Student Loan Help

The Department of Education has reported that it expects the 2009-10 Free Application for Federal Student Aid (FAFSA) to be finalized in mid to late November. This is later than usual due to the many necessary changes to the FAFSA as a result of the College Cost Reduction and Access Act (CCRAA).

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What is the FAFSA” The FAFSA Financial Aid Application is the most important financial aid form you can complete. But many people either avoid it or make costly mistakes when filling it out. Our free, comprehensive FAFSA help guide, Frequently Asked Questions, and FAFSA secrets will help you maximize your financial aid and qualify for student loans.

It’s not the gun, but the person pulling the trigger that’s ultimately guilty of the crime. The same principle applies to credit cards and debt. Who’s really at fault when credit card debt gets out of control? Is it the person swiping the card or the bank that handed it to them? Or perhaps it’s neither. Maybe it all starts at home.

I receive calls and emails from angry parents asking, “Why are you offering credit cards to students? I don’t think that’s very responsible of you.” I must admit, I scratch my head when I hear this, although I do understand that parents want to safeguard their children from life’s many dangers. Being a father myself I certainly want to protect my son from any potential pitfalls, but credit cards are not one of them.

I’ll sit down with Barrett, when he is a little older, and set in motion a plan to ensure he is financially viable, and yes, having a credit card in his name is one way I plan on doing it.

I’ll serve as the co-signer on his credit card so I can monitor the purchases and view the statement activity. I will also have the credit line capped at $500-$1,000 as a precautionary measure. I want him to first learn to be responsible with a small balance before graduating into the world of auto loans or even a mortgage. Your child can gain valuable credit history at an early age and be well on their way to financial freedom with your guidance and watchful eye.

I take my responsibility as a parent seriously. I want the very best for my son as any parent does, which is why when I receive emails claming we are irresponsible for offering credit cards to students I’m bewildered. My Dad took time to explain things to me and ensure I would not get myself into financial trouble. “Pay yourself first” and “spend beneath your means,” were two common threads of wisdom he showered on me. He also eased me along in the world of credit and showed me how to make it work to my advantage.

We send our children to school so they’ll be educated and capable of making intelligent decisions in their lives, but that education begins at home. They look to us for sound advice and guidance. They put their trust in us. I am educated to the facts, and not the negative propaganda surrounding credit cards, which is why my son will be a step ahead of the rest. But it can be lonely being the lead dog. Anyone want to join our team?

Related Topics

Why Smart Students Have Credit Cards

Now that summer is over, it is time to start thinking about getting organized for the rest of the year, and yes - the holiday season…  One consideration might be private student loan consolidation.  Refinancing  your private student loan payments is a great way to lower your monthly payments and combines all your private student loans into a single manageable loan.  Consolidation is not always the best option for everyone - but it will help make life easier for many of you.  Learn more at:

http://www.studentloanconsolidator.com/private/

So I have this friend, we’ll call her Barbara, and she’s had the most difficult time ordering books online for school. She went to half.com and it took nearly 3 weeks for one of her books to arrive and the other is still not here! Now that’s not a problem if you’re ordering your book(s) on say August 1 for classes that begin September 3, but if your semester is underway or you order your book a week before class, good luck. This poor girl. Her stomach is in knots. She has a quiz tonight and hasn’t read a single page!

I would offer this bit of caution to anyone trying to save some money with online book shopping - GIVE YOURSELF A MONTH, anything less and you are setting yourself up for disaster. Granted, you could be like me and get lucky. I ordered my book on line at CampusX.com last Thursday and got it today, but I am in the minority apparently.

Saving money is great, but at what cost to you? If you save $50 on a book but get behind the 8-ball in your class is it really worth the added stress?

Be careful out there my friends. Read the fine print when ordering your book (i.e. guaranteed arrival date). If you don’t read the fine print you may not be reading any print until it is too late.

It has been reported that many Universities throughout the country are freezing 2008-2009 tuitions at last year’s levels in an effort to help make college more affordable for the nation’s middle class. Thanks guys, but you’re about a decade too late. This initiative reminds me of the movie Jurassic Park when they were discussing how much they would charge people for the amazing Dino Amusement Park attraction (before things went terribly astray). They could charge anything they wanted and they knew people would pay it. When someone asked what about the common man the lawyer replied, “We’ll have a coupon day or something.” Well, this coupon has come much too late.

Freezing tuition rates sounds good for the papers but there are a number of ways schools can still hike up the cost on you. Perhaps room-and-board costs will be increased, like was the case at Ohio State University who bumped up cost by 5.8%. Maybe out of state tuition will be increased. How much is your parking decal this year? You probably won’t even notice the few extra dollars attached to your text books. One way or another they can and will get you.

Don’t be disillusioned by newspaper headlines. Do your research. Look at the tuition, room-and-board, books, parking, meal plans, and other transportation costs (such as gas) when making your decision. These costs add up quickly and end up taking years to pay off for many.

One thing I don’t want to see is you driving frantically in a jeep with a T-Rex chasing you down looking for money. Who needs that stress? I’d rather dine on Dino burgers.