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Step One:
Do the math -- find out the price of your most and least
expensive school choices. Then figure out what your family can afford to
contribute. Every college now has a cost calculator on its web site to see how
you fit the financial profile for that school.
Step Two:
Seek help! On school tours, ask the hard questions about
available aid. Visit their financial aid office and get as much information
about their grants, scholarships and loans as possible. Start this process as
early as you can.
Step Three:
Go scholarship hunting in your local area. Many local organizations provide scholarships
based on certain criteria either directly or through a local Community
Foundation. In Frederick County MD, for
example, more than $515,000 was awarded to more than 280
scholars for the 2012-2013 academic year, which represents scholarships from
189 funds.http://www.cffredco.org/receive/scholarships
These applications should be made in the fall or winter,
with awards frequently announced in the late spring. Each high school guidance
office has a list of local scholarships for its students.
Step Four:
Time your financial aid applications to meet the early deadlines;
if you are confused as to how to market yourself or your student, get help from
a college consultant.
Step Five:
Complete your FAFSA forms! Even if you think you may not
qualify for money, it can’t hurt to try. In addition, everyone needs a FAFSA on
file in case of financial emergency in the future.
Step Six:
After you get your financial aid packages back, it’s time to
review! Sit down as a family and compare all options. Look carefully at each award. Even though one
school may give you more money, another school may cost less overall. Remember
to calculate how much money is being offered in merit aid (free money) as
opposed to money that is in the form of loans or work study.
Step Seven:
Make a decision and meet all the deadlines! If you need more
time to decide, call the financial aid office and ask for an extension on your
deadline. Some colleges are historically more generous than others. A college
consultant knows who those colleges are.
For more information on financial aid options and affordable
but lesser-known colleges in your area, contact Charlotte Klaar, PhD, 301-834-6888, Charlotte@cklaar.com, www.cklaar.com.
