Last week, my wife saw a segment on Spectrum News, Charlotte, about understanding financial award letters. She forwarded the link to me to share with y’all. It’s about translating financial aid award letters.
Award letters can be very confusing for parents and future students. College Foundation of North Carolina has published a guide to understanding award letters. It helps to understand what a college offers and what will still need to be paid for by the student or family.
The article (at https://www.cfnc.org/news/financial-aid-award-letter/) promotes North Carolina programs but has excellent information for anyone in any state. It explains the Cost of Attendance, what has been awarded, and additional financing programs for which you may be eligible. It also lists the expected family contribution. With this information, you can compare multiple schools that have offered money to you for your attendance.
Beware, however. The additional financing programs include loans. Loans are where you can quickly get into trouble. Many students thoughtlessly signed up for student loans and are now in bondage to large payments. When you borrow to go to school, the total cost of schooling increases exponentially and often beyond the benefit gained through your education.
My book is titled “Say No! to College Debt” for a reason. Debt is a bondage from which many are unable to gain release. You don’t want to go there. Like I have said many times, say no to loans. God can provide in many ways, but debt is not His usual method.
Thanks for reading, and please pass this on to anyone you know who could use it. And may God bless your efforts to achieve financial freedom as it leads to spiritual freedom.
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