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Educational loans : How to Have the College Finance Talk with Your Children

Talking about Educational loans isn’t easy. Just remember: You’re not doing this to turn the "dream" school into the "school that requires the least debt" – though that's not a terrible dream. It's to set your child up for success, not only during school but also after he or she graduates. <br>http://www.avanse.com/avanse-education-loans/

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Educational loans : How to Have the College Finance Talk with Your Children

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  1. Educational loans

  2. How to Have the College Finance Talk with Your Children

  3. "The talk." Those two words could refer to any number of troubling things: relationship problems, work issues or a midday TV gabfest. • However, for parents sending kids to college, "the talk" refers to one thing: how to pay for it. Likely, the answer will be "with student loans." • Also likely is that parents will oversee the process by filling out the Free Application for Federal Student Aid, known as the FAFSA, and loan paperwork themselves. • If you haven’t helped your children understand what they’re borrowing, it’s getting late – but not too late. Here are four steps to start talking.

  4. This Student Loan Ranger has never had this talk with his children, because he won’t even have one until about a month from now. • And while I secretly hope this whole "college cost" thing is figured out in 18 years, I worry you thought the same thing back in 1994. Let’s help both of us out by running through how to talk about loans. • 1. Put it on the calendar: Before you get to the "fun" stuff, set your conversation up for success by carving out some official time for it. Don’t just grab your daughter for a random kitchen table sit-down. • Instead, tell her in advance that you’d like to talk about paying for school on "X" date. You can even let her choose a favorite restaurant or other location for the chat, so she feels engaged and comfortable.

  5. 2. Know your number: Before your meeting, think about how much your family should borrow. • Finding that number can be tough, but a good ceiling is the annual maximum for undergraduate federal student loans: $5,500 for first-year students, $6,500 for second-year students and $7,500 for years thereafter.

  6. Talking about Educational loans isn’t easy. • Just remember: You’re not doing this to turn the "dream" school into the "school that requires the least debt" – though that's not a terrible dream. • It's to set your child up for success, not only during school but also after he or she graduates. • Ultimately, how much educational debt to take on is a personal decision for each family. • So, if you haven’t already talked about it with your son or daughter, you need to start today. Sorry, only I have 18 years left to prepare. • Source: http://bit.ly/1htiDlA

  7. Follow us on https://www.facebook.com/AvanseEducationLoan https://www.linkedin.com/company/avanse-financial-services https://twitter.com/avanseeduloan https://plus.google.com/+AvanseFinancialServicesLtdMumbai https://www.youtube.com/channel/UCcsuUx1EH1C08XmX2embpug

  8. Read more on Education Loans : http://www.avanse.com/avanse-education-loans/ • Thank You..!!!

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