The hardest part of deciding where to go to school may be figuring out how to pay for your education. There are so many factors to consider and with the delays with FAFSA that hasn't gotten any easier. Here are a few things to keep in mind
Parents and students need to have an honest conversation very early in the process about what is in the budget for college. Now is the time to firm that up and keep that in mind when comparing aid packages.
Make sure you are comparing apples to apples when reviewing aid packages - look at grants and scholarships and compare those first. Then you can factor in loans if you are willing to take those out.
When considering loans make sure you know the full cost - not just the dollar amount borrowed, but also the interest rate, when interest starts accruing, and the re-payment terms. With private loans know that there aren't income adjustment for payment amounts in most cases.
Contact the financial aid office and appeal their offer if you need additional aid. Let them know if there are extenuating circumstances as well.
Once you have added up all the numbers make sure you accept your aid package and inform the school of any outside scholarships and know how they are supposed to transfer that money to the school. Make sure that not only is the school you choose the right place for you academically and socially but it is the right place financially as well.
If you have questions about financial aid or need help deciphering the offers, let's set up a conversation.
Paying for school can be stressful but understanding your options and asking questions
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