A question I might ask a family is, “What is your Expected Family Contribution (EFC)?” and more often than not, the family will not know. This is clearly an area where many families are confused about the process and I want to post some helpful resources here for you. This is MOST critical for seniors as the best time to apply for financial aid is earlier in the calendar year (I recommend completing these applications by the end of DECEMBER if possible). The first step to financial aid is always with the Free Application for Federal Student Aid (FAFSA) which opens each year October 1. It is best to get your application in sooner rather than later so get your tax paperwork ready and get ready to fill this out soon. Keep in mind, if you have a unique family situation (divorced family, single parent, grandparents raising a child, foster children etc.) you may need extra time to gather your materials and fill this out accurately.
Here are some of my favorite financial aid resources:
NY Times – *Numerous great articles on NY Times – just search “NYTimes Financial Aid”
Did you know? The higher your test scores are, the more money you may be awarded! One of our students was just awarded $29,000/year to Miami University (total cost there is $32,000/year) after he increased his ACT score past their threshold of 33. Contact our preferred provider, Arbor Bridge – email Erica@ArborBridge.com to get set up with a free consultation and diagnostic test today!