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Tag Archives: Quick Tips

FAFSA Toolkit

FAFSA Toolkit:

Join the club. File the FAFSA

This toolkit is designed to assist you in providing information on completing the FAFSA (Free Application for Federal Student Aid).

With the click of a mouse or a quick “cut and paste,” you can have your own FAFSA campaign, provided by PHEAA.

From print ads to web banners, our tools help schools and community partners increase FAFSA awareness.

How to Download: To download, right-click (control-click on Mac) and select “Save Target As…” from the pop-up menu.

https://www.pheaa.org/partner-access/fafsa-toolkit.shtml

Calculator

Use our online calculators to see how your financial choices can affect your bottom line.

  • Budget Calculator This link opens in a new window

    Doing a budget for the first time can be confusing. The budget calculator on YouCanDealWithIt.com helps simplify the process.

  • Savings Calculator This link opens in a new window

    Find out how much, and how often, you need to save to meet a specific financial goal.

  • Annuity Calculator This link opens in a new window

    Get an estimate of how your savings will grow over time.

  • Student Loan Repayment Calculator This link opens in a new window

    See how different interest rates and loan terms can affect your monthly payment.

https://www.pheaa.org/tools-resources/calculators/index.shtml

College Calendar

Get organized with College Calendar.

College Calendar is your key to tracking everything you should do to attend college and achieve your educational dreams. From choosing a school to applying for financial aid, the current calendar shows all events for high school seniors. College Calendar is powered by Trumba, an interactive web application.

https://www.pheaa.org/tools-resources/college-calendar/index.shtml

Funding for School

State Grant Program

If you’re an eligible Pennsylvania resident, apply for a Pennsylvania State Grant to get help with the cost of higher education.

 

Other Educational Aid

  • Explore the other aid programs available that provide funding for higher education.
  • Work-Study Employment

    Gain career-related, on-the-job work experience while earning money to help pay for your higher education.

  • PA-TIP

    Explore aid that helps strengthen the state’s workforce and makes higher education more affordable with the Pennsylvania Targeted Industry Program (PA-TIP).

  • Aid for Military & PA National Guard

    Service to our country may qualify you or your dependents for financial aid when you pursue higher education.

  • Loan Forgiveness

    Find out if you are eligible for loan forgiveness, which repays part or all of your educational loan debt if you fulfill certain work-related requirements in specific fields.

http://www.pheaa.org/funding-opportunities/index.shtml

Money

How to Pay for College – Scholarships, Loans, Financial Aid & the FAFSA

picture of paper moneyThere are many types of student financial aid for college, including scholarships, grants, loans and work-study and it can be earned at the federal, state or institution level. For more information on college costs and financial aid, check out the links and articles below.

 

http://www.petersons.com/college-search/how-to-pay-for-college.aspx

Money

Grants & Scholarships

The MDHE administers the grant and scholarship programs listed in the sidebar on the right.

Grants

Grant awards are usually based on financial need, do not need to be repaid and are available from the state, federal government or the college you plan to attend.

To apply for most grants, the Free Application for Federal Student Aid (FAFSA) must be completed by April 1 prior to the upcoming academic year.

Scholarships

Scholarships reward students for academic or athletic achievements, service to a local community, unique skills, special talents or even a specific career interest. Scholarships do not typically need to be repaid, but make sure you understand the scholarship requirements before you accept any money.

Other Scholarships

Other scholarships may be available through the school you are planning to attend, community groups, charitable foundations, religious organizations and other agencies. If you search the Internet for scholarships, here are some important scholarship search tips.

http://www.dhe.mo.gov/ppc/grants/

America Saves for College

Sallie Mae’s “How America Saves for College 2013” study, conducted by Ipsos, finds that despite rising college costs, fewer American families with children under age 18 save for college (50%) than did just two years ago (60%). Based on a nationally representative survey of parents of children under age 18, the study found that:

  • While nearly all parents believe college is an investment in their child’s future, only one-third have a plan to pay for college.
  • When asked to describe their feelings about saving for college, parents’ top answers were overwhelmed, annoyed, frustrated, scared, or that they don’t like thinking about it at all.
  • Among those not saving, 47 percent cite a barrier other than money. Top reasons included thinking that children would be awarded enough financial aid to cover the cost of college, children are too young or too old, uncertainty about which savings option to use, procrastination and feeling it is the child’s responsibility to save and pay for college.
  • Starting to save is most frequently prompted by major milestones such as a child’s birth (34%), starting school (24%), or learning about college costs from friends and family (20%).
  • Slightly more than one quarter (27%) of parents who are saving for college use a 529 college savings plan. However, more parents save for college using general funds or CDs (42%) and may miss out on tax incentives offered by a 529 account

Source: https://www.collegeanswer.com/saving-for-college/howamericasaves/

Helpful

Calculators

Repayment Amortization

You can estimate your payments with various interest rates and loan terms using this calculator.

Repayment Plan

You can estimate your payments under various repayment plans using this calculator.

Income-Based Repayment

This calculator can help you determine if you qualify for the Income-Based Repayment(IBR) plan. IBR is designed to make payments more affordable for borrowers.

Income Contingent Repayment

This calculator can help you determine if you qualify for the Income Contingent Repayment (ICR) plan.The Income Contingent Repayment plan is based on your Adjusted Gross Income.

https://www.mohela.com/DL/calculators/default.aspx

Are You Transferring?

Information for Transferring Students

When applying for a student loan as a transfer student, it is important to   keep in mind that if you received a student loan at a prior school, you will not   automatically receive a student loan at your new school.

If you completed the FAFSA during the   current academic year and you decide to transfer, your new school may require   you to provide a copy of your Student Aid Report   (SAR) – even if you did not receive financial aid at your previous   school.

When you transfer, remember to do the following:

At your old school: Cancel any outstanding loan   disbursements when you withdraw.

At your new school: Inform them   about the school you previously attended and provide your SAR. Additionally, if   you have not previously signed a Federal Direct Loan   MPN, you will be required to do so at your new school. All federal students   loans first disbursed on or after July 1, 2010 must be made by the federal   government.

http://www.dhe.mo.gov/ppc/studentloans/transferstudents.php