Sharing tips on finding good financial aid from colleges.

[creekland]

Let's share tips for trying to find good financial aid from 4 year colleges and universities. This seems to come up often, so I thought it might be wise to give it its own thread.

 

It's early Sunday morning, so I'm positive I won't remember even all the tips I know about, so feel free to add. ;) In general, you want to have a student the college wants since you're essentially asking for sponsorship. There are a few ways to do this.

 

1) Have your student take the SAT or ACT (as well as the PSAT junior year). Compare their SAT/ACT scores with those of incoming freshmen at the schools they might like. These can usually be found on collegeboard.com by plugging in the college name and clicking on the "SAT, AP, CLEP" button (they list ACT too). You want to be in the top 25% of scores (higher than the highest scores listed). It's well worth it to put time and effort into getting as high of a score as your student is capable of. High scores are desired by colleges in part due to US News rankings. (I'm not saying this is right, but it is what happens.) If your student makes National Merit Finalist from the PSAT there are several options, but I'm going to assume we're talking about students who aren't that high in scores as most aren't.

 

One "BEWARE" with this. Don't pick a school so far beneath your student in scores that they will be bored or get an inferior education unless they only need "a" degree to do what they want - not a specific degree. Having seen the employer side of things, certain colleges are not as likely to get a new grad into the first interview as other colleges (and I don't mean you need Ivy).

 

Note: Some colleges do NOT give merit aid, so don't expect this to work at those schools if you don't qualify for need-based aid. If you do need need-based aid, it definitely works at many places.

 

2) Consider going AWAY from home for better aid. Almost all colleges like diversity. Most people think of diversity in terms of race or gender, but geographical diversity is just as likely to make a college want you. At one school they told us they had students from every state except ND. If you applied there from ND, you can expect they want you and will try to get you to come there - often with a nice aid package. If you're one of several who doesn't want to go somewhere more than two hours from home you're not as likely to be 'needed."

 

Note: Obviously be certain your student is ok going to school away from home and have travel costs worked into your thoughts mentally.

 

3) Have nice extra curriculars. This is similar to that diversity thingy. Colleges want students with all sorts of experiences - not just the same experience from all students. Is yours extensively into 18th century Russian History? I'd list it. Be sure what's on the app can be talked about in as much depth as you've put there. In our case, we've traveled to 49 of the 50 states and we're scuba certified. My oldest was asked about these in interviews. Don't put things down that aren't there, but encourage things your student is interested in. Something in depth is preferred to several shallow things. Leadership positions are worth a lot.

 

4) Investigate colleges you are interested in to see if they tend to offer decent aid. One list I like is this one: (Colleges that go the extra mile to make it financially possible to attend.)

 

http://www.insidecollege.com/reno/The-Experts-Choice-Colleges-that-Go-the-Extra-Mile-to-Make-It-Financially-Possible-to-Attend/352/list.do

 

5) A few colleges are no-loan colleges. They are often hard to get into, and they sometimes have their own definition of what "need" is, so caution is warranted. Here's a thread from college confidential discussing pros and cons with some lists:

 

http://talk.collegeconfidential.com/financial-aid-scholarships/940291-schools-promise-no-loan-financial-aid.html

 

NOTE: Even on this thread people talk about sometimes getting better packages from "other" schools, so don't just "go" with point 5.

 

 

I'm sure there are more tips... but I've got to go now. Breakfast is almost being served.

 

Feel free to add or comment.

[Nan in Mass]

Remember that when you apply to colleges, you may be applying FALL OF SENIOR year and so all colleges are going to be able to look at is FRESHMAN, SOPHOMORE, and JUNIOR years. If you want to impress them with AP scores and CC classes, not just plans to score well and to get good grades, you can't leave these things until senior year. Senior year is a very important time when it comes to general education, and final preparations for transitioning to learning on one's own as an adult, and getting ready for learning in a college situation, but it isn't much use when it comes to the application itself unless it is backed up by outside validation of achievements previous to senior year that would lead colleges to conclude that things being attempted senior year will be equally successful.

 

Community college classes, in order to impress colleges, need to be in academic subjects, not non-academic ones.

