Financial Aid Blog
We had two great local college planning workshops last week! Here are some comments from people who attended: "I now have a hopefulness of having the ability to receive aid." - JG (Oconomowoc) "We learned that there are ways to get more money to assist us. I wish I would have known this when I went to college!" - TC (Oconomowoc) "It was great learning information about how colleges distribute their grants." - JN (Dousman) "Learned about the appeal process - never heard you could do this before. Also learned about profile schools." - MM (Oconomowoc) "Information was very honest and straightforward."
Our final two workshops of the year were incredibly successful! Here are some of the comments we received: "I liked the info on the ACT scoring and how that impacts financial aid." - KC (Grafton) "I actually learned more that I had questions for!" - KG (Germantown) "Good information. Great visuals." - MH (Whitefish Bay) "Great advice on financial aid and college planning." - SH (Shorewood) "Great presentation of information." - BC (Wauwatosa) "I realize I need to know more. Thank you!" -AE (Wauwatosa) " I liked the examples of tuition, grants and loans." - SF (Whitefish Bay) "This is 100 times
We had a great workshop last night at WCTC! Here are some of the comments we received: "It's good to know that I have options." - DB (Pewaukee) "Financial aid is very confusing. But it is good to know that we can get some help. It's worth getting this information firsthand with someone who has knowledge." - DS (Pewaukee) "It's good to understand the important of tax prep and early filing." - LJ (Brookfield) "Straightforward answers from a knowledgeable person." - MM (New Berlin) "Confirmed we are starting at the correct time. We need all the help we can get." - CG (Pewaukee)
We had a great workshop last night at the New Berlin Public Library! Here are some comments we received from those who attended: "Good basic info. I wish I would have done this a year ago!" - LP (Elm Grove) "Clear and helpful presentation." - SJ (Waukesha) "The thing I liked most about the workshop was the descriptions of the financial aid awards." - AF (Waukesha) "I like the true cases and stories you presented the most." - BW (Hartland) "There are many different avenues to go to. We need to make sure to plan ahead!" - MA (Cudahy) "Very knowledgeable and informative." - CD (Brookfield) "Thanks so much! You answered
How to negotiate the best deal on a college education for your child: 1. Know historically what each college you are applying to have given out in financial aid. When it comes to financial aid, not all colleges are created equal. You don't want to find out in May that the colleges your child applied to covered most of your need in student loans. 2. You need to know the financial aid formula: Cost of Attendance - Expected Family Contribution = Need. 3. YOU NEED TO KNOW YOUR EXPECTED FAMILY CONTRIBUTION!!! 4. Make sure you position your child in colleges where t
We had a great workshop last night at the Whitefish Bay Public Library! Here are some comments we received from those who attended: "We now know where to start the process since we weren't sure we would qualify for financial aid." - RM (Cedarburg, WI) "Great to learn information on the time lines and deadlines for filing forms." - PG (Milwaukee, WI) "A lot of helpful information given that I didn't know before." - JH (Milwaukee, WI) "Very clear and concise presentation." - PD (Wauwatosa, WI) "You did a good job providing an overview of the process. We didn't realize this is how it worked!" - KS (Cedarburg, WI)
I received some financial aid awards. Now what should I do? You need to make sure they meet most or all of your financial needs. If they don't you need to call or write to the school to discuss why they left you short. Try to create subtle competition with other schools your child applied to.
Do all schools give out the same amount of money? No. Some schools are well endowed and get a lot of money from alumni and corporations. These schools have more money to give out and are generally able to meet most or all of a student's financial need. Other schools, such a state universities, get no private funds and rely solely on state and Federal funds to help fill a student's need. In many cases, these schools leave students short and give them less money than they are eligible to receive. In the long run it can cost you more money to send
Applying to the right colleges. To increase your chances of getting the best possible financial aid packages, it is imperative that you pick schools where your child lies in the top 10% of the incoming freshman class with respect to GPA, ACT and SAT scores. Although schools give financial aid based on your calculation of "need," they will definitely give preferential packaging to those who lie in that top 10% of the incoming class. This means MORE grant money and LESS student loans. Use this to your advantage and only apply to
I thought only minority students, athletes and academically gifted students get financial aid. Is this true? Nothing could be further from the truth. "Need-based" financial aid is solely awarded on financial need, which is calculated by taking cost of attendance at a school and subtracting your EFC (Expected Family Contribution). Whatever is left over is your "financial need." This has nothing to do with a student's ethnicity, athletic ability or grades. It is based on this simple formula: COA (Cost of Attendance) - EFC (Expected Family Contribution) = FN (Financial Need)