Most parents figure whatever the schools ends up offering them is the best that they will get.
Let me tell you something… nothing could be further from the truth!
Let’s put it this way. When you went to purchase a car – did you accept the first offer they made you, or did you look at their price as a “starting point” for negotiation?
Why is college any different?
A college education is one of biggest investments you will ever make! Doesn’t it make sense to treat it like any other major purchase?
So where do you begin?
For starters, your child should be doing their best to get good grades and test scores.
Second, you must start narrowing down your school choices to where your child lies in the top 25 percent of the applicant pool.
Next, you must start researching schools that have the best policies and history of giving good financial aid packages. Hint: Pick schools that are well endowed and have money to give out to students.
Fourth, apply to at least six to eight schools that are the same academic caliber. This allows you to pit one college against the other when negotiating for a better financial aid package.
Lastly, you must know your numbers in advance.
For example, do you know what your “Expected Family Contribution” is? It is the minimum amount that the government expects you to pay towards any school.
Schools determine what they are going to offer you by subtracting your Family Contribution from their “Cost of Attendance.” This determines your “Financial Need.”
Make sure your financial packages meet most or all of your need. If they don’t, call or write the school to discuss why they “left you short.”
Follow these steps and you should have no problem getting a great package.
If you have a child in 9th and above, you must come see us to learn how to get your child accepted into the best fit college while maximizing all the grants and scholarships that apply to your situation, regardless of your income or assets. We are offering a $497 college planning session for $97 for the first seven families who call or inquire. Please mention this article in The Magazine of Santa Clarita.
Brian Safdari is a certified College Planner with offices located at 28494 Westinghouse Place, suite 206 in Valencia. For more information, please call 661-295-9946 or visit www.collegeplanningexperts.com.