General Disclaimer: All the articles here are presented with no warranty. The information displayed on investingbytes.com may be different from what you see when you visit a financial institution, service provider, or a specific product’s site. We are not responsible for any errors or other inaccuracies in the content on our website. The information provided on our website is solely for informational and educational purposes, We recommend that you obtain considered and independent advice from a financial professional before you make any financial decisions or implement any financial strategy.
Advertiser Disclosure: Card Listings and other financial products that appear on this site are from financial companies for which investingbytes.com may receive compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. Investingbytes.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Tips to receive financial aid
Nowadays, among all the expenses that have drastically increased, one need not mention how college tuition fees are soaring higher than ever. Increasing at a rate of 6 percent per year, it is decreasing opportunities and affordability for students at a much higher rate. In times like these, one should make sure to avail as many opportunities as possible to continue their education and one such opportunity available to most would be financial aid. However, being careless about the application would take it away just as easily. Hence, it is necessary to make a note of all the things that could be in your favor to get financial aid and work on them.
The most basic detail which should be paid attention in case of financial aid is the expected family contribution which talks of the amount the student/parent can pay for the college fee. This needs to be calculated and if it turns out to be lower than the cost of attendance, applying for a financial aid would be suggested. Apply for the financial aid if your EFC is higher than the cost of attendance but you still feel the need. The college will decide the rest. Various EFC calculators are available online.
There is no such thing as an income cutoff to qualify for a financial aid. Your expected family contribution is calculated on the basis of your family size, total income, assets, and the number of children attending college. There are good chances your financial aid might be declined even if your EFC is low if the fee and number of children are less and there are equally good chances you might qualify for a financial aid when your EFC is high but there are two kids going to college.
Know that your information is safe. Also, if you do qualify to receive an aid, do not expect it to cover all the costs. Being prepared for the shortcomings will save you from future debts. Compared to the total funds, scholarships are scarce and hence being realistic when counting on them is necessary.
Education is one of the most important safety nets that one can have in life and it is absolutely ne...Read more
A payday loan is a type of fast cash loan wherein a sum of money which is borrowed for a short perio...Read more
Retirement is one of the aspects and one of the time periods in our lives that we save up our entire...Read more
There are different types of taxes, namely, property tax, sales tax, payroll tax, and other. However...Read more
Subscribe to our newsletter to receive latest updates in the world of finance!