financial aid eligibility Archives - Page 2 of 4 - College Aid Consulting Services

Ronald Ramsdell June 9, 2016

FAFSA Changes 2017-18

Starting with the high school graduating class of June 2017, the timetable and tax year associated with the FAFSA changes 2017-18. The high school class of 2017 will be eligible to file the FAFSA starting on October 1st, 2016, three months earlier than in previous years. They will use 2015 Federal income tax returns (known as Prior-Prior Year (PPY)).

Take special note there is some uncertainty for the high school class of 2017. For example, the deadlines for institutional aid may change at some colleges. Also, students may initially receive estimated financial aid packages because college costs for the coming year may not be finalized and/or because state grant data may not be available. If this is the case, the families will subsequently receive confirmed financial aid packages. In addition, financial aid is based in part on the family’s income, and if that changes during that two-year period, the family could either lose money or have to file an appeal and go through a lengthy process to retain it. Instead of streamlining it, for a small portion of people, it adds an extra step if their circumstances change. Many things can happen in a year.

One thing that parents need to know is that they have the option to utilize their 2016 tax information to file FAFSA and the CSS Profile and they should if there is less income reported compared to 2015.

If you would like more information on FAFSA Changes 2017-18 and information on how to increase your financial aid options, please contact our office.

Filed Under: College Life Tagged With: College Planning, CSS Profile, FAFSA, financial aid eligibility, Paying For College

Ronald Ramsdell May 3, 2016

High School Junior Students Need To Plan For College Now

Financial Aid Awards

Any high school student that is junior needs to start a plan now to reduce the cost of college. Beginning this summer, here are five things you should be doing to get ready for college:

Research & Visit Schools

If you haven’t already begun visiting colleges, you should get started. The summer is a convenient time to explore colleges and universities. You should also visit school web sites, attend college fairs in their area and talk to their guidance counselors about potential schools.

Continue Taking Challenging Classes

The most important factors that colleges weigh most heavily when evaluating an applicant is your grade point average and the caliber of the courses that you take. Your GPA is a greater predictor of college success than standardized test scores.

The grades that you receive your junior year will often carry more weight than earlier ones. However, you should not take classes just to get a weighted grade or that would be too difficult. You are not going to impress anybody by getting a “C” in AP Calculus.

Know What College(s) You and Your Parents Can Afford

Sit down with your parents to discuss what is going to be expected from you and them in affording a particular school(s). Knowing ahead of time what your family can really afford will allow a more efficient college search.

Check Out Net Price Calculators

When researching schools, use a school’s net price calculator, which is located on the institution’s website keeping in mind the majority of calculators are not totally accurate. However, they will give you a sense of what to expect.

Take the SAT and or ACT

If your score for the ACT and or SAT are disappointing, consider looking at schools that are test optional. About a third of the nation’s 100 top liberal arts colleges are SAT and ACT optional.

Next Steps

If you would like more information on any aspect of your college pursuit, please contact our office. With our 26 years of experience, we are able to inform you on what you should expect from a particular 4 year state or private university in the United States.

Filed Under: High School Planning Tagged With: financial aid eligibility, High School Students, Paying For College

Ronald Ramsdell January 9, 2016

What Do Colleges Consider When Deciding Financial Aid Award For Students?

Financial aid awards have many factors that come into play at various colleges when determining how much a student will receive.

First, what is the true need of the student based on the formula(s)? There are one or two of three formulas that will come into play. You have the Federal Methodology, Institutional Methodology, and The Consensus Methodology that will determine the true need based on the information provided on the FAFSA, CSS Profile, and or the college’s own institutional form.

Second you have the academic side. Colleges will offer scholarships based on a GPA and or the ACT and SAT results. In addition, because the admission game has changed over the years, if a college appreciates the student’s abilities, talents, and background, they will be desirous for that student to be a part of their incoming freshman class and therefor will offer more gift-aid.

Then you have the leverage component. If a student was offered a magnanimous award from another school other than their first choice, they may have the opportunity (if done right) to negotiate for a better award.

If you would like more information on how to retain a better financial aid package, please contact one of our experts.

Filed Under: News Tagged With: CSS Profile, FAFSA, Financial Aid, financial aid eligibility, Paying For College

Ronald Ramsdell January 6, 2016

Do Not Make Mistakes On The CSS Profile

This time of the year I have the opportunity to review many CSS Profile forms for parents who learn of our firm and are seeking valuable advice. In 99% of the Profiles I review, I will find mistakes that the parent made resulting in less financial aid and more importantly less grant money. For example, I just reviewed a Profile for a parent that completed but did not submit it and found five mistakes that would of cost them around $12,000 in financial aid eligibility. Needless to say, this family is now our client.

As I have stated many times in the past, the Profile is an institutional form. So with that in mind, the college(s) can and will ask for more personal information on Profile compared to FAFSA and some of the information requested on the Profile does not need to be disclosed. Another point here in regards to completing Profile and all other financial aid forms correctly is the correct interpretation of the question(s). If you would likeus to review your Profile or any other financial aid form that is required, please contact our team.

Filed Under: News Tagged With: CSS Profile, Estimated Family Contribution, FAFSA, Financial Aid, financial aid eligibility

Ronald Ramsdell December 31, 2015

FAFSA Deadline Is Decided By School Not January 1st 2016

Contrary to what you may hear, the FAFSA deadline for student financial aid is not January 1st 2016. I spoke with a new client earlier today and she stated that her daughter was told by the high school that the FAFSA needed to be filed on January 1st. Wrong!

