College financing

I’m Miriam  Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money

 

M  Valerie, I consider you an expert on college financing. With three sons in college at the same time, you’ve used your research to help other families as well.

 

V  While we recommend avoiding school loans at all costs, it may be a necessity.  The best rates are subsidized loans and grants offered by the Federal government.  October 1 of each year, the government opens theFree Application for Federal Student Aid  (FAFSA)  Yes, it is a tedious and time consuming form requiring your previous years tax records.  At this time a student can borrow no more than $31,000.00 of these through their entire undergraduate time.

 

This means planning, not splurging.  Borrowing more will mean using sources whose rates are higher.

PODCAST