THE EXPECTED FAMILY CONTRIBUTION (EFC) UPDATES FOR THE 2020-2021 SCHOOL YEAR

THE EXPECTED FAMILY CONTRIBUTION (EFC) UPDATES FOR THE 2020-2021 SCHOOL YEAR

The Department of Education (DOE) recently announced the annual updates to the tables used in the statutory Federal Need Analysis Methodology that determines a student’s Expected Family Contribution (EFC) for the award year 2020-2021 for student financial aid programs. The Higher Education Act requires the DOE to update these tables for price inflation annually: Income Protection Allowance (Student & Parents) Adjusted Net Worth (NW) of a Business or Farm Asset Protection Allowance....

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SINGLE PREMIUM LIFE INSURANCE CAN HELP FAMILIES CUT COLLEGE TUITION, AVOID STUDENT LOANS  AND SAVE THEIR RETIREMENT

SINGLE PREMIUM LIFE INSURANCE CAN HELP FAMILIES CUT COLLEGE TUITION, AVOID STUDENT LOANS  AND SAVE THEIR RETIREMENT

Every year, students and their parents spend countless hours going through the stressful college admissions process in the hope of getting into top colleges. The results are often not pretty. As we just passed the May 1st enrollment deadline, here are a few comments of parents from a college Facebook group: "My kid is in her room crying her eyes out because we can't afford the two favorite options we have and she is likely going to "have to go to a STUPID SUNY!". "All our life we have sa....

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APPEALING THE AWARD LETTER: HOW TO ASK THE COLLEGE FOR MORE MONEY

APPEALING THE AWARD LETTER: HOW TO ASK THE COLLEGE FOR MORE MONEY

THE APPEAL PROCESS Each spring colleges attempt to entice students to their university with award letters to reduce the end cost. These award letters will show up in the families email, or mailbox between March 1 st and April 15th, depending on the college. When a college's award letter does not meet the student's financial needs, either in the total amount or type of aid, the student can appeal the award to the college. Most colleges have an appeal process that allows students to request a re....

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DESPITE HIGH COSTS, NEW POLL SHOWS MOST YOUNG ADULTS THINK A FOUR-YEAR DEGREE IS WORTH IT

DESPITE HIGH COSTS, NEW POLL SHOWS MOST YOUNG ADULTS THINK A FOUR-YEAR DEGREE IS WORTH IT

Those most likely to suffer the burden of college debt believe it’s usually worth the investment. The Hechinger Report conducted a survey in collaboration with the APM Research Lab and APM Reports’ Educate team. To view the full results of the survey, visit APM Research Lab. With the cost of college steadily rising, and student debt continuing to overwhelm millions of borrowers, it would make sense if young adults questioned the value of a bachelor’s degree. But more than half of t....

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