College is really a major investment. To help ensure there isn't any costly surprises, we've made a listing of questions about financial aid to ask the educational funding office before applying, accepting, and going to college.
Managing the educational funding process and understanding all the details you obtain about aid from a college can be difficult, so whenever possible, work together with your student to get the answers you need.
Questions to inquire about Before you apply to College
What are your educational funding deadlines?
Be aware of any deadlines to apply for educational funding every year. Your school might have specific deadlines to submit the FAFSA, and you don't wish to lose out on any available aid because documents weren't completed promptly.
Did you receive our paperwork?
Depending around the size the college and how their financial aid office works, they might 't be proactive in contacting your student to complete necessary documents. Instead, the college may expect your student to keep track of what must be submitted so when.
If you believe both you and your student have finished all the documents, contact the educational funding office and ensure that they have received everything they require.
How long does it decide to try hear back in the office after submitting all of the financial aid forms?
When you are looking at reviewing educational funding applications and sending award letters, every school has different deadlines and response times.
Questions to Ask Before Accepting an Offer to Attend College
What may be the total price of attendance for the school?
All award letters won't be the same, and some can be harder than the others to interpret. When the award letter is unclear or you aren't sure whether every cost are contained in the price quoted (tuition, fees, bills, books), reach out to the educational funding office and get these to explain the facts of the award. Before your student enrolls within their first semester, you should both understand how much it'll actually cost to attend that school.
Will you match or consider offers using their company schools?
Your student might have received a better offer from another school that's lower on their college list. Check with the financial aid office in their top choice college to find out how their appeal process works and if they'll consider higher aid offers using their company similarly priced schools.
Are merit scholarships renewable every year? If so, what are the requirements for renewal?
Not all scholarships awarded by schools are renewable, so be sure to ask. If they're, read the requirements to receive the scholarships annually (i.e. GPA, credits completed, etc.).
If the scholarships are renewable, ask if the total amount changes as tuition increases each year-typically, it won't.
Are there additional grants or scholarships that returning students can use for?
Regardless of set up school’s merit scholarships are renewable, check with the college to see if there are other scholarships your student can apply for over the course of their studies to cover tuition increases.
If students receives private grants or scholarships, does it modify the aid on offer by the school?
This is an extremely important question to inquire about the educational funding office. Before your student puts within the extra work to apply for outside scholarships, clarify whether or not they will modify the school's award.
If your student does decide to apply for scholarships, they can enter College Ave Student Loans' $1,000 monthly scholarship. It only takes several minutes-no essay required!
Questions to Ask Before Beginning Freshman Year of College
How much will we need in loans to pay for the rest of the costs?
If your student needs to remove student education loans to pay for additional costs, make certain they do know how to budget and steer clear of over-borrowing. When applying for additional loans each year, accumulate the total loan debt which will accrue during the course of your student's degree.
Over-borrowing can make repayment after graduation difficult. College Ave Student Loans specializes in helping students and families purchase higher education. They have a student loan calculator will see what your student's repayment schedule would seem like based on the amount they are borrowing each year.
If our financial circumstances change while our student is enrolled, will you reconsider the educational funding award?
You can consult with the educational funding office anytime regarding this process, climax best to be aware of policies ahead of time, just in case this situation would arise. When you are aware what to anticipate, it can benefit create a potentially stressful time less stressful.
Reconsideration for further financial aid that's with different alternation in financial circumstances (not reflected on the FAFSA or CSS Profile) is typically known as Change in Circumstance or Professional Judgment through the educational funding office.
When and how are bills sent each term, and when could they be due?
Don't wait for a first bill to arrive-be proactive and get in touch with the educational funding or bursar's office to find out when and how bills are sent, so when they'll be due. Knowing they're sent with a certain date, however, you haven't received one yet, get in touch with avoid any potential difficulties with registration or late fees.
Are there repayment plan options available? Exist extra fees for any repayment plan?
If you need to pay out-of-pocket for the balance of your student's bill not covered by aid, you will find usually options besides loans. Some schools offer payment plans that will spread the total amount due during the period of the quarter or semester. These plans will come with additional fees, so be sure you understand the terms before signing up.
Do you offer any reduced prices for paying entirely for that year?
Your school may offer a discount should you purchase the full year before starting within the fall. You should reach out to your educational funding or bursar's office as soon as possible to find out if they provide a full-year discount, and if there's a deadline to pay for by to be able to receive the discount. Much like payment plans, in case your school offers this option, make sure you understand all conditions and terms prior to signing up.
How are refunds processed if the account includes a credit balance?
A credit balance may form in your student's account if their financial aid is larger than the charges on their own bill. This is common if you're taking out student education loans to cover expenses that aren't included around the bill (i.e. books, transportation, off-campus housing).
You ought to know how the school processes these refunds and what the time frame is for receiving money. They may require that your student subscribe to direct deposit, so touch base before the fall and ensure everything is established to avoid a delay in finding the refund.
College is a huge step. Asking the best questions before each stage of the admissions process will help your student make smarter, more informed decisions, and avoid any unplanned charges on your student's bill.