Financing Tools for Parents

The federal financial aid formulas assume that parents can access a variety of tools to help their child with the cost of post-secondary education.

Some of these tools include:

• Federal PLUS Loan
  • PLUS Loan versus cashing investments
• Interest Free Monthly Payment Plans Offered through the School
• College Savings Plans
• Home Equity Loans
  • PLUS Loan versus home equity loan
• Withdrawals from Retirement Plans

Many families utilize a combination of these tools. We would encourage families to utilize the "Borrow Smart" Program to learn how much they can save by financing a part of their expected parental contribution through a monthly payment plan.

Budgeting for "Other Expenses"

Sometimes families forget about the "other expenses"  outside of tuition costs. Here are some helpful links on meeting these costs:

• Study Guide: How to Save Money on the First Year of College
• Saving Money on Textbooks

Should Your Student Have A Credit / Debit Card ?

• Make Sure College Students Have Credit Wisdom
  • Loyola University Express Card
  • PayPal Makes a Bid for Student Banking
  • How Do College Students Build  Credit History as Rules Change ?
    • No Free Pizza with New Student Credit Card Rules (September 23, 2009)
    • College Students Should Use Credit Cards With Caution
  • Debit Cards Can Help Teens Budget

Take a Break and Listen to Some Traditional Jazz

Updated November 8, 2009