College Countdown — One Year Left!

High school seniors are returning to school this year with mixed feelings: on the one hand they’ll really enjoy being at the top of the academic heap for the whole year, but on the other hand they’ll be getting themselves prepared to apply for college and say good-bye to their friends. A lifetime of memories will be made, good thoughts, which can carry students through for the rest of their lives.

Let’s take a look at what you can do now to make heading off to college as worry free as possible.

College Planning And Your Family

Preparing for college isn’t a solitary endeavor. Parents get involved as they are the ones providing the bulk of the financing while offering guidance on which schools to visit, what scholarships are being offered, and which financing options are applicable. Yes, even your siblings cannot be left out as whatever family decisions are made will affect them.

College Tracking Tools To Help You Stay Organized

As you will soon find out, your last year of high school won’t be as carefree as you may think that it will be. High school seniors still must finish up course work, complete college entrance exams, and deal with constant change. The thought of planning the next four years of life while handling today’s problems can seem overwhelming which is why we have developed free tracking tools to help take the edge off of college preparation.

Four tracking tools for college planning:

1. Student aid tracking worksheet — a worksheet to record and track your financial aid information (excel file).
2. College budgeting worksheet — an automated file to plan and budget college aid and costs (excel file).
3. College cost comparison worksheet — compare colleges by cost and amount of aid awarded (excel file).
4. College spending sheets — use these spending sheets to track daily - weekly - monthly spend (PDF).

Please visit this page to find the four tracking sheets and related planning tools.

Starting Your College Search

At the same time you are taking a look at your financial condition, you’ll want to begin your college search. Chances are you spent some time last summer visiting some college campuses, but narrowing that list down to a manageable three or four schools will make college planning a whole lot easier.

Use a financial aid checklist to balance college search with student financial aid options for a clearer picture of your schooling options. Parents need to remember that Stafford loans and private student loans are two forms of student aid that have opened up educational opportunities for millions of students.

Almost Done, But Not Quite!

With the tracking tools at your disposal, college planning becomes less of a stress and much more of an enjoyable experience. You still need to consider your college major and meet with your guidance counselor, so plan wisely now to take the edge off the coming crunch time!

Tags: 529 college savings, College Financial Aid, college freshmen, college planning steps, college planning tools, college search, financial aid, high school, high school senior, private student loans, Student Loans

It is summer, the beach beckons, and all your friends want you to hang out with them. Thoughts of getting ready for college seem crazy right now, but coming up with a basic budget now will save you from much anxiety later. Besides, if you need to get financial assistance, you’ll want to explore that option once you know what your expenses will be.

A college budget isn’t a difficult undertaking, but it is something that can help you have a clearer picture where you stand financially. Your 529 savings plan, scholarships, grants, and other monies may not cover all of your expenses, leaving you short by several hundreds of dollars each month.

To get a handle on your expenses, make a best estimate on what you expect to spend for the following:

Tuition and fees — You may not be paying your school’s full $325 per credit tuition plus fees, but you probably know what amount is expected from you to cover both the fall and spring semesters.

Books — Books can be the “wild card” when it comes to college budgeting, so figure on an amount above what you expect to pay. In other words, paying one thousand dollars for textbooks for the coming academic year may not be a stretch.

Academic supplies — incidentals such as paper, notebooks, pens, and the like can add up quickly.

Electronics - laptop, printer, etc.  What college student have his or her own laptop these days? Sure, the computer lab is an option, but you won’t have any privacy and you have to connect on their time, not yours.

Housing — room and board on campus v. off-campus housing.

Food — don’t expect that you’ll want to eat cafeteria food every day. Determine what you’ll have to pay out of pocket and add that figure here.

Entertainment – on campus entertainment costs a lot less than the off campus variety, but you’ll want to find your diversions away from school from time to time.

Transportation (around the campus and town) — foot traffic is cheaper than maintaining a car, but you’ll at least need bus or train money for trips several miles off campus.

Travel home — whatever costs associated with making the occasional trip home should be included. Check with the airlines, trains, buses for fares. Consider “ride sharing” with other students who live in your area.

Other — anything that doesn’t fit the above categories goes here. This could include prescription medications and other health expenses not covered through your parent’s health plan. Clothing is another item you may need to purchase.

Your budget won’t be precise, but it should be very close to what your expenses will be for the coming academic year. Find out what monies you have available to you and see how much can be applied for this school year. If you have a shortfall, consider working a part time job or taking out a student loan to meet expenses.

Once done, reward yourself and hit the water. Yea, your friends are waiting, but at least you don’t have a burden hanging over your head for the entire summer.

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Adv. — Visit SayStudent.com to find out what your college money options are for the upcoming school year.

Tags: 529 college savings, college budget, College Planning, financial aid, private student loans, Stafford loan, Student Loans