Dear Friend,
Aside from being my birth month, January is special because it seems to give a glimpse of new possibilities, a chance to start over. In one of my favorite quotes from Anne of Green Gables, she philosophizes, “Tomorrow is always fresh with no mistakes in it.” So it is with the turning of the calendar page to another year. Yes, there will still be consequences for the mistakes of last year, but this year is unsullied and I can choose a different path. Somehow it always lightens my step to be in a place of new beginnings.
Blessings,
Jeannette
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Feature Article: Lowering Your Financial Contribution
Now that most college applications are submitted, it is time to turn your attention to financial aid applications. In tight economic times, many families are struggling and schools are as well. With the stock market crash, many colleges' endowments were severely damaged. I know of several top schools that eliminated merit scholarships altogether. This is particularly hard on those whose income falls in the "middle income melt" range, when a family’s income is not low enough to qualify for lots of need-based assistance and not high enough to pay for a college education outright. It's a tough spot to be in.
A term you need to understand is EFC - Estimated Family Contribution. This is the amount of money the federal government determines a family can pay for college, based on the information filed in the FAFSA (Free Application for Federal Student Aid). Most schools require the FAFSA. Some private schools also use the CSS/Financial Aid Profile, a service of CollegeBoard. The EFC is the same regardless of variable tuition, room, board, and fees at different schools. You can get an estimate of your EFC at: www.fafsa4caster.ed.gov
One way to possibly bring down your EFC is to fully maximize your homeschool expenses. We really are in a private school situation and bear many expenses that families in public school do not. Sit down and figure out how much it is costing you to educate your children. Go through checkbooks, credit cards statements, etc. and take good notes.
educational books and materials magazine subscriptions curriculum science materials online classes co-op tuition college tuition (for those enrolling concurrently) umbrella school fees tutors music lessons organizational dues tournament fees transportation to all these events computers
The public school has music, sports, debate, etc. and would pay for that if your children were there. Taking the time to document this information can help lower your EFC.
However, I have always encouraged my clients (and my children) to hold their school choices lightly and to apply to a range of schools. If the family is financially strapped, the student needs to be prepared to go to the school that offers them the best financial deal, even if it is not their first choice. For my daughter, that meant the University of Oklahoma, which offers full rides to National Merit Scholars. She wasn't excited about it, but knew she could get a decent education there if she was willing to make the most of every opportunity. She was fortunate in that her first choice school offered her the best financial deal as well, so she didn't have to take up the safety option. But, she was emotionally prepared to do so.
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Resources: Appealing Financial Aid Decisions
Even if you present your homeschool expenses in the original financial aid applications, you might find they are overlooked. If so, you can always file an appeal. Check with the school for the exact process. Then write a letter fully explaining your circumstances. They want you to “paint a picture” of your situation so they fully understand. Don’t state that you deserve more or they have made a mistake. Just politely note the special financial circumstances they might have overlooked or not given due weight. This is especially true if another school has given your student more financial aid (considered your circumstances as worthy of more aid). Gently point this out to the admissions office.
Perhaps you have other extenuating circumstances as well that need to be detailed - debilitating disease, job loss, or pay reductions. Sometimes there are situations that cannot be detailed in the forms and just need further explanation. For example, my daughter was given work-study as part of her financial package. As an engineer also enrolled in a rigorous humanities sequence and a violinist, there were not enough hours in her day as it was. The financial aid office awarded her more grant and scholarship money since she was working so hard academically and eliminated the work-study component of her package.
In making an appeal, bring relevant information to their attention in a pleasant manner. Your approach can make a world of difference.
Check Out Our New Resources
We’ve added some great new books and DVDs to the Resource section of our website. From educating and training younger children to making the best college choices, you’ll find things our family has personally used and highly recommend. Check it out.
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About Us
Jeannette Webb is the founder of Aiming Higher Consultants, a firm dedicated to helping Christian students gain admission to great colleges. She has a heart for assisting parents as they train their children for excellence. Jeannette works to empower families to make thoughtful choices for their younger children, to confidently navigate the difficult high school years, and then ace the college admissions process.
If you liked today’s issue, you’ll love her personalized consulting services that help you map out a holistic plan for your student.
While Jeannette is best known for her clear-sighted counseling, her clients feel that her biggest gift to their family was permission to be themselves.
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