Student loan advertisements here in Florida and across the country have intensified lately, “I got $40,000 in a week!” or “Better Rates if Your Parents Co-Sign!”This coincides, of course, with college acceptances. Many parents and students are opening letters telling them they’ve been admitted to the college of their choice, only to have that brief elation met with the harsh reality of having no clue about how the heck they’re going to afford college.One such option is applying for financial aid. Unfortunately, the “rules of the game” behind how to maximize the money you’re eligible for are complicated, to say the least. Most families (78-90% , according to some industry estimates) fill out the FAFSA and other forms incorrectly. This results in the student receiving less aid than he or she would have normally qualified for, or, sometimes, no aid at all.All too often, the student turns to alternative means of college funding: private student loans. However, you need to think twice if you’re planning on financing your college education this way.Before you sign your life away, take a deep breath and consider what you might be getting yourself into.Most parents and college-bound students […]

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