1.0College Financial Aid Advisors Scholarshiphttps://collegefinancialaidadvisors.comCollege Financial Aid Advisorshttps://collegefinancialaidadvisors.com/author/collegefinancial/rich600338<blockquote class="wp-embedded-content" data-secret="P976oa3HxE"><a href="https://collegefinancialaidadvisors.com/surprising-results-from-the-2015-discover-survey/">Surprising Results from the 2015 Discover Survey</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://collegefinancialaidadvisors.com/surprising-results-from-the-2015-discover-survey/embed/#?secret=P976oa3HxE" width="600" height="338" title="“Surprising Results from the 2015 Discover Survey” — College Financial Aid Advisors Scholarship" data-secret="P976oa3HxE" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); </script> https://collegefinancialaidadvisors.com/wp-content/uploads/2015/10/Blog-Image-77-1.png48441250For the past four years Discover Student Loans has conducted a survey of 1000 adults with college-bound children. This year’s survey was conducted in April, and the results were just released. Here are a few surprising points that should help parents and students begin the college financial aid discussion: • College is Important to Their Child’s Future: 95% felt that college was either very important or somewhat important. Only 3% felt it was not very important. Parents realize the value of a college education in assuring a bright future for their children. • They’re Just Not Sure How Much it Costs: Less than half were very knowledgeable when it came to determining the entire cost of a college education beyond tuition. In fact, 12% said they were not very knowledgeable at all. Knowing the complete cost of a college education is crucial to determining the extent of financial aid and student loans that will be required to pay for it. • They’re Not Going to Pay for All of It: While 75% said they would help their child pay for a college education, 16% said they would not, and 9% just weren’t sure. This is important information to share with your child, before any decisions about where to attend are made. • They Are Worried About Money: With the anticipated rising costs in college tuition and associated out-of-pocket expenses, 45% of parents are already very worried they won’t have enough money to pay for college. 33% are somewhat worried and only 21% are not very worried or not at all worried. Most parents have good reason to worry about anticipated college costs, but careful planning and maximizing the amount of financial aid a student receives should help minimize the burden. • Students Might Be In for a Surprise: When asked how much of their child’s education they could afford, a surprising 24% said none of it, while 31% said up to 25% of it. Only 9% could afford all of it. Children need to know this information so they can make smart decisions about which college to attend. • Money is Coming From a Variety of Sources: Some parents already have 529 savings plans and family savings in place, but 29% felt they would be relying on student loans. Parents and students need to discuss the impact of these loans on the family budget, and get a plan in place for repayment before the school year begins. • Students are Shouldering More of the Responsibility: While only 15% of the parents felt their child should pay for all of a college education, 30% believed the child should pay for most of it and 46% felt the child should at least pay for some of it. Only 7% felt the child should pay for none of it. Most importantly, these results point out the need for frank and ongoing discussions between parents and college-bound or college-aged children. Waiting until the child graduates is far too late to allow for smart decision-making.