Financial Aid 101: College Funding Basics

MONEYSENSE can help you find affordable ways to pay for college. Our goal is to reduce the financial pressure so that your son or daughter can select the most appropriate school. We counsel you on appropriate college selection and strategic financial planning so that you can receive the financial aid you deserve for your students.

Our specialty is increasing financial aid for aid-eligible college-bound students. We also suggest cash flow management techniques and low-cost loans to help parents who aren't eligible for need-based financial aid.

Help with financial aid forms is available. We'll guide you through the FAFSA and Profile forms, as well as through the colleges' own financial aid applications. We're also familiar with the Divorced/Separated Parent Form and the Business/Farm Supplement.

Private college funding consultations can be arranged on a variety of college funding topics. Please contact us for more information, references, and a complete schedule of services and fees.

When to Start. Before your student even applies to college, you should assess your financial aid eligibility. At that point, there's still time to increase aid eligibility. Do it as early as possible in your child's high school career.

Sources of Aid. Over 90% of financial aid typically comes from government and college sources. Each family's award is based upon its calculated Family Contribution (FC), the amount the Department of Education determines as that family's fair share to pay for college. Ultimate decisions about awards are made by the financial aid directors of the individual colleges. They use the FC calculation to award federal aid. They make awards from the colleges' own endowment according to a stricter interpretation of the FC calculation.

How We Can Help. We will calculate your FC free-of-charge, based on confidential financial information you provide us. Your calculation will be reviewed by two knowledgeable professionals. Our knowledge of the FC calculation methodology and our understanding of the financial aid process can often result in substantial savings.

We'll inform you of the calculation results. If there are opportunities for savings, we'll also highlight the amount of savings possible. If savings of at least $1,000 a year appear possible, we'll recommend a college funding consultation, over the phone or in our office, at your convenience.