College Admissions Help Blog

College application deadlines are right around the corner, early admissions students should have their applications almost finished for early November deadlines, and regular admissions students – January isn’t so far away! You might be asking how will I pay for college? Or, you may have questions about how to apply for financial aid, when to apply, and whether or not this will affect your chances at a given school or not.

If you have questions about financial aid, you should make use of all of the wonderful resource on the web. Here is a link to help you get started:

Free Financial Aid Webinars for Students

“Let’s face it, financial strategy and planning is not always on the forefront of college students’ minds. There is a lot of great information out there to help students budget while in college, but many busy students don’t have the time or will to read it…”

http://blog.studentloannetwork.com/financial-aid/free-financial-aid-webinars-for-students/

I’m sure by now most of you have been scouring your award letters to find the best deal, and for those of you who still have a few years left to go this information can also help you as you are searching for colleges and becoming informed about paying for college.

Comparing financial aid award packages is not always as easy as it seems. Most students will just look at which school offered the most money, but not necessarily the stipulations that go along with it. For example, the college admission letter one school sent may have offered you a good amount of work-study award money, but if that requires you to work too many hours, it may not be worth it.

When evaluating your award offers, make sure you not only factor in aid put towards tuition, but also add in any extra expenses associated with that school. Will you need to pay for a flight to and from school? Or, maybe buy a car to drive to classes? Extra expenses add up quickly, so factor in any commuting you may have to do, the supplies your major may demand, and calculate these costs into your decision from the beginning to ensure that you can afford to go! (more…)

Hi folks! We’re right in the midst of FAFSA season and students are beginning to receive their Student Aid Reports. I just wanted to let everyone know a little bit more about the SAR and what to look for once you get it.

When you receive your Student Aid Report, the first thing you should do is look for any errors that may have been made. If you do find an error, you do have the opportunity to correct it by web, phone, or mail, though web is usually the fastest. It is important to note, however, that you can only correct any information that was incorrect as of the day you filed your FAFSA, though if an issue arises after filing, you still may be able to change your information. To do this, contact your school’s financial aid office.

If you haven’t received your Student Aid Report yet, don’t worry. It usually takes about four weeks for your FAFSA to be processed and for you to receive your SAR. If it has been longer than four weeks since you filed, you can call 1-800-4FED-AID to check on the status of your application. Visit FafsaOnline.com for more information on federal student aid and your Student Aid Report.

You can also check out the financial aid calendar to see what steps to take next.

Ask Admissions Girl: What do I need to do in my senior year of high school to plan for college?

If you are a rising high school senior, one of the first things on your mind is probably college. From this point, you have about twelve months until you enroll as a college freshman. If you are feeling nervous, disorganized or unsure about what needs to be done, here are all of the things you need to do this year to get ready:

1: Narrow your college list to 5-10 school choices.

2: Make a list of the following:

• Test dates, fees, and deadlines
• College application due dates
• Required financial aid applications and their deadlines
• Recommendations, transcripts, and other necessary materials
• Your high school’s deadlines for application requests, such as your transcript

3: Send in your college applications. Most applications are due between January 1st and February 15th.

4: Have your high school send your transcript to colleges.

5: Contact colleges to make sure they’ve received all application materials.

6: Submit your FAFSA as soon after January 1st as possible.

7: Explore other financial aid options including private student loans and free college scholarships.

8: You should get acceptance letters and financial aid offers by mid-April and you must tell every college of you acceptance of rejection of offers of admission by May 1st.

This may seem like a lot right now, but if you stay organized and on top of deadlines you will have no problems! Good luck with the process!

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Ask Admissions Girl: Which private student loan is right for me?

If you are headed off to college in the fall, you may have recently come to the realization that you need a private student loan to supplement your federal financial aid package. So where do you go from here? When shopping for a private student loan it is important to look at all of your options and take some time to decide which loan best fits your needs.

The Private Student Loan Comparison Tool on PrivateStudentLoans.com can help you do your research and see all of your private student loan options in one place. The comparison tool provides at-a-glance benefits for borrowers from multiple lenders and detailed information about each loan including interest rates, fees and deferment options. The best part is that you do not have to provide any personal information in order to do your research.

