Financial Resources

Financing college is another daunting task.  I am not a financial aid expert and therefore, do not advise on financial matters.  I will help you and your student understand institutional merit aid options, but a professional in the field of finance and preferably a professional with a great deal of experience in college financing specifically, should be consulted as early as possible to help your family strategize ways to pay for college.

 

I do advise that all families fill out the FAFSA (Free Application for Federal Student Aid) regardless of need or potential to receive government aid.  This is because 1) some colleges require this be filled out even to be considered for merit aid, and 2) unexpected life circumstances can drastically change a family's financial situation.  If you have filled out a FAFSA and this happens, you can update it in hopes of being reconsidered for aid, but if circumstances change after the deadlines and you do not have a FAFSA on file, your chances of being reconsidered are often much slimmer. 

 

 I strongly advise completing the FAFSA shortly after it becomes available in your child's senior year.  

 

 

 

The Net Price Calculator can be used to help estimate what colleges will see the amount your family should contribute to their child's education based on the income information you provide.  This link will take you to a College Board site that estimates your Student Aid Index - an index used by all colleges to help determine need-based aid. However, all colleges have their own net price calculators on their Financial Aid websites as well - these will be more accurate to the specific college's financial aid policies.

 

 

 

Many private college require families complete the CSS Profile in addition to the FAFSA to apply for financial aid.  Families should check the financial aid websites of each college to which they are applying to see specific deadlines and requirements.  If you are applying Early Decision to any colleges, it is not uncommon for the CSS Profile deadline to be as early as November 1st!!