College Counseling

Affording College

FAQs:

List of 7 items.

  • HOW DO I CALCULATE THE OVERALL COST OF COLLEGE?

    To calculate the overall cost of college, be sure to consider all types of cost:

    Billable Costs include tuition, fees, and on-campus room and board.

    Indirect Costs include books and supplies, off-campus room and board, personal expenses, and travel costs. Indirect costs do not show up on the college bill, but should be considered in the total cost of attendance.

  • HOW MUCH WILL I NEED TO PAY FOR COLLEGE?

    To estimate how much you will need to pay to attend college, focus on your Net Price:

    Net Price is the amount that a student pays to attend an institution in a single academic year after subtracting scholarships and grants the student receives.

    Sticker Price minus Financial Aid and Scholarships = Net Price

  • HOW CAN I ESTIMATE MY NET PRICE? WHAT IS A NET PRICE CALCULATOR?

    Net Price Calculators are available on every college’s website. They help prospective students get a clearer picture on what they will be expected to pay. Students enter information about their family’s financial situation to learn what similar students paid to attend the institution in the previous year. Knowing your net price makes comparing colleges easier.

    To research multiple colleges or universities, access College Navigator: Enter information for the school you are looking for, click Show Results, and select the individual college. Then, click on “Net Price.” There you’ll find the average net price for the entire undergraduate population, and the net price that is specific to family income range.

    Another useful net price calculator is MyIntution Calculator

  • WHAT ARE THE DIFFERENT TYPES OF FINANCIAL AID?

    Comprehensive student financial aid information is available from the U.S. Department of Education Federal Student Aid (FSA) website.

    Grants are awarded to undergraduates who have financial need and do not need to be repaid.

    Loans are borrowed money that must be repaid with interest.

    Work-Study is a federal work program available at participating colleges. It is based on demonstrated need, and eligible students work to help pay for school.

    Scholarships and other sources of financial aid are available from states, governmental agencies, colleges, nonprofits, and private organizations. For more information, see the U.S. Department of Education Federal Student Aid (FSA) website.

  • HOW DOES A STUDENT RECEIVE FINANCIAL AID?

    For Federal Financial Aid, students are required to file a FAFSA (Free Application for Federal Student Aid).

    Using information obtained through the FAFSA, the federal government awards need-based grants, loans, and work-study funds to eligible students. The application is available on October 1.

    Through the FAFSA, a student’s financial need is calculated as the difference between the cost of attending the school, the Cost of Attendance (COA), minus any expected financial assistance, such as gifts or outside scholarships. The Expected Family Contribution (EFC) is the amount that the student and their family is expected to pay for each year of college.

    Effective October 1, 2022, Student Aid Index (SAI), defined as "an index that reflects an evaluation of a student's approximate financial resources to contribute toward the student's postsecondary education for the academic year" will replace the EFC defined as "a measure of how much the student and his or her family can be expected to contribute to the cost of the student's education for the year" in determining a student's "need."

    COA minus SAI = Student Financial Need

  • HOW DO I ESTIMATE MY STUDENT AID INDEX (SAI)?

    The FAFSA4caster is a tool that provides students with a free early estimate of eligibility for federal student aid.

  • WHAT IS THE CSS PROFILE?

    The CSS Profile is a tool created by the College Board that allows students to apply online for non-federal financial aid from colleges, universities, and scholarship programs. It is required by some colleges and universities and is available on October 1.

    Institutional Aid Applications: Be sure to check each individual school’s website to find out what forms are required for institutional aid and when they must be filed.

Scholarship Scams

Every year an estimated 350,000 students and parents fall prey to scholarship scams at an annual cost of more than $5 million. The lure of "Free Money" fools even skeptical people.

List of 4 items.

  • Don't Be Fooled

    There are dozens of scams based on limitations of legitimate foundations, scholarship sponsors, lenders, and scholarship search services. They may even have official-sounding names, using such words as "National", "Federal", "Federation", "Division", "Foundation", and "Administration". Or a governmental-looking seal to fool you into thinking that they are federal agencies or grant-giving foundations.

