About Iasfaa Website

The U.S. Department of Education’s office of Federal Student Aid provides more than $150 billion in grants, loans, and work-study funds for a college or career school each year. Yet many parents have problem with financing the education of their children. This website hope to help parents and students to find all possible options for financing college or any other educational course. This website is run by a couple of parents who have kids still in high school and focusing on the ACT and Regents exams  but we know that soon enough we will struggle with finding information about financial help so we decided to start a blog to educate ourselves and help others. Please come back often to check if we have new information for you all.

How to Evaluate Debt Relief Services

student-loans-infographicThere you are, neck deep in debt with your credit cards and sundry large loans that you have taken in the past – for cars that you have bought, vacations you’ve taken and various poorly considered electronic gadgets that seemed indispensable at the time. You feel strangulated by all the monthly payments that you have to make to these creditors. You’re sure that the time isn’t far off when even making the minimum payments on your credit cards will be too much to afford. That’s when the calls arrive. They are from the debt relief services, and they claim that once you hire them for a small fee, they will go to work for you and arrange to have your monthly payments brought down to a fraction of what they are now. Should you bite?

The debt relief services inhabit a business area that sees a great deal of action today. The economy really hasn’t been recovering the way most people have hoped, and this has pushed vast swathes of the population to the brink. In other words, there is a large audience out there that’s looking for some form of debt relief. Desperate demand such as this is certain to attract fraudulent fly-by-night operators to any business. The financial businesses may even be a little more prone to these types than others.

The basic premise of what they offer you is simple enough. If you are in a very difficult financial position and you owe too much, they will speak with your creditors and find a way to either lower your interest rate or write off part of what you owe.

It does sound encouraging enough in concept. As with most things involving creditors, money, and hopeful-sounding shortcuts though, these things don’t play out well in reality.

As many hapless, financially troubled people have found out, many of these debt relief services are run by confidence tricksters. They have neither the intention nor the means to deliver on their promises. All they do is to charge you several hundred dollars in fees, and tell you to leave all your financial worries to them. If you do as they tell you and stop worrying about making your monthly payments, all you will gain in the process is a bunch of late fees and penalties for not paying. Those people behind the helpful marketing calls will have taken the fees you paid them and disappeared.

From our blog:

How To Avoid Student Loan Debt

stafford-loans-explainedMark Kantrowitz of FinAid.org suggests that college students shouldn’t borrow more than their expected starting salary. But in difficult times, it is almost impossible for students to accurately estimate what they’ll make when they graduate and some remain unemployed for years. There is also a group of studens who attain college after quitting job to prepare for getting their GED diploma and this group is especially varnuable. The best course of action is to avoid student loan debt at all costs by planning ahead, getting into the right mindset and being smart about your money.

Can You Really Afford This College?
Many people go to certain colleges because of the status (keeping up appearances) or because they believe it will guarantee them a job upon graduation. But the truth is that graduates of many top-rated schools have a hard time getting jobs just like everyone else. They also have to deal with an undue load of debt due to their school choices. Continue reading