3 Mistakes That Increase Your College Costs
ningcontent1. The first mistake parents make is assuming that the Award Letter your child receives is set in stone because too much is still in the air at the time the awards letters go out. Many students will end up going to other schools leaving money on the table. Schools will have vacant seats and may be willing to sweeten the deal to fill their classrooms.
2. Many parents and students do not understand the “Early Decision” process. The early decision process is often binding. Your child agrees to the commitment if the college accepts your child with an adequate financial aid package. The school knows by this action, that they have no competition. This does not put you in the best position for cutting the best deal.
3. It is a big mistake not to develop a great relationship with the Financial Aid Officers at the potential schools. Financial Aid can be subjective. The Director is able to make adjustments and can use professional judgement to change items taking into account your current financial situation. So document your expenses and notify the financial aid office of any special circumstances as they occur.
It is now as important as ever to be very wise in our financial commitments. Understand how the college financial aid system works and allow it to work for both you and your student.
Article by, College Parenting Expert, Dr. Debi Yohn, whose advice on successfully getting college students through college with an emphasis on graduation and rewarding employment is sought by parents from around the world. Now for the first time, she reveals 27 Winning Strategies for Success – a guidebook geared to parents of new college students. Get her free e-Book now at http://www.collegeparentsadvice.com/ and improve your child’s chances of a successful college experience.
