Local News
MONEY: People should file FAFSA as soon as possible.
There is a way for everyone to afford going to college, says Andy Leardini of the College Financing Group.
As spring approaches and acceptance letters are opened, college bound students and their families may be concerned about how to pay for a college education. But, as Leardini told the Union-Sun & Journal on Friday, everyone can afford college, no matter the income level. But people should file the Free Application for Federal Student Aid as soon as possible, he advised.
With more than 10 years of educational lending experience, Leardini and partners Rick Ross and Nancy VanZetta started the College Financing Group back in November. The firm specializes in helping parents and students with the college financial aid process, determining options and providing advice to families. Visit the group’s Web site at www.collegefinancinggroup.com.
QUESTION: What is the best way to start looking for ways to pay for college?
ANSWER: It all starts with contacting the school of your choice, their financial aid office. Begin the process of the Free Application for Federal Student Aid that will make you eligible for the federal loans that are available along with any federal grants.
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Q: Have you noticed any change in the difficulty of getting a student loan?
A: There were initially some reports that access to student loans would be an issue. But through the federal Stafford, or direct, loan program? As long as you complete the up front paper work, the FAFSA, incoming freshmen will be eligible for up to $5,500 in Stafford loans.
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Q: For those who filed the FAFSA earlier in the year, can they make changes now?
A: Yes. It’s called special circumstances. A lot of the information that they supplied is from prior years, 2008 tax information is what they would be supplying. So if something were to change in terms of special circumstance, such as divorce, loss of job or income, or the death of a parent, it is in their best interest to make the financial aid office of their school of choice aware of that information. That’s so they can make changes to the financial aid package.
A lot of that is just documenting information. A FAFSA can be filed anytime after Jan. 1, but check with schools for their deadlines. The earlier, the better.
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Q: Do you see a lot of families wondering how they’re going to pay college?
A: The majority of families are in that boat and have to take on additional debt to finance their child’s education. There is a lot of stress, but there are affordable, cost-effective options for families to finance their child’s education.
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Q: What kind of help does a group like College Financing offer?
A: A group like ours, we help families through the process. More than ever in this economy, people are losing their jobs or taking a pay cut, which affects the financial aid formula. We do everything from start to finish. We’ll help them with the preparation of the forms, we then sort of educate them. We go through financial options and help them go through the package. No matter what their income level is, the most important thing is to complete the FAFSA.
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Q: Any advice for families?
A: It’s not to late to apply. No. 2, if they’re struggling, and they don’t have the time, energy or they’re stressed out with the process, that they would contact someone like us. It’s an objective resource to help them understand how to afford the college of their son or daughter’s choice. We’ve helped a lot of families who thought they might not be eligible for financial aid but ended up getting some aid.
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