by Shannon Vasconcelos, former financial aid officer at Tufts University

College is expensive. I’m confident that this is news to exactly zero parents reading this article. But what we sometimes fail to appreciate as parents is the control that we, along with our children—the college consumers—have over college costs, even after a college choice has been made. While it’s true that students and parents don’t get to vote on tuition prices (boy, would that be nice!), we do have significant power over the large and small choices that can end up increasing or decreasing our child’s educational costs significantly. Here are a handful of ways you can save money as your child prepares to head off to school, and throughout their college enrollment.

by Shannon Vasconcelos, former financial aid officer at Tufts University

Parents are increasingly sacrificing their own retirements in favor of their children’s educations. As discussed in the Boston Globe, three-quarters of parents report a willingness to delay retirement in order to pay for college, and, in fact, by 2024 nearly a quarter of those over age 65 are anticipated to be either working or looking for work, almost twice as many as in 1984, the increase aided in no small part by ballooning college tuition rates.

With the decision deadline of May 1 in the rearview mirror many families are trying to figure out ways to cover unmet college costs. Did your student receive a federal direct loan on their financial aid award letter? Parents, are you considering borrowing from the Parent PLUS Loan Program to finance your share of the tuition bill? In this video, finance educator Shannon Vasconcelos explains what it means to borrow a direct loan.

by Shannon Vasconcelos, former financial aid officer at Tufts University

Attention high school seniors, continuing college students, and all of their parents: In news coming out of the U.S. Department of the Treasury today, we now know what federal student loan interest rates will be for the upcoming school year. 

by Shannon Vasconcelos, former financial aid officer at Tufts University

The COVID pandemic has upended the world of college admissions in all sorts of ways. You may have read recently about the tremendous upsurge in applications at some of the most selective schools in the country, but those positive numbers only tell a limited part of the “admissions in the age of COVID” story.

by Shannon Vasconcelos, former financial aid officer at Tufts University

February’s here, and in Hollywood, that means awards season—the Golden Globes, Screen Actors Guild, and the Oscars—and a chance to celebrate the best films of the year. Now, maybe this year spent in quarantine has affected our brain chemistry, but, here at Bright Horizons College Coach, we’re beginning to think we could give Brad Pitt and Angelina Jolie a run for their money on the red carpet. Therefore, we’ve decided to break out the virtual glitz and glamour, and launch our own contribution to awards season. Over the next week, we will celebrate the best and brightest in the world of college admissions and finance. 

As admission decisions start to roll in, students across the country are receiving both good (accepted) and bad (denied) news. And along with these clear-cut outcomes, many students are receiving some ambiguous news: yes, you’ve been accepted, but no, we are not awarding you enough financial aid to actually allow you to attend. This type of result can be the worst of all for families, as it often puts parents in the heartbreaking position of having to say no to their child’s dream school. Is there, however, any other option?

Paying for college for a child is a challenge, let alone paying for college for two or three or four children. Does the financial aid formula account for the added cost of raising and educating multiple children? Find out in the latest article on the Edmit blog by Bright Horizons College Coach finance consultant Shannon Vasconcelos.

by Shannon Vasconcelos, former financial aid officer at Tufts University

Winter is an exciting time for high school seniors and their parents. Even (and maybe especially) in this unusual year, the receipt of a college acceptance is cause for celebration. For many families, however, the initial elation of a college acceptance is quickly tempered by the receipt of a financial aid offer and the realization that, even after the awarded financial assistance, a given college’s cost is still out-of-reach for your family. While disappointing, that inadequate financial aid offer is not necessarily the end of the story, nor the end of your child’s relationship with that school of choice. The college aid application is, while daunting, necessarily limited in scope and does not paint a complete picture of many families’ financial circumstances, especially in these complicated times. For that reason, colleges are given latitude to use their discretion in considering families’ special circumstances when awarding both government and institutional aid. Consider if you may have had any of these special circumstances that would warrant an appeal to the Financial Aid Offices for special consideration:

by Shannon Vasconcelos, former financial aid officer at Tufts University

If you’ve been within shouting distance of a TV, computer, tablet, phone, or newspaper today, you’ve likely heard that Congress passed an omnibus spending bill last night, including a COVID relief package. What you may not have heard much about yet is a number of significant changes to federal financial aid programs included in the legislation.  More details will be forthcoming, and the bill is still pending President Trump’s signature, but, for now, here are the major provisions in the bill that may directly or indirectly affect how students and parents pay for college: