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Top 10 Financial Aid Mistakes... Buy the Book!

Click here for printable version that can be distributed to your students and their families.

  1. Encyclopedia Britannica: Not Knowing the Jargon
    Learn the language of financial aid, including form names and acronyms. Colleges may have their own jargon.
  2. What to Expect When You’re Expecting: Failing to Organize Paperwork
    Get organized by creating a financial aid file, including copies of all applications and forms. Refer to tax returns and prior applications when completing new forms.
  3. Rich Dad, Poor Dad: Expecting Too Little or Too Much
    Low income families tend to underestimate the availability of financial aid while middle and upper income families overestimate the availability of grants and scholarships.
  4. The Millionaire Next Door: Comparing Yourself to Others
    Each family has unique circumstances. Tell your financial aid officer about significant reductions in income, unusual medical expenses, child care expenses, a prior bankruptcy, financial support provided to extended family, etc.
  5. The Greatest Salesman in the World: Waiting to Negotiate a Deal
    Because financial aid funds are limited, it is important that you reveal all financial concerns as soon as possible. Be prepared to document your circumstances.
  6. Hooked on Phonics® Parent’s Guide: Failing to Read
    Know the terms and conditions of all awards, especially regarding the renewability of gift aid. Find out what steps you need to take next. Teach the student to read too!
  7. The Cat in the Hat: Missing Deadlines and Making Messes
    Keep a calendar so that you know what documents to submit and where they should be sent. Pay attention to bills, loan payments and re-application procedures.
  8. The Wizard of Oz: Lacking Brains, Heart or Courage
    Develop a 4-year plan, have the courage to ask questions and remember that the financial aid officer has a heart and wants to help.
  9. A Penny Saved: Using Only Income to Pay for College
    It’s never too late to start saving! Also, look for ways to reduce expenses, maximize student earnings, etc.
  10. Grimm’s Fairy Tales: Creating a Fairy Tale
    Be honest with yourself, the student and your aid officer!