Search
Related Links

 

 

Informative Articles

College Baseball - Who is the Best Ever?
The University of Southern California has a baseball team, the Trojans. The USC Trojans are undoubtedly one of the very best college baseball teams to every play the game. Over 95 of the baseball players from the college level who've made it into...

Navigating the college savings programs
As a parent, the big financial concern with a newborn is how to set aside enough money to assist for a college education. Universities and state governments have developed many different financial savings plans to encourage parents to save money...

Saving For College – Your Number Two Priority
In today’s highly competitive college admissions process, families must never lose sight of the fact that nothing is more important to parent or child than the student’s acceptance to college. Your second priority is how to pay for it. Planning for...

Top Five Techniques for Getting Into Your First-Choice College
Top Five Techniques for Getting Into Your First-Choice College 1. Customize your approach. Applying to college is an exercise in self-promotion. When you send in a college application, you’re sending a sales pitch to a customer with...

What to Consider When Choosing a College Major
So you've picked a school (college or technical) but what are you going to study? I've compiled a list of things to consider when choosing an academic major. Level of interest: Do you enjoy the subject? You are more likely to be successful...

 
College Funding 101

You have a child who is approaching college age and now you have to face what you've been trying to avoid for years: how to pay for that college education! Most parents remember when college tuition, room and board could be had for under $5,000 per year. Now, the price of many private institutions hovers at (or above) $30,000 per year. Multiply that times four years and we're talking about a home mortgage rather than an education! Before you are tempted to send your son or daughter straight to the work world, there are some basics of financing a college education that you need to understand.

According to the Higher Education Act of 1965, which is the law that governs student aid, it is the parents responsibility to educate their children beyond the 12th grade. Most importantly, the law also states that if a family can demonstrate need, then the government will assist in paying for such an education. How is need determined? The basic formula is simple:

Cost of Attendance - Family Contribution = Financial Need

Cost of Attendance The first component of determining your financial need is to determine the cost of attendance. The financial aid administrator at each college develops an average cost of attendance for different categories of students. This will include tuition & fees, room & board, books, transportation and miscellaneous expenses. Bear in mind, this cost can vary somewhat for students in different situations. For example, the New Jersey student attending college in California will obviously have higher transportation expenses than the California student attending the same college.

Family Contribution The next part of the formula is the Expected Family Contribution, or EFC. It is determined by the need analysis methodology as prescribed by federal law. The EFC is the amount you will be expected to contribute towards your student's educational expenses during the academic year. It must be recalculated every year. The Free Application for Federal Student Aid (FAFSA) is the method used by most colleges for gathering the personal and financial information necessary to calculate your EFC. This method takes into account your income and


liquid assets which, theoretically, could all be available to pay for college. One point to be aware of is that your family's EFC does not vary with the number of students in school at one time. There was a time where I thought it was a good thing that my kids were spaced four years apart. Now, I realize that did not work to my advantage in the college funding game! So, for the parents who will have multiple students in school at the same time, this is very good news. Many colleges have financial aid calculators on their web sites which can give you an idea of what your EFC will be.



Financial Need So, let's do the math. If your daughter applies to a school with a $30,000 cost of attendance and your EFC is $16,000 per year, your financial need is $14,000. This need can be met by a variety of federal, state and institutional grants, federal work-study monies and low interest student loans. Of course, you will want to look for colleges which have a history of giving good financial aid packages which may even be above your calculated need.

Other Items to Consider * Avoid the scholarship search game. Of the $117 billion in financial aid available in 2004-2005, less than 1% came from private scholarships (most aid comes in the form of the aforementioned grants, work-study programs and loans). Many families waste a lot of time and effort going after that small slice. * Always apply to at least four to six schools that are rated equally. This way, if your child gets accepted to them all, you may be able to negotiate for a better financial aid package. Don't be afraid to appeal for a better financial aid package! * Increase your income! Obviously, even with the financial aid that is available, college will still be a stretch for most families. You may want to consider starting an on-line business. There are many people supplementing their incomes on the internet. Stay away from get-rich-quick schemes and do your research first!

