Investing Guide at Deep Blue Group Publications LLC USA Madrid Tokyo Singapore: Tips for financial assistance
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Tips for financial assistance of incoming college freshmen
Many
incoming and returning students still needs to consider about thousands of
dollars they and their families will have to pay.
It is not
too late for students to have some financial help. Some scholarships from
nonprofits or banks, and other help are still available according to the Deep Blue Group.
Scholarships
Some
scholarship programs set their deadlines no later than March or April, but some
alternatives are still available. A student can browse on free websites such as
CollegeBoard.org, Fastweb.com, Petersons.com, and StudentScholarshipSearch.com.
Each site
allows students to customize their search in a variety of ways, including
whether they are a high school senior or returning college student, their major
or other factors. All of these websites helps students to personalize their
search in a number of ways, such as whether they are a high school senior or a
returning college student, their majors, etc.
Wells Fargo,
an American multinational banking and financial
services holding company is offering $1,000 to 160 students (80 to high
school students and 80 to college students) through its College STEPS
sweepstakes program, which has an August 13 deadline.
Whereas Us.
Bank Scholarship Program offers $5,000 scholarships to five students who apply,
with a deadline of September 17.
One can find
other talent-specific scholarships, such as a $1,500 Get Girls Golfing
Scholarship award by the website MyGolfInstructor.com to one female high school
senior that plays golf competitively in high school and plans to play golf as a
freshman at a 2 or 4 year college. The application deadline is May 15.
Students
also need to search for support in their area of interest or study. For
example, the National Asphalt Pavement Association awards scholarships worth up
to $2,000 to 50-75 undergraduate and graduate students majoring in civil or
construction engineering or construction management. Deadlines vary by the
state where the student is attending college.
Tuition installment plans
Students
should also consider inquiring at their college bursar's office if they can
sign up for a tuition installment plan wherein it allows students to split their
college bills into equal monthly payments during a semester or an academic
year.
Many such
plans are generally interest-free, but a few have fees or finance charges.
Typically the fees are less than $100. This can be pretty beneficial for
families who don't have the capability of paying the bills in one go but wants
to avoid student loans.
State financing options
Students and
their parents looking for loans should search further than federal and private
loans. Some states provide their own loans with lower interest rates.
One of the
state agencies that provide financial aid to support students is the Georgia
Student Finance Commission (GSFC). It offers one of the most affordable loans
which have a fixed rate of 1% and a repayment period of fifteen years for
students signing up for the loan for the school year 2015-2016. Students must be residents of the state and
attend their college there.
Recently,
the Texas Higher Education Coordinating Board announced that Texas College
Access Loan interest rates on student loan will fall to a fixed rate of 4.5%,
down from 5.25% and a repayment period of twenty years. Students must also be
residents of Texas and attend their college there.
Tax breaks
Using the
American Opportunity Tax Credit, families can easily recover some of their expenses
that can be claimed for the upcoming fall semester when parents file their 2015
taxes.
The credit
is worth up to $2,500, based on the amount parents spend on tuition, certain
fees and course materials, such as textbooks, with the complete amount usually
given when $4,000 is paid toward those expenses during the taxable year.
Taxpayers with adjusted gross income that is greater than $90,000, or more than
$180,000 for joint filers, are unable to claim the credit.
Requesting a package
Students
whose financial conditions have changes since they filed their financial aid or
who believe that they should qualify for more need-based aid, can often appeal
the aid package they have been offered.
They've got
to provide documentation, including pay stubs or bills documenting their
expenses, to their college's financial aid officer.
However,
students with an unexpected change in finances have the best chance at getting
a more generous package. Changes includes students' parents lose their jobs or
have a pay cut, or families have immediate medical bills that are not covered
by insurance.
Certain
schools will only consider these students for an appeal. They can submit this
appeal at any point, even throughout the school year.
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