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tods5eshoes · Wysłany: Pią 13:16, 11 Mar 2011 Temat postu: choo 1959

Insider Secrets About Financial Aid Awards Letters To Connecticut Colleges That Parents Don't Know
For many Connecticut parents this is the time of the year that college bound seniors start receiving awards letters from colleges. All of the hard work required in visiting colleges, taking the SAT and ACT while juggling all the applications has finally paid off. However,[link widoczny dla zalogowanych], the joy and excitement of receiving the awards letter quickly turns to a bitter realization. The only financial aid that the college awarded your family is in the form of a high fee, high rate loan that the family simply cannot afford.
Why does this happen?
How do you as a parent tell your student that they have worked their butts off by achieving excellent grades in college prep classes,[link widoczny dla zalogowanych], spent every summer and weekend enhancing their extra-curricular activities and beat the pants off of the SAT and now they might not get to attend their dream college that accepted them.
For all intents and purposes everyone did their job. The student was accepted into the school of their dreams. Seems like a job well done, until you realize that you only have five weeks before you have to commit to the financial aid award and you only have five months before school actually starts. It wouldn't be so bad if the schools actually awarded your student some aid in the form of grants and scholarships, but the most that you got was a Parent Loan for Undergraduate Students (PLUS) loan.
This is the time of year that families call my office in tears because they did not understand the Department of Educations eligibility rules for financial aid. As a result of not understanding the financial aid rules they failed to position their finances to maximize their eligibility. We have to pull out all the stops to get the awards appealed or help the family put together a college funding plan to pay for the cost of college without living on peanut butter and jelly for the next four or six years.
It only takes us a few minutes of reviewing the awards letter to recognize that the family's Expected Family Contribution (EFC) was way too high. The EFC is generated when you fill out your financial aid forms (the FAFSA and the CSS Profile, typically. ) Unfortunately many families receive this same type of result and in many cases the EFC are even higher than the cost of attendance. Many parents are even more frustrated when they realize that this mistake could have been easily avoided by some simple planning.
If the first time that a family is calculating EFC is in the fall or spring of the senior year of high school then you are just asking for trouble when it comes to getting the free money in the form of grants and scholarships. EFC should be calculated by sophomore or junior year at the latest. This will allow you to put together a financial plan to pay for each and every college on your student's list before the first application is submitted. By the way do not be surprised when you initial EFC is a very high number. You have the time and if you reach out to us we can help you get your EFC down to a controllable number. As a b[link widoczny dla zalogowanych] rule of thumb the lower your EFC, the more aid you will receive in the form of grants and scholarships. Even the top s[link widoczny dla zalogowanych]ls in the tops schools in the country will be within reach.
As a parent of a college bound student it is very important that you understand that some schools,[link widoczny dla zalogowanych], particularly private, selective schools, simply have more money to offer than others. Their awards are usually more grants than loans. If done correctly you do not have to burden yourself or your student with a mountain of student loan debt right out of the gate. More importantly, you should know that the majority of schools award grants and scholarships on a need basis and not on merit basis. This means that you have to know the rules of the game to show a need,[link widoczny dla zalogowanych], because after all we all need some financial aid when it comes to paying for college tuition. You must have a game plan before you start submitting your applications.
After receiving the first bill for college tuition it is not hard to understand that college financial planning is equally critical as admissions counseling and SAT preparation. Why should you spend all of your energy on getting into a great college, but find out that you cannot afford to help your child show up for the first day of classes? Learn how you can lower your EFC and pay for college without going broke by Clicking Here. Find out the single biggest mistake 9 out of 10 parents make when applying for aid to Connecticut Colleges that literally cost them thousands of dollars! More importantly, how to avoid this fatal error! Click Here.Topics related articles：

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