About the author:

Dave Keegan works full-time as a systems analyst for a large corporation and has quality ideas for helping people get started in internet marketing. For more information, visit: www.dkeeganonline.com

 

SAT Registration - SAT Scores - College Search - College Admissions
Organization representing hundreds of colleges responsible for the Scholastic Assessment Test (SAT), the Advanced Placement (AP) program, and various equity ...
www.collegeboard.com
 
CollegeNET - Online College Applications and Free Financial Aid Search
Guide to colleges, universities, and graduate programs. Provides information on college admissions, links to academic resources, and online applications.
www.collegenet.com
 
college times
www.nytimes.com/college/ - Similar pages
 
Dartmouth College
Welcome to Dartmouth, a private, four-year liberal arts institution that has been at the forefront of American higher education since 1769.
www.dartmouth.edu
 
USNews.com: America's Best Colleges 2007
Top Liberal Arts Colleges · Comprehensive Colleges · Top Northern · Top Southern · Top Midwestern · Top Western · Engineering Programs ...
www.usnews.com
 
CollegeView — College Finder & Recruiting Service
A free online college search service with extensive profiles of all the accredited colleges and universities in the US, including updated contact ...
www.collegeview.com
 
Swarthmore College :: Home
Swarthmore College 500 College Avenue Swarthmore, PA 19081 ... A personal view of the College's program in Argentina's capital from the first student to ...
www.swarthmore.edu
 
College Humor
Everything that's funny on the Internet is right here. Funny pictures, funny videos, and lots of boobies.
www.collegehumor.com
 
The College of William & Mary | W&M
Chartered on February 8, 1693, by King William III and Queen Mary II as the second college in the American colonies. Severed formal ties with Britain in ...
www.wm.edu
 
Reed College
Portland, Oregon liberal arts college noted for rigorous academics and independent study.
www.reed.edu
 
Yale University
Yale University comprises three major academic components: Yale College (the undergraduate program), the Graduate School of Arts and Sciences, ...
www.yale.edu
 
Williams College
Official site for this four-year liberal arts college in Williamstown, Massachusetts. 2000 students choose from 30 majors in 24 departments.
www.williams.edu
 
Amherst College
One of the Five Colleges, this school is consistently ranked one of the top liberal arts colleges in the nation.
www.amherst.edu
 
HAMPSHIRE COLLEGE
A private liberal arts college in Western Massachusetts.
www.hampshire.edu
 
Smith College
A private liberal arts college for women located in Northampton, Massachusetts. A highly selective institution with an undergraduate enrollment on campus of ...
www.smith.edu
 
College - Wikipedia, the free encyclopedia
The institutions formerly known as "Teacher-training colleges" now style themselves ... In Portugal the term college (colégio) is mainly used to refer to ...
en.wikipedia.org
 
Davidson College
An independent liberal arts institution founded by Presbyterians. Contains a calendar of events, history, academic information, alumni and admissions.
www.davidson.edu
 
Emerson College - Bringing Innovation to Communication and the Arts
Emerson College is the nation's only four-year college devoted exclusively to the study of communication and performing arts.
www.emerson.edu
 
Middlebury College
Panthers outdoor official site. Coaching staff, roster, schedule, school records, and past season information.
www.middlebury.edu
 
The Pomona College Web
Private liberal-arts college with a focus on the arts, literature, and languages. A founding member of the Claremont Colleges.
www.pomona.edu
 
 

 

Content Menu
  • 10 deadly mistakes families make when preparing for college

  • 10 pointers on college loan consolidation

  • 4 year colleges vs technical schools your choice

  • 5 advantages of online college degrees

  • 5 steps to help your child succeed in college

  • 5 steps you can take to ensure your kids are ready for college

  • accredited online college and university programs

  • adhd and the college student

  • advising on the best sourced assistance pertaining to college football

  • airbrush for profit sell your services to colleges

  • an introduction to online colleges

  • an online college education overview

  • are colleges safe

  • article writing i should have paid more attention in writing class back at college

  • as college tuition rises scholarships fill the financial aid gap

  • attaining an online college degree

  • avoiding college credit card traps

  • a college degree or an mba is not needed to be financially free

  • a college loan may be unnecessary if you get scholarships or government grants

  • a college loan will finance your education

  • a college roommate story too insane to makeup

  • a guide to college baseball bats

  • bad or good college relationships control and define your social behavior around the campus