  • Warning Signs of a Possible Scam

    If a scholarship program requires an application, redemption or handling fee, even an innocuously low one like $5 or $10, don't waste your money. More than 99.9 percent of legitimate scholarship sponsors do not require an application fee.

    Likewise, be wary of loan programs that require the up-front payment of origination, guarantee or other fees. All federal, state and private education loan programs deduct loan fees from the disbursement check. No legit program requires the fees in advance.

    No sponsor will guarantee that you will win the award, and scholarship search services cannot guarantee that you will win an award. Loose eligibility restrictions and high success rates are another warning sign; scholarship sponsors do not handout awards to students just for breathing. Less than four percent of all students win private scholarships. More than 75 percent of all student financial aid comes from the federal and state governments.

    Many scholarship scams use a mail drop for a return address (sometimes disguised as a "Suite"), and many do not include a telephone number for inquiries. If no telephone number is listed, call directory assistance to see if they have a listing. A Washington, DC, address does not mean that the organization is a federal agency. Many scams also seem to originate from Florida or California.

    Be careful if the announcement has a deadline in only a few weeks and encourages you to respond quickly because the awards are given on a "first-come, first served basis." Other watchwords include "free money," "billions in unclaimed aid" and "win your fair share."

  • Protecting Yourself from Scholarship Scams

    Two rules of thumb will help safeguard you from most scholarship scams:
    • If you have to give money to get money, it might be a scam.
    • If it sounds too good to be true, it probably is.
    Don't give out your bank account numbers, credit card numbers, calling card numbers or social security number over the phone, especially to an unsolicited offer that needs the information for "verification purposes."

  • What to Do If You Suspect a Scam

    If you suspect a scam, bring a copy of all literature and correspondence to your school's financial aid office. If you're still in high school, ask your guidance counselor or the financial aid administrator at a local college for advice.

    Call your local Better Business Bureau (BBB), State Bureau of Consumer Protection and the State Attorney General's Office. Report the offer to the National Fraud Information Center at 1-800-876-7060 and send e-mail to scams@finaid.org.

Myths & Facts:

List of 7 frequently asked questions.

Financial Aid & Scholarships

College costs, even at public universities, are steadily rising each year. Every student’s college journey is unique, and we understand that families approach the college search process from varied financial circumstances. We suggest that families have candid conversations about financial limitations and/or expectations no later than the student’s sophomore year in order to manage expectations throughout the college search and application process.

These are things to consider when planning for college costs:

List of 4 items.

  • Academic Scholarships

    While some organizations offer academic scholarships (such as the Gates Foundation and the Coca-Cola Foundation), the vast majority of academic scholarships come directly from a college or university. Many colleges will require applicants to apply separately for scholarships, and it is the student’s responsibility to learn the requirements for each institution of interest. Many highly selective colleges do not offer academic scholarships, and those that do are typically awarded to a small percentage of their applicants. If receiving an academic scholarship is a priority, students need to be open to applying to a variety of public and private colleges. As always, your counselor can help you identify appropriate institutions to consider.

  • Additional Scholarships

    Some colleges offer scholarships for students majoring in the fine arts, which are typically awarded after auditioning or presenting a portfolio. Other students may qualify for a community service scholarship. Check with individual institutions and organizations to learn about possible awards.

  • Athletic Scholarships

    Only a small percentage of college-bound seniors will be NCAA Division I recruited athletes. However, it is possible for exceptional athletes to frame their college search process with this goal in mind. The athletic recruiting process sometimes starts as early as sophomore year. While most college coaches operate with integrity, a few make unrealistic promises about admission or scholarship opportunities. Please know that nothing is final until it is in writing, and always have a back-up plan. There are more options for students interested in NCAA Division III athletic participation, but families should be aware that athletic scholarships do not exist in these programs.

  • Federal Aid

    You must apply for federal aid using the Free Application for Federal Student Aid (FAFSA). Many colleges will also ask families to complete the CSS Profile. Additionally, colleges may have their own financial aid forms. After completion, colleges may award a combination of grants, loans, and work-study aimed at reducing college costs. Students must complete these forms annually to receive aid.

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