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Prepared Parents Pave the Way for College
Success
Date :
By Rasid
Many parents dream of the
day when their children have attained a well-rounded education, a
top-paying job, and are equipped with the character to succeed in the
working world. Students spend hours of their lives laboring to achieve
their college degree; and parents invest years of hard work to ensure
that their children have what it takes to get there.
Those who are most likely to achieve their dreams of a college education
are those who are the most prepared and take advantage of the many
resources available to them, according to NextStudent, a leading
Phoenix-based education funding company. Oftentimes, this comes down to
parents planning ahead by researching options, starting savings plans,
and putting together strategies that result in students being accepted
to the college of their choice.
Many Resources Available for College-Bound Students
Though some parents start saving immediately after their child is born,
others are not able to set aside funds until college is just a few years
away. There are many programs and resources that parents may use in
order to prepare for their child’s attendance at college.
If your child soon will be a college freshman, one of the best places to
start is by searching for FREE scholarships and grants. This is money
that does not have to be paid back and does not result in going into
debt to attain that important degree.
If your child already has been accepted at college, one of the best
places to start is the financial aid office of your child’s college.
Every single year there are thousands of little-known grants and obscure
scholarships that remain unclaimed, largely because students are unaware
of their existence. An easy way to begin the search process is with the
NextStudent Scholarship Search Engine, where students may review more
than 2.4 million awards valued at over $3.4 billion from over 42,000
college funding sources.
Government Lends a Helping Hand
Alternately, perhaps your child is not yet in high school. If this is
the case, now is the perfect time to start saving for his future
education. The federal government allows parents to set aside funds in
such tax-advantaged savings plans or “qualified tuition plans” referred
to as 529 Plans. Find out more about these at
www.sec.gov/investor/pubs/intro529.htm.
Tax benefits are another important consideration. The federal government
offers you specific tax credits, such as the Hope Credit. This program
may enable you to offset the cost of higher education expenses by
allowing you to subtract up to a certain amount of college costs from
your federal income tax. Please see the IRS Web site for more
information:
http://www.irs.gov/individuals/article/0,,id=121452,00.html.
Important Tip when Applying for Federal Aid
Many parents do not know about the “FAFSA,” or Free Application for
Federal Student Aid. Those who do most likely are already involved in
the college financial aid process. A FAFSA is the document that the
federal government requires students and their parents to complete when
applying for federal financial aid. Although the deadline for the next
school year is the end of June of the previous year, many parents are
not aware that they may complete the application as early as Jan. 2 of
each calendar year. Those who are prepared and apply early are more
likely to receive the funds they need, compared to those who wait until
July to apply.
In addition, some parents may be under the impression that they first
need to file their taxes before completing the FAFSA. This also is not
the case, as parents simply may estimate their income on the FAFSA and
update it later, if needed. If parents and students wait until April or
so to apply for funds they may miss out and not get what they need, so
it is advisable to apply as close to Jan. 2 to obtain the optimum
results.
NextStudent’s Personalized Service Makes
Preparing for College Simple
Wherever parents and students are in the planning and saving process, it
is never too soon to get started. The key is to approach college funding
strategically by taking advantage of all the resources at your disposal
and maximizing your options. Part of that process involves your decision
in partnering with NextStudent in making your child’s dream of a college
education a reality. When you contact NextStudent, you will be assigned
your own personal Education Finance Advisor who will answer any
questions you have and guide you through the college funding process
quickly and easily. With one simple call you could be on your way to
making your years of preparation and planning pay off beautifully.
NextStudent believes that getting an
education is the best investment you can make, and it is dedicated to
helping you pursue your education dreams by making college funding
simple. Learn more about Student Loans at http://www.nextstudent.com/.
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