  • benefits of a college education for women

  • be happier and healthier with a college education

  • build your business on a shoestring hire a college intern

  • business planning for college students and first time entrepreneurs

  • buying college textbooks

  • cafeteria at fault for college weight gain

  • cheap long distance for college students

  • chiropractic colleges

  • choosing a college degree what is best for you

  • choosing a college major

  • colleges language faculty and student develop online board for the world

  • college and university professionals for human resources to upgrade their association management software

  • college and university professional association in human resources selects gomembers extraweb

  • college baseball who is the best ever

  • college basketball jerseys dont just show your support wear it

  • college books tips and tricks for saving money

  • college bound online shopping solutions

  • college branded clothing

  • college branded golf shirts

  • college branded sweatshirts

  • college cuisine

  • college debt how to avoid it and how to get out of it

  • college degrees

  • college degrees and online college degrees

  • college degree is worth 2 1 million in future income

  • college families overpaid the irs again

  • college financial aid unraveling the myths

  • college football

  • college football the complete history

  • college funding 101

  • college grants on the hunt

  • college is much more than higher education

  • college life secrets to getting by

  • college loans how much do you really need

  • college loan consolidation why now is the best time

  • college money

  • college pickup lines what to say and how to say it

  • college poker

  • college poker tournaments

  • college ranking tips for finding the best schools

  • college recruiting a business for experts

  • college roommates 101

  • college roommates part i dorm life

  • college savings plans

  • college savings plans are they the best choice for my child

  • college savings reward plans making them work for you

  • college scholarships

  • college scholarships how to find money for school

  • college students and credit cards avoid the financial traps

  • college students having academic difficulties

  • college student credit cards how to choose the best one

  • college to be or not to be

  • college tuition prepayment plans stumble

  • college weight gain

  • college without a high school diploma possible

  • college years how to make them unforgettable

  • compensation resources inc releases its 2003 2004 college graduate salary survey

  • creating the acceptable college applicant

  • direct loans the new way to fund going to college

  • discover how online college classes work

  • distance learning college

  • do you need a college loan

  • do you really need college to learn to play music

  • earning a college degree online

  • editing your college essays

  • education colleges or universities to support choices in careers or jobs

  • enroll in car college

  • entrepreneurs you might want to drop out of college

  • essay types and modes youll need to write for college

  • even more college roommate tips

  • federal aid for your college education

  • financially stable kids prepared for college

  • financial aid for college students grants

  • financing a college education

  • finding a scholarship or college grant

  • five steps to choosing a college

  • free money for college

  • free nfl picks free college football picks

  • funding a college education where to start

  • getting a college degree after the military

  • getting a college degree online

  • getting into college is no longer a numbers game

  • getting ready for your college education

  • getting the best online college education

  • get a college education online

  • get your college degree online

  • good reasons to get a college education

  • government grants for college students

  • have you been looking for the most informative advice regarding college search help

  • higher education finding the right college for you

  • holistic junctions featured school of the week american association of naturopathic medical colleges aanmc

  • holistic junctions featured school of the week new york chiropractic college

  • holistic junctions featured school of the week pioneer pacific college

  • holistic junction s featured school of the week american association of naturopathic medical colleges aanmc

  • homework on college credit cards

  • hookah a smoking new trend among college students

  • how not to kill your new college roommate

  • how online college classes work

  • how to choose a college

  • how to choose the right college credit card for you

  • how to cut down on college stress

  • how to deal with college and university exams

  • how to find the best college credit cards

  • how to get a bad credit student loan or student loan consolidation to help your college education

