Kiplinger’s new tool for understanding financial aid

Can you tell a Federal Academic Competitiveness Grant from a Federal Supplemental Educational Opportunity Grant, or, for that matter, from a Federal Unsubsidized Stafford Loan.

I thought not. For those of you who can’t and will be helping to finance your child’s way through college sometime soon, there's help.

Kiplinger’s, the personal finance organization, has come up with an on-line tool that explains each component of a a financial aid letter sent to you by a college or university.

Go to http://www.kiplinger.com/tools/college-financial-aid-letter/ and it easily helps you understand financial aid lingo by allowing you to scroll over various items and then learning about what each type of aid actually is.

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