Safe Ways for Grandparents to Help With College Costs

It’s always wonderful when grandparents volunteer to help with college costs.

Grandparents, however, have to be careful about how they pitch in if their grandchildren have a shot at receiving need-based financial aid.

If your family is too affluent to be eligible for need-based financial aid, it doesn’t matter how grandparents save for college or how they help pay the tab.

Why You Should File the FAFSA

Most parents with college-age children should complete the Free Application for Federal Student Aid, but many families never bother.

According to the U.S. Department of Education, less than 55% of families with high school seniors submit the FAFSA. That’s a low statistic when you consider how important this document is to millions of Americans. Low and middle-income students, for instance, have a 25% to 30% greater chance of enrolling in college if they file the FAFSA.

Are You Too Wealthy to Qualify for Financial Aid?

“My family makes too much to qualify for financial aid.” Lots of parents believe this statement, but plenty of them are wrong. In reality, many families qualify for some sort of financial aid. This financial aid myth is a stubborn one because parents don’t understand how financial aid needs are determined.

Discovering Your Expected Family Contribution

How much will you have to pay for college? The answer will depend heavily on your Expected Family Contribution. If you missed it, our last post explained what an EFC is and why it’s important to know what yours is.