Education Loans
Next to buying a home, a college education is the largest expenditure
most parents will ever make (and perhaps the biggest expenditure
when more than one child is in the family picture). Faced with
such a daunting task, you might be inclined to ignore the problem
and wait until you are more financially settled before you start
saving. But that would be a mistake. The key to sanity in the
area of education planning is advance planning. Planning includes
budget awareness, but also consideration of funding sources in
addition to personal savings. What
expenses are included in the cost of college? In the academic world, the cost of college is generally referred
to as the cost of attendance (COA). Each college has its own COA.
The COA consists of five items: 1) Tuition and fees 2) Books and supplies 3) Room and board 4) Transportation 5) Allowable Personal expenses
Twice per year, the federal government recalculates the COA for
each college and then adjusts the figures for inflation. The government
then uses the COA figures to determine your child's particular
financial need come financial aid time. See also: Copyright © 2004 - 2010. DirectLendingSolutions.com. |