The college application and financial aid process can feel like a maze of paperwork and jargon. These four tips will help you keep it all in perspective.

  1. Don’t wait until your kids are admitted to a college before they apply for financial aid. You should have begun the financial aid process by Nov. 1 of your child’s senior year. 
  2. Financial aid almost always comes in the form of a package. It is rare that kids get a scholarship that covers everything. So it’s divided into two parts. One: a scholarship for grant. Then part two is for the student: A loan and/or a part-time job. Colleges just don’t hand out those $10,000 scholarships anymore, so don’t fret if there’s the loan or job. It doesn’t mean your child is not smart; colleges just want the student to carry some of the burden. 
  3. Financial aid awards are not final. You can apeal them. You apply in November, awards are made in April. A lot of things could have happened by then. 
  4. Never take a college off your list because you think it’s too expensive. Apply, get in and then let the financial aid office fight for you.

Lloyd Peterson is Vice-President of Academic Strategy at College Coach.