• Mss Ps Mda Ads Sppm Jaa 21, 2013
(NAPS)—College is a major investment, but the data proves it’s an investment worthmaking. According to inormation released by the U.S. Census Bureau in February 2012,workers with a college degree earned nearly twice as much as those without one in 2009. Inorder to make the best investment possible, amilies should begin planning early in order to gather and understand all available inormation. Every situation is dierent and soundplanning can go a long way in helping amilies reach educational goals while minimizingthe nancial impact. The ollowing are a ew points to consider beore making the higher education investment:
DeveloP A tiMetAble AnD liSt of tASkS to be coMPleteD thAt cAn ASSiSt youin your PlAnning effortS.
To ensure you don’t miss anything, sign up or CollegeSTEPS®, a ree planning programoered by Wells Fargo. Register at wellsargo. com/collegesteps.
tAlk with your fAMily About whAt you cAn AfforD to SPenD on School.
Share your belies and values about various approaches or paying or school, romusing income to leveraging your home or savings accounts to taking out studentloans to pay or college.
AvoiD getting your heArt Set ongoing to one PArticulAr School.
Apply to at least three schools andcompare what it will cost you to go toeach. Understand how much the school,scholarships and other unding optionswill cover and what your total costswill be.
APPly for grAntS AnDScholArShiPS.
Start searching or scholarships the
re You Financially Prepared For College?
summer beore your senior year o high school. Check online, with your high schoolguidance counselor and with organizations you are aliated with, including your religious organization. In addition, some organizations have tuition reimbursement or scholarship programs or employees or their dependents. Every bit o “ree money” makesa dierence.
uSe the fAfSA4cASter to get An eArly iDeA of your eligibility for feDerAlAiD AnD loAnS.
To get a complete and accurate picture o your eligibility, you’ll need to complete theFAFSA orm prior to each academic year, but the FAFSA4caster is a helpul tool or thosewho want to get a head start. Register or a PIN with the Department o Education andsubmit the FAFSA as soon as possible ater January 1 o your senior year.
gAther inforMAtion AnD MAke A liSt of the oPtionS AvAilAble for PAyingfor School.
Consult with your bank, your nancial advisor and the nancial aid oce at prospectiveschools. One source that might be helpul as you go through the planning process or college is WellsFargoCommunity. com, a ree online community o students, parents,teachers, guidance counselors and nancial advisors devoted to creating an open dialogueabout the college-planning process. The community hosts a number o ongoing topicdiscussions and is open to anyone looking or inormation on college planning.
conSiDering StuDent loAnS.
I you determine that you’ll need to borrow money to pay or school, careully consider theull cost o the loan, including the type (xed or variable rate), interest rates, originationees and repayment options. Whether your loan is ederal or private, it will accrue interestwhile you are in school.
borrow only whAt you neeD.
Working with a responsible lender can help you better manage your loans. Sound planningcan go a long way in helping amilies reach educational goals while minimizing thenancial impact.