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Home > > Bank of america credit card transaction fee cash advance

Bank of america credit card transaction fee cash advance

You have a child who is approaching college age and now you have to face what youíve been trying to avoid for years: how to pay for that college education! Most parents remember Low APR credit cards when college tuition, room and board could be had for under $5,000 per year.

Now, the price of many private institutions hovers at (or above) $30,000 per year. Multiply that times four years and weíre talking about a home mortgage rather than an education! Before you are tempted to send your son or daughter straight to the work world, there are some basics of financing a college education that you need to understand.According to the Higher Education Act of 1965, which is the law that governs student aid, it is the parents responsibility to educate their children beyond the 12th grade. Most transaction card america bank of credit fee cash advance importantly, the law also states that if a family can demonstrate need, then the government will assist in paying for such an education. How is need determined? The basic formula is simple:Cost of Attendance - Family Contribution = Financial NeedCost of Attendance - The first component of determining your financial need is to determine the cost of attendance. The financial aid administrator at each college develops an average cost of attendance for different categories of students. This will include tuition & fees, room & Low APR credit cards board, books, transportation and miscellaneous expenses. Bear in mind, this cost can vary somewhat for students in different situations. For example, the New Jersey student attending college in California will obviously have higher transportation expenses than the California student attending the same college.Family Contribution - The next part of the formula is the Expected Family Contribution, or EFC. It is determined by the need analysis methodology as prescribed by federal law. The EFC is the amount you will be expected to contribute towards your studentís educational expenses during the academic year. It must be recalculated every year. The Free Application for Federal Student Aid (FAFSA) is the method used by most colleges for gathering the personal and financial information necessary to calculate your EFC. This method takes into account your income and liquid assets which, theoretically, could all be available to pay for college. One point to be aware of is that your familyís EFC does not vary with the number of students in school at one time. There was a time where I thought it was a good thing that my kids were spaced four years apart. Now, I realize that did not work to my advantage in the college funding game! So, for the parents who will have multiple students in school at the same time, this is very good news. Many colleges have financial aid calculators on their web sites which can give you an idea of what your EFC will be.Financial Need - So, letís do the math. If your daughter applies to a school with a $30,000 cost of attendance and your EFC is $16,000 per year, your financial need is $14,000. This need can be met by a variety of federal, state and institutional grants, federal work-study monies and low interest student loans. Of course, you will want to look for colleges which have a history of giving good financial aid packages which may even be above your calculated need.Other Items to Consider Avoid the scholarship search game. Of the $117 billion in financial aid available in 2004-2005, less than 1% came from private scholarships (most aid bank of america credit card transaction fee cash advance comes in the form of the aforementioned grants, work-study programs and loans). Many families waste a lot of time and effort going after that small slice Always apply to at least four to six schools that are rated equally. This way, if your child gets accepted to them all, you may be able to negotiate for a better financial aid package. Donít be afraid to appeal for a better financial aid package Increase your income! Obviously, even with the financial aid that is available, college will still be a stretch for most families. You may want to consider starting an on-line business. There are many people supplementing their incomes on the internet. Stay away from get-rich-quick schemes and do your research first!2

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Youíre looking to find a payday loan or cash advance loan company that is reputable, provides excellent service, and is properly licensed in their state of business. Also look for a payday loan site that is professionally designed and managed, run by a real company that understands the business and markets it works in.

All payday loan companies that provide cash payday loans must have a state license. Certain states donít allow payday loans, so they will not issue a license to any company in that state for that purpose. When looking at a particular payday loan lender you should feel free to e-mail them at their contact information and ask for information regarding their state lending license. For example, the lending institution for Personal Cash Advance is located in South Dakota. The company is officially licensed by the State of South Dakota. When they issue a payday loan contract with a client, it is deemed to take place in South Dakota, regardless of where the client or his/her bank resides. Therefore the payday loan contract is bound by the laws of South Dakota.

Security is also a major concern when shopping for the right payday loan. When a client completes the Personal Cash Advance application page, the connection will be ďSSLĒ which stands for Secure Socket Layer. Secure Socket Layers provide the best means of encryption available to commercial websites today. The personal data stored the data on our computers is also encrypted with the highest standards currently available.

Ask any payday loan lender you consider doing business with about their data security. You might be surprised at their responses. If they are evasive or unclear in their answers, go somewhere else!

Finally, make sure someone is available to answer your all your application questions. Many payday loan lenders leave you wondering whatís going on. Although price is important, customer service is even more important.

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