All in Paying for College
There’s nothing harder than getting into your dream school and then not having the funds to pay for it. This blog answers common questions such as: Learning the difference between financial aid and merit offers in my college acceptance letter. How to appeal a financial or merit award from a college. And, how to know how much to ask for.
How do my PSAT scores affect National Merit Scholarships? Junior year PSAT test takers are automatically considered for the National Merit Scholar competition, so the PSAT for juniors is officially known as the NMSQT/PSAT. Each scaled score out of 1520 is assigned to a national merit selection index score out of a maximum 228 points.
How Do Real Families Pay for College?
It used to be that getting into college was about finding the “best” schools available and then giving them a shot. Now we all lie awake at night wondering, How will I pay for college?
Last week’s blog covered how to read your award letter, but what can you do if the amount you are on the hook for is higher than what you can-- or want to-- pay? Ideally you will have sussed this all out before applying to schools, but the reality is that a school isn’t always transparent about expected family contribution, and even when it provides a cost calculator, the school doesn’t necessarily stand by it.
Many questions arise when you read a college’s financial award letter, but what you must focus on is the bottom line: After all is said and done, what will I be paying? The formula is simple: COA - GIFT AID = EFC
This post describes how to negotiate your award package in whatever form it comes (need-based or not).
