Sallie Mae How to Pay for College: A Practical Guide for Families by Gen Tanabe, Kelly Y. Tanabe

Acknowledgements     6
Introduction     15
The Sallie Mae Fund     17
How Are We Going to Pay for College?     19
The Myth About Paying for College     20
How Is This Book Different from Others?     20
Who Is Sallie Mae?     23
You Are Not Alone     23
How Much Does College Really Cost?     25
What the Headlines Don't Tell You     26
The New Reality: Few Families Pay Full Sticker Price     26
Where to Find Your College's Price Tag     30
Long-Term Planning     31
College Education as an Investment     32
How Much Financial Aid Will We Get?     35
Even the 'Millionaire Next Door' Qualifies for Financial Aid     35
The Financial Aid Cornucopia     36
The Financial Aid Process Demystified     37
The Power of the EFC     40
Parent Income: The Largest Factor     40
Parents' Assets     47
Parent Income + Assets = Parent EFC     50
Your Child's Contribution     51
Your Total EFC     52
Financial Need-A Moving Target     53
FASFA or CSS/PROFILE?     53
The Financial AidAdministrator: The Human Behind the Process     54
How Do We Apply for Federal Financial Aid?     63
Filling Out the FAFSA     63
The FAFSA, Line by Line     69
Your Information Is Subject to Verification     109
The CSS/PROFILE     109
How Do We Choose the Best Financial Aid Package?     111
The Financial Aid Award Letter     111
Evaluating the Award Letter     119
What If It's Not Enough?     129
Accepting the Award     133
Should We Borrow Money to Pay for College?     135
College: A Worthy Investment     136
The Loan Life Cycle     138
How to Borrow Money     141
Exploring the Federal Student Loan Program     144
Private Loans     149
Choosing a Lender     150
Other Loan Forgiveness and Scholarships for Service Programs     156
Other Places to Borrow Money     158
Borrowed Money to the Rescue     160
How Can My Child Win a Scholarship?     161
Dancing the Scholarship Two-Step     161
Starting the Scholarship Hunt     164
Seven Steps to Winning a Scholarship     169
Scholarships for Special Groups      181
Bringing Back the Money     182
How Can the College Help Us Pay?     183
Dollars from Your College     183
Guaranteed College Scholarships     186
In-State Tuition Discounts     188
Tuition Discounts     190
Pay for College in Installments     191
Emergency Aid: Money When You Need It Most     192
Don't Be Afraid to Ask for Help     192
How Can My State Help?     193
State Scholarships and Grants     193
State Loan Repayment Programs     195
State Work-Study     196
State Higher Education Agencies     196
What's the Best Way to Save for College?     213
Never Too Late to Save     213
Smart Saving Strategies     214
Set Your Goal     215
Reduce Expenses     218
Grow Your Money     223
Impact of Savings on Financial Aid     235
If You're in a Time Crunch     236
Can a Parent Catch a Tax Break?     239
Uncle Sam Wants You-To Have More Money     239
General Precautions before You Claim a Tax Break     240
Tax Credits Versus Deductions     240
Education Tax Deductions     246
Remember Those Bonds?     247
Tax-Free Scholarships and Grants     247
Staying Current with Tax Changes     248
How Can We Make College Cheaper?     249
Spend Less Time in School     252
Work and Learn Together     255
Bottom Line, Be Creative     256
What About the Military or Public Service?     257
Soldiering Your Way to an Education     257
Earning Education Money for Community Service     262
Trade Your Time for College Dollars     263
Financial Aid Scams     265
Keeping Your Money Safe     265
How to Spot a Scam     266
Red Flags of a Scam     270
Conclusion: The Start of a New Journey     273
A Happy Ending     273
Resources from Sallie Mae     277
Contributors     289
Glossary of Terms     294
Index     312
About the Authors and Sallie Mae     320