In my last post, we talked about why deadlines matter. Not only do the deadlines matter, they are not always the same, nor are the applications attached to them; just as admission requirements vary, so do financial aid applications.
#3. All Financial Aid Applications Are Not the Same!
The Free Application for Federal Student Aid, or FAFSA, is required for all federal aid programs, as well as some state and scholarship programs. All aid applicants should complete the FAFSA every year, regardless of your financial situation.
Yesterday, CollegeScholarships.org published a list of 100 Education Advice Blogs. The blogs on the list range from providing advice for managing priorities to advice for college parents. This list is among some of the great resources available on the Internet for students and parents, and we encourage you to check it out.
Our Picks
We’ve selected a few from the list that we think are particularly interesting blogs to follow, and a couple more that weren’t on the list, but are awesome additions.
I’m continuing today with the top 10-things you need to know about financial aid. Last time we learned that everyone should apply for financial aid, even if you don’t think you’ll qualify. So now that you’ve decided to apply, what do you need to know about the process?
#2. Deadlines Matter!
Meeting deadlines is essential in the financial aid process. Colleges have finite amounts of institutional funding, and aid awards must stay within budgeted amounts for financial aid. At some point the aid budget will be exhausted. Find out what the deadlines are and meet them – once the money’s gone, there’s nothing the financial aid officer can do!
There was a time not so long ago when a student’s primary goal was getting accepted into his or her college of choice. Once that hurdle was cleared, the family then began to think about how they would cover the cost. As college costs have risen, concern about financing a college education has become a significant factor in the college choice process for many families.
Photo Credit: datarec (sxc.hu)
The good news is that for many families, financial aid is available to assist them with college costs. The bad news is that for many families, the financial aid process is confusing and opaque. So how can your family take advantage of financial aid without becoming overwhelmed? Take a deep breath –help is on the way. Over the next few weeks, I will walk you through what I believe are the 10 things you must know to navigate and make the best use of the financial aid process. Let’s get started!
#1. Everyone Should Apply for Financial Aid
If the cost of college makes you gasp, you should apply for financial aid. You may or may not be eligible, but if you don’t apply you certainly won’t get anything.
