Student Aid Pitfalls

There's nothing better than getting that student aid award letter from your favorite educational institution. You get the good news that money is coming your way. But is it? Schools often don't spell out exactly what you're getting, what you'll still need to cough up, and what you'll have to pay back later. Last week a Marketplace report discussed how Colleges Need a Sticker Price. Listen to find out how award letters fail to inform people of what they'll really have to pay for education. The site also links to a fun "decoder" system that shows how real student aid award letters fail to tell you the whole story.

Further reading:

• Student Loans 101
• Find out about the Marketplace Podcast