financial aid

  pic on cc license from flickr user 401(k)2013 U.S. News and World Report has a list out of the schools that meet full financial need. The quality of schools available to students may surprise you.

 image by flickr user guillaume lemoine, cc license Consider this scenario: a student receives a Pell Grant for his or her freshman year of college. That student proceeds to do well in school, with at least a 3.0 GPA. However, when it comes time to file the FAFSA (necessary for accessing another year of Pell Grant funds) during their freshman year, the student skips the process. Seems strange, right? That's what some researchers think, too. 

  decoder disc, image by flickr user LEOL30, cc license Yesterday, we covered the difficult coversations parents and students have when they negotiate which school to choose. For many families, cost is a major consideration. In fact, according to this U.S. News survey of college freshman:For 48.7% of freshman, financial assistance was very important in their final college choice. For 45.9% of freshman, the cost of attending their choice was very important in their final college choice. To understand the difference in costs, families need to compare their financial aid awards. The problem is, however, that these award letters can be confusing.

   image by flickr user lendingmemo (cc license) Over the past four months, debit cards on college campuses have faced heightened scrutiny. Much of this scrutiny has come from the Consumer Financial Protection Bureau (CFPB) and the Government Accountability Office (GAO). Today, the Department of Education's Office of Inspector General has published a report that is sure to garner attention, both on Capitol Hill and on college campuses nationwide. 

  photo by flickr user lendingmemo (cc license) A recent Reuters piece details a few tricks that some families do in hopes of getting a better financial aid offers. However, unlike most news articles concerning financial aid tricks, these tricks are considered ill-advised. As the article states, “These methods carry significant risks and may not even work.”

Parents of new college students recognize that the transition to college is a BIG deal.   The transition is a major life event for both students and the family. In fact, according to the research by UCLA - about 25% of freshmen students do not progress successfully to become sophomores.  Despite the efforts of so many people to select, enroll and pay for that freshmen year, many students do not overcome the obstacles they face in their new environment.  

There is some common misunderstanding about financial aid for college bound families. The infographic below illustrates 8 of the most common myths surrounding the world of financial aid. For more information regarding scholarships and financial aid, please click here.

Most students need help paying for college, but where does financial aid come from and how do you get it? Billions of dollars are used to finance higher education each year; in 2009-10 alone, $199.2 billion was awarded to students in the form of grants, in addition to another $8.5 billion in state and private loans. Want to see some numbers? Here’s a breakdown of college financial aid: where it comes from, where it goes and all the other details.