INTRODUCTORY ADVICE ABOUT FINANCIAL AID (continued) What is your policy regarding outside scholarships? There are certain circumstances when need-based schools will deduct money earned in outside scholarships from your financial aid package. Some schools reduce your loan burden; other schools will reduce your grant money; and still others will take half from grant and half from loan. Obviously, reducing the loan would be more favorable to you! What is your policy with regard to non-custodial parents and step-parents ? Are they expected to contribute if financially able? If so, how do I obtain a non-custodial waiver, if necessary? Policies regarding non-custodial parents and step-parents can vary dramatically from school to school. Are there any tuition payment plans that will allow me and my parents to spread out our payments over a period of months? How much does it cost? (It’s not free!) Are there any other benefits for students on aid (i.e. winter coat fund, student events fund, computer loans, etc.)? Can I defer outside awards and/or split them over the four years? Make sure your list of colleges includes an economic Likely school — a school that meets your academic needs and is affordable. For many students this is a state college or university or a school at which the student could be a commuter. Do not use scholarship or financial aid search services that charge fees. Information about scholarships and financial aid is available at no cost in the College Office, at local libraries, from college financial aid officers, on the internet, and at the Higher Education Information Center at the Boston Public Library. Watch out for scams. There are many people out there hoping to capitalize on parents’ anxiety about paying for college. FastWeb.com is a superb, comprehensive, free website for finding merit scholarships. You may wish to make an appointment with a financial aid officer at one or two schools so that he or she can advise you on special programs, tuition plans, and loan or payment programs that might be beneficial to you. Some financial aid officers have more time to meet with parents in the summer and the fall. (In the spring they are swamped and may not have many appointment slots.) Prepare your questions ahead of time and take notes. There are very few U. S. schools that offer aid for international students. If you are an international student with need and if you wish to attend college in the United States, you will need to be flexible in your choice of colleges. The Massachusetts Educational Financing Authority (MEFA), a self-financing, not-for-profit state authority, is “dedicated to keeping college education affordable for families.” MEFA’s website, www.mefa.org, is an invaluable tool for navigating the financial aid process. Other states have similar organizations. You can find links to all of the websites referenced in this section (FAFSA, College Board, FastWeb) at www.mefa.org. Does your school offer pre-paid tuition plans and what are their benefits? What is needed to apply? CSS PROFILE? FAFSA? Institutional forms? TIPS
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