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Financial Aid Facts

Posted on Sep 13, 2012 - 06:00 AM | Financial Aid | Comments (0)

Financial Aid Facts Show the Importance of College Prep

Do you wish you had more information on financial aid? If, so, you’re not alone: 56% of parents with students interested in college wish they had more information on financial aid.

We can believe it. Our families come in with all sorts of questions, which is why we have two handbooks, several videos, and an entire department devoted to helping students get better financial aid.

Financial Aid Facts

Here’s one financial aid fact you should find astounding: 29% of low-income families don’t even file for financial aid. And why don’t the file? Because either:

·        The forms are too confusing

·        They don’t know about it

·        They don’t think they qualify.

In other words, the people who benefit most from financial aid are the least likely to get it.

Financial Aid Questions

So what do people want to know about financial aid?

Top financial aid questions…

·        Does my student qualify for aid?

·        How can I get more aid?

·        What will I have to spend out-of-pocket on college?

·        What programs are available?

·        Do scholarships help?

Financial Aid Answers

·        Most families qualify for financial aid, but there are plenty of things to consider, including income, assets, number of people in the household, etc. It’s best to file for financial aid, even if you think you don’t qualify. Let the government and colleges figure it out. If you want anwers early – before your student applies to college – then let our staff do it for you. This way, you can develop a financial plan.

·        To get more aid, you need to know all the forms to fill out and then not make a single mistake on any of them. You also need to know the propoer steps to appeal for more aid and understand the system’s complex and underlying rules. If this doesn’t sound easy, its not. But it is possible.

·        Your out-of-pocket expenses can vary greatly, but it’s what everyone wants to know. To know what you’ll owe, get a college-cost estimate. Just don’t rely on the college site. Turns out they’re not that accurate.

·        Financial aid programs are an alphabet soup: Pell, SEOG, ParentPLUS, TAP, PHEAA. There are federal, state, and college programs available. Get help navigating the system.

·        Finally, do scholarships help? Sometimes. It depends on the type of scholarship, who provides it, and where you use it. If that sounds vague, it’s becauses colleges don’t always make their scholarship policies readily available – unless you know where to look.

You can see why a majority of families want more information on financial aid. It’s a complex system, and the answer to almost every question is maybe. It all depends on your situation. Before you apply to college, get help that looks at your specific case. It will make paying for college and getting great financial aid much easier!

Enroll in our program today. If you’re a high-school senior, be sure to take advantage of our Paperwork Services. It could save you hundreds, and more likely, thousands of dollars on college.

If you have more questions, call 800-898-4636 or simply enroll online!