Today's students need all the help they can get when looking for ways to pay for their college education. Skyrocketing tuition costs, state budget cut, and diminished personal savings have combined to make financing a college education perhaps the number one concern for parents. College sticker shock is driving many families away from college. No wonder. the "purchasing power" of all aid programs from federal, state, and institutional sources has declined over the past two decades. State education budgets have been slashed. In 2006-2007, tuition and fees increased 5.9% at four-year public institutions and 6.3% at four-year private colleges. And it's only lower-income families who are affected. Some fear they make too much money to qualify for financial aid. Regardless of their situation, most families struggle to make sense of the college financial aid process and to decide which aid package is the right one for them.
Despite the confusion, students and parents can and should continue to research as many sources as they can to find the money they need. the Internet can be a great source of information. There many worthwhile sites that are ready to help you search and apply for your fair share of awards, including Peterson's comprehensive financial aid site at www.petersons.com/finaid.
Peterson's "Pay for School" financial aid Web site at www.petersons.com/finaid provides families with a wealth of information on college funding for every step of their college admission process. By logging on to this Web site, you gain access to comprhensive articles that describe the ins and outs of federal and state funding; tips for filing the FAFSA and the CSS/PROFILE; step-by-step advice on what you should be doing junior and senior year of high school; and an audio clip of an interview with a real live financial aid expert. Links to state programs and agencies help you connect directly to those resources. The Advice Center lets you access articles on specific topics, such as advice on 529 Plans, loans and payment plans, scholarship scams, the military, and international students. There is also a section call "Financial Aid This Month," which contains the latest-breaking news on government programs and other college funding topics.
Peterson's free Scholarship Search connects you to more than 1.6 million scholarships, grants and prizes totaling nearly $7 billion and lets you do an individualized search for awards that match your financial and educational needs. In just three easy steps you can register; complete a customized profile indicating your scholastic and personal background, intended major, work experience, and a host of other criteria; and access a list of scholarships that match your needs. Each scholarship is described in detail, including eligibility and application requirements and contact information with links to its e-mail address and Web site.
When it's time to get to the nuts and bolts of your college financial planning, Peterson's has the tools to help. You can access a calculator to find your Estimated Fimily Contribution as well as a College Financial Planning Calculator that lets you figure out your own personal savings plan. After you have received award letters the colleges you've applied to, you can use the Award Analyzer, which helps ou compare award letters to determine which school is prepared to give you the most aid. You simply enter the information from each award letter you received, press the Calculate button, and you discover which school has offered you the best package.
Searching and applying for financial aid is a complicated process. The resources and tools available to you on Peterson's Web site can help you get your fair share of the financial aid pie. |
