7 Big Mistakes to Avoid When You Apply for Financial Aid

The cost of a college education in the United States is rising. According to the College Board, it can cost your family $23,890 to send your student to an in-state public school, and $32,410 for a private school. To help American families with college costs, federal and state governments and colleges give more than $200 billion annually in financial aid. Your student can apply for financial aid to receive support to help meet the costs of obtaining a college education.

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How to Negotiate a Financial Aid Award

You may remember months ago you completed the Free Application for Financial Student Aid (FAFSA). The FAFSA form, sponsored by the U.S. State Department of Education provided your family with an index called the Expected Family Contribution (EFC). This amount told colleges how much you could afford to pay for the cost of attendance, including tuition, room, board, and fees. With this information, colleges formulated a financial aid package comprised of scholarships, grants, work-study, and loans. If the college does not provide your family with a competitive package, read this article to learn tips on negotiating a better financial aid package. Also, download a free sample template letter.

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You’re Accepted to College! Now what?

Getting accepted to college will be the first of many great accomplishments in your life. After crafting the perfect application – taking SAT exams, preparing for interviews, and writing essays that best captures you — the hard work paid off. But what comes next?

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