Andrea Lieberman gives tips for students and parents for preparing for the financial aid process.
Financial Aid Tips:
Everyone should apply for financial aid. Don’t assume you won’t be eligible. File the FAFSA or CSS PROFILE. There is both need based and non-need based financial aid. Low to middle income families usually qualify for need based grants and loans. Higher income families may always borrow non-need based loans up to the cost of attendance even if they do not qualify for need based loans and grants.
Meet all deadlines. File your FAFSA as early as possible. Be sure to check with the financial aid office of the schools you’re applying to for their deadline for financial aid to qualify for the most aid possible. Financial aid is given out on a first come first served basis.
Comply with all requests made by the financial aid office. The financial aid office may request additional paperwork including tax returns and schedules, verification forms or other documents.
Make your college aware of special circumstances. If your parent has lost their job since completing the FAFSA or Profile, inform schools about your situation. Most have standard policies that allow the use of projected income, which could increase the amount of financial assistance.
Keep copies of everything for your records.
FAFSA Renewal – Reapply every year for financial aid.
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