I was reading an article recently that was focusing on improving your ability to get more / better financial aid. I thought that other people on sharenotes.com would find some of this information useful so I’m going to paraphrase some of the information I learned.
the First tip has to do with the family contributions that can reduce the amount of aid a student can receive. Basically aid packages are reduced based upon how much money the school (or gov) believe that the family can contribute to the education. If you are mindful of this fact (especially going into the freshmen college year) you can maximize aid. Delaying a bonus until after the new year for instance can reduce the amount of income on the books.
The Second tip was an eye opener for me. We always assume that you can get to school cheaper by going to a state school, when in fact most Ivy league schools and top privates have pledged to meet a great deal if not all aid needs with grants. Private schools can in many cases be far more generous with their aid packages then a state run school can. the caveat of course can be difficulty of entry, however given the generosity of aid, the effort to get in, just may be worth it.
The Third is simple and cut and dry. Apply early. Aid is doled out first come first served. Period. And when the allotted funds run dry, they are out. So Apply early and apply accurately. Pretty simple.
These small tips may not make or break your budget but certainly taking a little advice to help get you the most money cannot hurt. I can speak for most of us on sharenotes.com and say that if it were not for aid, I would not be in school.
