Account Ownership: In Whose Name to Save?
This article compares and contrasts the different saving mechanisms for college. It also discusses the pros and cons of saving in the child's name or parent's name for maximum tax savings and financial aid eligibility.
Cash for College
From the National Association of Student Financial Aid Administrators (NASFAA) comes this guide that explains the ins and outs of paying for college using a combination of cash, financial aid, and scholarship money. This guide also explains the role of the Financial Aid Administrator and provides each student with a financial aid checklist.
Expected Family Contribution (EFC) Calculator
This form is used to calculate the Expected Family Contribution (EFC) and
financial need, and to estimate your student financial aid.
College Savings Calculator
Takes parents and students through different saving scenarios by allowing them to enter an initial deposit amount, a monthly savings goal, anticipated interest rates, and the amount of time until the funds will be needed.
Funding your Education
A free US Department of Education publication that discusses the different types of Federal funding that is available to college students. Also discusses the process to borrower student loans and the importance of repaying those loans after graduation.
Staying on Track to Finance Your Education
The Michigan Guaranty Agency created this guide to help prospective and current college students in planning a successful experience, preparing both academically and financially for higher education.
IPT Basics of
Saving and Investing-link
The Basics of Saving and Investing: Investor
Education 2020 guide is an investor education and protection teaching guide. It
was developed for high school teachers, however its content lends itself to all
kinds of investor education and protection initiatives including college
courses, work place education, after school programs, seminars for adults and
seniors, etc.
Where to Invest Your College Money
This booklet describes the best choices for your long-term investments and short-term savings. While the costs of sending a child to college continues to rise faster than the rate of inflation, there is an abundance of investment vehicles available to you in which you can build your college fund, whether your child is far away from freshman year or already in middle or high school. Printed copies are available by request, please contact Lucy Sciotti at sfa@michigan.gov to order copies.
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