Financial aid can help much when you’re putting your child through college. With rising college fees and costs, however, it is progressively becoming harder. Seven years ago, the average cost of a year’s stay at a four-year institution was $19,362. The costs now would be even higher, and that’s why you’ll need the help of experienced college funding advisors to ensure that you get the most out of the available financial aid out there.
The most basic financial aid program that you can apply to is the Free Application for Student Aid (FAFSA) program. It also forms the basis of how much financial aid various colleges award their students. Some colleges even make it a requirement when you’re applying for financial aid; for some scholarship programs, a rejection for financial aid is even a requirement. This is why it’s important to get your FAFSA application out of the way as quickly as possible.
College nowadays is an expensive undertaking; depending on your child’s choice of college, you may end up paying hundreds of thousands of dollars. You won’t even be able to depend on the college fund that you saved up, since increasing fees mean the fund might not even be enough to cover the customary four years. This is why you and your child should consult expert college financial advisors to help you both with paying for college.
Experienced college planning advisors will help you focus on the main source of a lot of financial aid: the Free Application for Federal Student Aid (FAFSA) Program. Groups like The Studemont Group College Funding Solutions, LLC can help ensure that your application for FAFSA will be approved and you can get as much financial aid as possible.
If the college or university you want hasn’t come with an offer for you, don’t fret. Professional college funding advisors like John McDonough can help you secure another way to get into the campus of your dreams. Sometimes, paying in full or applying for federal aid is better for the long run than a scholarship offer.
Not only does this tip apply to pre-pubescent kids but also anyone old enough to respond to his or her true calling. If your true calling is a shot at the NBA, then go for it; just don’t rush things. Know that you have a good college financial aid consultant like The Studemont Group College Funding Solutions, LLC to help out if you’re in a pre-collegiate pinch.
Nevertheless, many college financial advisors like John McDonough believe the flat-rate tuition system makes college planning a whole lot easier. With added transparency and flexibility, the beleaguered college student can plan more effectively without the risk of hidden costs. Financial aid or none, it’s a step in the right direction.
Before choosing a college, however, students should take time to assess their financial standing with the help of professional college planning advisors such as the Studemont Group College Funding Solutions, LLC. They gather information regarding a student’s finances and propose the best possible approach to getting a college degree.
This doesn’t mean you have to live on canned food, but you should learn to manage money for college efficiently. Bankrate.com suggests buying old books, for instance; you may also check the Internet for free online copies. If you’ll be living outside of school, opt for the nearest area to reduce your transportation expenses. Tightening one’s belt is alright if it means having a more stable future ahead.
Scholarships and grants are help that you won’t need to repay. While they may have really high standards and you aren’t confident to be granted, apply anyway; you only have zero chance of getting financial assistance if you don’t apply in the first place.
This list of tips is not exhaustive. There are many more options that good college funding specialists—like John McDonough of The Studemont Group College Funding Solutions, LLC—can give you. Be sure to listen closely and keep your eyes open for opportunities.
In addition to the towering tuition fees looming over incoming students, the threat of massive debt after graduation is also a serious concern for families who want to send their children to college. $200,000 worth of debt or more in exchange for a diploma is now uncomfortably common among fresh graduates, and this is a very probable future for those who are planning to get tertiary education.
Getting a free ride to college is next to impossible for many, even those who have superb scholastic records. However, there are other avenues to lighten the financial burden of college tuition and other fees. Companies such as The Studemont Group College Funding Solutions, LLC offer ways in which parents can maximize the various types of financial aid available to them and lower their out-of-pocket expenses with guidance from a college financial advisor.