We're going to start by talking about the 10 deadliest mistakes almost every parent makes when trying to find money for their child's college education.
It could end up costing you thousands of dollars if you make any one of these mistakes and you could lose out on potential funding.
Let's get started on this article content that will reveal to you how to get the most amount of funding possible from every school your child applies to
Mistake #1: Most middle and upper-middle class parents assume they won't be eligible for financial aid because they own a home and make too much money.
Fact: There are little-known grants and dollars from private foundations and organizations that allow some financial aid to be given no matter what you income is!
You just have to know how to get your "fair share."
The problem is that many parents give up after a short search or an initial rejection and they never reap the reward...and these funds are never claimed..you may as well TRY!
Mistake #2: Focusing your time and energy on a private scholarship search instead of spending your time trying to qualify for "need-based" financial aid.
But the fact is that 99% of all the available funds come from the school your child applies to or the Federal Government...and only 1% from Private Scholarshps! Focus on where you can get the most.
Mistake #3 is thinking that your child will not get aid because they are not an athlete, gifted academically or a minority
Reality: Nothing could be further from the truth!
The government gives a calculation of "need" and you need to calculae the family's effective contribution compared to the cost of attendance
This calculation has nothing to do with the level of grades or sports achievement your child plays at...it's a simple formula
COA (Cost Of Attendance) - EFC (Expected Family Contribution) = FN (Financial Need)
Mistake #4: Picking colleges and universities without paying attention to where your student lies in relation to the rest of the student body.
Schools will give the best financial aidpackages to students with the best GPA/SAT/ACT and who are in the to 10% of incomg freshmen
This is simply because schools want to get the best students to attend...so use this to get your child the best chance and apply only here they will fit this niche
Mistake #5-Thinking tat every school ist he same and will be willing to give the same level of funds
The schools most able to give you money are the ones who are well-endowed with a generous alumni association.
State universities don't get any private money and they have to get their help from the Federal Government to help their students
In many cases, these schools leave students short and give them less money than they are eligible to receive. It can actually end up costing you more to send your child to a "cheaper" school if they don't have the money to meet your need. It is very important that you know each school's history of giving money before you ever apply, so you're not blown away when you get a bad financial aid package from your child's top school choice.
Helping you make your child's' college dreams come true...
More Information:
Categories
