College Prices and Affordability

Money, Money, Money…

If you have ever bought a car, planned a wedding or purchased a home, then you know how important it is to stay within your budget. College is another financial commitment! I often get the question, “Can we afford it?”

Money is a very important part for the majority of families looking to send their son or daughter to college. It is critical that this topic is discussed prior to filling out college applications. Allowing your student to have a realistic vision of which colleges are too pricey versus schools that are financially better for your family will help ease anxiety for all members. To answer some of your financial aid questions, simply visit the colleges of interest or pick up the phone and connect with a financial aid advisor. If you decide to visit the college, you should setup an appointment with the Financial Aid Officer while your student tours the campus.

Here are some great questions to ask:

What is the average financial aid package? What percentage of financial need does the school typically meet? What is the average merit award? What is the average college debt that students leave with? What types of work-study opportunities are there for students? Is the school need blind or need aware? What formula does the school use for determining the financial need? What are the deadlines for the CSS Profile and the FAFSA?

The FASFA is a Free Application for Federal Student Award. This can help you figure out how you will pay for your student’s college education. This application is available and should be completed before you file your taxes. The 2014-12015 application is available and can be filled out by visiting this website. Again, every family should fill out this form; it is FREE!

To help families with questions about the FAFSA, please attend one of the events at the College Goal Sunday USA. For information on Georgia events, click here. This is a FREE event and is sponsored by the GSFC.

Also note that Williams Educational Consultants now has a program that will help you figure out the potential college costs. Please speak with your Educational Consultant to learn more about this program.