Career and Kids

Thinking About College Financial Aid

by elizabeth on March 5th, 2007

When it comes to paying for college, the fact is, Junior may or may not get scholarships, and, if he does, it will likely only cover a small amount of his expenses.

According to this article from Free Money Finance:

…there’s a big gap between those who think their kid will get scholarships, and, financial aid and those kids who actually get aid. Here are the numbers from the January issue of Money magazine:

• 72% of parents believe their kids could receive merit grants
• 28% of kids get state or school merit grants

Though many organizations say that there’s money out there, it’s plain that not everyone will qualify for it, so, you need to have multiple plans in place for seeking college financial assistance, whether is is in form of grants or loans, or, other options.

However, that doesn’t mean that you shouldn’t explore all your options to pay for college, as there are also many myths about it. The financial aid process has been around for a long time, and there are free resources out there to help such as Student Aid on the Web, FastWeb, and, FASFA (Free Application for Federal Student Aid).

I realize these sites are for the United States college process, if you have experience in how to fund higher education outside the U.S., please speak up!

Though my children are young, I am trying to educate myself on the process, so that when the time comes, I am prepared. However, I may sign my daughter up for bowling, or, get the boys into candy technology, just in case.

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POSTED IN: College