Paying for your child’s higher education is one part of planning for college that may be stressful or confusing. Rising tuition costs, complex financial aid systems, and numerous scholarship options can make both students and parents overwhelmed. The good news is that you do not have to handle it on your own. Understanding what college actually costs ahead of time can give you the time and confidence to make informed financial decisions. I provide personalized guidance to help you understand how financial aid works, what your likely costs will be, and how to maximize scholarships.
Many families I work with are surprised by how complicated and unpredictable financial aid can be. It is easy to miss out on important opportunities just because you did not know they existed. Some challenges that parents and students face include:
- Not knowing when to apply for aid
- Misunderstanding the difference between need-based and merit-based aid
- Being surprised by the true cost of a college education
- Not realizing that missing deadlines can impact your eligibility for merit scholarships and federal aid
- Feeling overwhelmed by forms like the FAFSA & CSS Profile
- Struggling to compare financial aid packages from different schools
- Federal changes in determining eligibility for aid
It is important to start the financial conversation early because applications for financial aid are not open until the middle of the school year. Students are usually already applying by that time.
How I help families make a financial plan so they are ready to support their college student
You will get a personalized plan that takes into account your student’s goals and your family’s financial position when you work with me. I advise families about how to take control of college costs and make informed decisions. I review every school on your child’s college list and provide an analysis on what each school is likely to offer in terms of financial aid. This includes estimating your Student Aid Index (SAI), the likely amount of need-based aid, merit scholarships, and other institutional-specific awards. Being able to see each school’s estimated cost of attendance, predicted financial aid, out-of-pocket expenses, and notes on any unique financial aid policies is helpful. It allows you to assess whether a school is financially feasible before your child puts the work into applying. It can even help to shape your child’s college list to include more affordable options or those that may offer a strong aid package.
I also help families identify which merit scholarships each college offers, understand eligibility, track deadlines, and plan ahead for separate scholarship applications if necessary. Some scholarships are predictable due to being based on objective measures like GPA or test scores, while others are more competitive and subjective. Scholarship deadlines do not always line up with admissions decisions deadlines. For example, Ohio State University requires students to apply by the Early Action deadline to be considered for merit scholarships. Missing a deadline like that could mean leaving tens of thousands of dollars on the table. I help families build a clear timeline of when to complete various tasks like:
- When to submit the FAFSA and/or CSS Profile
- When to apply for Early Action admissions
- When and how to apply for institutional scholarships
- What documents need to be prepared ahead of time
The earlier we start, the better. My experience as a former financial aid officer has given me real-world insight into how to approach the issue of preparing to pay for college. I am able to explain financial aid language so you actually understand it. You can stay organized with my help, so nothing slips through the cracks. Families from all financial backgrounds should be proactive in planning in order to avoid unnecessary debt and find the best school options for their child.
I also help families identify which merit scholarships each college offers, understand eligibility, track deadlines, and plan ahead for separate scholarship applications if necessary. Some scholarships are predictable due to being based on objective measures like GPA or test scores, while others are more competitive and subjective. Scholarship deadlines do not always line up with admissions decisions deadlines. For example, Ohio State University requires students to apply by the Early Action deadline to be considered for merit scholarships. Missing a deadline like that could mean leaving tens of thousands of dollars on the table. I help families build a clear timeline of when to complete various tasks like:
- When to submit the FAFSA and/or CSS Profile
- When to apply for Early Action admissions
- When and how to apply for institutional scholarships
- What documents need to be prepared ahead of time
The earlier we start, the better. My experience as a former financial aid officer has given me real-world insight into how to approach the issue of preparing to pay for college. I am able to explain financial aid language so you actually understand it. You can stay organized with my help, so nothing slips through the cracks. Families from all financial backgrounds should be proactive in planning in order to avoid unnecessary debt and find the best school options for their child.
Frequently Asked Questions
How do college scholarships work?
College scholarships are awards that help lower the cost of tuition, fees, or other expenses. They do not need to be repaid like student loans do. There are two primary types of scholarships: merit-based and need-based. Merit-based scholarships are awarded for academic achievements, test scores, leadership, community service, or talents. Need-based grants are awarded based on a family’s financial situation and are typically determined through forms like the FAFSA or CSS Profile.
Some scholarships are automatically awarded by colleges based on your child’s application. Others require a separate application or essay. Scholarships offered by private organizations also require individual applications and are usually quite competitive. Students can begin exploring scholarship opportunities as early as middle school, but ideally no later than their junior year in high school. Staying organized and applying as early as possible give you the best chances for winning the most scholarships. It’s important to know that some major scholarship deadlines will pass even before college application deadlines.
How does financial aid work?
Financial aid comes in several forms and helps students pay for college. Grants are need-based funds provided to students that do not need to be repaid. Scholarships can be either need or merit-based and similarly do not need to be repaid. Students could earn money for college expenses by working part-time through a federal work-study program. Student loans are a form of financial aid that helps a family afford large tuition bills but needs to be paid back after graduation.
Families must complete the FAFSA to apply for many forms of financial aid. FAFSA stands for Free Application for Federal Student Aid. Some private colleges also require the CSS Profile. Colleges then use the data from these forms to calculate the Student Aid Index (SAI) to determine how much they can offer. Each school’s financial aid offer may be different. This is why it is important to evaluate the actual cost after financial aid rather than the sticker price.
Should I fill out the FAFSA if I am high income?
Yes. It is still smart to fill out the FAFSA even if you believe your income is too high to qualify for federal aid. Filling it out is free and keeps options open. More reasons why I recommend nearly all families complete the FAFSA include:
- Some colleges require a FAFSA on file even to be eligible for merit-based funding
- Eligibility could be affected later on due to unexpected changes in circumstances
- Federal student loans may have lower interest rates and better terms than private loans
- Some state and college-specific aid also requires FAFSA to be completed
For certain schools, the first year FAFSA sets the budget of aid available for the remaining three years
Can I appeal a college’s financial aid offer?
Yes, you can! A financial aid appeal is a formal request asking a college to reconsider its original financial aid package. It may be appropriate for families to submit an appeal when:
- There has been a change in financial circumstances since the initial application was submitted
- Another comparable college offered significantly more aid
- The initial aid package would leave too large of a gap for the student to cover out-of-pocket
An appeal usually involves writing a letter and providing supporting documentation. I can help you draft an appeal letter that is compelling and respectful and guide you on providing the right supporting documentation to avoid delays on your appeal process.
Is financial planning offered as a part of a package?
Yes. Each package can be tailored to your family’s needs and can help a family plan for paying for college and understand what options are available to you and your child. I can also offer college financial aid planning as a standalone service.
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