Great Advice for Parents 2022

The EFC formula considers income, dependency status, family size, and the number of family members who will attend college.

APPLY FOR AS MANY SCHOLARSHIPS AS POSSIBLE Since many schools won’t be able to meet your full financial need, you’ll need a way to pay the difference between the financial aid your school offers and what the school costs. Scholarships are a great way to fill the gap. Don’t wait until you receive your financial aid offer to start applying for scholarships. There are thousands out there, but many have early deadlines. Set a goal for yourself; maybe you aim to apply to one scholarship per week. Make scholarship applications your focus while you wait for your financial aid offer. The applications may take some time, but the possible payout makes it all worth it. 3

There are several places you can look for school scholarship money.

MAKE SURE YOUR SCHOOLS HAVE EVERYTHING THEY NEED After your FAFSA form has been processed successfully, it’s a good idea to make sure the schools you listed on your FAFSA form have received everything they need. Find out if your school requires additional applications or documentation and submit any required documentation by the appropriate deadlines. 4

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