Cost of college and scholarships

[uncdrew]

So how does FAFSA work?

You got to a web site and enter a bunch of private info from tax forms, bank accounts, etc.?

Then it tells you what, exactly?

 

[LEsoftballdad]

So how does FAFSA work?

You got to a web site and enter a bunch of private info from tax forms, bank accounts, etc.?

Then it tells you what, exactly?

You go to studentaid.gov to access the FAFSA. You create an FSA ID for the student and one for the parent, then access the FAFSA. This year's form is straightforward. You log in and complete the student information first, including schools, finances, and demographics, and then it sends an invite to the parent. Only send it to the parent who will fill out the FAFSA, not both parents. The parent then signs in and completes their portion. In most cases, FAFSA will import your tax information from the IRS, but you must enter information about your assets.

You wait a few weeks for them to review it for you, and then they give you a number called the Student Aid Index, or SAI. The schools then use that number to determine what, if any, aid they will provide to you.

 

[uncdrew]

You go to studentaid.gov to access the FAFSA. You create an FSA ID for the student and one for the parent, then access the FAFSA. This year's form is straightforward. You log in and complete the student information first, including schools, finances, and demographics, and then it sends an invite to the parent. Only send it to the parent who will fill out the FAFSA, not both parents. The parent then signs in and completes their portion. In most cases, FAFSA will import your tax information from the IRS, but you must enter information about your assets.

You wait a few weeks for them to review it for you, and then they give you a number called the Student Aid Index, or SAI. The schools then use that number to determine what, if any, aid they will provide to you.

Thank you.

I suppose I'm a year away still, as my eldest is a junior.

So at some point the school contacts you and says "we can give you $X". And this is a loan or a reduction in tuition, or a grant?

 

[Northball]

So how does FAFSA work?

You got to a web site and enter a bunch of private info from tax forms, bank accounts, etc.?

Then it tells you what, exactly?

You designate what school(s) you want the FAFSA info sent to, then the schools use their super-secret formulas to determine what kind of financial aid package your student qualifies for, and how fat a check you have to cut (or borrow) to get them in.

 

[Orange Socks]

So how does FAFSA work?

You got to a web site and enter a bunch of private info from tax forms, bank accounts, etc.?

Then it tells you what, exactly?

It tells you that you make too much money and you qualify for loans!

 

[mmeece]

I'm in process of deciding with DD which college camps to attend in the summer, fall, etc. While researching, I'm finding out more and more that the scholarships given out to softball athletes are minimal in value, in comparison to total cost of attendance. My kid isn't a D1 blue chip athlete but has solid grades and if she continues to play, possibly smaller D1, but more likely a D2, D3 level player. for those of you farther along in the process, those with seniors on track with possibly having a DD ready to commit and play, how are the financial aid packages looking like? Have you or your DD turn down offers to play because of not having a large enough financial package? I'm running NPC calculators and aside from a public school in state, I'm worried it's looking like $25-35K a year for us. I don't want DD to walk out with a $100k in loans from a school.

I didn't read through all of the replies, but if cost is a major concern then juco is by far the best route. Often get 100% scholarships/aid packages, play quality softball, and possibly raise your value to a D1 or D2 school.

 

[Sweet Lou]

None of my three kids played collegiate sports so no sports scholarships.

We always made/make too much money for need based aid.

We need to fill out this year's FAFSA but DDs school told us to wait until February 1 until the new system gets the bugs out. We will again get no need based money. But DD get's academic money that covers roughly half. Still with that our total costs are around $38K per year (that's all in for tution, housing, food, books, supplies, etc but not travel too and from).

And remember that with private schools sticker price is rarely actual price. And if DD has choices go back to their financial aid department and say School X is going to give us $Y, can you do beat that in your package? If your DD is desireable, they often will but you do need to ask sometimes.

 

[LEsoftballdad]

Thank you.

I suppose I'm a year away still, as my eldest is a junior.

So at some point the school contacts you and says "we can give you $X". And this is a loan or a reduction in tuition, or a grant?

That's it in a nutshell.

 

[Vertigo]

Don’t forget - in addition to the FAFSA some schools require you to fill out their CSS profile. Talk about crazy, intrusive questions! This, in addition to the FAFSA, are what schools will use to come up with a complete FA package. My DD’s school did give her some money this year as we now have 2 kids in college. However, the federal government does not acknowledge that anymore like LESoftballdad said. I’m hoping for the same this year, but we shall see. Her freshman and sophomore years she was full-pay. DS thankfully scored a nice academic scholarship from his school which helps tremendously.

The FAFSA took me about 15 min to complete. The CSS profile - almost 2 hours!! Thankfully this was the last year I needed to do it. DS doesn’t need either completed to retain his scholarship.

 

[LEsoftballdad]

Don’t forget - in addition to the FAFSA some schools require you to fill out their CSS profile. Talk about crazy, intrusive questions! This, in addition to the FAFSA, are what schools will use to come up with a complete FA package. My DD’s school did give her some money this year as we now have 2 kids in college. However, the federal government does not acknowledge that anymore like LESoftballdad said. I’m hoping for the same this year, but we shall see. Her freshman and sophomore years she was full-pay. DS thankfully scored a nice academic scholarship from his school which helps tremendously.

The FAFSA took me about 15 min to complete. The CSS profile - almost 2 hours!! Thankfully this was the last year I needed to do it. DS doesn’t need either completed to retain his scholarship.

I call the CSS a virtual financial colonoscopy.

My record for completing a CSS Profile is 10 minutes, but I've done thousands of them over the last 20+ years.