Pros and Cons of a 529 Savings Plan

The “list of pros and cons” is a classic decision-making technique often used to help whittle down two options to one. For many parents, the decisions surrounding their child’s higher education are some of the most crucial they will ever make. Why not turn to the old standard, the pros-and-cons list, to try to figure …

The Two Kinds of Scholarships

When financial aid is concerned, it’s important to explore every opportunity available—and thoroughly! Scholarships are, perhaps, the most ideal way to pay for a college education. Since scholarships fall under the category of “gift-aid” they do not have to be paid back, unlike student loans. So essentially, scholarships are free money. There are two major …

Common Mistakes Students Make On Their FAFSA Application

Completing the Free Application for Federal Student Aid (FAFSA) gives you access to different types of financial aid, including grants, scholarships and loans. Making a mistake on your FAFSA application can cost you money. Unfortunately, it’s not uncommon. Every year, hundreds of students lose out on financial aid that they are entitled to because of …

The Difference Between Grants and Scholarships

In your search for financial aid, you’ve likely come across the phrase “grants and scholarships”. And while you may know that both terms mean you don’t have to pay the money back, you might be wondering: What’s the difference? Grants are usually funded by the state or federal government. The most common one is the …

Financial Aid Timeline: Know What to Do and When

The financial aid process can be a bit daunting. Different forms of aid have different formalities, different eligibility requirements, and different deadlines too. The key to benefiting from the various financial aid schemes is to understand and keep track of the requirements and deadlines. Financial aid is typically distributed on a first come first served …