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Search resuls for: "Karen McCarthy"


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Many students take what's known as a gap year before attending college for a variety of reasons. While the practice is more common in the United Kingdom and other European countries, gap year interest is growing in the U.S., according to the nonprofit Gap Year Association. Others may take stock of their admission offerings and financial aid packages and decide they want to try their luck in the next application cycle. As many students and families anxiously await delayed financial aid offers due to hiccups in the Free Application for Federal Student Aid process, taking a gap year could help give some students more time to weigh their college decision. You also may be banned from applying to other colleges if your place is being held at one school.
Persons: Karen McCarthy, you've Organizations: Federal, National Association of Student Financial, CNBC Locations: United Kingdom, U.S
The Free Application for Federal Student Aid, better known as FAFSA, typically opens on Oct. 1, but this year families will have to wait until December. The form — which uses parents' income and a litany of other information to determine a student's need for financial aid — is being updated, and hopefully, simplified. However, implementing those changes means students and families will not be able to apply for aid for the 2024-25 school year until December 2023. "[The Department of Education] is concerned that once October comes around, people will start looking for the FAFSA," McCarthy says. But the change in schedule could have some families concerned about what it means for their student's financial aid package.
Persons: , Karen McCarthy, McCarthy Organizations: Federal Student Aid, Department of Education, National Association of Student Financial, CNBC
How to Pay Off Your Student Loans Fast
  + stars: | 2023-09-10 | by ( Rebecca Safier | ) www.wsj.com   time to read: +11 min
5 strategies to pay off your student loans ahead of scheduleMore than half of students take out student loans to pay for college, with the average debt load upon graduation totaling nearly $30,000. Be cautious about refinancing federal student loans: Doing so means sacrificing federal repayment plans and other protections. Pay off interest during school and your grace periodInterest starts accruing on most student loans, such as federal unsubsidized loans and private student loans, from the day they are paid out (known as the disbursement date), usually at the beginning of each semester. Pursue student loan forgiveness and assistanceIf you’re open to switching jobs, consider pursuing a role that would make you eligible for student loan forgiveness or assistance. If you have federal student loans, you may need to set up autopay again before the payment pause ends in October.
Persons: Rebecca Safier, you’d, , , Karen McCarthy, Let’s, you’ll, Biden, Michael Lux, Joe DePaulo, McCarthy, autopay, forbearance, It’s, you’ve, Jan Miller Organizations: National Association of Student Financial, Public, Student Loan Sherpa, College Ave
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