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Written by Chuck Bowen
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Monday, 22 October 2007 07:23 |
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Yes, I know the best way to pay for college is to save early and adequately, beginning almost the moment your child draws his/her first breath. But, for most of us, that just didn't happen. So what are your alternatives?
For many, student aid definitely comes into the picture. To determine eligibility for federal aid, the FAFSA (Free Application for Federal Student Aid) formula takes into account parent and student income and assets to determine the "expected family contribution" — or how much of the financial burden the family is expected to shoulder. The formula also takes into account how many students are in college — the more siblings enrolled, the greater the chances the family will qualify. And it looks at the age of the oldest parent, giving more consideration to families with a wage-earner closer to retirement. For more wisdom on improving your chances to win financial aid, click on the article link just below.
Also, if you're interested in finding out how to help your kid(s) win scholarship awards to the college of their choice (without you going broke), check out N2College Consulting. Last year, their highschool seniors were awarded an average of almost $49,000 in scholarships!
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