With the cost of college rising and parents looking for a college that doesn’t cause their students to fall into debt after graduation, where do you go to find the data you need? Where do you find a college with the best bang for your college buck?

CollegeMeasures.org

This site describes itself as “committed to informing and improving the decision-making process for students, parents, and policy makers. By making available key data through websites like our 2-year and 4-year college data tools, we enable users to make smarter decisions, and in doing so help create a more efficient, productive and effective higher education system.” And it certainly delivers.

Upon further investigation, parents can gather data for both 2-year and 4-year colleges. Once you access the data tabs, you can view performance by college, by state, by rank and nationally. The comparison tools are excellent and easy to use. When you choose to examine by college, you can view the college’s performance scorecard listing several different criteria: strategic measures, graduation rate, retention rate, cost per student, cost per degree, cost of attrition, student loan default rates, and my favorite debt to earnings ratio.

With the debt to earnings ratio you can determine if the cost of degree is worth the investment based on earnings after graduation.

COLLEGEdata.com

COLLEGEdata.com tags itself as the online college advisor; and the site certainly lives up to its name. The site offers the following college helps categories:

• Scholarship Finder
• Admissions Tracker
• Net Price Calculator
• EFC Calculator
• College Match
• College Chances

Not only is the site a clearinghouse for college data, using it helps parents find the most generous colleges by using the college match tool. This tool allows you to choose colleges under the “Financial Friendliness” category and see statistics for the financial need met (0-100%); and merit aid scholarship percentages, giving you the option to include only students with financial need. This information will help you make information financial choices about the money you spend on the education.

As with all college search tools, you can filter the information by state, gender, major, graduation rates, freshman satisfaction, entrance difficulty, and on this one, sports offered. If you need to find a college in your state or region, that meets a substantial amount of need, this is the tool to use.

These two tools can help you weigh the financial investment you will make towards your college-bound teen’s education. With college costs skyrocketing, it’s becoming more and more critical to help their student graduate debt free.

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Yes. It’s that time in the college prep process–FAFSA time! If you’ve been reading my blog, you know that you can’t ignore the FAFSA, there are good reasons to file, and who fills out the FAFSA. As far as I’m concerned, your application is not complete without this financial aid form.

The Free Application for Federal Student Aid (FAFSA) became publicly available January 1st. For those new to the process, it is an annual form that is completed by current and prospective college students to determine eligibility for federal financial aid.

While filing your FAFSA is considered the Step #1 for those in need of financial aid, it can often seem like an intimidating task to undertake.  One of the biggest hurdles to approaching this form is understanding what materials are needed beforehand to prepare for filing.

Taking a deeper look, Zinch gives a list of the absolute must-haves to file the FAFSA.

The most important advice I can give parents is: don’t ignore the FAFSA! Many parents are misinformed when it comes to the Free Application for Federal Student Aid (FAFSA). They believe that they make too much money to qualify for any kind of financial aid—and they decide not to file. That is the worst mistake you can make. I encourage every family of a college-bound senior complete the FAFSA (and complete it before February 1).

Why should you complete the FAFSA?

College is expensive and it’s a chance for you to grab yourself a piece of the financial aid pie.

Why should you complete it by February 1st?

The early bird gets the worm when it comes to financial aid. If you want your piece of the pie, you have to be the first in line. Once financial aid packages are disbursed, the money is gone and that means your student’s financial aid package will be composed of student loans only. If your form is filed and completed once the decision for admission is made it puts your student in a good position to receive some of those funds.

What can the FAFSA do for you and your college-bound teen?

There could be federal, state and college funds available. If you don’t complete the FAFSA, you won’t be able to get any of them. Even if your family income is high and you might not qualify for federal aid in the form of grants, your student might be eligible for state scholarships and merit-aid awards from the college. Additionally, any federally subsidized loans, including parent loans, require you to complete the FAFSA.

What should you do if you haven’t filed your taxes before FAFSA filing?

It’s simple. Use last year’s tax figures and update once you file. Don’t wait to file the FAFSA until after you file your taxes.

Why do some people tell you that you won’t qualify for financial aid?

The easy answer is they are misinformed. Remember there are all kinds of financial aid. While not everyone will qualify for federal grants, most students receive some form of financial aid. If you don’t apply your student will not be one of them.

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As students begin applying to colleges, and juniors begin narrowing down their college choices, consider that there are many options available that allow your student to attend college for free (or almost free), excluding expenses like books, fees, and possibly room and board. But free tuition is nothing to scoff at. Many of these colleges cost upwards of $100,000 for four years.

Here are 10 ways your student might be able to attend college for free;

1. Get good grades and score well on the SAT

Many colleges offer free rides to valedictorians, top 10 percent, and other academic distinctions. High SAT scores help as well—where many colleges offer merit-based free tuition.

