Private Student Loan Advice & College Financing Resources

Talking about money with anyone can be hard. Talking about paying for college with your kids can be even tougher with all that is riding on a college education. But, the paying for college-conversation needs be had earlier before a college choice is made. So, here are three ways to talk to your kids about money and paying for college.

The price of college can go beyond just tuition—living expenses and additional school costs can really add up. Quickly. This is why brushing up on some financial education tools can go a very long way when it comes to managing your college-related expenses.

“’We need to once again take an investment approach, and arm students and their parents with information and guidance that will help them better align their level of investment with expected outcomes, such as graduation rates and expected earnings,’ said Ken Ruggiero, chairman and CEO of Goal Structured Solutions, the administrator of Ascent Student Loans, in a statement about the survey.”

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When considering your college options, a school’s financial aid office should be at the top of your “people to make friends with” list. They offer invaluable aid and financing information to you and your student, but there are some things they may not always be so forthcoming with.

There are several reasons that students might hold a job alongside school. Some reasons are personal, and others are more general. Let’s look at some of the factors that may affect your decision on whether or not to be employed while enrolled..

Education is a big investment, and many students like you may need help paying for it. The price of tuition alone may seem like a barrier between where you’re at now and where you want to be. Even then, tuition isn’t the only expense you might face—the cost of textbooks, housing, transportation, food and supplies all add up.

A study commissioned by Ascent Funding reveals interesting insights regarding the cost and financing of higher education   According to a May 2018 nationwide study* by Ascent Funding: Student’s financial burden is greater than expected. Nearly half of students report they are now shouldering more responsibility in paying for college than originally anticipated. The perception of value is not keeping pace with the price tag. 51 percent of students do not believe the value of a college education has kept up with the rising cost. There are significant gaps in student knowledge relative to financing options and what their future payments will look like. Only 32 percent know that interest begins accruing on the date of loan disbursement and only 21 percent correctly identified the average student loan payment as greater than $200 per month (nearly one-third believe it’s less than $100) Download Full Report   * Ascent Funding surveyed 1,027 college students currently enrolled in a four-year bachelor’s degree program who have taken out student loans.  The survey was fielded using the Qualtrics Insight Platform, and Fulcrum provided the panel.

“A new survey from Ascent Student Loans, a student loan provider, found that 47 percent of students are shelling out more money for their education than they expected and over 60 percent are responsible for more than half of their total education costs.”

“Ascent provides its borrowers with loan options and features that most private student loan companies don’t offer. For example, if you can’t find a cosigner or you like the idea of getting rewarded for graduating, Ascent might be a good choice.”

Financial literacy is a subject that everyone should master because we all use these skills far beyond graduation. You’ll be glad you took the time to learn how to budget, handle debt, and build an emergency fund.