The official e-newsletter of The Equestrian College Advisor.

Time to Talk: Financing Your College Education

Forget the birds and the bees. If you’re sending a student to college in the next few years, one of the most important talks you can have is about money – how much college costs and who in your family will be covering them in the coming years.The challenge:Many people are fortunate to have savings to help minimize the amount of aid needed, but even with those funds, most families can’t afford to cover a student’s direct cost of attendance out of pocket. This means that families will rely on financial aid either from the school itself (in the form of scholarships and/or grants) or from outside sources (scholarships or student loans).Who is responsible?Some parents wish to financially support every facet of their student’s education and others want the student accountable. Regardless, it’s vital that parents are clear with their students from the very beginning of the college search regarding exactly what their financial responsibilities will be so that the final costs of colleges on the short list are fully considered in terms of how it will financially affect the every member of the family.What types of aid are best?Both scholarships and grants are “free” aid, in that neither source requires repayment after graduation. Scholarships, however, typically come with a set of requirements that must be met in order to retain or renew them (a minimum GPA that must be met every semester, for example) and many grants are based on a student’s performance or on a family’s financial situation remaining stable over time. Changes to income or to a student’s academic status can influence future grant awards.Student loans are financial aid that must be repaid. Federal loans are the most common, as many private lenders moved away from student loans in the last decade. Loans often get a bad rap in the news, but if students weigh potential loan debt against projected earnings, they may discover that some loans will help more than they will harm.The bottom line:When selecting the right fit college for your student, financial considerations must be a big part of the conversation from Day One. Only by talking about money early and often can you prevent problems when it comes time to select a school and the numbers don’t crunch correctly.

Seniors, are your colleges pressuring you to commit before the May 1 National Candidates' Reply deadline?

Here's what you need to know.

If you want to find a career in the sciences, is there a place for you at a liberal arts college?

According to this article

, the sciences and humanities are a perfect marriage.

For college-bound student athletes in all sports, the best recruiter you know is yourself.

In a recent survey, 100% of college coaches said that they prefer to hear directly from a student-athlete.

That's right - 100%.

Share