If What You Thought to be True about Financial Aid...

What I thought to be true about college funding, may not be true!

There are a number of misconceptions about college and financial aid. Although most parents might believe each of the following to be true, they are not.

Income is only one of 7 factors in determining federal financial aid eligibility. It is important not to lose sight of the other 6 when making financial aid eligibility calculations. If you do not complete the aid-eligibility process (FAFSA-the Free Application for Federal Student Aid), you will lose any and perhaps all opportunities for aid.

While Private Schools typically have a higher “Sticker Price”, the amount of time to graduate is typically less and they have greater private financial aid opportunities than do State or Public colleges and universities. These two factors often result in narrowing the difference in out of pocket expense between the two types of institutions.

Debt is NOT a factor in aid determination. Another reason to immediately become cash flow efficient and eliminate debt as aggressively as possible before incurring college expenses.

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