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The decision to not enroll this fall causes students’ scholarship and grant money to return to the college’s pool of financial resources and the money becomes available for students who know to ask for it.
Last year I wrote about how parents of college-bound students are reacting to tough economic times by allowing their son/daughter to only apply to public colleges and universities (with lower tuition costs). My reaction to this was, “What a mistake.”
College-bound students and their parents are busy comparing financial aid offers from colleges; soon these families will raise the question, “Can we ask for more money?”
In these challenging economic times, affordability is the key consideration for many families of college-bound students. Consequently, families should be aware there are important conditions attached to financial aid awards.
High school seniors are currently comparing their financial aid award letters from colleges and universities. Evaluation of offers of “free money” (scholarships and grants) versus loans must be completed for each college to see which one is most affordable.
This month the government is rolling out a shorter, simpler aid application in an effort to reduce barriers to higher education, especially for needy students. About 20 million students file the FAFSA, as it is known, each year.
MyCollegeCalendar.org gives invaluable advice and step-by-step instructions for completing the FASFA as soon as possible.
The online FAFSA should be submitted as soon as possible after January 1, 2010. In the meantime, parents should be working on the FAFSA Worksheet, however, the Worksheet for students entering college in fall 2010 is not available. MyCollegeCalendar.org provides advice on how to best prepare for submitting the online FAFSA.
Parents can maximize their son or daughter’s eligibility for need-based scholarships and grants by reducing their financial assets and cash reserves. This sounds extreme, but it is reality. MyCollegeCalendar.org gives advice on actions to take to increase student eligibility for financial aid and to receive scholarship awards.
FAFSA PINs (Personal Identification Numbers) are required for both you (the student) and one of your parents to apply for need-based financial aid. The FAFSA is the Free Application for Federal Student Aid required by virtually all colleges to receive need-based grants and loans from the federal government, state government, and from colleges. MyCollegeCalendar.org gives the link and instructions to obtain FAFSA PINs.
