In today’s financial situation, navigating the financial aid programme maze: FAFSA
The method of receiving enough money from financial assistance, grants, and family donations to attend the school of your choosing is the most significant part of college attendance. You can only attend an institution that you can afford, regardless of whether you have been admitted. As anything else on this planet, it will all come down to money. It is important that you have at least one college on your list of colleges to which you can apply or have applied that you can afford with little to no financial assistance. see here
Many students and parents face the dilemma of applying to all of the schools that the student is interested in and only figuring out the financial details later (we will find a way to pay for it). This is one of the most popular blunders made by students and parents around the country each year. High school counsellors and college advisors have warned students and parents against taking such a risky path to the college admissions process, and they will continue to do so. Many students have scrambled and will continue to scramble to find a school to attend in May due to a lack of funds to attend their preferred college.
It is important that each student have at least one (1) academic and financial safety school that they can attend if they do not receive a good financial aid package from at least one of the schools on their list, in order to reduce the burden of college attendance. Every year, every student and parent can fill out the Free Application for Federal Student Aid (FAFSA), which is required by every institution of higher education. FAFSA is based on profits rather than assets. Applying for Federal Student Assistance is absolutely free. This process should begin in the fall of the senior year for both parents and students. Students and parents should also start applying for scholarships at this time. The financial aid programme will typically consist of grants, scholarships, loans, and work-study, and you will not receive financial aid from any schools until you file the FAFSA.
Getting into the limited number of selective schools that will need extra applications: CSS Profile (CSS)
You and your parents will be required to fill out the CSS Profile financial aid application by a limited number of selective to very selective private colleges and universities. This application can be completed after October 1st of your senior year. The CSS Profile gives financial institutions access to all of your financial information and properties, as well as those of your family. This is an asset-based application, and it will cost you money to apply.
The CSS Profile is used by schools with significant endowments, enabling them to be more generous with their financial aid packages. Don’t be afraid to apply for financial aid because of the amount of information they need (including financial information that you can consider private). When it comes to financial aid packages for good, well-rounded academic students, small Ivy League schools are the most generous. Don’t be put off by high-priced colleges; in most situations, it will cost you a little more to attend one of these schools than your financial safety school.