January 2017 College Financial Aid Update

2017 College Financial Aid Advice

This is our January 2017 financial aid update.  This information is inspired by the last couple of weeks and the many families we have spoken to that did not know some of their child’s college(s) had a January 1st deadline for financial aid. The result, some of these families missed the deadline. One common mistake is that families will go by the Federal deadline for FAFSA, not the college’s deadline. Big mistake. In addition, families are being misinformed by various sources including high school guidance counselors pertaining to the financial aid process. For example, they are being told that the FAFSA is the form that needs to be filed to be considered for financial aid. For many families this is simply not true.

There is another form that is required at many colleges called the CSS Profile (please see my earlier blogs on Profile). If the profile is required, the college will utilize the information solely for the purpose of awarding gift-aid (FREE money). So if Profile is not filed or if one misses the deadline, the student will lose out on good aid.

The bottom line here is that families should not always rely on the system for the correct and appropriate information. These resources will not assure them of complete success in the process. What families should do is seek out a proven and trained expert. They will provide families with invaluable information, advice, and insurance that they will receive the best financial aid award(s) possible.

If you have missed a deadline, please contact our office for appropriate advice. In addition the next two hard deadlines at some colleges for Profile are Jan 15th and Feb 1st.

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