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Financial Aid Tips For College

Tis the Season!

December 1, 2010

If you are the parent of a senior in high school then stress is no stranger to you.  And now probably more than ever before, you are feeling it.  Admissions applications need to be completed, essays written, recommendations asked for and
choices of which colleges to apply to need to be made.  But even more daunting
is the question in the back of many parents' minds, "how will we afford
college?"  If your child is a senior in high school now, you can not complete this form until Jan 1st, 2011.  Make sure you are aware of the each of the school's deadlines along with the deadline for the state that you live so you be sure to file on time.  There is some Federal aid that is awarded on a first come first serve basis, so be sure to apply as early as you can.  Use estimated income
information and then go back and correct this information once your taxes are
filed. An additional financial aid form is the CSS Profile.  This form can be found at the collegeboard.com website and is required by some private schools.  The CSS Profile can be completed now.  The form is rather cumbersome, and thereis a charge through the collegeboard.com website ($25 for the  first school and $16 for each additional school).  Schools will use this form to award their own
institutional aid so be sure to complete this within the school's deadline.   I am often asked, "how do I get a scholarship?"  There are many answers to this question.  Some colleges and universities will award scholarships based on merit.  Be sure to look at the admissions offices web-page of each of the schools you are applying to.  Many schools will offer a merit based scholarship if you apply early or write an extra essay.  Some will offer it based on regular
admissions as long as you meet their requirements.  As for other scholarships,
be sure to check with your employer, parents' employers and/or unions, churches,
high school guidance offices and even the town you live in.  Some businesses
like Dunkin Donuts offer $1000 scholarships to 1000 students.  If there is
anything unique about you, do a Google search and see if a scholarship comes
up!  But beware, NEVER pay for any scholarship information or give out your
social security number.  It may be a scam. Lastly, do not ever discourage your child from applying to a school because you can not afford it.  Every year, there are schools that give out enough financial aid to cover a student's tuition, room and board.   Some schools even boast that they will meet all students' financial need (as deemed by the FAFSA).  This is not to say that you shouldn't be sure to apply to a school you
know you can afford.  You should always have a financial "safety" school on your
list.  But don't let your student not apply somewhere based on cost.  You really
don't know what may happen with scholarships and aid.  Higher education is no longer a luxury for some but rather a mandate for all to keep on par.  No one should be denied an education because they can not afford it.  Please ask questions and seek help.   Allison DeanPresident, Financial Aid Preparation Serviceswww.financialaidprep.com

 


 

 

 

 

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