Each college will have their own specific deadline for FAFSA. More importantly, if the high school counselor wanted to share some valuable advice, he or she should have elaborated on the CSS Profile which is required for this student. For many families the FAFSA will not play a part in receiving need based gift-aid. If a college requires the CSS Profile, they will use that information to determine any grant money from the college’s endowments.

So with that in mind, the family needs to focus on the Profile deadline at each school. In addition, advice for parents and students, do not rely on the high school guidance counselor for the correct information regarding the financial aid process. They are not trained experts in this area. For more specific needed information on Profile and the FAFSA, please contact our office.

Filed Under: News Tagged With: CSS Profile, Dates, FAFSA, financial aid eligibility, Gift Aid

Ronald Ramsdell December 30, 2015

Fund A MBA With Financial Aid

We get questions is it possible to fund a MBA with Financial Aid? The short answer is yes. Below are 5 of our best tips to understand your options for making that Masters In Business degree possible and more affordable.

Research, research, and research. The more time a student invests into their search, the more options they will have to make an appropriate decision based on cost and other factors. Because financial aid availability will vary from school to school, they should not rule out an institution that has a higher cost. The good news, there are some decent inexpensive online programs available to fall back on due to lack of money.
Schools will charge a higher price because they can. MBA degrees are more popular than other masters programs because of the downright demand for them and can quote the higher cost. Even though a lot of institutions offer the program, it’s still in high demand. Also, additional fees will vary from school to school.
There are many good value colleges that are AACSB-accredited. Degrees from schools with AACSB-accredited programs offer graduates a return on their investment by providing them with the professional competencies required to compete and advance in their careers.
The student needs to be proactive. Make ample time to search out scholarships. They are many out there to be had. Also check with the college for any “in-house” scholarships. Also check out Company scholarships. Regarding textbooks, check to see if you can borrow them for each semester or see if they can be downloaded. Check out to see if there are tax deductions they can utilize relating to higher education. A student should consider living with their parents which would be a great amount on rent. Regarding student loans, check with local banks first before utilizing Federal Loans. They may have better interest rates and terms which will save you in in the long run.
Last tip and the big one, start saving early!

If you would like personalized help from Financial Aid experts please contact our office for a complimentary consultation.

Filed Under: News Tagged With: Admission, College Planning, Financial Aid, financial aid eligibility, MBA

Ronald Ramsdell December 23, 2015

Careful The Information You Provide On The CSS Profile & FAFSA?

The CSS Profile ( College Scholarship Service Profile) unlike FAFSA (Free Application For Federal Student Aid) is an institutional form. So with that in mind, the article is right in that the Profile will ask for much more personal information than the FAFSA. However, the article also states you’ll have to report more information. Incorrect, you do not have to disclose certain information on Profile or any other Institutional form for that matter. I have been saying this for years, the Profile (FAF in previous years) was created by the system not to hand out financial aid. The more information one discloses to the college, the less financial aid. If you would like more valuable information regarding how to correctly complete financial aid forms, please contact us for a complimentary consultation.

What Is the CSS Profile and Will You Need It to Get Financial Aid?
News Source: Money Magazine Online

Filed Under: News Tagged With: CSS Profile, FAFSA, Financial Aid, financial aid eligibility, Scholarships

Ronald Ramsdell December 7, 2015

Financial Assets & How They Affect Financial Aid

The article elaborates on assets and how financial assets affect financial aid eligibility. First of all, many who are completing the required financial aid forms do not know that certain assets do not have to be reported. Second, families with certain assets can implement appropriate strategies to increase their financial aid eligibility. If you desire valuable advice from a trained professional with over 25 years of experience, please contact our office.

5 Reasons Why You Won’t Get Free Money for College
Source: gobankingrates.com

Filed Under: News Tagged With: College Planning, CSS Profile, FAFSA, financial aid eligibility, Parents

Ronald Ramsdell November 24, 2015

Fordham University Success Story

Our client wanted my thoughts on their son’s initial award from Fordham. Based on the numbers and knowing what the school is capable of, we felt they could do better and recommended to negotiate. After the college received a letter we drafted, they increase the 2nd award by $3,500 of a Fordham Grant for the first year. Contact our offices if we can give you a complimentary review of your financial aid offer.

Filed Under: News Tagged With: Admission, Appealing, College Planning, CSS Profile, Financial Aid, financial aid eligibility

Ronald Ramsdell June 16, 2015

Pell Grant Changes Affect Students

Congress wants to weaken the Pell Grant program that helps parents and student afford college tuition. The Pell is important form of financial aid that allows millions of low income students to pursue their college education. What about the Federal Supplemental Educational Opportunity Grant (FSEOG)? The author does not elaborate on this Grant. Many students who are Pell Grant recipients will qualify for FSEOG. Many critics claim that programs like Pell increase the cost of college. Not true. What has increase the cost of college over the years is the vast availability of Federal Loans especially the Parent Plus Loan which parents can borrow as much as they want minus the aid originally offered each year.

If you are looking to maximize the financial assistance for your student to attend college, please contact our office today to learn how we can help.

Congress Wants to Weaken the Pell Program. Here’s Why They Shouldn’t.
News Source: huffingtonpost.com

Filed Under: News Tagged With: College Planning, Financial Aid, financial aid eligibility, Parents, Pell Grant