Questions About College Financial Aid

Questions About College Financial Aid

Remember that is is important to start early when seeking college financial aid.  You will likely have a lot of questions as you complete the process of applying for federal and state student financial aid.  Post your questions here and we’ll post the answers for you regarding financial aid.

At the same time, you may be curious about how much financial aid is distributed at colleges where you are thinking of studying.  So consider asking your own questions directly to the colleges themselves, too.  It helps to be creative and persistent when it comes to paying for college.  Some recommended  college financial reading: Paying for College: *Answers to All Your Questions About Financial Aid, Tuition Payment Plans, and Everything Else You Need to Know

Take a look at this video with Ben Kaplan of the CityofCollegeDreams.org who interviewed with Kimberly Maus of BetterTV.com to explain how he managed to receive roughly $90,000 in scholarship awards to help him pay for his Harvard degree.

Featured Video -Advice on Locating Scholarships

Questions to Ask a College about Financial Aid

During your travels to different schools, you might make use of some of the following questions in determining each school’s financial aid policies:

Does the college practice a need-blind admission policy?

What percentage of students is on financial aid?

What percentage of students had their full need met?

What percentage of the funds was need-based?

What percentage of the funds (if any) was merit-based?

Do the same financial aid procedures and policies apply for the entire four years?

If your family has more than one student in college, will that be taken into consideration when figuring out your family contribution?

If the cost of the college goes up, will your aid go up accordingly?

Can the school’s financial aid be used to cover the costs of study-abroad programs?

How are outside scholarships handled? Are they credited against the loan component of your aid, the grant component, or the family contribution?

Do you need a certain grade-point-average to keep your institutional grant?

Are emergency funds available for short-term loans?

Are there any tuition payment plans that will allow you and your parents to spread out your payments over a period of months?

Are emergency funds available for short-term loans?

Are there any tuition payment plans that will allow you and your parents to spread out your payments over a period of months?

What is the policy with regard to non-custodial parents and stepparents? Are they expected to contribute if financially able?

What is the typical financial aid package?

How much indebtedness can be expected after four years?

How many hours a week will be required to fulfill the work-study portion of the financial aid package?