College Financing

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Valerie, I consider you an expert on college financing. With three sons in college at the same time, you’ve used your research to help other families as well.

V While we recommend avoiding school loans at all costs, it may be a necessity.  The best rates are subsidized loans and grants offered by the Federal government.  October 1 of each year, the federal government opens the Free Application for Federal Student Aid or FAFSA. At this time a student can borrow no more than $31,000.00 of these through their entire undergraduate time.

This means planning, not splurging.  Borrowing more will mean using sources whose rates are higher.