Don’t compare sticker price only. Some of the most expensive schools have the best financial aid programs. It may actually cost you less to attend a private college than a state-sponsored institution.
If you are interested in high priced colleges but are afraid you can’t afford them, you may want to apply to some of these colleges along with some “financial aid safeties.”
Look at the total costs provided by each college. Do they include realistic figures for books, lab fees, transportation…?
Colleges do not have unlimited supplies of financial aid. You need to meet financial aid deadlines. The earlier you apply, the greater your chances to receive aid.
It is very difficult to be considered an independent student. In most cases, your parents’ income will be considered in regard to financial aid.
In general, most student savings are expected to go toward your overall college costs.
“Gapping” is a new phenomenon where a college recognizes that your family needs financial assistance, but the college is unable to meet your full need. If you decide to enroll, it is up to you to find the additional funds needed to pay for your education.
When comparing financial aid packages from different colleges, take into account future packages as well. Many colleges increase loan and work-study amounts after the first year. You should also inquire about the minimum academic standards you need to meet to keep your financial aid.
If you will have financial need during your college years, you must apply for aid as a freshman. Do not forego the aid process because you think you will have better chances for admission if you are not an aid candidate and because you can afford the first year. If you need help later, the college probably may not have any available fund.
If you are interested in learning what federal financial aid you will likely qualify for, you can take advantage of a computerized financial aid program here in the Guidance Office or use a free Internet program (Http:/www.salliemae.com/). You will need to have your tax information available.
Scholarship opportunities are announced to students weekly over the PA. Also, outside the Guidance Office and near the main office. The bulk of local scholarships have spring deadlines, but you should pay attention to notices throughout the year.
