More on financial aid

How to pay for the high cost of college is an ongoing discussion that most families have. Even those families that can afford to pay the full cost of a private college often want to consider the options. There is another article on this topic in the College Journal. Entitled “How colleges are making tuition more affordable“, the article discussions various financial aid approaches that different colleges are trying to help families afford the cost of higher education. The article highlights various options particularly among private colleges. However, like many articles of this sort, it only discusses specific programs at specific colleges. What is lacking is an overall discussion of how financial aid works to better understand not only the programs mentioned but financial aid overall.
I would recommend that anyone interested in the basics of college financial aid look at an article on the Collegebasics website entitled “9 Financial Aid Questions to Ask Before Choosing a College.” To be fair I am prejudiced because I am the author of the article. But I believe it is important to have a basic understanding of how financial aid works before you can evaluate individual programs offered by the different colleges.

Financial aid is often an area where the rules are not spelled out or change depending on the particular college involved. Don’t put yourself at a disadvantage to begin with by not even understanding the basics. The more you know and understand about financial aid, the greater the likelihood that you can make a more informed decision on the best economic option for you and your family.