If you are a single parent in PA struggling with the idea of financing college for your children this article is a must read!

http://www.helium.com/items/1899990-a-guide-to-college-loans-for-single-parents-in-pennsylvania

Videos are now accompanied with these traditional forms of acceptance into college. This article highlights Tufts University were about 1,000 out of 15,000 applicants have provided videos with their essays, which they showcased some form of talent, interest or simply explaining who they are! I think this is pretty cool and shows how advanced this generation is. I also think it gives an individual an opportunity to really separate themselves from other candidates.

Check out some of the videos here: http://www.nytimes.com/interactive/2010/02/22/education/tufts.html

A 529 is a tax advantage investment plan designed strictly for higher education savings. All withdrawls from the plan will be exempt from federal taxes. Each state that offers the plan determines the structure and which investment options are offered.

There are two different types of plans: prepaid tuition and savings. Prepaid tuition allows the pre-purchase of tuition based on todays rate and then paid out at the future cost when the child goes to college. The performance of the plan is based off of tuition inflation. I believe this plan is onlt offered in 13 states. Also this plan must be used in the state of purchase.

A savings plan is based on the performance on the market performance of the underlying investments, which are typically mutual funds.

one disadvantage to these plans are that they are strictly designed for higher education. So in the event that your child decides to go to culinary school, open a business after high school, or get a full scholarship. these funds have to be used for tuition. However an added feature is that you can change the beneficiary to someone in your immediate family.

Those of you with questions or concerns check out these two websites.

     http://www.savingforcollege.com

     http://www.collegesavings.org/index.aspx

I just want to apologize for my lack of consistency with my posts. Business has been very busy for myself due to the year end. However to make sure that I'm giving you the information that you want, I'm going to need your assistance.

Let me know what topics you would like more information on, as well as any concerns or questions that you may have that I can help you with. I look forward to hearing from you all!

Student loans are a great source to fund your education but understand that they are a debt that must be repaid. Student loans are unique because they have some special features. For instance you often get an attractive interest rate and almost any student can borrow some money, regardless of income or credit history.

Some of the most common student loans: Perkins loans, Stafford loans and PLUS loans. Perkins loans should be on the top of your list because of their low interest rates that are fixed (meaning they do not fluctuate) Stafford loans are easy to qualify for in most cases. PLUS loans are unique because you can get really large loans depending on the cost of school. Interest rates are higher and fees are attached as well.

To get a student loan, you must first fill out the free application for Federal Student Aid also known as FAFSA. Submitting your application ASAP allows you to receive estimates and also correct the details later. After completing the application contact your schools financial aid office and ask what kind of aid to expect.

As I mentioned student loan must be repaid, typically repayment begins 6 months after your graduation date or if you are no longer enrolled into an institution. Your lender will set up an amortization re-payment schedule which allows you to pay the debt off over time. A portion of the payment covers the interest you owe and a portion of the payment pays down your principal.

Now if you come into some tough financial times you can postpone your repayments of your loan under a variety of conditions this is defined as deferment. This is a luxury that you have to qualify for. Some of the most common deferments are unemployment, in-school deferments, military and career related. However if you don’t qualify for deferment you still have some alternatives: loan consolidation restructures your payments to make them more manageable, you can request specified payment days ex: (the 15^th of every month), and finally you can request a temporary forbearance.

Link to Federal Student Aid website http://www.fafsa.ed.gov/