Students at Macaulay Honors College, part of the City University of New York system, don’t stress about the high price of tuition. That’s because theirs is free. At Macaulay and a handful of other service academies, work colleges, single-subject schools and conservatories, every student receives a full merit-based tuition scholarship for all four years. Macaulay students also receive a laptop and $7,500 in “opportunities funds” to pursue research, service experiences, study abroad programs and internships.

2. Be a PSAT Merit finalist

Scoring high enough on the PSAT to become a Scholar, a Finalist or a Semi-Finalist can equal big money at some schools-public and private. That means your student may only need to score high enough to make it to the last round; he or she doesn’t even have to be the last one standing.

This list of colleges was compiled a few years ago and may have some changes; but use it as a guide when you are researching the colleges.

3. Win Scholarships

With work and a tested method (How 2 Win Scholarships) your student can cruise into college with multiple scholarships. Start early with the research, register on scholarship search sites, and look locally.

4. Work while you attend

There are several colleges that let you work while you attend and pay your tuition. In exchange for free tuition, students at the College of the Ozarks work on campus 15 hours a week. Possible jobs at this Missouri college include dairy farming and custodial work.

5. Pursue a specific career path

Colleges offer free tuition to students who pursue specific career paths or areas of interest. For instance, prospective students must audition for enrollment into Philadelphia’s Curtis Institute of Music. Those accepted receive full-tuition scholarships.

6. Use your location

A number of cities, counties, and states offer free tuition to students who either excel in their studies, or demonstrate a serious need.

7. Go overseas

Believe it or not, there are colleges overseas that offer free tuition to international students. For instance, students at KTH Royal Institute of Technology can get a free technological education at the Royal Institute of Technology. At Lund University in Sweden, you will not have to pay tuition fees.

8. Attend college online

Get free tuition from these online colleges and you’ll truly get a good deal. You won’t even need to pay for room and board! Andrew Jackson University,  Trinity College of Biblical Studies and The DiUlus Institute allow you to attend college online for free.

9. Demonstrate need

Students who come from low income families can get free admission from numerous colleges and universities. Surprisingly, many colleges consider low income to be above the poverty level, so don’t think you won’t qualify. Check out each college’s income levels.

10. Serve your country

With a commitment to serve after graduation and acceptance to one of the nation’s military academies and some military colleges, you can attend college for free (and even get paid while you attend). And if you join the military before college, you can attend using the GI Bill after you are honorably discharged.

Following are some additional resources:

For an extensive list of colleges that offer free tuition, follow the link below:

http://www.advantageedu.com/blog/2008/100-free-college-rides-you-dont-need-daddy-to-pay-for/

To read a recent article about free tuition at Antioch College, follow the link below:

http://www.huffingtonpost.com/2013/11/25/antioch-tuition_n_4339146.html?utm_hp_ref=tw

The College Solution listed colleges that provide 100 percent of need:

http://www.thecollegesolution.com/list-of-colleges-that-meet-100-of-financial-need/

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It’s a confusing process–figuring out how to pay for college. Not only is it stressful, but it’s overwhelming trying to understand all the ins and outs of everything to do with financing a college education. Two women, Jodi Okun and Celest Horton, are doing something about it. In two separate projects, each of them is doing their part in making college affordable while graduating without debt or minimal debt.

A Parent’s Guide to Making College More Affordable

Jodi Okun has partnered with Zinch to create A Parent’s Guide to Making College More Affordable for the busy parent who wants straightforward and simple, yet thorough answers on how to navigate the confusing process of paying for college. Jodi has been working in the college financial aid industry for over six years. She began working at Occidental and Pitzer College in their financial aid offices helping thousands of families as a financial aid consultant. Jodi is also the founder of College Financial Aid Advisors, where she works closely with families to successfully navigate the financial aid process.

A Parent’s Guide to Making College More Affordable

How to Pay for College HQ

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Every parent and student can use some help with the scholarship search process. And what is it they say? There’s a scholarship app for that!

Christopher Gray, known as the “Million-Dollar Scholar” after being awarded $1.3 million in scholarships, has created an app to help students search for scholarships. Over the past three years, Gray has also helped other families manually scour through databases, and figured, “Hey, I need something that can help.  There has to be a faster way.”

The app uses eight specific parameters, like state, GPA, or race, to instantly filter through a deep directory of scholarships available for the prospective student.

“It’s extremely simple,” says Gray and that ultimately was the goal. Since students are using their smartphones for just about everything today, he felt the app fit the needs of his audience.

