Four Ways To Get More Financial Aid For College
Earning a college degree affords you a wealth of professional opportunities. However, it is equally important to address the fact that earning a degree is not exactly a low-cost initiative. For this reason, many students rely on financial aid to achieve their educational goals. While every person has the ability to gain access to this financial assistance, not everyone will have the same level of success. Discover some of the things you can do to gain as much financial aid as possible.
Request Aid As Soon as Possible
Visit the FAFSA site to find out when the financial aid application opens for the upcoming school year. Even if you are not sure what school you plan to attend, you can still complete the application and send a copy of your application to all the schools you are considering. Many schools have separate financial aid offerings aside from federal aid, but they are often offered on a first-come, first-serve basis.
Ensure Dependency Status is Correct
One factor that the finial aid process considers when assessing aid is the dependency status of the student. Typically, students can classify themselves as independent, meaning they essentially take care of themselves, or as dependent, meaning they receive most of their financial needs from someone else, such as their parents. For some students, particularly those who work, classifying themselves as independent students might help garner more aid.
Attack Debts
One less known factor that is used to formulate how much aid a student is awarded is their total debts. While debts are not income, with the FAFSA calculation, they can be classified as an asset, especially if it is something like a credit card. When possible, try to tackle as many of these types of debts as possible so that you can lower your asset reporting in an effort to increase your award.
Speak with the Finance Department
As previously stated, schools often have in-house aid they offer, but their access to funds does not stop there. Some finance departments have partnerships with different community organizations and donor associations that they can direct in-need students to for financial assistance. When speaking with the finance department, be upfront and honest. The more the department understands your need, the more they can work to help you.
Ensure you keep all these factors in mind to ensure you can secure the financial aid you need to achieve your educational goals. Reach out to a college financial aid help service near you to learn more.