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Saturday, April 25th, 2015


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Top Ten Tips for Financial Aid

Tip 1:
Prioritize your efforts, starting with the federal government. Then turn to the private sector for additional assistance. Visit www.finaid.org to learn about all your funding opportunities.

Tip 2:
Learn all you can about the college financial aid process. Be sure to meet your aid administrator and establish a relationship.

Tip 3:
Submit a FAFSA, even if you don’t think you qualify for aid. Being rejected for federal aid is sometimes a prerequisite for private awards.

Tip 4:
Apply for aid as soon as possible after January 1. The early bird always gets the worm — and sometimes the scholarship!

Tip 5:
Inform financial aid administrators about atypical expenses. Certain allowances may be made to assist you.

Tip 6:
Take advantage of tuition prepayment discounts. Some colleges offer up to a 10% discount for early payment.

Tip 7:
Money from grandparents should be paid in your name directly to the school. This avoids gift tax liability.

Tip 8:
Investigate company-sponsored tuition plans. Many employers will invest in the education of their employees.

Tip 9:
Apply! You can’t win awards or receive funds for which you do not apply, so pay attention to deadlines.

Tip 10:
Use scholarship search engines like FastWeb to help you find the private sector assistance you need!

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