. 249
Spend Less Time in School	p. 252
Work and Learn Together	p. 255
Bottom Line, Be Creative	p. 256
What About the Military or Public Service?	p. 257
Soldiering Your Way to an Education	p. 257
Earning Education Money for Community Service	p. 262
Trade Your Time for College Dollars	p. 263
Financial Aid Scams	p. 265
Keeping Your Money Safe	p. 265
How to Spot a Scam	p. 266
Red Flags of a Scam	p. 270
Conclusion: The Start of a New Journey	p. 273
A Happy Ending	p. 273
Resources from Sallie Mae	p. 277
Contributors	p. 289
Glossary of Terms	p. 294
Index	p. 312
About the Authors and Sallie Mae	p. 320
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