Valuable insights from Lynn O’Shaughnessy
a nationally recognized college expert.
Financial aid
November 28, 2011
Will Saving for College Hurt Your Chances for Financial Aid?
Many families worry that their college savings accounts will kill their chances for financial aid. It’s been my experience that it’s usually dads who get stressed out about how colleges will treat their college accounts for financial aid purposes. Some fathers whom I’ve talked are down right bitter. They are especially incensed at the possibility that families that didn’t set...
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November 14, 2011
Qualifying for Financial Aid: How Wealthy is Too Wealthy?
Over the weekend my sister was telling me about a teenager, who is getting recruited by a couple of Ivy League schools to play softball. The parents are excited about the prospects of her daughter getting a sports scholarship to an Ivy League school. Does anybody out there know what’s wrong with this dream? The eight Ivy League schools don’t...
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November 9, 2011
Confusing Financial Aid Awards: Where’s the Money?
One of the frustrations of applying to college is the confusing nature of many financial aid awards. Even when a teenager has received a puny financial aid award, schools don’t necessarily want families to know this. Some parents will look at a misleading financial aid award and think their child has won scholarships to cover much of the cost of...
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November 8, 2011
Playing Hide and Seek With Net Price Calculators
Are colleges and universities playing hide and seek with their net price calculators? As I’ve mentioned in the previous posts below, net price calculators can be extremely valuable tools for families wondering what a specific college will cost their families. I don’t think anyone should be applying to schools unless they have used these college cost calculators in advance. College...
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October 25, 2011
Gambling on an Early Decision Application
I’m sharing an email that I received over the weekend from an anxious dad in North Carolina, who asked me for advice about an early decision application. I’ve changed the name of the son. Here is what he wrote: Dilemma from a Dad from North Carolina My son, Andrew, would like to go to Davidson College here in North Carolina;...
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October 19, 2011
Do All Admission Reps Know What They’re Talking About?
Is your university need blind? I once saw a couple of enthusiastic young admission reps from a pair of Catholic universities back East try to answer that question at a college conference. The reps were specifically asked whether their schools might reject some applicants if they required a lot of financial assistance. Both admission reps vigorously assured the counselor who...
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October 13, 2011
How To Determine Your EFC
In my last blog, I talked about why it’s important to know what your EFC or Expected Family Contribution is. Here is the post: What Is Your Expected Family Contribution? Today, I’m going to show you how you can get a preliminary EFC, which is not as tough as you might assume. You just need to use an online EFC...
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October 12, 2011
What is Your Expected Family Contribution?
What is Your Expected Family Contribution? Do you know what the term Expected Family Contribution or EFC means? Most of you probably don’t so I’m devoting the next couple of college blog posts to explaining what an Expected Family Contribution or EFC is and why it’s so important. If you file for financial aid through the Free Application for Federal...
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October 6, 2011
How Does Financial Aid Work When You’re Divorced?
Filing for financial aid can be more complicated when the parents are divorce. A Divorced Dad From Massachusetts I thought I’d bring this up because of an email that I received from a divorced dad from Massachusetts, who has not remarried. He makes about $100,000 a year and doesn’t own a home. His ex-wife did remarry and she and her...
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September 29, 2011
Don’t Believe These 4 Financial Aid Myths
4 Stubborn Financial Aid Myths I think that many of the misconceptions that people possess about the college process revolve around financial aid. With the college admission season about to head into high gear, today I want to share the four financial aid myths that are probably the most common. Myth No. 1: I make too much money to qualify...
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