My oldest is just two years away from going to college. Yikes! How did that happen so fast? She wants to go to art school so I’ve been researching art and design colleges for her. To get in, she needs to focus on her art portfolio. Winning art competitions will make her more competitive as well.
Visiting Rhode Island School of Design museum with her about-to-turn-80 grandmother!
Our next steps are visiting art and design colleges. We’ll see a few when we go to California this summer for my mother-in-law’s 80th birthday party, and we need to go to New York City to visit a few more. This summer, she will do the Pre-College program at Rhode Island School of Design.
My daughter at Mass College of Art Xtreme Week Teen Art Program.
Once she decides where to go and hopefully gets into her top choice, there’s the matter of paying for college. My husband and I have put away some money for her in a 529 college savings plan, but if that’s not enough, there are other options besides student loans.
Today, I’m going to examine about the College Ave Student Loans Parent Loan. It’s a great option for parents who may need to consider borrowing or cosigning a private student loan if savings, scholarships and federal aid fall short of higher education costs.
Learning to draw with her amazing instructor, Kevin, at Mass College of Art Xtreme Week for Teens.
How does it work? College Ave Student Loans has a new Parent Loan, which offers savings over Federal Plus Loans. There is no origination fee and a lower fixed interest rate than the federal program, so qualified parent borrowers save an average of $1,000 vs. the Federal Direct Parent Plus program. Want to calculate how much a loan costs? The best way to find out is to use the College Ave Student Loans qualification tool.
The College Avenue Student Loans Parent Loan also allows the parent to have some control over the money and repayment. There is an option to get up to $2,500 deposited directly into parents’ bank accounts so that parents can control the spending for extra education expenses like books, electronics, dorm supplies and more. Parents also have the option to start paying in full right away, or to limit monthly payments while the student is in school, and to pick their own repayment terms from 5 to 12 years.
Is this a good option for you and me? College Ave Student Loans, along with their partner Experian, is offering a limited time joint offer of a credit health check — a complimentary, personalized credit education session with an Experian Credit EducatorSM agent — to families preparing to pay for college.
The personalized credit education session offers an in-depth, one-on-one, 35-minute phone call with an Experian Credit Educator agent. During the session, parents will receive a copy of their Experian credit report and score and a personalized, step-by-step walk-through of the report, as well as examples of actions that may improve their credit score and insights for future credit management decisions.
Families who may want to explore private financing options should start getting ready now. For more information about how to access the free credit education session, visit here.
How about you? Are you getting ready to look at colleges for your kids too?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.