Money Matters: Financial aid and student loans
February is financial aid awareness month! As college acceptance letters roll in, parents and students have to create a financial plan to pay for the ever-increasing cost of higher education. Barry Bigelow from Great Waters Financial joins us to discuss financial aid and student loans. He answers questions, such as:
Q: Why is it important for families to discuss financial aid?
Q: When students get their financial aid award letter, what should they pay attention to?
Q: What is happening with student loan forgiveness?
Q: Once payments resume, what strategies can borrowers use to tackle their outstanding student loans?
Q: If parents want to help their kids pay for college, should they put off saving for retirement to do so?