10 tips for paying for college
June 16th, 2006Now that you have received your acceptance letter, sent in your housing application and accepted your financial aid package, you are probably wondering what comes next. If your financial aid package is a little on the low end, revisiting your game plan might be in order.
To jump start your search, FastWeb has created these 10 tips to help you pay for college.
Tip 1: Prioritize your efforts, starting with the federal government. Then turn to the private sector for additional assistance. Visit FinAid.org to learn about all your funding opportunities.
Tip 2: Learn all you can about the college financial aid process. Be sure to meet your financial aid administrator and establish a relationship.
Tip 3: Submit a FAFSA, even if you don’t think you qualify for aid. Being rejected for federal aid is sometimes a prerequisite for private awards.
Tip 4: Apply for aid as soon as possible after January 1. At many schools, funds are limited; the sooner you get your application in, the better.
Tip 5: Inform financial aid administrators about atypical expenses and special circumstances. Certain allowances may be made to assist you.
Tip 6: Take advantage of tuition prepayment discounts. Some colleges offer up to a 10 percent discount for early payment.
Tip 7: Money from grandparents should be paid in your name directly to the school. This avoids gift tax liability.
Tip 8: Investigate company-sponsored tuition plans. Many employers will invest in the education of their employees.
Tip 9: Apply! You can’t win awards or receive funds for which you do not apply, so pay attention to deadlines.
Tip 10: Use scholarship Web sites like FastWeb to help you find the private sector assistance you need.
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