Fund College

She Told Me

2010-02-23T09:24:00.001-08:00

Use She Told Me to promote websites and blog that you like, or even your own.

Upromise Program

2008-09-26T14:02:00.000-07:00

A great way to help save for college is by joining the free program called Upromise. It's basically a rebate program that earns you money every time you shop at one of the thousands of participating retailers. The money you earn can be used three ways to pay for college: 1) it can be directly deposited into a 529 college savings plan 2) it can be used to pay down your student loans or 3) it can be accessed as cash to pay for qualified college expenses.

SEE my website at: http://www.squidoo.com/FreeCollegeSavingsMoney
for more information about the Upromise program and how I've already saved more than $2000 in FREE money for my son's college savings.

Scholarship Search

2008-02-19T15:37:00.000-08:00

If you're looking for somewhere to start looking for scholarships, here's a great independent site (not affiliated with any one particular school):

Fastweb.com is a website that will assist you in finding a scholarship whose criteria meets what abilities/needs your student has. It's site says Fastweb is the largest source of local, national, and college specific scholarships. Fastweb will personally match your student to scholarships available. It also has many tips and tools to help you find ways to pay for college. Check it out!

529 Plans

2008-02-07T09:04:00.001-08:00

A great way to start saving for college is to open a 529 College Savings Plan. A 529 Plan offers a a tax-advantaged way to save for college. 529 Plans are offered by states or educational institutions and typically invest in mutual funds. Most 529 plans, regardless of the state who runs the plan, allow you to use the funds to attend any college or university nationwide. The big benefit of a 529 plan is that your contributions in 529 plans grow tax-deferred, and any withdrawals for qualified college expenses can be withdrawn tax-free. In essence you are not paying any taxes on the earnings if used for qualified educational expenses.

Many states also offer state income tax deductions for contributions you make to your own state's plan. Before picking a 529 plan to invest in, check to see if your state offers a tax deduction or not. If so, you may want to invest in your own state's plan. However, make sure you look at the plan fees (if any). A high annual fee may outweigh any potential savings on your state income tax.

The 529 plan allows you to name a benfeciary(even yourself) for the money, but the account owner has complete control over the account. The owner (usually a parent) chooses the investment fund, controls the contributions and withdrawals, and can even change the named beneficiary (once per year). If a account owner names their firstborn as their beneficiary, but he/she doesn't attend college, the account owner can change the beneficiary to another child.

Opening an account is as easy as filling out a few forms and making a contribution. www.collegesavings.org gives more information on 529 plans.

The most important Finacial Aid Application

2008-02-07T08:18:00.000-08:00

If you are a current college student or are going to college in the 2007-2008 school year your first step to finding money for college is to get your FAFSA filled out and submitted.

What is FAFSA? It stands for Free Application For Federal Student Aid. Although it is the application that must be submitted to receive any type of Federal Aid, such as federal student loans and grants, it also must be filled out before your college or university will even process your financial aid request to their school. Why? Because the school uses the same qualifications that the federal form uses to determine your need based aid. But it must have the FAFSA filled out prior to granting you and merit based scholarships too. Although the deadline to submit your FAFSA isn't until June 30th, the sooner you submit it after Jan 1st the more likely you are to get scholarships, grants, and loans. Once they're gone, they're gone.

How do you submit a FAFSA? You can go online and submit it at www.FAFSA.ed.gov. Submitting it online is faster than by mail. But you may choose to fill it out on the paper form and then submit by mail. See www.FAFSA.ed.gov for all details and instructions.

On the FAFSA you must select the schools you want your information sent to. My suggestion: list all the schools you are considering attending. By doing this, even your last choices of schools to attend will have your information and be able to offer you financial aid. You don't want to run the risk of changing your mind at the last minute and attending your #3 school choice only to realize you haven't submitted a FAFSA to that school and won't be considered for any financial aid. You can always submit it later, but if it's after the deadline, you are out of luck until next year. If it before the deadline, but close to it, you probably missed out on the bulk of financial aid. Most of it has probably already been given away.

After you submit your FAFSA, also check with each school you are considering attending and fill out the school's financial aid form. (Yes, they will have a separate form). These typically ask you more personal information such as your activities, honors, awards, etc. They also often ask you to write an essay. Do not underestimate the importance of the school's financial aid application. There are many scholarships offered by individual schools.

The sooner you fill out these applications (after Jan 1st for the next school year) the more likely you are to receive scholarships, grants, and loans to help you FUND COLLEGE.

Still owe college loans at 40 yrs old!!!

2008-02-06T10:45:00.000-08:00

I'm starting this blog because my husband turns 40 this year and we still owe at least $20K on his student loans! To make me feel even worse about it, our oldest son will be starting college in 6 years.....maybe before my husband's loans are even paid off! Both my husband and I came from families who either couldn't help their children pay for college or simply didn't want too. Leaving the bulk of the financial planning up to the college student.

In my case I was able to find enough scholarships and grants that I only borrowed less than 10K in loans for my entire undergraduate and graduate degrees. And had them paid off even before they started acruing any interest. In my husband's case, he was able to have scholarships and grants for his undergraduate degree, but when he began his graduate work he took out loans. The same loans we are still paying on today.

My goal of this blog is to help educate parents & students out there as to the various means available to you to FUND COLLEGE. Sometimes your high school guidance counselor doesn't give you that much guidance. Or maybe you (or your child) are a first generation college attendee in your family and just simply don't know where to start in finding financial aid. Or maybe you are a parent with a newborn baby or young child and realize the value of time in saving for college. Whatever your situation, welcome to my blog. May it be helpful to you and give you plenty of tips and information on saving for college.