Financial Aid Questions to Ask

Important Questions You Need to Ask About Financial Aid

  • Do you always meet full financial need?
    Basically will your child get full coverage for college costs … answer will likely be no, but be clear about what you are getting.
  • How are your financial aid packages structured?
    What you are getting at here is the mix of grants, loans and work-study, not just the total package.
  • Can I keep my outside scholarship?
    You want to make sure the outside scholarship is not simply a replacement for other monies promised by the institution.
  • Do you offer merit awards, and can my child qualify?
    If your child ranks in the top 20% of the freshmen class, he or she is a good candidate for a scholarship.
  • How does early decision affect the financial aid package?
    Many financial experts say that if you need aid, you should not apply early decision. However there are many factors to consider, so weigh advice from different sources.
  • What is your appeal process?Nowadays colleges expect parents to negotiate packages. Find out the procedure you should follow to make an appeal, and how quickly you need to deliver the information.

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Sources

http://www.excite.com/education/business/finance
http://www.excite.com/education/business