4 Legal Ways to Get More Financial Aid for College

If you think that early classes or tests are the worst things about college, you should think again. Don’t you forget your college debt? Paying it off for decades after receiving a degree is a real nightmare. That’s why you may want to consider the following ways to get more financial aid for college, which are often overlooked:

Tips to Get More Financial Aid for College

• Get an education savings account. It will change the way how the system calculates the amount of aid you can receive. The biggest problem with the need-based aid is that the methodology doesn’t take into account the non-education expenses of a family. Thus, the classic formula which calculates the Expected Family Contribution ignores the parents’ need to save for their retirement plan as well as the need to save for other child’s education. However, this formula would be different and you can squeeze more money if you use a savings account.
• Start applying for financial aid early. Did you know you could get scholarships and grants as a freshman in high school? If you start saving that money, you can have a substantial amount of money, by the moment when you need to pay for college. Even if you decide to apply the same year as the college starts, filing in the FAFSA earlier is a good idea, too. The truth is that early in the year, the programs can have more money to give out. It can be your advantage.
• Pay all your bills first. The form asks about the amount of cash you have at the moment, but no questions are asked concerning the debts and loans you have to pay. That’s why it can be reasonable to pay the debts and then apply for the aid. It will help you receive more aid.
• Maximize merit aid. There are ways to receive money disregarding the family’s income, based on a student’s grades or other achievements.

This is some legal ways to get more financial aid for college you should know. Improve your chances to get into that dream college without decades of debt.

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