Financial Aid Advisory Service

Paying for College
1

I am looking for ways to figure out how financial aid works so we can figure out what schools to apply for my daughter. I have been reading all kinds of articles but I am not sure exactly how it works. Has anyone used a service to help with Financial Aid? We found a group called College Leverage, has anyone used them? I am new to this and trying to figure it out.

2

Try looking here before paying for anything

http://talk.qa.collegeconfidential.com/financial-aid-scholarships/1678699-links-to-popular-financial-aid-info-threads.html#latest

Essentially there is financial aid for families that are low income and merit aid for students who are high performers. Colleges that “meet need” (provide very good financial aid) are also highly competitive so the student needs to be a high performer there as well (high grades, high test scores). If you provide your D’s grade and test info some people can provide recommended schools. Also, what is your home state?

3

Thanks for your response. We are not low income, but we are not rich by any means. My daughter is an average student, she has a 3.2 HS GPA and I think her SAT scores were 1010. I think that she is going to retake them so hopefully that will go up.

4

Home state? I know she would fit will with the directional schools in my state, OH.

5

We live in Massachusetts

6

Then perhaps some of the UMass campuses besides Amherst? Google Net Price Calculator and you should get some idea of costs. If the Calculator asks for SAT and GPA then it probably includes merit aid as well.

7

What are you trying to find out?

How much CAN you pay per year?

Is your income over $100k?

I don’t see how a service can help you. FA is what it is. A school isnt going to give you more because you used a service. FA is based mostly on income. Assets, too, but not as much of an impact.

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She has decent/average stats that as mentioned, many directionals would fit. Are you wanting PRIVATES? They might give you some help (grant, loans, work study), but they’re going to expect you to pay most of the costs. How much are you prepared to spend?

For example…

$60k per year moderately-selective Private Univ may give you…
$20k per year in grants/scholarships
$5,500 in student loans
$2,000 in work study

So about $27,500 in aid. Sounds like a lot of aid, right? But you’d still have to come up with about $32k per year. Is that ok?