Think You Shouldn’t File a FAFSA? 8 Financial Aid Myths Keeping Money From Your Pocket
Sep30

Think You Shouldn’t File a FAFSA? 8 Financial Aid Myths Keeping Money From Your Pocket

According to NerdScholar, high school graduates in the U.S. left more than $2.9 billion in free federal grant money unused over the last academic year. How is that even possible? According to the study, their only mistake was not completing the FAFSA.

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Parent College Coach Tip #59: Don’t Be Fooled by the Award Letter
Apr03

Parent College Coach Tip #59: Don’t Be Fooled by the Award Letter

Don’t  be fooled by the financial aid award letter. Colleges use numerous tactics to make it appear that they are awarding aid but it’s not always so. Here are five ways that colleges might be trying to fool you. Colleges don’t back their admission offer up with money–if a college wants your student, they will back it up with a financial “reward”. No award indicates they are counting on your student declining their offer. Colleges pack those letters with loans–a prank because every student and parent can get a student loan. Colleges misrepresent their true cost on those letter–often leaving out expenses that should be considered and not giving the true cost of attendance. Colleges “gap” students–they don’t award enough financial aid to meet the family’s EFC. This leaves a gap in the award and what the family has to pay. Colleges consider it an award letter although there’s no award–even if all they offer is a student loan. That’s not an award. That’s not even an olive branch. It’s a slap in the face. Be a wise consumer. Don’t be fooled by the award letter. Do your due diligence and compare offers, crunch the numbers, and make a wise financial decision. Remember that part of the perfect fit college is the financial aspect. A college who won’t back their offer up with money isn’t a college you should consider. Parents – Want more Parent tips? GET THEM HERE! Don’t forget to read all of the Scholarship Mom Tips...

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#CampusChat 4-1: Don’t Be Fooled by the Financial Aid Award Letter
Apr01

#CampusChat 4-1: Don’t Be Fooled by the Financial Aid Award Letter

Did you know that colleges all across the country are pranking you today? They are sending out award letters to parents and students just like you, fooling you into thinking you have received an award. Don’t be fooled by the financial aid award letter! Tonight’s #CampusChat topic deals with the award letter and how to determine if a college is pranking you. Are they gapping you? Is it padded with parent/student loans? Did the college offer any aid at all? Are they representing their true cost of college? Don’t miss tonight’s chat. It could save you thousands of dollars and keep you from making costly financial mistakes when making the final college choice. Join us tonight! What: Don’t be fooled by the financial aid award letter on #CampusChat Where: on Twitter using hashtag #CampusChat When: Wednesday 9PM ET Follow: @collegevisit See you...

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Parent College Coach Tip #54: Is the College Gapping You?
Feb20

Parent College Coach Tip #54: Is the College Gapping You?

  College acceptances for regular decision will be arriving soon. Your student is admitted but what happens afterwards? If you applied for financial aid by completing the FAFSA, the financial aid package will arrive shortly after the offer of admission. Then, the decision process begins—comparing awards and determining which college is the best financial investment. But what if the college doesn’t meet all of your financial need? The practice of accepting a student and then not offering them enough financial aid to afford the college is known as “gapping”, or “admit/deny”. Is the college gapping you? According to The 2014 Survey of College and University Admissions Directors, over half of college admissions directors practice gapping at their institutions, although it is much more common in private schools. 72% of private college directors and 39% of public college directors say that they use this practice. The majority of private college directors, and about a third of public school directors say the practice both is necessary and ethical. Gapping occurs when a college offers admission but doesn’t back it up with financial aid. Basically, the college doesn’t offer enough aid to cover your expected family contribution. This often happens when the student is at the bottom of the applicant pool. In this case, the gap between what the family can afford and what the college offers can often be tens of thousands of dollars. The best defense against gapping is to ensure that the student has applied to colleges that are a good fit for them. If a student is attractive to a college, they will be willing to entice the student with a greater share of financial aid dollars. If you determine that a college is gapping you, consider attending one of the other colleges that offered admission and a better financial aid...

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Scholarship Mom Tip #60: Check the FAFSA Checkbox
Feb20

Scholarship Mom Tip #60: Check the FAFSA Checkbox

This week’s tip reminds you to check the FAFSA checkbox. Last week’s tip stressed the importance of becoming familiar with and filling out the FAFSA (Free Application for Federal Student Aid) in a timely matter in order to get as much federal and state financial aid as possible for college.

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FAFSA – What are you waiting for?
Jan19

FAFSA – What are you waiting for?

Think you’re not eligible for financial aid? Think again! And don’t miss the FAFSA deadline!

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