Whether your family has been building a nest egg or a 529 account, the cost of attending college is expensive. Becoming familiar with the terminology of "College Financial Aid” and utilizing tools like the Federal Student Aid Estimator can make estimating college costs easier, clarify if you qualify for need-based financial aid, and help prioritize which colleges should be on your college list. Understanding the lingo of financial assistance will help you find answers to your financial need questions and will help prepare you for the FAFSA process, which opens on October 1st. It will also help you assess if an Early Decision application path is viable and the right plan for you.
Here's a list of questions to help you get started.
Will I qualify for financial aid – either need-based or merit aid?
What is the difference between need-based and merit aid?
Can merit aid bring the cost to attend college closer to what I will pay at a public university in my home state? Which schools will be likely to give me merit aid?
What documents will I need to start filling out the FAFSA form?
How do I fill out the FAFSA form?
Do I need to fill out the FAFSA and CSS for all schools on my college list?
The FAFSA form will be available on October 1st
Applicants can access the FAFSA form at fafsa.gov.
The CSS Profile (College Scholarship Service Profile). Used for Merit Aid.
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