- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Introduction
- Decide How Education Relates to Your Financial Goals
- Understand the Principles of Financing Education and Missions
- Understand the Priority of Money for Financing Education
- Recognize How to Save for Your Children’s Education
- Recognize How to Save for Your Children’s Missions
- Know How to Reduce the Cost of Education and Apply for Aid
- Summary
- Assignments
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Know How to Reduce the Cost of Education and Apply for Aid
The following list outlines some ways that you can reduce the cost of education and apply for financial aid.
- Begin planning early for your children’s education and missions. I recommend parents begin saving for their children’s education and missions as soon as the children are born. Various investment vehicles that are available to help you save for educational purposes have been discussed.
- Fill out the FAFSA on the Internet at www.fafsa.ed.gov during your child’s junior or senior year of high school. Follow the instructions and take action early (usually after your federal tax forms are completed). If the process seems stalled or if you have additional questions, you are welcome to call (BYU) 801.422-4104 and request to speak directly to your personal financial aid processor. Or you may call BYU Financial Aid at 801.422-4104.
- Talk with the financial aid office representatives at your school during your child’s senior year of high school. These representatives will guide you through the application process and help you determine your eligibility for aid.
- Look on the web for other sources of available aid. The following are some helpful websites that offer information about financing your education:
- FinancialAid.byu.edu
- Scholarships.byu.edu
- www.fafsa.ed.gov - Free Application for Federal Student Aid. This form must be filled out for any federal financial aid.
- www.fastweb.monster.com – matches student profiles to a database of scholarships.
- www.collegeboard.com – connects student profiles to a database of scholarships, internships, and loans.
- www.srnexpress.com – contains resources on scholarships, fellowships, internships, and loan forgiveness programs.
- www.wiredscholar.com – a good website for college preparation and information.
- www.finAid.org – a comprehensive site that has information on loans, scholarships and savings plans.
BYU Financial Aid Office Counseling Office (801-422-4104). To have your federal aid in place by fall semester, it is wise to submit the FAFSA by June 1 the same year, unless you are planning to marry; make an appointment with a counselor if you have questions.
