8 Things to Know About the New College Borrowing Season

Most families end up borrowing to cover college costs.

More than 70 percent of college students rely on loans when pursuing a bachelor’s degree and many parents borrow as well.

The college loan season starts on July 1 when the federal government makes federal loans available for the 2016-2017 school year.

With the college loan season upon us, here are eight things you should know about college loans:

Why You Should File the FAFSA

Most parents with college-age children should complete the Free Application for Federal Student Aid, but many families never bother.

According to the U.S. Department of Education, less than 55% of families with high school seniors submit the FAFSA. That’s a low statistic when you consider how important this document is to millions of Americans. Low and middle-income students, for instance, have a 25% to 30% greater chance of enrolling in college if they file the FAFSA.