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How To Pay For College
$ The Financial Game for The Pie $ | Presentation
Page 3 |
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The Family Who Was Left Out In The Cold
By Don Ze Carre |
| Income Of Parents & Students | $75,000 |
| Assets Of Parents & Students | $105,000 |
| # OF Family Members | 5 |
| Expected Family Contribution | ??? The Whole COA!* |
| Extra $ They Have To Pay | $$$ Thousands More?!! |
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| *Cost Of Attendence |
This family thought they made too much money so they didn't even apply--OUCH!
By not supplying any ingredients, they made their own pie, the "I Pay 100% Pie"!
Colleges are trying to make all of their aid dollars stretch. Even if the family makes over $100,000 they may still get some aid (if it is an expensive college). However colleges won't give any aid unless you first have filed the FAFSA and in some cases the FAP as well. Also don't forget that even a low interest loan is still a form of aid and you have to file the FAFSA, & maybe the FAP etc. before they will offer some of the low interest loans. |
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A Tale Of Two Applications
By Hertz Liktha Dickens
The FAFSA--Free Application for Federal Student Aid |
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| | Application A | Application B |
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| When Filed | January 1st | Feb, March, April, May? |
| How Filed | Complete & Correct | Information Missing
or Incorrect |
| Result | Application Accepted, SAR* will be sent in 4 to 6 weeks | Application Rejected, Need to Correct and Refile |
| Funding Status | Will Be Getting Free Money | May Lose Thousands of Dollars in Funding |
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| *Student Aid Report |
| On January 1st it is as if a starting gun has been fired and the race is on! There is only so much money and it is awarded on a first-come-first-served basis. |
| Not getting the form filed quickly and without errors can mean a loss of thousands of dollars, just as it did with the "Family Who Was Left Out In The Cold". |
| According to the Deptartment of Education, over 90% of the applications get filed with mistakes or inconsistencies, causing them to be "bumped". A social security number omitted, a male student who didn't register with the selective service etc. By the time you refile, it can be too late--the aid money may be all given out! |
| Please go to the next page, page 4, to see the blockbuster sequel: "A Tale Of Two Families" where Hertz Liktha Dickens cranks it up a notch! |
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© 2004 PGA Financial  all rights reserved. |