This Month's Highlights

• Scholarships: Apply NOW!

• Is College Still Worth It?

• Financial Aid Insider: The Latest on Parent Loans

Date: August 2025 Dear Parent(s),

First, here are some fun August facts:

1. Did you know that August was named for the Roman Emperor Augustus?

2. In the Northern Hemisphere, August is the hottest month of the year.

3. The Perseid Meteor Shower occurs in August.

4. August is the most popular birth month.

5. August has three birthstones: peridot, spinel, and sardonyx. Peridot is the primary and most familiar August birthstone, with a vibrant green color. Spinel comes in a variety of colors, while sardonyx is a layered gemstone with reddish and white bands.

6. August also has two birth flowers: gladiolus and poppy. The poppy symbolizes eternal sleep, oblivion, and imagination.

   
   

Our Favorite Scholarship Search Engines

It's hard to believe, but some scholarships have deadlines beginning this month.

Too many students treat the scholarship search almost as an afterthought. It's understandable considering all the work that goes into applying to college, not to mention that seniors still have to go to class, do homework, participate in extracurricular activities, and have some free time to spend with friends.

I bring up the subject of scholarships now, because each Spring I'm asked, "What about scholarships?"

Perhaps because there are so many scholarships out there, the very idea of finding them can be a daunting thought and a source of a little anxiety. However, it doesn't have to be that way if they know where to look.

Let's start with what should be the most obvious place to begin: their high school guidance counselor or the administration office.

The reason we begin looking there is that's where you will find local scholarships. Local scholarships are less competitive than the national ones and most high schools keep a record of recent scholarships that previous students have been awarded, and for how much.

If you request the previous graduation commencement program, it should include the scholarships students received for the current year! Private high schools are especially keen on garnering this information. It's one of the ways they market themselves.

Then there are the national scholarships, and we list our favorites here:

Big Future, https://bigfuture.collegeboard.org/

Scholarships.com, https://www.scholarships.com/

Fastweb, https://www.fastweb.com/

Appily, https://www.fastweb.com/

Niche, https://www.niche.com/colleges/scholarships/

Peterson's, https://www.peterson

Unigo, https://www.unigo.com/

Sallie, https://www.sallie.com/

Scholarship Owl, https://scholarshipowl.com/s.com/scholarship-search.aspx/

Is College Still Worth It?

Even as Americans express growing skepticism about the value of a college degree, a new study finds "incontrovertible" data that college grads far outearn those with only a high school education.

In 2024, the median pay for college graduates stands at about 37% higher than median pay for those without a bachelor's degree, according to the analysis from compensation firm PayScale. In dollar terms, people with a college education earn about $78,400 annually in median pay, compared with $49,400 for people with only a high school degree.

At Michigan's 15 public universities, students who received federal aid have median annual salaries

of between $49,757 and $85,800 five years after graduating, depending on the school, according to a Bridge analysis of U.S. Department of Education College Scorecard data.

Median federal student loan debt, meanwhile, ranges between $19,500 and $27,000 for public university students, suggesting higher earnings could potentially offset those debts within a handful of years.

While sticker prices for college tuition may still be rising, the net price (what students actually pay after financial aid) has recently been decreasing for both public and private institutions when adjusted for inflation. In fact, the net price of college has fallen by 11% at private institutions and 13% at public institutions over the past five years.

What is unknown is how much financial aid will be negatively affected by the recent federal budget cuts, fewer international students-- who tend to pay full price, and a declining applicant pool. These factors could significantly raise parents' out-of-pocket costs.

Each month, we provide you with tips on your best ways to pay for college regardless of your financial situation.

The Latest on Parent Loans

Many changes to student and parent loans will go into effect on July 1, 2026, especially when it comes to repayment.

The first and perhaps most important is that parent PLUS loans will have annual borrowing caps of

$20,000 per child and a total limit of$65,000 per child. But there is a Legacy Provision:

If a borrower has a parent PLUS loan made before July 1, 2026, while the dependent student is enrolled in a credentialed program, the parent can continue to borrow under current loan limits for 3 academic years or the remainder of their dependent student's expected time to credential, whichever is less.

However, repayment options will also become significantly more limited. Borrowers who take out new parent PLUS loans after July 1, 2026, can only repay their loans with the standard plan. They won't have access to an Income Driven Repayment Plan (IDR) or the Repayment Assistance Plan (RAP).

This applies to all of your parent PLUS loans, even if you took some loans out before the July 1, 2026, cutoff. For example, say you took out one parent PLUS loan in 2023, and then decide to borrow another parent PLUS loan in 2027. Both of those loans would become ineligible for income-driven repayment and the RAP.

If you're someone who already has a sizable balance and is still borrowing, say, for student number two, student number three, etc, this gets very risky. Parents need to have a plan to minimize the potentially devastating financial consequences.

Free Advice: consolidate existing parent PLUS loans, and enroll in the Income-Contingent Repayment (ICR) plan before July 1, 2026. Once on the ICR plan, you can move to the Income-Based Repayment plan, which is the only income-driven plan that will remain for the long haul. If you miss this consolidation deadline, you will be permanently blocked from any income-driven repayment plan, including RAP.

Stay Cool! It's too hot out there. Until next month...

P.S. If you find this newsletter helpful, please share it with other like yourself!

This material was prepared for Bob Chitrathorn's use.

This material was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation.

Bob Chitrathorn is a registered representative with, and Securities and Retirement Plan Consulting Program advisory services are offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Other advisory services offered through Mariner Independent Advisor Network. Mariner Independent Advisor Network, Wealth Planning by Bob Chitrathorn, and Simplified Wealth Management are separate entities from LPL Financial.