Experts have been saying for years that it’s much less expensive to save for college than it is to borrow money to cover the costs of your higher education. To see the huge difference between the two options, read the Saving vs. Borrowing page at OK4Saving.org.
One savings option you’ll want to check out is the Oklahoma 529 College Savings Plan (OCSP). Here are a few benefits of the OCSP:
- It’s a tax-deferred account
- Multiple family members and friends can contribute to the account on your behalf
- It can pay for more than just tuition (it can cover fees, some room and board costs, etc.)
- It can be used at any accredited college in the U.S., and even certain colleges abroad
- There are several contribution options available that make adding to your OCSP easy and convenient
- An OSCP can be opened with as little as $100
- You and others who contribute to your account can save as much as $300,000 for your education
- Parents and grandparents can enter the Newborn Sweepstakes for a chance to win a $5,549 contribution to a newborn’s account. The sweepstakes ends April 14, 2018.
Visit OK4Saving.org to learn more.
StartWithFAFSA.org is part of the outreach initiative at the Oklahoma College Assistance Program (OCAP). OCAP provides college access, aid awareness, financial literacy and student loan management services that benefit students, parents, schools and community partners. OCAP’s initiatives include UCanGo2, Oklahoma Money Matters and Ready Set Repay, each of which offers resources and tools designed specifically for you, including:
College Planning Checklists – provide high school students detailed information about the steps they must take not only to gain admission to a college or university, but also to be successful in high school and college. From what classes to take to financial aid application guidelines, these checklists offer useful information for every high school student.
Your Money Matters Guides – designed to help students and adults manage finances, each guide is tailored to provide specific information based on your current financial situation.
Borrow Smart from the Start – provides information to help students understand the smart and responsible way to borrow student loans. Whether you’re preparing for college and considering student loans for the first time, in your grace period or currently repaying your loan, this publication provides everything a student loan borrower needs to know before borrowing.
Each of our initiatives offers a variety of information and resources designed to fit your needs. Check out our publications/resources pages at UCanGo2.org, OklahomaMoneyMatters.org and ReadySetRepay.org to find more useful tools and information.
Well, who isn’t? Let’s rephrase to be more specific. Are you looking for money for college? If so, you should check out UCanGo2.org where you’ll find dozens of resources to help you plan, prepare and pay for college. Here are some of the highlights:
Find hundreds of scholarships organized by deadline or category, and don’t forget to check back weekly for UCanGo2’s Scholarship of the Week!
Are You Looking for Money is UCanGo2’s signature financial aid guide with specific information about Oklahoma’s programs. It offers information about grants, scholarships, work study programs, and student loans.
Finish the FAFSA in 5 Steps is a step-by-step guide designed to help students and their parents submit the Free Application for Federal Student Aid (FAFSA) in just five simple steps.
Whether you’re in sixth grade or 12th grade, UCanGo2 is here to help you determine your next steps for preparing for college. From what classes to take to when to apply for financial aid, the high school and middle school checklists offer useful information for every student.
Bonus! A complete list of our FAFSA tools for students and parents, including FAFSA Facts and the Dependency Questionnaire, can be found in the resources section here at StartWithFAFSA.org/resources.
Completing the Free Application for Federal Student Aid (FAFSA) has never been easier. However, there’s one mistake students and their parents continue to make.
Each year, many families don’t complete the FAFSA because they think they make too much money to qualify for aid. Counting yourself out before even starting is a huge mistake! Even if you think you won’t qualify for aid, you should still submit the FAFSA.
- You could be missing out. Billions of financial aid dollars are offered every year. Those funds will be awarded to someone… and that “someone” could be you. But you’ll never know if you don’t apply!
- There’s no obligation. You’re not required to accept the aid offered to you. You’ll have the option to decline any aid offered, or you may choose to limit how much you borrow.
- Your school might use the data. Some schools use the data on your FAFSA to award school-specific grants and scholarships. So, beyond federal funding, you could take yourself out of the running for school aid by choosing not to submit the FAFSA.
- Federal student loans offer options. Even if you know you’ll only qualify for student loans and you’re unsure about borrowing money for school, federal loans could be your best option. Federal student loans often have lower interest rates than private or alternative loans, and they offer flexible repayment plans. They’re also a better option than high interest credit cards.
Wouldn’t it be great if you could find that pot o’ gold at the end of the rainbow to help you pay for college? As luck would have it, a free ride to college just isn’t in the cards for most folks. Your next best bet is to submit the Free Free Application for Federal Student Aid (FAFSA). By submitting the FAFSA, you’re able to determine how much federal and state aid you may be eligible to receive to help pay for college.
Already submitted the FAFSA? It’s never too late to start applying for scholarships. Be sure to take advantage of the helpful information provided in UCanGo2’s Scholarship Success Guide to help you as you go.