  • how to get free money to save for your childs college education

  • how to get student loans for college

  • how to give yourself a raise with an online college degree

  • how to meet your mate while in college

  • how to save money while at college

  • how to score an a with college admissions officers

  • how to survive college life

  • index

  • indiana real estate racing amateur sports and college football

  • is affirmative action in jeopardy on college campuses

  • is college degree worth money investments

  • its never too early or too late to save for college

  • job search tip for college students

  • job seeking advice for college graduates

  • learning on the net online college classes

  • looking for college grants

  • mail order college degrees worth the risk

  • manhattan area technical college

  • minimising the chaos what to pack for college

  • money for college where is it and how do i get it

  • money making money saving tips for college students

  • more crazy college roommate stories

  • more true college roommate stories

  • more ways to use the taxation system to pay college education costs

  • most colleges require letters of recommendation

  • navigating the college savings programs

  • need help to pay for a college education

  • new website for college students to exchange textbooks and more on campus

  • non traditional college education

  • no knowledge no college goodbye career

  • official college rankings a students best friend

  • one month old baby begins saving for college blog

  • online colleges the new frontier in education

  • online college courses benefits and advantages to an online education

  • online college degrees

  • online college degrees distance learning

  • online college degree the choice of today

  • online college programs how to apply

  • online education know your options before you enrol at a university or college

  • online education used for college classes

  • open new doors with a college education

  • options for designing a college savings plan for your childs higher education

  • paying for a college education the army way

  • paying for college

  • paying for college scholarships and federal aid

  • paying for your childs college education

  • paying for your child s college education

  • planning for college applications starting out early

  • preparing for college

  • reduce college debt with scholarships

  • reducing college textbook costs

  • reducing the administrative burden for further education colleges

  • retire directly from college

  • rotator

  • satellite radios impact on college sports

  • saving for a college education

  • saving for college how to make your plans

  • saving for college put your kids to work

  • saving for college with section 529s

  • saving for college your number two priority

  • saving money for college

  • saving money for college and 529 plans

  • saving money for college key strategies

  • scholarship search how to find free money for college

  • scrapbooking yourself as a girl youth and your college days

  • searching for the latest and accurate help pertaining to electoral college

  • send your child to college free

  • six ways to prepare your child for college

  • sportgamble us picks this years college football bowl games

  • starting college

  • start a college fund for your baby now

  • still more crazy college roommate stories

  • still waiting what to do when your child lands on the college wait list

  • stress and alcohol how to avoid two major pitfalls of college life

  • students in private collegees

  • students in private colleges

  • students of private colleges

  • submitting the college application

  • successful college study habits

  • summer sublease perfect for college students

  • take advantage of the exploding popularity in distance learning colleges to advance your career

  • take advantage of the exploding popularity of distance learning colleges

  • test preparation for college entrance tips and strategies

  • the advantages of attending a career college

  • the all important college application

  • the american college of nurse midwives upgrades its gomembers pinnacle solution

  • the art and science of finding a college

  • the benefits of taking a college course online

  • the business college for the digital

  • the college bound students early bird menu

  • the college search begins early includes entire family

  • the college students guide for easy weight loss

  • the college wait list game

  • the cost of a college education

  • the facts about college financial aid

  • the four season of college basketball

  • the girl in my college

  • the importance of a college education

  • the keys to obtaining and refinancing your college loan

  • the key to online college classes have it your way

  • the real scoop on college planning

  • the value of a college education

  • thinking of dropping out of college

  • time management for college students

  • tips for college students in choosing a major and or minor

  • tips on college selection

  • tips on how to survive college life

  • tips to consider for your college search

  • tips to get into college

  • top 25 college football rankings are meaningless

  • top college basketball arenas

  • top college football plays for the week

  • top five techniques for getting into your first choice college

  • top football stadiums in college

  • to buy or rent for your college student

  • troy dunn teaching at platt college

  • use tax credits to help finance your college education

  • using the tax system to finance a college education

  • warning college stress buster secrets professors dont know and parents cant tell

  • what are the benefits of going to a natural health college

  • what college taught me about teamwork training

  • what is the cost of college tuition

  • what sets a college student credit card apart from other credit cards

  • what to consider when choosing a college major

  • what to pack for college part one

  • what to say in the college essay

  • which college loan is right for you

  • why are some online degree colleges better than others

  • why colleges are an independent musicians goldmine

  • why college degrees

  • why should college students care about their credit score

  • why you need a college degree

  • womens college basketball history and background

  • writing a college term paper

  • writing a successful college application essay

  • writing college admissions essays that take first place a personal statement checklist

  • writing help for college students

  • writing the all important college application essay

  • your childs college education savings plan discover 4 great options

  • your college on wheels

  • you are a recent college graduate have a job and now what