In my last blog we discussed the components of the Cost of Attendance (COA) and Expected Family Contribution (EFC). Financial aid offices subtract the amount families are expected to contribute toward the student’s education from the calculated COA for their school. The result is the amount of need the student has and this is the financial [...]
college financial aid
Do you know what your college defines as full-time enrollment? It is usually 12 to 15 units or credit hours. Do you know how the federal government defines full-time enrollment for purposes of financial aid? You should. It can make a difference of hundreds of dollars in your grant aid. Not everyone’s Expected Family Contribution [...]
I hope you have completed a time budget and understand better how much time you have available for work. How many hours you can commit yourself to work will depend on how flexible your employer is and how far the job is from campus. It will make a difference whether it is a routine or [...]
The whole process of financial aid can be daunting. Sometimes it feels like trying to do your taxes while learning a new language. To make things easier, try to remember the Chinese Proverb, "the journey of 1,000 miles begins with one step." The first step in the process is to APPLY FOR A PIN NUMBER. [...]
If you have completed the Free Application for Federal Student Aid (FAFSA) you will soon receive a Student Aid Report (SAR) in your email inbox. Take a few minutes to look at it. The Department of Ed will put Comment Codes on your SAR with a brief description of what you need to do. The colleges you [...]
The number one reason people don’t get financial aid is because they don’t apply. Their neighbor, brother-in-law or friend told them not to bother, they make too much money. Financial aid uses a federal methodology to determine your family’s EXPECTED FAMILY CONTRIBUTION (EFC). They consider income, but they also consider the number of people in [...]
Have you finished the online Free Application for Federal Student Aid? If not, what are you waiting for? It is true that your Expected Family Contribution (EFC) will be the same no matter how long you wait, but if you procrastinate too long you could lose other financial aid funding. The most needy students as [...]
Hey all – We’ll have more on this later, but wanted to give you a head’s up on changes to the federal student loan program. The new legislation was attached to the health care bill, which passed on Sunday, March 21. The senate still must have its say but it appears the legislation will pass. [...]
