For direct subsidized and unsubsidized loans the numbers are:

4.66 percent – Undergraduates 6.21 percent – Graduate students 7.21 percent – Parent (PLUS) loans

These rates are locked in for the 2014-15 school year only; if you have a student that will be entering college in the fall of 2015, you will receive the new rates next year at about the same time.

We welcome to the show Christina Craig, who has been in college counseling and admissions for the past 10 years before starting her own private counseling company, Craig College Counseling.

Christina has a different take on the admissions process, calling it fun and enjoyable. Not something you'll likely hear from the family trying to tackle the process on their own. Her job is then to alleviate the stress from her clients and part of her services is taking on the college essay.

Start the college planning process as early as sophomore or junior year so that the offer letter results are what you were expecting!

What is a scholarship?

A scholarship is money that is provided to students to help them pay for higher education. Additionally, it is money that does not need to be paid back.

Late Stage College Planning = 8 Mini Plans for Overall Planning

1) College Finances

2) College Selection

3) College Testing

4) Athletics

5) Academics

6) Career/Life Planning

7) Admissions

8) Scholarships

The following is not intended as investment advice. Please consult a qualified tax/legal/investment professional for advice on your particular situation.

What's the best place to save for college…a 529, the bank, an investment?

Answer: It depends…..based on your tax situation and whether or not your student will qualify for need-based financial aid.

There are 3 aspects of college planning affected by divorce.

Planning and preparing Who will do the leg work?

• Research on the schools
• Plan and participate in school visits
• Determine test prep plan

Financial aid Financial aid is based on income and assets of parents and the student.

5 Last Minute Tips for Completing the FAFSA

1. Complete the FAFSA and CSS Profile by the required deadline

2. Asset strategies

3. Clarification on 3 vague questions on the FAFSA

4. Use the IRS Retrieval Tool

5. You will apply for financial aid every year….. for each student

Top 10 Financial Aid Mistakes

1. Putting assets or savings in the student's name.

2. Increasing parent income in the base year.

3. Failing to plan for financial aid.

4. Starting your planning to late. (or not at all)

5. Overuse of 529 plans.

6. Missing financial aid deadlines.

7. Neglecting your debts.

8. Assume you won't qualify.

9. Poor communication with the schools.

10. Reporting your retirement plans as an asset.

Tim Nolan, a local CPA, talks about tax strategies when it comes to college. He will explain the American Opportunity Credit and tip for business owners. Nolan Accounting Center is a family business that has been in service for 48 years. They assist small business owners and individuals with their tax returns.

QUESTIONS

From John in California: What is the "net price calculator" that I find on most college websites? From workshop attendee: Do I have to complete the financial aid forms and FAFSA if I know we won't qualify for need-based aid?

Today's interview with Erik Lofdahl of Midwest Collegiate Scouting details how the athletic recruiting process works and why you should consider hiring a recruiting specialist.

MIDWEST COLLEGIATE SCOUTING assists students in the recruiting process as they transition into college sports. Before starting his business 10 years ago, Erik was involved in the recruiting process as a high school and college coach. He is currently a college coach at, St. Norbert's in DePere, Wisconsin.