How to maximize your aid

With four-year private colleges now charging from $30,000 to $40,000 and out-of-state colleges costing as much as $27,000 a year, it pays to have a plan to finance your college education. Even state-supported colleges are raising tuition. Not to mention that room, board and associated fees are adding up, too.

Colleges and universities grant financial aid based on a student’s financial need and other factors. Those “other factors” are what you can work on to maximize your potential for aid. Here are some tips.

Pick your college early.
Make sure you apply for aid before it runs out. Apply for admission early in your senior year. Many colleges have rolling admissions, meaning they accept students and award aid on a first come, first served basis. Apply late, and they may run out of class spots or financial aid. To maximize your aid opportunities, apply to four to six colleges and a mix of state and private schools.

Ensure that your academic rank is in the top 25 percent of the freshman class.
If you make the grades, your chances of receiving financial aid increase.

Have all financial aid paperwork done on time, correctly and consistently.
It is no secret that colleges consider SAT scores, academic grades and class rank. But for some colleges, that is just the beginning.

Make sure you document those extracurricular activities you do outside of class.
Colleges are looking for well-rounded students, but they won’t know you’re one of them unless you tell them. Documenting what you do in high school could pay off in college. If you have an athletic, musical or other talent, make sure you contact the college’s coach, music director or other person involved in the field at the college.

Let the director know you are interested in attending, and ask them to work with you on your application. Following these steps, you will help create a more desirable profile for colleges to award you financial aid.

John Salamone is president and CEO of J. Christopher Associates—A College Funding Company in Rochester, N.Y.

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