Rhinebeck Blogger David J. Albahary’s The Green: Acceptance Letters

The Green –  Re: Acceptance Letters

Well, it is that time of the year again when families anxiously await college acceptance letters.  And, so often, assuming your child gets good news from a college or university that he or she is applying to in the form of a financial aid award letter, there is a lot of confusion as to what is a “free” ride as opposed to what is actually not so “free”.  Some colleges make it look like everything is paid for when in reality a lot of it is fluff filled with unsubsidized student and PLUS loans.  With interest rates ranging from 6.8% to 7.9% on these loans this is hardly a “free” ride.  In fact, some might call it plain, old, capitalistic thievery.  Be smart about what are the best options for your family by exploring all of your families’ possibilities when it comes to replying back to these acceptance letters.  A truly good financial aid award letter should include the following:  Cost of Attendance, Scholarships and Grants, Loans and Loan types, Net Amount to Pay, and EFC (Federal and Institutional).  If you are still confused about what it is actually going to cost you, both now and later, consult a professional in your area for help.


David J. Albahary, CFP®, CCPS founded College Planning Connections, LLC in 2012 to help make college more affordable for families. 

David is a Registered Investment Advisor with over a decade of experience in the financial service industry. He is a Certified Financial Planner™ and a Certified College Planning Specialist. In addition to being a member of the Financial Planning Association (FPA) and the National Institute of Certified College Planners (NICCP), he is a member of the National College Advocacy Group (NCAG) which is a non-profit organization responding to challenges facing college bound students and their families.

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