Mark Cruver - Financial Aid Questions That Parents Should Ask

As an independent educational consultant (IEC), Mark Cruver gets to interact with families and students looking to make college selection and application decisions. Through experience, he’s been able to identify some of the areas in which parents need to ask as many questions about, if only to better understand and make informed decisions. One of these areas regards finances, which is an important aspect that students and parents should aim to fully understand.

The following questions touch on some of the important aspects of financial aid.

Can I get additional aid?

This is one question financial aid officers wish more parents would ask. An officer might have about 5,000 applications for admissions, and they’ll only accept 2,500 and possibly enroll half of that number. There will always be cancellations for students who decide not to enroll at certain schools, and in some cases, it might open up the possibility of the financial aid officer going back and awarding more money. In many cases, they assume the family (or student) is okay with their award.

There’s no harm in asking people.

What happens should my financial situation change during my child’s time in school?

You should remember that the financial commitment for not just the first year, but a couple or three years afterward. It’s always good to find out how the university will assist should circumstances changes, like if a parent loses a job.

Some schools can do little in such situations while others may provide an appeals period to re-evaluate the financial aid.

Should my tax returns need to be in order before applying for aid?

Your tax submissions shouldn’t hold you back from filling out the Free Application for Federal Student Aid forms. Many parents don’t understand that beginning in October 2016 it will be possible to file the FafSA three months earlier than previous years using tax information from the prior-prior year.

How long will it take for my child to graduate?

For obvious reasons, the shorter the period, the less money it will cost. In many cases, students can maximize their summers between the school year to take classes to meet general education requirements. The most important thing to remember to graduate on time is to have a plan from the beginning.

Does my child’s financial aid change after the first year?

You are encouraged to read every line of the financial aid award and ask, "What is expected to change? What is going to stay the same?" If a school offers your child a scholarship, find out what is required in order to keep it.

Mark Cruver is the founder of Capstone Educational Consultants, which serves families in Georgia in their journey to college.

To Learn More About Mark Cruver Visit At : https://about.me/markcruver

• About the Author

  In his high school years, Mark Cruver used to play the trumpet (he doesn’t anymore). He finds satisfaction in writing and assisting other people to learn how to write well.

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