What You Need to Know About Your College Financial Aid Offer This Year

"College admission season is approaching fast. And because of a new date for federal financial aid applications, many students will be getting financial aid offers earlier from colleges that accept them," according to Consumer Reports.

"A survey from the education research company EAB found that 26 percent of colleges are releasing notices about financial aid packages four to eight weeks earlier than last year; 31 percent are sending the information two to three weeks earlier.

That change gives students more time to weigh cost when deciding which school to attend and how they’ll finance the expense.

'How much you’re going to pay for school is one of the most important aspects of deciding where to go to college,' says Justin Draeger, president of the National Association of Student Financial Aid Administrators. ...

There are different types of federal loans, subsidized and unsubsidized. Some schools include Parent PLUS loans, which parents can take out on behalf of dependents. To decode information, check out NASFAA’s glossary of terms. ...

The total cost. The financial aid offer letter lists only what you will get for the coming academic year. Think about how much college will cost to get a two-year or four-year degree and how much aid you'll get over that time, Draeger says."

NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 1/6/2017


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