I found this article today and I thought itÂ wasÂ worth sharing. AlthoughÂ a couple of the questionsÂ are geared toward traditional students,Â the majority apply toÂ those of us who areÂ online students as well. Enjoy!
By either reading the collegeâ€™s written materials on financial aid or speaking with one of the collegeâ€™s aid counselors, you should get clear and decisive answers to the following fifteen questions:
- Can I get an early estimate of the type and amount of aid I might receive?
- Do I have to fill out a school-specific aid application in addition to the FAFSA?
- Do you give both need and merit aid or are you a need-only school?
- If you give merit aid, what are the eligibility standards for your scholarships?
- Will applying for aid affect my chances of being admitted?
- Once you calculate my need, typically what percent do you meet?
- For your average award, what percent of the total package is scholarship or grant?
- If I am assigned a work-study or other campus job, how may hours per week do you expect me to work?
- Will you expect me to work in the summer? If so, how much will I have to earn?
- When evaluating my parentsâ€™ ability to pay, do you include the value of the family home?
- If my family has a special circumstance, like providing support to a sick or elderly family member, will you take that into consideration?
- When looking at student savings, what percent do you expect to go towards my education?
- If my family encounters a financial hardship after I enroll, can you help me? With what type of aid?
- How much do you include in the student budget for books and personal expense? Do you include an allowance for travel?
- How will you adjust my aid award if I win a scholarship from an external source?
Special thanks to Kyle Kandice for writing this article. Karl Schellscheidt ePrep www.eprep.com copyright 2006 â€“ All Rights Reserved, ePrep, Inc.
For more information about financial aid, visit my How to apply for financial aid or Understanding the FAFSA posts.
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