 

If you are dealing with public colleges in Massachusetts or in Maine (and probably others, at least in New England) you may need proof that you are homeschooling legally. In other words, you may need a piece of paper from your school system saying that you have graduated from within the school system and didn't drop out.

 

Colleges that say they don't need you to submit SAT or ACT scores probably are still going to want those scores from homeschoolers.

 

I don't know whether or not any of the above applies to community colleges.

 

I haven't done it, but I gather from hive talk that scholarships often involve essays. It might be a good idea to emphasize personal essay writing skills.

 

Don't forget that the guidance office at your local high school may be willing to help with the college search and finding scholarships. It is worth asking, anyway.

 

-Nan

Edited March 27, 2011 by Nan in Mass

[Gwen in VA]

1) Some colleges offer many small merit aid awards. Some colleges offer few large merit aid awards. Check to find out the number/percentage of awards and the amounts.

 

If the largest amount given is only 1/2 tuition and you need more to attend that school, then save your sanity and don't apply!

 

2) Some colleges are known for generous merit aid. Check on college confidential for pretty comprehensive lists.

 

3) Check application dates. Sometimes merit aid is awarded based on the regular application, but a number of schools have a separate merit aid application, often with an earlier deadline that the standard application deadline.

 

4) If you are serious about merit aid, do NOT apply early decision. If you apply early decision, you have already committed to going to the college; the college has no incentive to offer extensive merit aid to entice you to come to the school.

 

5) "Love" the college. Colleges want to award merit aid to students whom they think may actually come, so radiate enthusiasm and interest.

[newbie]

fastweb.com

[MomsintheGarden]

Great tips so far! I have one more:

 

If you are interested in local scholarships, visit the guidance office in your local high school(s) a couple of times in the junior/senior year. They should have plenty of information.

 

Two caveats:

1. You will find that some guidance offices are more homeschool friendly than others. Ditch the ones that are not, and work with those who are.

2. Most of these scholarships are pretty small. I think the organizations are still stuck in the age where $1K could go a long way towards a college education. Still, every little bit helps!

[Kimm in WA]

Biggest thing we wish we'd have known before DS applied to schools...and we did a LOT of research and combed through a college guide... is that the

% that they list for % of need met INCLUDES huge parent loans. So, if you aren't going to be able to help your child with college expenses (or very much), this % really is useless.

 

DS got into some really good schools and we thought they were within reach because of the % of need met. I don't think of me taking out a $27,000 loan when I hear the words "financial aid pakage".

 

Kimm in WA

[choirfarm]

I would also say not to forget outside scholarships. For example, we are part of an electric co-op. ( Not really a choice here. That's what we have in this rural area.) I noticed that at the annual meeting they are having a drawing for a 1,000 scholarship for a high school senior. They do this every year. Their parents have to belong to the co-op ( just means this is who our electric company is, not that we pay dues or something) , be a senior, and be at the meeting to put their name in.

 

My church offers scholarships every year. What is nice about that is that Baylor would match it, and I think LeTourneau would too. Look at your work, look at your child's work ( like Chick File sp???_) I paid for my first year at Baylor with some national merit money, one large scholarship from my town that ended up renewing for all 4 years, and then tons of little bitty ones my first year. Once you get into the university, your major has more scholarships available for upper class. I got one of those my senior year.

 

Also, if your child really wants to go to college, then they should look at finding scholarships as a full time job. I know I did. My parents only allowed me to work in the summers. They did not want a job to detract from my schooling. My dad told me that school was my job and I was to learn as much as possible as well as possible. My mom found me lots of scholarship information and I wrote essays, filled out forms, etc.

 

Christine

[Maura in NY]

that make your FAFSA EFC just ridiculous for you that year, contact the college. If the school of interest is "need blind admissions," contact the financial aid office even before you know if your student has been accepted.

 

In our case, our "base year" for financial aid was a perfect storm of unusually high income and unusually high expenses, unlikely to be duplicated -- so we had a unreachable EFC, and no money left in the bank. The school was extremely generous with aid, and the financial aid offer stated that it was because of our "special circumstance" letter.