This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

It’s Decision Time For College-Bound Students

Most college admission decisions will be released by the end of this month, and with an impending reply date in early May, a projected 3.3 million future freshmen and their families are evaluating financial aid packages. Sallie Mae, the nation’s No. 1 financial services company specializing in education, offers tips and tools to help meet the decision deadline.

The financial aid award letter provides a determination of financial aid eligibility and the type, amount and source of aid for the upcoming year. Families can then figure out how much they will need to finance — not just for next year, but for the next four years.

“Students and parents should weigh the cost and affordability of college as a family,” said Charlie Rocha, senior vice president, Sallie Mae. “There are a number of options available and it’s important that they do their homework together in order to best realize their return on the educational investment.”

According to a national study from Sallie Mae and Ipsos Public Affairs, collaboration on college choice was rare: only 15 percent of families said parents and students shared in the decision on where the student will attend. Further, while three-quarters of students and parents agreed they should share responsibility to pay for college, only one-quarter made joint decisions on how to do so.

Evaluating college costs takes more than a side-by-side analysis of financial aid letters, but that’s now easier with a new tool. More than 600 colleges and universities nationwide are offering a financial aid “Shopping Sheet” for the 2013-14 school year. Introduced last summer by the U.S. Department of Education and the Consumer Financial Protection Bureau, the Shopping Sheet presents information about the cost of attendance, financial aid options, graduation rates, and other data in a standardized format.

The Federal Pell Grant is usually awarded to undergraduates who have a high degree of unmet financial need. For the new award year, the maximum Pell award will be $5,645, an increase of $95 from the current maximum of $5,550.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs