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FINANCIAL AID TERMS you need to know

Award Letter  This is a term sometimes used for an offer from a college or career school that states the type and amount of financial aid the school is willing to provide if you accept admission and register to take classes at that school. Cost of Attendance (COA) The total amount it will cost you to go to school—usually stated as a yearly figure. COA includes tuition and fees; room and board (or a housing and food allowance); and allowances for books, supplies, transportation, loan fees and dependent care. It…

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Does College Have to Cost a Fortune?

Many adults without a bachelor’s degree want to go back to college, but worry about the overall affordability of student loans, according to a 2019 nationwide survey.* The survey showed the dilemma that faces many adults who have less than a college credential. About 70 percent said they believed colleges successfully prepare adult students for the workplace, and the same percentage believe having a bachelor’s degree is important to secure a job. Roughly 60 percent have considered returning to school to complete a degree. The majority said that finances pose…

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Active Ways to Save on College Expenses

Many of us learned new ways of saving money by being more frugal in 2020, perhaps by cooking at home or postponing small luxuries. Those small savings can translate into impressive ways to save for your education, or a loved one’s.  FINANCIAL TIPS Fill out the FAFSA every year. Complete the FAFSA by April 15th before each new school year, regardless of your family’s financial status to see if you’re eligible to receive funds. The FAFSA helps you tap into federal, state and institutional grants and scholarships. Apply for scholarships…

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Kevin Robbins: A New College Degree and Career, Minus the Cost

Kevin Robbins played football at Franklin College and attended IUPUI, but he never graduated. Instead, he pursued a lucrative career in car sales. That career came at a cost, however. To earn his commissions on new car sales, he worked long hours, without any company health or retirement benefits. Eventually, he knew something had to give. So in 2014, at age 24, he entered an apprenticeship with Quality Connection, a labor management partnership representing 100 union electrical contractors and 2,500 International Brotherhood of Electrical Workers (IBEW) #481. Now, at age…

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Financial Aid Basics

Here’s a fact: College can be expensive. Here’s another fact: There are ways to make it more affordable. Whether it’s federal, state or institutional aid, here are financial aid basics you should know. First, there is no age limit for federal student aid and applying is free at fafsa.gov. You might qualify for three categories of federal student aid: • Grants are student aid funds that do not have to be repaid. Most federal grants are based on financial need. • Work-study is money earned through a job on or…

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