College Financing Information for Teens : Tips for a Successful Financial Life

by Elizabeth Magill (Editor)

Overview

According to the U.S. Department of Education, many students-especially those whose parents never attended college-assume that a postsecondary education is out of their financial reach. While it is true that the costs associated with college keep increasing, the options for financing education have also increased. As the number of options have grown, however, so has the confusion, and many teens find themselves in a state of bewilderment when considering the vast array of scholarships, grants, loans, deferments, work-study programs, and education benefits associated with specialized interests.

Product Details

ISBN-13:	9780780812147
Publisher:	Omnigraphics, Incorporated
Publication date:	09/30/2011
Series:	Teen Finance Series
Pages:	400
Product dimensions:	7.50(w) x 9.50(h) x 1.20(d)
Age Range:	14 - 17 Years

Table of Contents

Preface ix Part 1 Is College In Your Future?
Chapter 1 Assessing Yourself And Your Future 3 Chapter 2 Getting Ready For College: An Action Plan For Students In Grades 8 Through 12 9 Chapter 3 Making The Most Of High School 21 Chapter 4 What You Need To Know About Standardized Testing 35 Part 2 Your Role As An Education Consumer Chapter 5 Understanding College Costs 53 Chapter 6 Finding The Right College 67 Chapter 7 The Wrong Reasons To Choose A College 79 Chapter 8 Choosing A Career Or Vocational School 83 Chapter 9 Community Colleges 93 Chapter 10 Study Abroad 107 Part 3 Saving For College Chapter 11 It Pays To Save For College 121 Chapter 12 Myths About Saving For College 129 Chapter 13 Section 529 Plans: Prepaid Tuition And College Savings Plans 143 Chapter 14 Coverdell Education Savings Accounts 155 Chapter 15 Custodial Accounts and Trusts 163 Chapter 16 Loyalty And Affinity Programs 179 Part 4 Paying For College Chapter 17 Cash For College: Answers To Your Questions 185 Chapter 18 FAFSA: Free Application For Federal Student Aid 199 Chapter 19 College Scholarship Service: Financial Aid PROFILE 213 Chapter 20 Should I Pay Someone To Help Me Find Or Apply For Student Financial Aid? 217 Chapter 21 Understanding A Financial Aid Award Package 223 Chapter 22 Questions And Answers About Scholarships 226 Chapter 23 How To Find And Apply For Scholarships 231 Chapter 24 National Merit Scholarship Program 245 Chapter 25 Student Grants 253 Chapter 26 Watch Out For Scholarship And Grant Scams 261 Chapter 27 Working To Pay For College 277 Chapter 28 Tax Benefits For Families Who Pay For Higher Education 281 Part 5 Borrowing Money For Education Chapter 29 Student Loans 287Chapter 30 PLUS Loans (Parent Loans) 301 Chapter 31 What You Need To Know About Repaying Education Loans 305 Chapter 32 Student Loan Consolidation 315 Chapter 33 When Can Student Loans Be Cancelled? 323 Part 6 Financial Aid For Students With Specialized Interests Chapter 34 Financial Aid For College-Bound Athletes 333 Chapter 35 Financial Aid For Students In Nursing And Health Profession Programs 343 Chapter 36 Loan Cancellation And Deferment Options For Teachers 353 Chapter 37 Education Benefits Of Service: AmeriCorps And Peace Corps 359 Chapter 38 Education Benefits For Members Of The Armed Forces 377 Part 7 If You Need More Information Chapter 39 Directory Of Financial Aid Resources 403 Chapter 40 Directory Of State Higher Education Agencies 411 Index 423

Editorial Reviews

This volume is intended to help teens and their families make good choices about financing postsecondary education. Unfortunately, it misses its mark. The content arrangement is disorderly and perplexing, with small pieces of financial information scattered throughout chapters that otherwise do not deal with finances and would be better suited to a resource addressing the selection of college programs. Adding to this confusion is a lack of clarity regarding the intended audience. Though the book is touted to teens, the narrative frequently switches—without explanation or warning—to addressing their parents. Much of the content is incomprehensible to anyone not already comfortable with investment and education tax outcomes, and solid, practical advice regarding credit cards, budgeting, personal finance, thrifty living, and finding side income is given only brief consideration. Aside from an extensive section detailing federal financial aid and a guide to scholarships, little actionable information is provided. VERDICT This reference work contains information too general to be of much use and is composed in a manner that is completely unappealing to its target audience.—Lauren de Bruin, Alberta Lib., Edmonton

Library Journal

Gr 10 Up—Though drab and uninviting in appearance, these updates offer students facing college and/or independence a mind-boggling amount of financial advice and background information. The articles in Debt are culled mainly from government documents published or themselves updated over the past four years (through mid-2011). They provide coverage ranging from general and statistical overviews of U.S. coinage and monetary policy to more personally relevant procedures and best practices related to budgeting, checking and savings accounts, identity theft, borrowing, credit cards, and resolving various debt-related problems. Paying for a car and for college are discussed in individual chapters. The latter topic is treated in massively more detail in College, which likewise reprints or collects extracts from (mostly) government documents to offer guidance on preparing for and choosing an institution, educational alternatives such as study online or abroad, specialized savings accounts and programs, and applying for grants and loans. Both volumes close with lengthy lists of relevant organizations and online resources. Tamsen Butler's Complete Guide to Personal Finance: For Teenagers (Atlantic, 2010) takes a livelier, more readable approach to the subject, and College Financing is nowhere near as comprehensive a sourcebook as the latest edition of the classic Scholarships, Grants & Prizes (Peterson's, 2011). Still, both topics are of consuming importance to teens, and even the stodgiest treatments may be of help in taking that next, giant step.—John Peters, Children's Literature Consultant, New York City

School Library Journal