Many students and parents are aware that, after they’ve been accepted by a college and awarded a financial aid package, they can appeal to the financial aid office to try and get better terms. That’s all good. But that awareness just sets up more questions: Is it worth appealing this award? More specifically, has the college offered a fair, “market-level” offer? Or have they already made a great offer that can’t be improved? Is it the type of school that…
“Wait, what?! People negotiate college prices???” Yep. All the time. In fact, most colleges wish that more accepted applicants would ask for a lower price. Now pick yourself up off the floor and keep reading. Because knowing this simple college cost hack may well save you thousands of dollars. You Say Negotiate, They Say Appeal (let ’em have this one) Before we get started – a quick tip about word choice. Colleges care a lot about keeping up appearances, especially when…
If you have been watching the news, you know Student loan servicers have been under scrutiny from organizations like the Consumer Financial Protection Bureau (CFPB). They have been staunch advocates for borrowers against deceptive and unethical servicing practices by loan servicers which have defrauded millions of borrowers out of student loan forgiveness. The Department of Education (ED) has made significant changes to “right these wrongs” with their most recent changes and updates to several repayment programs. Every borrower must understand their…
College can be unaffordable for students who cannot secure other funding options. The Free Application for Federal Student Aid (FAFSA) determines a student’s eligibility to receive financial aid. However, the aid offered through the FAFSA application will not be enough to cover most students’ school expenses. Therefore, students must secure other funding sources such as scholarships, grants, and payment plans. Once all other funding options and sources are exhausted, parents can apply for additional loan funding. Parents can ch0ose to…
The 2022 Fall semester has just begun. Financial Aid Offices around the country have been busy reviewing students' Free Applications for Federal Student Aid (FAFSA) and creating financial aid awards that students (and parents) have happily accepted. Parents have settled any outstanding balance they owe with their school's Bursar's Office. Students are back on campus, decorating their rooms, catching up with friends, and enjoying their college experience. All seems well until they realize the 2023-2024 FAFSA application is steadily approaching.…
The 2022-2023 academic year is steadily approaching. Mailboxes or emails overflow with aid notification letters of students' financial aid packages from each school listed on their Federal Application for Federal Student Aid (FAFSA). These letters indicate how much financial aid a student is eligible to receive. Part of the financial aid package includes student loans. Loan amounts vary based on your classification (ex. Freshman, sophomore, junior, or senior) and your dependency status (ex. Dependent or independent). Student loans are part…
Many families think the financial aid process ends once a student accepts a financial aid package and enrolls in college. However, it turns out that contacting a school’s financial aid office can help a student stay in school when that package turns out to not be enough. According to a recent report, money is the most common reason students drop out of college. In 2017, more than 38% of students cited financial pressure as the main reason for discontinuing their studies.…
Your appeal for additional financial aid is not something that begins after you receive your award letter and suddenly realize you can’t afford to pay for your child’s dream school. Your appeal, rather, is one of many components of your overall game plan to pay for college. It can be one of the most important components for lowering college costs. Here are three important tips for optimizing your merit aid through the appeals process: Plan your appeal early. It should…
Nearly every student will need to apply for financial aid at some point in their life. Whether it is because they have a parent who is not able to cover the cost of tuition, or because they are seeking out scholarships and grants to help pay for school, these types of educational funding are important. However, there are many different types of financial aid and scholarship opportunities that can be confusing. Luckily, we offer numerous financial aid workshop opportunities throughout…
1. Know the deadlines - There are 3 of them! Federal - The FAFSA becomes available on October 1, 2023 for the academic year 2024 - 2025. The federal deadline is June 30, 2024. Link to the FAFSA form. College – Since colleges rely on the FAFSA to award student aid, make sure you know each individual school’s FAFSA deadline. Deadlines may be different for early action, early/regular decision, new students, and continuing students. State - Residents planning to attend an in-state public college also need to know the…