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Financial Aid Essentials: Costs, Aid Eligibility, and Forms

 

 

 

 

Read on for helpful tips and tools to get you through the financial aid for college planning process.

Dollars and sense: calculating costs
When determining how much a college costs, it's important to remember that expenses go beyond tuition and housing fees. You should also take books, travel expenses, and spending money into account, or you could find yourself in a financial jam throughout your semester.

Start your college financial planning with a thorough assessment of the complete costs associated with each school on your list. This will help you accurately compare expenses down the road when you have student aid offers from each school.

 

Financial aid: Do you qualify?

Covering the cost of higher education can be a challenge. Once you've figured out the price tag on your colleges of choice, it's time to start thinking about financial aid information. But how do you know if you qualify?

The process of determining your eligibility starts well before you ever receive an offer of admission. To get the ball rolling, complete the Free Application for Federal and Student Aid (FAFSA) as soon as possible after January 1 of the year in which you intend to start school. Based on the information you provide, you'll open the door to various forms of need-based aid.

 

FAFSA and PROFILE essentials
When it comes to getting student financial aid, consider the FAFSA your best friend. Why? As mentioned above, to qualify for any state or federal aid — including scholarships, work-study programs, grants, or loans — you're required to complete it.

About 600 undergraduate colleges, many of which award large amounts of their own financial aid, also require you to fill out an additional form known as the CSS PROFILE. The CSS PROFILE is designed to provide schools with more information than the federal government provides in the FAFSA. The CSS PROFILE requires you to pay a small application fee, but it also qualifies you for institutional aid.

 

All Student Financial Aid for College Info

Financial Aid Countdown: Tips for Every Family

When it comes to financial aid, the most important thing you can do is get a head start. The following tips will help you get results. Apply for financial aid...

Financial Aid Q & A: Special Situations

These questions and answers from students in particular circumstances may provide helpful financial aid information for your own situation. Assets I live...

Top Ten Financial Aid Tips for Parents

Looking for financial aid to help foot the tuition bill? Follow these 10 tips to help you secure the funding help you need and remember — don't wait until your child's...

Financial Aid for International Students

If you intend to seek financial assistance for your education, you must submit a financial aid application. The policies for student aid vary from school to school....

Financial Aid Countdown: Junior Year

To max your chances of receiving student financial aid, you have to start early. The junior year is the time to begin making a list of colleges. Think BIG. Don't...

How Financial Aid is Impacted by Your Financial Situation

Every family's financial situation is different, but there are some "rules" that apply universally when one's Expected Family Contribution (EFC), an important part...


Financial Aid Opportunities for Higher-Income Families

Parents who rank high on the income scale often rush up to me after my financial aid information seminars wondering if they have any chance of getting help in financing...

Financial Aid Process for Middle-Income Families

A report from the U.S. Department of Education's National Center for Education Statistics (August 2001) took a close look at how middle-income families finance a...

Financial Aid Q & A: The Basics

Have questions about financial aid? This group of questions and answers covers the basic information you need about college costs, campus work, need-based vs. merit-based...

Financial Aid Countdown: Senior Year

If you did your homework as a junior, then you're already way ahead! Use your research to compare options and find the best school at the best price. Just getting...

Financial Aid Questions and Answers

Have questions about financial aid? You're not alone. Read through some of our most commonly asked questions about federal student aid, scholarships, and more.

Financial Aid: What You Need to Do to Prepare

If you're trying to figure out how to pay for college, the first thing you should find out is your parents' plans — are they expecting you to pay for it or do they...

Financial Aid Advice for Parents

When exploring financial aid for college, it can help to gain perspective from other parents who have gone through the process. Explore financial aid options...

Understanding the Financial Aid Process

Finding the money you need to attend a two- or four-year institution or vocational/career college is a challenge, but you can do it if you devise a strategy

Ask the Experts: Student Financial Aid for College

Read actual questions from students about student financial aid for college and see answers and advice from college planning and admissions experts

If I Only Knew: Financial Aid Advice, Part One

Applying for financial aid can be very daunting, especially if you don't have someone to turn to who has been through it. Not only do these families share their...

If I Only Knew: Financial Aid Advice, Part Two

Learning about other families' personal experiences with the aid process can help you navigate the challenges and questions you come across in your own experience....

Getting Financial Aid for College by Serving with AmeriCorps

Your country needs your help and is willing to help pay for your college education in exchange. AmeriCorps, a federal service agency dedicated to meeting the needs...

Financial Aid Definitions, Part Two

Here is a glossary of financial aid terms, starting with the letters F through M, that you may not be familiar with but may be interested in learning more about...

Financial Aid Essentials: Your EFC and Out-of-Pocket Costs

When seeking financial aid for college, your Expected Family Contribution will impact the amount of out-of-pocket costs you'll be expected to contribute. Expected...

Financial Aid Definitions, Part Three

Here are definitions for some common financial aid terms beginning with the letters N through Z, so that you can become more familiar with the terms you may hear

Financial Aid Definitions, Part One

The financial aid process often seems to have a language of its own. Here are some key terms beginning with the letters A through E and their definitions to help...

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