How to get the most financial aid

The college or university you choose to attend is one of the most important and expensive financial and future-determining decisions you will ever make. With college marketing materials all sounding alike and identical descriptions of college life, it is hard to determine where to invest your money. If your goal is to get the most financial aid you can, that may mean you can’t attend your first-choice college. But it does mean you will get the education you want at a price you can afford. Here is what you can do to make the process easier.

Compare all the financial-aid packages you’re offered before making a decision. Look for scholarships not associated with SAT scores or your GPA for even more money to add to your offer.

Pick colleges and universities where you will be in the top 25 percent of students. Top-choice applicants are the ones who get most of the money. Apply early, and make sure all your financial aid forms are filled out correctly and completely. Incorrect or incomplete forms will delay an admissions decision.

Never underestimate the importance of your extracurricular skills, national origin or special talents. You may be just who a college is looking for. Apply to a variety of colleges, including private, state and out-of-state public and private schools. Your profile may be more desirable to colleges across the country than to those across town.

If it’s financial aid that most concerns you, choose the college that gives you the closest to what you need. Shoot for 60 to 70 percent of the financial aid you receive to be gift aid (money you don’t have to pay back). This is the best you can reasonably expect. Once given a financial-aid package, do not be afraid to contact the college of your choice and inform them of your financial situation. Maybe they will meet your need. Unless you ask, you will never know.

By following these steps, you will pick the college or university that best meets your financial needs.

John Salamone is president and CEO of J. Christopher Associates a College Funding Company. (585) 461-6432.

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