How do we pay for college?

At this point, many students are wrapping up their college applications (and if that’s not the case for you, don’t panic! There’s still time to apply for college!). The next step for many students and families is figuring out how to pay for college and applying for financial aid. It can be an overwhelming process, but there are a few key things to know.

• Check each college’s financial aid website to see what exactly is required to have a complete financial aid application. All colleges will require the FAFSA form, some will require the CSS profile, and some may require an additional college-specific form. You’ll also want to check the financial aid application deadline. Many schools have a deadline of February 15, but some schools vary.

• What is the FAFSA? Every college or university requires the FAFSA form (Free Application for Federal Student Aid) to be submitted in order to award any type of need-based aid. Need-based aid is based on your answers about your family’s income, assets, number of students already in college, and several other factors. Parents will be able to answer these questions on the FAFSA using their tax return. The FAFSA is available starting January 1, so families can fill it out now!

• What is the CSSProfile? Some schools (but not all) require the CSS Profile (College Scholarship Service Profile), which can be found on the CollegeBoard website. This profile asks for more specific information than the FAFSA. If you applied early action to any schools, they may have already required you to submit the CSS Profile.

• Parents will often ask how they can fill out the FAFSA if their taxes aren’t done yet this year. Financial aid advisors recommend that you fill it out as best as you can using last year’s tax return, or using estimates, and then log back in to update it once the new tax return comes through.

Resources: There are a number of resources out there regarding financial aid. Two very good ones are MEFA.org, and FAFSAday.org.   

• MEFA is the Massachusetts Educational Financing Authority, which walks families through all the ins and outs of applying for financial aid, comparing financial aid packages, and even applying for educational loans.  

• FAFSA Day is on January 25 at 1:00pm this year. It's a "non-profit, volunteer driven program providing free assistance to students and families seeking to complete the FAFSA." Students and parents can bring their financial information and get help filling out the FAFSA right then and there. It's conveniently located right across the street at BVT.

• Where?     Blackstone Valley Tech

65 Pleasant St

Upton, MA 01568

• When? January 25, 2015 at 1:00 PM
• Site Coordinator(s):
• Elizabeth Hennessy, 508 529-7758 x3009
• Kurtis Johnson, 508-529-7758 x3152