Must Read Book on Paying for College: The Financial Aid Handbook

dog reading a book representing reading The Financial Aid Handbook

With the availability of more free information on the internet than we know what to do with, the suggestion of reading a book to understand a topic may seem, well, old-fashion.  But it’s precisely because of the information overload spawned by the internet that books can be a great investment. A good book will present … Read more

50-50 Highlights: Colleges Awarding the Most Institutional Financial Aid

College graduate with money representing institutional aid

Anyone who has been paying attention to college costs and financial aid has probably heard that there really isn’t one set sticker price for college. It’s a lot like airline tickets. People sitting next to each other on a flight probably paid very different amounts for their tickets depending on when they bought them. Like … Read more

Think your student is on track to be a National Merit Scholar?

It’s that time of year again when junior PSAT test takes start to wonder if they scored high enough to make their state’s cut-off score to qualify as a National Merit Semi-Finalist. If you have visions of National Merit Scholar qualifying scores dancing in your head, get the list of Colleges Sponsoring National Merit Scholarships … Read more

11 Colleges Frugal with Financial Aid

Sometime ago, I listed 15 schools to avoid if you’re making a list of affordable colleges. After all, just as there are colleges that are known for their generosity, there are expensive colleges that you should avoid if you’re looking for significant help in cutting the cost of college. Since I’ve just recently updated the … Read more

What is financial aid?

Financial aid is money students are awarded to pay college. There are two forms of financial aid: gift aid and self-help aid. Gift aid is money that the student doesn’t have to repay. It can take the form of scholarships or grants. Self-help aid is money the student will be responsible for repaying such as … Read more

What is need-based aid?

Financial aid is awarded based on two general categories, need-based and non-need (merit) based. When people hear the term “financial aid,” they are generally thinking of financial assistance provided because of the student’s financial need. A student’s financial need is based on her financial status and the cost of the school she actually attends. Financial … Read more

What is financial aid preferential packaging?

Preferential packaging is the practice of changing the type and amount of financial aid awarded to a student based on the desirability of the student relative to the applicant pool. This policy is common among private colleges but not by public institutions. Since most colleges have a finite amount of aid available, they have to … Read more

FAQ: What is self-help financial aid?

Student in front of college asking What is self-help financial aid?

Self-help financial aid is aid that the student earns through work or is required to pay back. Student loans and work-study are both self-help aid. Many colleges build their financial aid award starting with self-help aid. Problems can occur when the institution doesn’t meet the student’s full-financial need, often referred to as “gapping.”

FAQ: What is financial aid gapping?

Student in front of college asking What is financial aid gapping?

A financial aid gap occurs when a college’s financial aid award for a student doesn’t meet the student’s financial need as defined by the college. This unmet need is referred to as the gap. Gapping became a verb as some colleges have earned a reputation for failing to meet student need, especially students admitted with … Read more