Want to save 50,000 on college tuition? Laura Gilbert navigates you throug the challenges of affording a college education and being finicially sound after graduation.
Q: What's the difference between a loan and a grant?
A: A grant is a gift - you do not need to be it back. A loan will always need to be paid back.
Q: Do you have any advice for high school seniors to start saving money now, before entering college?
A: You can start small. Cut out a cup of coffee or a snack a day and put that money aside. If you started saving $10 a day as freshman in high school, you would graduate with over $14,000 dollars to put toward your education.
Q: Can parents transfer loans to their children after graduation?
A: No, if you take out a loan or cosign on a loan for your child, you are responsible for it even after the child graduates.
Q: What is the best way to save money at college?
A: Consider going to a community college to start and then transferring to a 4-year university for your degree. You can save a lot of money that way.
Q: What are CLEP tests?
A: CLEP tests are specialized tests in individual subjects that allow you to earn college credit. Many schools accept the test scores as credit which means you need fewer courses to get your degree and less money!