A Guide for Families For many families, student loans are part of the college funding equation. With the rising cost of tuition, even students receiving substantial financial aid often need to borrow to cover the gap. Loans help cover the gap between what a college offers in grants and scholarships and the full cost of attendance. With the […]
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Sometimes a family’s financial situation changes after they submit the FAFSA or CSS Profile, and the income reported on those forms no longer reflects their current reality. When this happens, colleges may be able to adjust the financial aid calculation through a process called Professional Judgment. This process allows financial aid offices to review special circumstances and
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What Families Need to Know About This Financial Aid Program As financial aid award letters begin arriving, you may notice an item called Federal Work-Study (FWS) listed on your student’s financial aid package. This need-based federal program can offer great opportunities for students. I’m a big supporter of the work-study program, but I’m not a
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A Step-by-Step Guide for Students and Families Receiving a college acceptance letter is exciting! We love acceptance letters! Soon after, the financial aid award letter arrives, which can be equally as important. While this letter outlines the financial aid a college is offering, it can also be confusing and difficult to interpret. Many families struggle
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Financial aid award letters are arriving, and many families quickly realize that some schools simply don’t offer enough aid to make attendance financially realistic. This can be frustrating—especially when the school offering the least amount of aid is the one your student most wants to attend. The good news is that financial aid awards are
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Direct loans will be awarded to students who submit a FAFSA as part of their financial aid package. You may see two Direct loans. One is a subsidized loan, meaning the government is paying the interest while the student attends college at least half time, until they graduate. The subsidized loan will be $3,500 the freshman
The FAFSA will be required by every college when applying for financial aid. Many colleges will require the FAFSA to be submitted in order for the student to be considered for merit-based scholarships. Fordham University, for example, requires the FAFSA and CSS Profile in order to be considered for any merit-based scholarships. If your family has a change
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This year, 2020, has undoubtedly been an extremely difficult year for many. For those families with children in college, a loss of income due to COVID-19 will impact their ability to pay for education expenses. It is important to understand how to communicate this change in circumstances to the colleges. It all starts with submitting
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Applying for college financial aid is undoubtedly stressful for families. It can be even more stressful and confusing for divorced families. I have listed some simple rules to help demystify the process. The FAFSA and CSS Profile must be completed using the custodial parent’s information only. The custodial parent, for sake of financial aid, is the parent that the
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Your student’s senior year of high school is now in full swing and they are diligently working on their college admission applications. As parents, we are starting to sweat a bit over the astronomical costs ahead. Instead of just worrying about it, we can do something productive and apply for financial aid. Every family with
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