College is an expensive and sometime overpaid experience. Don’t let the sheer magnitude scare you. Do your research, read these facts and study up on how to avoid where possible overpaying for your tuition.
Reason #1: You submitted the FAFSA too late.
Typically, the financial aid budget for institutional, state, and federal funds is awarded on a first-come, first-serve basis until the funds run out. Take note of deadlines and specifications to your college.
Reason #2: You don’t understand the college authority.
To avoid overpaying, you need to be aware of the college’s policy and procedures for offering scholarships and distributing financial aid. Maximize your package and get savvy.
Reason #3: You don’t have a plan for applying early
Submit your top priority applications by Oct 1st to receive preferred treatment for admission acceptances and scholarships.
Reason #4: You don’t have a strategy for submitting applications and leveraging scholarships
Come up with a strategic plan to apply to 8-12 “target” schools with a few “reach” and “safety” schools mixed in. This leaves room for quality options.
Reason #5: You don’t try to negotiate costs
You are a buyer of education, use your knowledge and the internet! There are useful tools to help you find educational services that offer you good value. What you pay is negotiable. Pursue this in a timely manner otherwise you will not end up with what you want.
Reason #6: You remain unknown to the college before you submit your application
Becoming well-known to colleges is pivotal if you want to maximize your financial award, which is a decision made by humans.
Reason #7: You can’t just randomly hit the submit button
Make it personal. Give them more value to work with.
Reason #8: You picked the wrong college
Do not use urgency as an excuse. Rather than being proactive to what’s important you take your time. You wouldn’t do this when buying a house or car so why start now?