Renascence School Education News - private school

Sunday, April 26, 2015

When To Pay For Education-Related Financial Help

Forbes – Robert Farrington

“There is a booming industry forming to help people with education financial assistance. There are companies and services that can help with FAFSA and Financial Aid, finding scholarships, financial planning for college, and help with your student loans after graduation. The topic of “how to pay for college” is one of the fastest growing areas in financial services, but consumers need to know when they should and when they shouldn’t pay for help. Because in any area that is booming, there are bound to be companies prowling for victims and scamming student loan borrowers.”(more)

Monday, April 20, 2015

Most 20-Somethings Can’t Answer These 3 Financial Questions. Can You?

Time – Susie Poppick

“A new study finds that young Americans could use some help when it comes to managing their money. Just in time for financial literacy month, a new San Diego State University study of young Americans has found that they are lacking when it comes to financial knowledge and behavior. Out of these three questions measuring basic financial knowledge, the average respondent could answer only 1.8 correctly—and only a quarter got all three right. (Answers are at the bottom of this story.).”(more)

Saturday, April 18, 2015

How Colleges are Squeezing Students on Financial Aid

Time – Timothy Pratt

“Dalia Garcia breathed a sigh of relief when she found out that she had been given enough financial aid to nearly cover the cost of tuition for her first year at California State Polytechnic University at Pomona. Because her father earned less than $20,000 a year as a janitor, college would have been out of reach without the help. The aid meant “having a sense of security,” she recalled. And as a high school valedictorian with a high grade-point average, Garcia was able to add several scholarships to her bounty.”(more)

Thursday, April 2, 2015

Financial Capability: Important for Students and Communities

Ed.gov – David Soo

“This week, President Obama declared that April will be Financial Capability Month. Now more than ever it is important to ensure that all students are ready for college and careers. A critical component of this readiness is financial capability. This includes sound financial education, but also the skills, dispositions, and access to appropriate financial products—in a consumer-friendly environment—necessary to make informed financial decisions. It is critical that financial capability is a part of every student’s education, whether they are about to enter the workforce or make the decision about where to go to college and how to pay for it. The effects of this financial capability, however, stretch beyond the gains that will accrue to the individual. We know that students who learn financial lessons often spread these lessons to their parents, aunts and uncles, and others in their community.”(more)

Thursday, March 26, 2015

Simple Mistakes That Can Hurt Financial Aid Prospects

Forbes – Robert Farrington

“Now is the time to find the most financial aid possible to help with the costs of school. It can be a challenge, though, to find financial aid, especially given the fierce competition and limited amount available. It all starts with the FAFSA, the Free Application For Federal Student Aid. Then it includes the hunt for scholarships and grants. Finally, it ends with potentially taking out student loans. But what if none of these were options? What if a simple mistake made it impossible to get financial aid? It happens, and it can make financing college difficult. Here are the top mistakes families make when it comes to preparing and applying for financial aid.”(more)

Sunday, March 8, 2015

The School Where Everyone Fills Out The FAFSA

NPR – Owen Phillips

“Every year, more than 2 million students who would qualify for federal Pell Grants fail to fill out the form that determines eligibility — the Free Application for Federal Student Aid. But not one of those 2 million students goes to Dr. Martin Luther King Jr. College Preparatory School in Chicago. That’s because Alana Mbanza, the school’s college and career coach, won’t rest until all of her seniors complete the famously complicated and lengthy form, commonly known as the FAFSA. Most days you can find Mbanza, laptop under her arm, roaming the hallways. She’s looking for students who haven’t submitted their FAFSA. She can help them complete it on the spot.”(more)

Tuesday, March 3, 2015

Solving Oregon’s chronic absenteeism problem: Would financial incentives motivate schools or punish students?

Oregon Live – Betsy Hammond

“Oregon lawmakers are hotly debating a bill that would gradually change state school funding to a formula based on the number of students who come to school rather than the number enrolled. Principal-turned-legislator Rep. Betty Komp, D-Woodburn, is pushing House Bill 2657, which would make that switch, starting by funding kindergarten based on kindergartners’ attendance in 2016-17. By 2020-21, all grade levels would be funded that way. But several members of the House Education Committee said Monday they will vote against the bill, which is exactly the position that the state teachers union and the Oregon School Boards Association urged them to take. Students who come from low-income homes are most likely to miss a lot of school, so schools in poor communities would be harmed, and family factors outside of schools’ control contribute to absenteeism, said Portland Democrat Lew Frederick and Salem Republican Jodi Hack. Schools need more money and more support, not a hammer hanging over them that they will lose funding if they don’t fix high rates of chronic absenteeism, they said.”(more)

Thursday, February 26, 2015

Why Are So Many College Students Turning Down Free Money?

The Atlantic – Terrance F. Ross

“The ceremonial tossing of college-graduation caps into the air was once a symbol of liberation. Now, it often signifies a future tethered to massive student debt, which takes a borrower 14 years on average to repay. Most recent graduates struggle to escape its wrath; after all, student debt in the United States now amounts to $1.16 trillion, $31 billion more than it was last year…So, why did prospective college students, according to new estimates, turn down nearly $3 billion in free federal-aid money last year? The answer appears to be two-fold: the red tape of the financial-aid process and the widespread financial illiteracy plaguing the nation.”(more)

Monday, February 23, 2015

College freshmen need to beware of bait-and-switch aid offers

Reuters – Liz Weston

“Families receiving college financial aid offers this spring should beware: what they see this year may not be what they get next year. Some colleges make their most generous offers to high school seniors as a lure to attend, a practice known as “front-loading.” But those returning for their sophomore and subsequent years at university may get thousands of dollars less in grants and scholarships than they did as freshmen. Often, the free money is replaced by student loans. About half of all colleges front-load their grants, according to financial aid expert Mark Kantrowitz, who analyzed data from the National Center for Education Statistic’s Integrated Postsecondary Education Data System.”(more)

Sunday, February 15, 2015

The most common college financial aid mistakes — and how to avoid them

The Washington Post – Valerie Strauss

“The Free Application for Federal Student Aid (FAFSA) is a gateway to money for college. Not only is it used to apply for federal student aid, such as the Federal Pell Grant, Federal Work-Study, Federal Perkins Loans and Federal Stafford Loans, but it is also used to apply for student financial aid from state governments and most colleges and universities. But, applying for financial aid can be complicated. Financial aid involves an alphabet soup of acronyms, like FAFSA, EFC and SAR, and is like speaking a foreign language. Edvisors.com has more than 750 terms defined in its financial aid glossary. The FAFSA itself has more than 100 numbered questions, presenting many opportunities for potential errors. The “Filing the FAFSA” book, available for free download at www.edvisors.com/fafsa-book, offers hundreds of pages of advice and insights into completing the FAFSA correctly. Some of the most common errors involving the FAFSA that affect financial aid eligibility include:.”(more)