Paying for education
Four myths from MoneyCoach about college financial aid
While the cost of college is daunting, education is still a great investment for most people. The College Board, a nonprofit association that administers the SAT, reports that high school graduates who go on to earn a bachelor's degree have the potential to earn $800,000 more during their lifetime.
4 myths about financial aid
Paying for college can be challenging. Financial aid and scholarships are the most common form of assistance to students, but often are misunderstood and ignored. Here are four myths and misconceptions about financial aid to consider:
- You can't qualify for financial aid if you make too much money.
- Financial aid is a loan that must be repaid.
- You must complete your income tax return before applying for financial aid.
- There are hundreds of millions of dollars in unclaimed scholarships.
Get the truth on how to plan and pay for a college education at MoneyCoach, a free online financial education service for STCU members and friends. Go to MoneyCoach, answer a few questions and enroll for free. Choose the "Paying for education" category to learn more about financing your education.
There's no sales pitch at MoneyCoach, just valuable information and tips on how to chart a solid financial plan for you or your family. Be sure to try the pop quizzes!
Additional resources
Open a Coverdell education savings account at STCU for a child. Contributions accepted until the student's 18th birthday and earnings are tax free when used for education expenses. Learn more.
The products and services offered by partners of STCU are not endorsed or vouched for by the credit union. STCU accepts no liability in connection with their use.
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