Funding Your Education
Although funding for college was originally designed to go to those who need it the most, it actually goes to those who know the most about the process. Typically, the more you know about deadlines, strategies, where funding comes from, and who is most likely to be awarded funding, the more money for college you will receive.
Public or Private School?
In many cases, the private institution has much more gift money to award than a public school. This is why a seemingly more expensive private school may actually be the same price, or less, than a state-funded school.
Public or Private School?
In many cases, the private institution has much more gift money to award than a public school. This is why a seemingly more expensive private school may actually be the same price, or less, than a state-funded school.
Where Does The Money Come From?
It’s important to understand where financial aid money really comes from. Funding for college most commonly comes from the federal government or the university itself. Some type of money is gift aid (it does not need to be repaid) and some of the money is loaned to the student and will need to be repaid at a future date.
Gift aid is usually awarded as scholarships, grants, endowments, and discounts on tuition. Federal student and parent loan programs offer financial aid that will need to be repaid. Nearly all students fund their education with a combination of both gift aid and loans.
Government funding is based primarily on the student demonstrating financial need and is distributed by the educational institutions. In addition to government funding, many public and private colleges have their own endowment funds to attract the best students to their institution.
College is Expensive
Even at lower-priced, state-supported universities, a four-year degree can cost over $100,000. College tuition and fees continue to increase at an alarming rate which makes paying for college on your own practically impossible.
College is Expensive
Even at lower-priced, state-supported universities, a four-year degree can cost over $100,000. College tuition and fees continue to increase at an alarming rate which makes paying for college on your own practically impossible.
Free Application for Federal Student Aid (FAFSA)
Before you are eligible for any federal student loan programs or any federal grant programs, you have to fill out a form called the FAFSA. Most colleges also use the FAFSA information to determine your Expected Family Contribution (EFC). You can file the Free Application for Federal Student Aid (FAFSA) beginning October 1st of your senior year of high school.
The Department of Education estimates that 75% of FAFSAs submitted each year contain errors. Unfortunately, an error could end up costing you thousands of dollars! Obviously, knowing how to complete these forms correctly is very important. When you work with us, we will give you a line-by-line answer sheet and filing instructions for your FAFSA. We’ll teach you exactly how to fill it out with all the correct answers to help your student get the most financial aid available.