You Can Figure College Aid At Sallie Mae Internet Site

If you have a teenager approaching college age, you’re probably hoping some financial aid will come your way. You can get a pretty good idea about how much the family will be expected to contribute to college costs if you apply for a federally backed loan.

Sallie Mae, the government-authorized lender, has a calculator on its Internet site for estimating the Expected Family Contribution (http://www.salliemae.com).

You fill in data on the student’s and parents’ finances, and the number of household members and children in college. The machine tells you how much the parents and student would be expected to pay.

Or you can order Sallie Mae’s free booklet, “Paying for College,” by calling 800-806-3681. Sallie Mae also has a hot line with aid experts available weekdays from 9 a.m. to 9 p.m. at 800-891-4599. Also try the Department of Education’s free 1997-1998 “Student Guide” and the brochure “Funding Your Education,” which can be ordered at 800-433-3243. These two publications are available on the Education Department’s Internet site (http://www.ed.gov)

Incidentally, the department has made it possible to fill out the Free Application for Federal Student Aid online through its Internet site (http://www.fafsa.ed.gov).

Brokers thrive with market

Thinking about a career change? Maybe you should become a stockbroker. While most Americans eked out a 3 percent or 4 percent raise in 1996, the average retail broker - one who deals with individual investors, as opposed to institutions - got a whopping 18 percent increase in earnings and benefits, according to the Securities Industry Association. Earnings alone jumped 15 percent to an average $142,958, up from $123,839 in 1995.

With the market continuing to soar, brokers are likely to enjoy big raises again in 1997.