Should You Take Out a Private Student Loan for Your Child’s College Education?

Posted by IPFW Admissions Team on 8/4/16 7:30 AM

Student loan applicationYour child’s graduation from high school and transition toward college is one of the most exciting milestones of their life—for both of you.

At least until that first bill shows up.

Deciphering the financial aid award letter is one thing , but figuring out how much you’ll have to pay is another as the award doesn’t cover the full amount. What happens if your family doesn’t have the ability to pay the remaining amount?

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Topics: Financial Aid, Student Loans, Scholarships

Read the Fine Print: Is Your Financial Aid Good for All Four Years?

Posted by IPFW Admissions Team on 5/12/16 8:00 AM

Financial aid packages are an important source of funding, and for many families, a necessary one. Some students (especially first generation students) and families may be unfamiliar with how financial aid awards work, and that there are a few important “fine print” items to look out for in order to better understand how your award works.

Let’s get started.

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Topics: Financial Aid, Student Loans, Scholarships

What to Look Out For With Private Student Loans

Posted by IPFW Admissions Team on 11/19/15 8:00 AM

If you’re like most high school students, the most pressing financial decision you’ve have to make is whether to fill up the gas tank or splurge on that new iPhone accessory. But then you applied to college, and once the excitement of acceptance letters wore off, you found yourself faced with one of the biggest financial decisions of your life:

“How am I going to pay for college?”

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Topics: Financial Aid, Student Loans

Subsidized vs. Unsubsidized Student Loans: Which Costs More?

Posted by IPFW Admissions Team on 11/10/15 8:00 AM

If you’ve just received your financial aid offer from your college, you might see two different categories of student loan: subsidized and unsubsidized. Great. As if student loans weren’t complicated enough, now you’re finding out there are two different kinds?!

What does it mean to “subsidize” a loan? Who is doing the subsidizing? And, most importantly, how much is this going to cost you?

Don’t panic. We’re here to help you make sense of the difference between subsidized and unsubsidized student loan.

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Topics: Financial Aid, Student Loans

How Much in Student Loans is Too Much?

Posted by IPFW Admissions Team on 10/27/15 8:00 AM

Short answer: it depends.

Long answer: Everyone’s financial situation is different. Whether you’re receiving a robust financial aid package, getting help from your family, receiving a scholarship, or working summers to pay off your textbooks, only you can make the decision about how much extra help you need.

So while we can’t answer the question of how much in student loans is too much, we can try to offer some advice on how to think critically about your loan offers before you accept them.

In the end, only you can decide when to say “when.”

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Topics: Financial Aid, Student Loans

Applying for Student Loans: What to Expect Step-by-Step

Posted by IPFW Admissions Team on 2/26/15 11:33 AM

Although your financial aid package will likely consist of many types of financial assistance—grants, scholarships, Work-Study funding—chances are you’ll end up needing to take out a loan. It’s more common than you might think: 7 out of every 10 college seniors who graduated from public and nonprofit colleges in 2013 had student loan debt.

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Topics: Financial Aid, Student Loans


 

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