When you buy expensive things -- a TV, a car, a house --, you most likely take more and more time to carefully consider the risks, rewards, and probable outcomes associated with the purchase as the price increases. No one wants to waste hard-earned money. In addition to knowing the purchase price, you will likely have a good handle on the ultimate cost, including after-purchase expenses such as maintenance and insurance. This is true for nearly all consumer transactions -- except for purchasing an education.
Tag: Financial Aid
John Hupalo and Scott Maciag, long-time high school guidance counselor, dissect an actual financial aid award letter to show the free money, earned aid and loans. They offer tips on student loans, discuss net price vs total cost of college and talk about appealing the financial aid award when the package isn’t enough.
Parents, stay tuned to this content series helping you with key info on college funding to help make affordable choices.
College affordability shouldn’t be a one-time calculation done at the time a student receives their first financial aid award letter. Reducing the cost of college – and thereby increasing the return on investment – can be done in college.
It’s very important that continuing college students reapply for financial aid EVERY YEAR! Even if your student didn't receive any aid when your family first applied, it's important to keep the Free Application for Federal Student Aid (FAFSA) open and up to date. If your family's circumstances change, you may be able to appeal for increased financial aid at a later date.
Saving may be the best way to pay for college, but sometimes it’s just not enough. There are many strategies to fill the gap between how much you have and how much you need. Parents can make a huge impact on the process by staying organized and knowing the lingo to help support their child's college bill payment strategy.