Saturday, 24 January 2009
While January is not typically when college is top-of-mind, it's first-come first-serve time for most college financial aid. Whether they're grants and scholarships, or loans and work study (as of January 1st) now is the time to apply, particularly for federally-based FAFSA student aid, which does not have an application fee). As scholarships can be either need or merit (and not necessarily grade/GPA)-based, or a combination of the two it's worth checking out. For separated or separating households, for need-based evaluation and qualification, it's important to keep in mind what will help your application be more appealing. Most applications consider the income of the primary residential parent (it often takes only one day more a year to be considered "primary"), rather than the parent with legal custodial rights and which parent claims their child as a tax deduction.
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Where to start? One option is to check with the colleges of interest, another is to look more broadly. If you're looking for assistance or guidance, check with your school for their resources, or consult an expert.
Mark Lengel, a Certified College Planner provided the background for this. For more info, contact Mark at (360)904-6510 or look into his next workshop, http://www.marklengel.com/workshops, or sign up for his free e-newsletter via Tuition-RX@nwtrx.com.