A private student loan is not a purchase to be taken lightly. By doing your research there will be no surprises when it comes to repayment expectations. If you are in the market for a private student loan for college, do not apply for a loan product until you know all of your options. Use the comparison tool to make a smarter borrowing decision.

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Ask Admissions Girl: I have been accepted to college. What should I do now to prepare for the fall?

Now that you have been accepted to college there is nothing left to do but wait for August to roll around, right? Wrong! Going to college is a major life transition that takes a lot of preparation.There are three things you should be doing for the next few months to get ready.

Prepare for the costs associated with college: Beyond tuition, there are a lot of costs associated with college. Even if you got a great federal financial aid package you will probably need extra money for college. Now is the time to start planning and for the cost of books, supplies and social activities. Working one or two jobs during the summer and saving most of the money you make is a great way to ensure you will not be strapped for cash come September.

Prepare to move away from home: College will probably be the first time you really move away from home. This change will probably be difficult for both you and your parents. Your parents will have to adjust to you not being around all of the time and you will have to adjust to living with a roommate, eating college food and sharing a bathroom with a lot of other people. Spend the next few months making sure you have everything you will need for college life.

Prepare mentally for academic challenges: Your college classes will be a lot more challenging than your high school classes. Do something academic this summer to get ready for the fall. Maybe you will choose to take a class so that you stay in the school mode or maybe you will choose to read a few books. Whatever you choose to to to exercise your mind, make sure it is something you enjoy.

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Ask Admissions Girl: What is a private student loan?

While deciding which college to attend in the fall you are most likely taking financial aid into consideration. However, if your top school did not provide you with sufficient federal financial aid it is important to know that there are other ways to help pay for your college education. One way is to take out a private student loan.

Private student loans help students make up the difference between their financial aid awards and the total cost of their education. Unlike federal student loans they are based on credit rather than on need. Therefore, most college students will need a parent or other close adult to cosign the loan.

PrivateStudentLoans.com is a great resource for information about this type of loan. This site will let you see what your private student loan options are, compare lenders and even help you apply for a loan.

If financial aid circumstances are forcing you to choose a school you are less than thrilled with, consider all of your options before you make your decision final. You should be happy with the school you attend, but also feel like you can comfortably pay for it.

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Ask Admissions Girl: What is the Expected Family Contribution (EFC)?

When you receive your first college financial aid package, you might not know what all of the components are. Students and parents are usually confused my a number called the EFC. EFC stands for Expected Family Contribution. It is the amount of money that you and your family are expected to contribute to your education based on the information you provided on the FAFSA.

The EFC not only determines how much money you family can put towards your education, but also how much financial assistance you need for college. Your EFC is subtracted from the total cost of attendance to determine the rest of your financial aid package including Federal Pell Grants, Stafford loans, Federal Perkins loans, Federal Work-Study and other school loans and scholarships.

It is important to remember that not every school is able to cover 100% of need for every student. This means that your total award amounts will not always equal total cost of attendance minus EFC. Federal student loan funds and grants are limited which is why you will not always receive the total amount that you are eligible for.

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After you have been accepted to college and received your financial aid package, paying for college becomes more of a reality than a distant necessity. It is time to start seriously thinking about how you will make up the difference between your federal financial aid awards and the total cost of your education. Here are a few places where you might find funds for college:

• Your parents: If you are lucky your parents have saved some money for your college education. This is not the case for everyone, but if it is the case for you count your blessings.
• Your own savings: If you haven’t already started saving, start now. Your own personal savings will go a long way in paying for books and social expenses while you are in college. You may even want to take on an extra job this summer so that you can have extra money saved for expenses that pop up along the way.
• Scholarships: StudentScholarshipSearch.com is a great resource to help you find scholarships that you might qualify for. There are hundreds of thousands of scholarships from all around the country in the database.
• Private Student Loans: Private Student Loans are a great option for students who may not have a lot of financial need on paper. These loans are based on credit. The only catch is that most students will need a parent or family member to cosign the loan for them.