A recent study, conducted by Sallie Mae, shows that 39% of families used scholarship funds to pay for college during the 2012-2013 academic year and Scholly connects users with relevant scholarships in about five minutes.  Scholly’s database is updated monthly to remove scholarships that are no longer available, add scholarships, and refresh deadlines.

Scholly can be purchased for $0.99 in the Apple App Store and Google Play.The app’s costs were intentionally positioned to make it affordable. Pay 99 cents and you may get thousands of dollars for college.

The day a son or daughter receives his/her college acceptance letter is one filled with joy and celebration.  The day that parents have to sit down with their children to choose student loans is not.  Selecting a student loan is often an intimidating process: not only are there so many options out there, but it is scary to think that a wrong decision could cost tens of thousands of dollars.   But before you pull out all of your hair just thinking about it, know two things.  One, Almost 60% of college students have to borrow money each year to assist in  tuition.  And two, there is a resource out there that helps parents and their kids find, using objective data, the student loan that best fits their needs and preferences.

FindTheBest just launched the best student loans comparison that lets students and their parents sort through 69 different loans by average fixed and variable interest rates and lifetime limit.  One can also filter down this list by loan type, loan coverage, eligible borrowers, cosigner requirements, and more.  For example, if you are an undergraduate that wants to get a loan from a private bank, you have a list of 7 loans to compare.  From here, you can pick the three or four loans that you like the most, and then compare side-by-side all of their application requirements, coverage, interest rates, repayment options, and more.

To summarize, FindTheBest breaks down the data, makes it easy to view, gives it to students and parents for free, so that scams and hidden fees are no longer a threat.  With this resource, students can make the most informed decision based on the factors that are important to them.  And if you have, no idea where to even start with student loans, check out the “Choosing A Student Loan” tab that guides you through the loan process and how this comparison tool works.  Try out the resource now below:

The May 1st college deadline is quickly approaching and parents and students are making decisions about financial aid packages. Most likely, those packages will include some form of student loans–either Stafford or Perkins. Colleges also provide parents and students with private loan options to supplement the government aid when necessary.

No one wants to graduate from college loaded with debt, yet 60 percent of college students and their families borrow money each year to cover ever-rising tuition and fees, according to American Student Assistance. That’s because the average private college charges close to $40,000 a year for tuition, fees, room and board, while state universities average just over $17,000 a year. Out-of-state students at public four-year schools fall halfway between those costs, averaging just under $30,000 for the 2011-2012 school year, cited US News & World Report.

Financial aid — merit-based and need-based scholarships, grants, work-study programs and loans — has become a reality for the majority of college students.

A New Way of Life

The process of finding aid begins with completing the Free Application for Federal Student Aid (FAFSA) to determine expected family contribution (EFC) based on family income and expenses. There are 63 universities in the U.S. that claim to meet 100 percent of students’ financial need, as determined by the FAFSA. The cold hard truth is that the majority of students don’t attend these colleges and will need some form of financial aid.

Protect Yourself

While working through the process of acquiring funding for college, remain mindful of identity protection. Your soon-to-be college student can be especially vulnerable to identity theft because his or her personal data is easily accessible through grade postings, credit card applications and online transactions, according to the Dept. of Education.

Here are some ways to protect the identity of your student:

• After completing the FAFSA, log off the page and close your browser.
• Don’t use paid financial aid services that operate over the Internet or by telephone. The Department of Education offers its services for free and pages containing your private information are password-protected.
• Do not reveal the FAFSA personal identification number (PIN) to anyone, even if that person is helping you fill out the form. The only time you should use your PIN is on secure websites.
• Shred receipts and copies of documents with student identity information if they are no longer needed.
• Review financial aid award documents and keep track of the amount of student aid applied for and awarded.
• Make sure your student reports all lost or stolen identification (such as your student ID card) immediately.

Forgiveness

When your child graduates, the payoff amount on the loan may seem crushing. But your child has options: student loans, especially those connected to postgraduate professional education, sometimes can be paid off through public service. In 2007, Congress created the Public Service Loan Forgiveness Program to encourage individuals to work full-time in public service jobs. Borrowers who have made at least 120 payments on eligible federal student loans may qualify for forgiveness of the remaining balance while employed full-time by certain public service employers, according to StudentAid.gov.

If public service isn’t an option, loan repayments can be accomplished more easily by paying off private student loans before paying off federal loans.

Be Smart

Only borrow what you can afford to repay. There are numerous sites that provide student loan repayment calculators. Know your options before you borrow and educate yourself on student loan repayment. Research salaries for your career choice and always estimate using entry-level figures.

