7 Steps to Making the Most of Financial Aid

7 Steps to Making the Most of Financial Aid

by | Jan 12, 2016

(BPT) – What do parents of toddlers and parents of high school students have in common? Both worry about paying for college. With the constantly rising costs of higher education, financial aid becomes more important than ever for making the dream of a college education possible. So if you’re interested in receiving financial aid, where should you start?

“The Free Application for Federal Student Aid, or FAFSA, is your gateway to money for college from both the federal and state governments for most colleges and universities,” says Mark Kantrowitz, author of “Filing the FAFSA” and “Secrets to Winning a Scholarship.” “Filing the FAFSA correctly is crucial, as it has a direct effect on how much money you receive from various types of financial aid.”

College Ave Student Loans partnered with Kantrowitz to offer top tips for maximizing your need-based financial aid for college:

1. Save strategically

When it comes to covering the cost of college, financial aid should be at the forefront of your mind, whether you’re ready to file the FAFSA right now or not. It’s best to save money for college in a parent’s name, rather than the student’s, as the FAFSA assesses money in the parent’s name at a much lower rate. Every $10,000 in student assets reduces aid eligibility by $2,000, while every $10,000 in parent assets only reduces eligibility by up to $564.

2. File early

The earlier you file the FAFSA, the better. Right now, you should file the FAFSA as soon as possible on or after Jan. 1, but starting in 2017, you can start as early as Oct. 1. Ten states award aid on a first come, first served basis, and 12 have hard deadlines in February and March. Specific schools can also have specific deadlines, and students who file early may qualify for more aid. So, as a rule of thumb, file the FAFSA in January to maximize your eligibility.

3. Minimize income in the base year

Using income and tax information from a previous year, or base year, the FAFSA calculates the financial strength of your family. Because the formula is heavily weighted on income, it’s a good idea to reduce your income in the base year. If you can, avoid realizing capital gains. If you must sell stocks, bonds or other investments, try to offset capital gains with losses. Taking retirement plan distributions during the base year will also count as income.

4. Reduce reportable assets

Minimize your money in the bank by using it to pay credit card and loan debts. This not only makes good financial planning sense, but may help you qualify for more aid.

5. Maximize the number of children in college at the same time

Something as simple as having more than one child in college can dramatically increase your changes of receiving more financial aid. While you can’t change the ages of your children, you can use this impact on aid eligibility as a deciding factor when determining whether to allow your child to skip a grade.

6. Seek generous and low-cost colleges

There are many generous colleges, including some in the Ivy League, which implement “no loans” financial aid policies. This means they replace loans with grants in the student’s need-based financial aid package. Additionally, in-state public colleges are likely to be your least expensive option, especially after subtracting gift aid, grants and scholarships.

7. Organize your documents and information

Filing the FAFSA is all about the details. Pay attention and stay organized to get the job done right, starting by filing the FAFSA for the correct year and staying on top of deadlines. Make sure to use the right Social Security Number, date or birth, marital status and correct financial information. Follow the instructions and fill out the forms as carefully as possible to get the most accurate results.

Once you receive your financial aid award letter and assess your savings, you’ll have time to consider taking out a loan. If you need it, find a simple option that works for you, such as College Ave Student Loans.

Navigating the world of financial aid can be tricky, so follow these tips to maximize your eligibility and make college a reality. For more information and resources, visit collegeavestudentloans.com.

How a Single Mom Manifested $9k in Less Than 9 Days

How a Single Mom Manifested $9k in Less Than 9 Days

by | Jan 6, 2016

How I Manifested 9k in 9Daysv7Last year I was broke and needed money to cover my rent and other expenses. I was not getting assignments on my job and other contracts had dried up. I had to request an extension on all my bills.

I was beginning to feel desperate but I knew that would do no good. Despite all the amazing things I had going on, it was not enough from a skill and talent point of view to meet my financial obligations. It seemed nothing I did was working or at least not working on time.

I decided to pray about it and keep doing what I was doing in my normal routine. I wrote blog posts. I looked for work. I sent out newsletters. I connected with family and friends. Ironically, I didn’t ask or want to ask any of them for help. Chalk it up to my stubborn pride…

My thinking was to do all I could to get the money I needed for my expenses. I stopped myself from doing extraordinary things to force the money to come. I knew I needed to relax and attract the money I wanted. I would need a miracle and despite all odds I had to believe a miracle could happen. I kept praying and applying my faith as much as possible.

A Solutions I Could Try
One day I was online and came across a free Udemy course that was about goal setting. The instructor described the technique he used to set goals and reach them in a short time. I thought about my situation and decided it would not hurt to set a money goal using this technique.

I watched the training again and did what it said step by step. The simplicity of it was too good to be true, but the consistency was important if it was to work.

This is how I manifested $9k in less than 9 days.

I decided how much I needed and the date by which I needed it. I took a notebook and wrote a future goal statement. This means I wrote my goal as if it were already fulfilled.

I wrote my goal as follows:
“On January 20, I receive $2k or better to pay my rent and bills. Yes!”

Here is how I started writing the goal:

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It was a rough start; quite disjointed but it became clearer as I kept working with it. I finally decided what I wanted and could write it with amazing clarity in my prayer goal.

This year I decided to share my secrets to manifesting not just money but a man, a new place to call home and other miracles. All of this manifested for me within a few months. I believe it would have happened sooner if I had been as diligent as I was the first time I tried it.

You Can Try it Too!
When you read about this technique you are going to do either one of two things; laugh and dismiss it or sit up and pay attention then try it yourself. Whichever choice you make you should know that you can manifest whatever you want with this surprisingly simple technique.

What are some of the things you need right now?

  • Money
  • Car
  • Medical Bills Paid
  • New home
  • A great relationship
  • A new career

Every last one of these things could be yours if you just follow the instructions my new guide!

I made it simple to read and follow the instructions. I’ve also included pictures of what I manifested and the screenshots of how I did it.

Learn more when you click the link >>> $9k in 9 Days

You have absolutely nothing to lose by trying this techniques. Order the guide to get all the details now and start manifesting more money tomorrow!