Financial Aid - More Updates
Dear Parents;
One of my goals is to make sure everyone can comfortably send their students to college. It seems my newsletters this year have focused heavily on financial aid. It is because there is new information coming out daily, and information about Merit Aid needs to be shared repeatedly.
The first article this month is on my favorite subject: Merit Aid. It is the best way to pay for college. In my opinion, for two main reasons: 1) the student truly feels he/she is contributing to his/her education: “buy in”; 2) it makes the student “special” on campus: often with special privileges such as registering first for classes and living in dedicated dorms for scholarship recipients.
The second article shares information about the changes to the Free Application to Federal Student Aid (FAFSA). It is always important to submit a FAFSA each year your student will be in college, even when a family does not think they will qualify for need-based aid. Some schools will want to see the FAFSA on file for statistical purposes when awarding merit aid.
I am sure you will find both articles interesting. Always feel free to ask me questions. I am here to both help students reach their goals for college and achieve their aspirations, as well as to help educate parents so the process of sending your students to college is not overwhelming. Thanks for taking the time to read my newsletter!
Sincerely,
Catherine L. Marrs, CEP
17 Things to Know About Merit Aid Scholarships
When it comes to paying for college,merit aid is one way to close the gap between the cost of attendance and need-based financial aid. Merit aid is a form of college financial aid that does not consider a student's financial need, but rather is awarded based on academic, athletic, artistic or special-interest merit.
The average merit award to full-time undergraduates in an annual survey was $11,287 in the 2019-2020 academic year.
FAFSA Application Changes Are Coming - What They Mean for Middle- and High-Income Families
College students and their parents should mark their calendar because July 1, 2023, will be a big day. It’s the day that many new financial aid rules go into effect thanks to a funding bill signed into law at the end of December to avoid a government shutdown and provide pandemic relief.
The Consolidated Appropriations Act (CAA), 2021 contains provisions that expand those provided by the Coronavirus Aid, Relief, and Economic Security (CARES Act) [...]