During your first two weeks of school, you didn’t think you would survive the semester. You’d decided to attend one of the largest universities in the country because it offered a strong alumni network, and incredible undergraduate research opportunities. Also, it didn’t hurt that palm trees lined the footpaths between the dorms and classrooms. While the warm breeze, endless sun, and campus dining options had surpassed your expectations, you felt insignificant and nameless among the student masses that filled your lecture halls. Moreover, though you met people at parties, you hadn’t made any real friends who shared your interests. Then, in freshman English Composition, you were assigned to a work group with G, the smiley girl who lived down the […]

Recently I met with a family regarding financial aid for the coming year for their daughter, who was going into her first year in college in the fall. The financial aid process can be confusing, to say the least. This particular family, on their most recent tax return, had an Adjusted Gross Income of over $200,000. The student hadn’t received very much of a financial aid offer, and the parents were incredulous that the school wanted them to contribute over $25,000 for their student’s first year of school. The parents maintained that they simply did not have the money the school thought they should be able to contribute. With that situation in mind, I thought it would be a smart […]

When next winter rolls around, we’ll have a more in depth look at the Financial Aid process and how to best navigate it. For now, however, since most students have received their financial aid awards, we’re going to talk a little about making sure your bill for the coming year is covered. Some students will find, for whatever reason, that the amount of aid they have been awarded will not cover the whole cost of the coming year. If that’s the case, private loans are one option available for students to pay their bill for the year. Because private loans tend to have higher interest rates than federal loans, they are best viewed as a last resort, only when all […]