Top Ten Financial Aid Tips for Parents Claymont DE

Top Ten Financial Aid Tips for Parents

Looking for financial aid to help foot the tuition bill? Follow these 10 tips to help you secure the funding help you need and remember - don't wait until your child's senior year to start thinking about financial aid. The sooner you start, the more money you may be able to find.

1. Get an early idea of your EFC
Estimate your Expected Family Contribution (EFC) during your child's junior year. By getting an idea of what you might pay, you can find colleges within your price range and identify what you might need in scholarships and loans to manage your tuition costs.

2. Reduce your child’s savings
An entire 20 percent of your child's assets are considered available for college, as opposed to just 5.6 percent of yours. Encourage your child to save, but keep college funds in a custodial account.

3. Learn a little about marketing
This is one of the most important aspects of competing for merit-based awards. Highlight your child's accomplishments and an award committee will be that much more likely to consider giving a scholarship to your son or daughter.

4. Make financial aid a part of your campus visits
Ask to speak with someone in the financial aid office - it's the best way to get your family on the radar for campus-based awards. Afterwards, take some notes! These contacts could come in handy later.

5. Do a bit of detective work
Determine if your child's application for aid affects.

Author: Amy Ambler

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