Knowledge Bound: The RSC Blog



Visit the Knowledge Bound Blog regularly for news analysis, editorials and facts about education and financial aid.

Posted on Jan 20, 2014 - 09:15 AM | Financial Aid | Comments (0)

When students ask an adviser, “How do I get financial aid?” they typically get the response, “Fill out the FAFSA."   The FAFSA (or Free Application for Federal Student Aid) is an essential step in getting financial aid, but it’s a step near the end of your journey. You’ll get a lot better financial aid if you start planning early, long before the middle of your senior year.   Planning for Good Financial Aid   Planning for college doesn’t just mean putting money in a 529 Plan, Individual Development Account or other savings plan &nda... More
 
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Posted on Jan 15, 2014 - 09:05 AM | Financial Aid | Comments (0)

When students hear they’ve won a scholarship, they’re excited. Someone has recognized a special talent or ability of theirs and is making an expensive college just a little bit more affordable. They think the scholarship will add to any financial aid they get.   Most of the time, they never find out the truth.   Many colleges actually deduct the scholarship you receive from your total financial aid package, meaning you’re no better off now than you were before you received the scholarship. The college simply awarded some of the need-based aid it planned to give ... More
 
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Posted on Dec 09, 2013 - 10:25 AM | Financial Aid | Comments (0)

Most colleges and high schools don’t offer classes in student loan debt, so we’ll offer a primer.   ·        The average college graduate in 2011 had $27,000 in student loan debt. ·        Two-thirds of graduates had more than $34,000 in debt. ·        10% had more than $40,000 in debt. ·        College graduates, or far less than half the country, owe more in student loans than the entire country owes in c... More
 
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Posted on Aug 08, 2013 - 09:40 AM | Financial Aid | Comments (0)

A recent study revealed that saving for college is a parent’s second biggest savings investment. Saving for retirement is first. Of course, when you consider that many families dip into their retirement funds to pay for their student’s higher education, the balance tips a little more toward college.   That’s not necessarily the best approach.   Why Parents Are Borrowing From Retirement to Pay for College   Fortunately for their children, most parents intend to pay for some, if not all, of their child’s education. That’s when financial reality ... More
 
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Posted on Jul 09, 2013 - 11:15 AM | Financial Aid | Comments (0)

A low-income family receives a financial aid offer from their local college and notices that it includes student loans. They accept the offer – and the loans – without question.   Why?   Well, consider this fact: 70% of families making less than $28,000 per year never heard of Pell Grants. Unfortunately, they’ve probably heard of student loans, a standard and acceptable part of higher education. People expect to pay them. They probably even know a few people struggling to pay off their student loans.   So why aren’t people aware of Pell Grants? Bank... More
 
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Posted on Jul 03, 2013 - 09:55 AM | Financial Aid | Comments (0)

The cost of college is like the Great Wall of China, and nearly as imposing to high-school students and their families: one kept the Mongols from invading; the other is keeping students out of college:   The Effects of the High Cost of College   80% of students who wanted to go to college but didn’t say it was the cost of tuition that kept them out. 2/3’s of college graduates said that cost was either extremely or very important in helping them decide where to go. Wealthy students are only 1¼ times more likely to go to college than low-income st... More
 
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