If your family has a prospective college student, chances are the applications are completed, and the student may even have an acceptance letter if the college has early decision or rolling admissions.
The next step could be figuring out how to pay for college. Better Business Bureau (BBB) advises students and their parents to be wary of websites, seminars or other schemes that promise to find scholarships, grants of financial aid packages for a fee. Even if the company promises a money-back guarantee, there often are many conditions, making it almost impossible to obtain a refund.
Most colleges have their own financial aid office that provides many of the same services at no charge. After all, they want students to be able to attend their college or university if they qualify for admission.
The standard application for financial aid is often the Free Application for Federal Student Aid (FAFSA), which students and their parents can complete themselves online. More information is available online at fafsa.ed.gov. Besides the application, the site has lots of information on college costs.
Colleges usually require the FAFSA to determine a student's eligibility for need-based aid, and they may require additional information or their own application as well.
High school guidance counselors can help students search for information on scholarships based on their talents, academic achievements, essay contests or merit-based aid. Public libraries also can help with a search.
BBB's tip for students looking for aid include:
Take your time. Do not be rushed into paying for help at a seminar. Be cautious if a representative urges you to buy now to avoid losing an opportunity.
Be cautious if a company is reluctant to answer any questions you have about the service or the process. If the company or seminar representative is evasive, walk away.
Ask your guidance counselor or a college financial aid office whether they have experience with the company.
Be skeptical of glowing success stories touted on websites or at seminars. Ask instead for the names of families in your community who have used the service in the last year. Talk to them and find out about their experience with the firm.
Ask about fees associated with a professional financial aid search and find out if the company provides refunds. Get the information in writing, but realize the dishonest companies may refuse to provide refunds despite stated policies.
Beware of letters or emails saying you have won or been selected to receive a scholarship or grant for a contest you never entered.
Investigate any company that you consider using to help find aid. Check the company's BBB Business Profile at midmobbb.org or by calling 573-886-8965.
Sean Spence is the Mid-Missouri regional director for Better Business Bureau.
Tips for financial aid for
college
By Sean Spence
For the News Tribune
If your family has a prospective college studtent, chances are the applications are completed, and the student may even have an acceptance letter if the college has early decision or rolling admissions.
The next step could be figuring out how to pay for college. Better Business Bureau (BBB) advises students and their parents to be wary of websites, seminars or other schemes that promise to find scholarships, grants of financial aid packages for a fee. Even if the company promises a money-back guarantee, there often are many conditions, making it almost impossible to obtain a refund.
Most colleges have their own financial aid office that provides many of the same services at no charge. After all, they want students to be able to attend their college or university if they qualify for admission.
The standard application for financial aid is often the Free Application for Federal Student Aid (FAFSA), which students and their parents can complete themselves online. More information is available online at fafsa.ed.gov. Besides the application, the site has lots of information on college costs.
Colleges usually require the FAFSA to determine a student's eligibility for need-based aid, and they may require additional information or their own application as well.
High school guidance counselors can help students search for information on scholarships based on their talents, academic achievements, essay contests or merit-based aid. Public libraries also can help with a search.
BBB's tip for students looking for aid include:
Take your time. Do not be rushed into paying for help at a seminar. Be cautious if a representative urges you to buy now to avoid losing an opportunity.
Be cautious if a company is reluctant to answer any questions you have about the service or the process. If the company or seminar representative is evasive, walk away.
Ask your guidance counselor or a college financial aid office whether they have experience with the company.
Be skeptical of glowing success stories touted on websites or at seminars. Ask instead for the names of families in your community who have used the service in the last year. Talk to them and find out about their experience with the firm.
Ask about fees associated with a professional financial aid search and find out if the company provides refunds. Get the information in writing, but realize the dishonest companies may refuse to provide refunds despite stated policies.
Beware of letters or emails saying you have won or been selected to receive a scholarship or grant for a contest you never entered.
Investigate any company that you consider using to help find aid. Check the company's BBB Business Profile at midmobbb.org or by calling 573-886-8965.
Sean Spence is the Mid-Missouri regional director for Better Business Bureau.