Springtime is the time when the seeds that were planted into the tilled ground begin to produce a harvest and flowers begin to bloom. It is also the time when, after some consideration, the decision was made that after your teen earned his high school diploma or GED, he goes to college. So think about college admissions and financial aid award letters.
Families who are not familiar with the terms used in financial aid documents may begin to feel overwhelmed and confused about what their child is receiving. Well, this article is for you. I knoe it isn’t spring yet but you better get organized in a timely manner. Spring will e here before you know!
First, we will start with some basic information. Financial Aid basically is aid that comes in the form of loans and/or grants to cover the cost of college. Parents will complete an application providing information regarding their assets and availability of money.
The government and the school students apply to will assess the financial aid packages per the predetermined guidelines to determine the need value and expected financial contribution (EFC), the number used to determine your federal student aid eligibility.
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