Educational Consumer Tips
Financial Aid for College
The process of planning and saving for a college education should begin as early as possible, since the demand and competition for financial aid is great. It is better to learn what options you have now, and begin figuring college expenses into your long term financial plan.
In planning for college it may be a good idea to sit down with your accountant, financial advisor, banker or insurance agent to assess your child's pending long-term educational needs. Aside from investing and saving money for your child's education, there are financial aid programs available to help pay for this expense.
Financial aid servicers, used by colleges and universities, have a standard formula to determine whether you and your children qualify for various forms of assistance. The forms that you fill out represent the beginning of the process of determining whether your child is eligible for financial aid. Get an early start. Information on the federal aid programs can be obtained in several different ways. The best way is to ask your high school's guidance counselor or contact your State Education Department for state and local aid.