advice for parents Archives - Student Debt Diaries

Make a Plan For Student Loans

September 20, 2021 Jordan RothmanRepayment Strategies

When people are high school students thinking about college, student loans may seem like a distant challenge. Indeed, high school students usually did not need to borrow debt for anything else before in their lives, so it can be difficult to evaluate the consequences of student loans and how educational expenses should be covered. However, everyone should make a plan for student loans as soon as possible, preferably as soon as they know that they… Continue Reading Make a Plan For Student Loans

A Student Loan Bailout is Unlikely

November 16, 2020 Jordan RothmanRepayment Strategies

Over the years, there have been some discussions of a massive student loan bailout that would wipe out most or all of the student debt burdening millions of borrowers dealing with student loans. Indeed, I wrote an article on this topic a few years ago for another website, and I predicted that a student loan bailout would be fairly unlikely. I also wrote a similar article on this website a few years ago. Now that… Continue Reading A Student Loan Bailout is Unlikely

Paying Sticker Price to Attend Law School

October 19, 2020October 19, 2020 Jordan RothmanChoosing Schools

Most people understand how law school is extremely expensive, and how it requires a substantial investment of time and money to become a licensed attorney. Fortunately, scholarships and other types of financial aid are available to law students in ways not available to students who enroll in other graduate programs. As a result, paying sticker price to attend law school (a nickname for attending law school without any scholarships or other financial assistance) is only… Continue Reading Paying Sticker Price to Attend Law School

Getting Advice About Student Loans

October 5, 2020October 5, 2020 Jordan RothmanAdvice for Parents, Repayment Strategies

Paying off student loans can be a lonely process. People often do not discuss student loans with their peers, so it is difficult to get advice and support from friends. In addition, the student loan challenges faced by this generation are different than the struggles faced by people who went to school decades ago. However, getting advice about student loans can be easy if you keep a few things in mind. Siblings Siblings can be… Continue Reading Getting Advice About Student Loans

Need-Aware Admission is Unfair

September 7, 2020 Jordan RothmanAdvice for Parents, Choosing Schools

This website has mentioned in several prior articles how I was offered generous financial aid to attend college and graduate school. Indeed, I am kind of the “poster child” of college financial aid, since I received a ton of grants and other assistance that nearly covered the enitre cost of earning my college degree. When I attended my college, the school had a need-blind admission policy, meaning that a student’s ability to pay was not… Continue Reading Need-Aware Admission is Unfair

Having Siblings Can Help with Financial Aid

August 17, 2020 Jordan RothmanAdvice for Parents, Choosing Schools

Having Siblings Can Help with Student Loans

As this website has already discussed in several prior articles, many factors are evaluated when determining if a student is eligible for financial aid. For instance, a family’s income and savings is often used to calculate how much money a family can be expected to contribute to a child’s tuition. In addition, the number of children a family has in college at the same time can also impact financial aid determinations. Since families cannot contribute… Continue Reading Having Siblings Can Help with Financial Aid

How Much You Should Save in a 529 Plan

June 29, 2020 Jordan RothmanAdvice for Parents

This website has previously discussed how parents can save money in a tax-advantaged 529 account for their kids’ educational expenses. Indeed, a previous article noted how anyone can make a contribution to a 529 account, and this could be a good substitute for giving gifts to a child. Although there are many opinions on the internet about saving goals for 529s, there are a few things you should keep in mind when evaluating how much… Continue Reading How Much You Should Save in a 529 Plan

Living in a Dorm is Worth the Money

June 22, 2020June 22, 2020 Jordan RothmanAdvice for Parents, Saving Money

Most college students live in residence halls on campus for at least the first year or two of their studies. It is usually thought that dorm life is preferable for students starting their college careers so that they can meet people and have easy access to dining halls and other campus facilities. Of course, living on campus is often more expensive than most off-campus living options, and the amenities of on-campus living are often limited.… Continue Reading Living in a Dorm is Worth the Money

Dealing with Medical Costs and Student Loans

January 20, 2020 Jordan RothmanRepayment Strategies, Saving Money

This website has already discussed how students may have a difficult time paying for medical costs, since they have little disposable income. Of course, medical expenses may impose an unexpected hardship on people, and students are oftentimes affected the most by medical expenses because they do not have steady income. In addition, dealing with medical costs and student loans can be especially difficult for many student debt borrowers. However, by keeping a few things in… Continue Reading Dealing with Medical Costs and Student Loans

Getting Student Loans in a Hurry

December 30, 2019 Jordan RothmanAdvice for Parents, Choosing Schools

Anyone with student loans understands how the process of obtaining student debt is extremely complicated. Not only do student debt borrowers typically have to complete financial paperwork with their schools, but they have to submit paperwork with student loan lenders as well. Sometimes people need to secure student loans on short notice because they just got admitted to a program or their circumstances change. However, if you keep a few things in mind, getting student… Continue Reading Getting Student Loans in a Hurry