As a parent, you probably want to do anything within your power to make your child’s dream of college come true. Hopefully you’ve saved up enough money to help them afford tuition, but that college fund may not stretch nearly as far as you once thought it would. Tuition rates continue to rise and finding grants and scholarships take some work on the part of your college-bound teen. For the vast majority of students and families, taking out loans is the only recourse. But some private loans will require you to co-sign on your child’s behalf. This complicates things, and could cause a host of problems. But, should you co-sign on a student loan?

It’s important to remember that any loan offered by the federal government will never require you to co-sign.

Those loans make up the bulk of the borrowed money for any student, and they come with low interest rates and controlled payback periods. In addition, some federal loans won’t accrue interest or require any payments to be made until after the student graduates. Federal subsidized Stafford loans do not charge interest until graduation. Unsubsidized Stafford loans begin charging interest on the day they are disbursed.

If you’re being asked to co-sign, that means it’s a private loan.

You must make sure that your child has looked for all government loans first before going this route.Repaying a private, co-signed loan is also far less flexible. You may have to start paying it off immediately, and the lenders don’t always offer the same deferment and forbearance options as the government. This makes it much harder to manage repayment, which also greatly increases the chance of a loan default. If your child does need some sort of deferment, they’ll often be charged a fee to do so. Overall, this option is far less favorable.

Co-signers are held responsible.

Keep in mind that as the co-signer you will be held responsible if your son or daughter fails to make payments. In fact, the lending institution will consider you 100% liable for this money, just as if you personally borrowed it. You don’t ever want to think about your child running into these sorts of problems, but it happens all too often to be ignored. Not only will they hold you responsible, but just as with those title loans in Arizona that went into default they will hit you with legal action if you fail to pay. That means action from the IRS, penalty payments and a massive dent in your credit score. This can bring about a whole host of emotional issues within the family, and the financial strain just isn’t worth it. All in all, consider co-signing to be an absolute last resort move.

Parents can co-sign on a student loan.

There are some positives to be found going this route. First of all, your student will be able to secure a lower interest rate, thanks to your involvement. Even if your college-bound child has been saving diligently, chances are he or she has not built up much credit to date, if any at all. If you have a solid credit history, you should be able to help your child secure a far lower interest rate by co-signing. And that means the cost of the loan will be lower over the life of the repayment period. In addition, by co-signing you are helping your child establish his or her own credit history. This process is crucial, as it will help them get future loans. Building credit often starts by opening up credit cards, and that comes with all sorts of other issues. By going this route you’ll work together to build your child’s credit.

Parents do have another option-PLUS loans (Parent Loans for Undergraduate Students).

To qualify for PLUS Loans, parents must have children who are enrolled at least half-time at an approved educational institution. The maximum allowable amount that can be borrowed for a PLUS Loan is the difference between the cost of the student’s attendance and any other financial aid the student receives (a number set by the school’s financial aid office).Unlike Stafford Loans, PLUS Loans feature neither a grace period during which no payments are due nor any period during which interest doesn’t accrue. The upside of this choice is that you control the repayment and do not have to rely on your student’s job procurement after graduation, or their ability to repay their loans.

Free money

In some cases students may have access to ‘free money’ – grants and scholarships that are non-repayable – and these should always be investigated first. In fact, there are many thousands of scholarships and grants available through universities and colleges, state and federal governments and other organizations, both public and private. Usually, private organizations and schools award scholarships, while governments provide grants, although some schools also provide grants. An Internet search will normally yield a number of possible sources, and reveal whether a prospective student is eligible for financial assistance.

Choosing the best loan

Once any grants or scholarships and any other types of financial aid have been taken into account, parents and prospective students are in a position to work out the requirements for a student loan. Here again, it is worth looking around for the best deals. For example, some lenders offer competitive rates for courses specific to a career, such as business administration, the health profession or law. The best institutions will lend up to 100 percent of college costs, offer both fixed and variable rates, have zero origination fees and require no in-school payments. In some cases, for example with certain law school loans, the lender will provide a reduction in the debt when automatic repayments are made from a bank account, and may also offer a reduction on successful graduation – read more information about law school loans by clicking here. 

Tips and advice

Parents and prospective students will benefit from working out a strategy to enable them to handle student loans wisely. Establishing and maintaining good credit for young people is an important starting point as this will often be used to make decisions about loans and other types of finance throughout their lives. To reduce student loan costs, one option is to prepay loans. For example, if a loan covers all the student’s costs – living expenses as well as tuition fees – and the student gets part-time work while at college, the additional money could be used to make loan repayments early. When making repayments, students should be encouraged to pay promptly and on time, as penalties for late payment will be reflected in their credit rate.

As well as taking advantage of any rewards offered by the lender, students or parents may be eligible for tax deductions if they have paid eligible student loan interest. A tax advisor will be able to offer guidance and the IRS website is a good source of tax information.