"Across the country many parents are experiencing a variety of emotions. They are watching with pride as their child graduates from high school and goes on to the next phase of life, but they are also breaking out in a cold sweat as they try to determine just how much having a child in college is going to cost," the Huffington Post reports. "Even experienced parents who have been through the college process before are trying to figure out the sequester's effects on financial aid, but for those parents who are sending their first child to college, the process can be overwhelming...The federal financial aid process starts with the FAFSA (Free Application for Federal Student Aid). Although this might appear to be a complicated form at first glance the Federal Student Aid website offers a great deal of insights and suggestions, as well as contact information. Many states also use the FAFSA to calculate their financial aid awards. Most states also have at least one financial aid or grant program available to residents. Private, corporate or civic scholarships can help reduce the amount due even more. Most of this information is summarized in the financial aid award letter, but this has also proven to be a point of confusion. In response, various organizations are trying to develop a "shopping sheet" that will standardize information and allow for easier comparison. Three templates for these shopping sheets have been developed so far -- one by The National Association of Student Financial Aid Administrators, one by the Education Department, and another that is a combination of the two."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 5/8/2013