Good Financial Reads: Student Loans and Financial Aid

Potential student loan cancellation has been an area of much speculation with the new Biden administration. So far, not much has changed, but there are a lot of misconceptions out there. Here are the 4 most common questions I get (and what you should do with your student loans in 2021):

The cost of college keeps rising, making it harder for students to attend without any financial aid. Fortunately, the government provides a few ways to offset the cost of secondary education. It all starts with the Free Application for Federal Student Aid (FAFSA), which every student attending college must complete.

Completing the FAFSA may make students eligible for a variety of financial aid programs, including grants and federal student loans. Most students don't have to repay grants, but there are a few exceptions.

If you have a student bound for college in the next few years and are beginning to wonder about how to pay for it and the financial aid process, a good place to start is understanding the Expected Family Contribution (EFC).

If you have a high school senior, a child in college, or are considering higher education for yourself and you haven’t yet completed your FAFSA form for this year, then put that at the top of your To-Do-List this coming weekend!