| The Money Maze |
The Fall 1999 issue of the Beyond High School (BHS) newsletter is dedicated to finding money for college, The Money Maze. The bad news about college costs is all too evident today. Grants and scholarships are hard to find, Student loans are now 60% of available financial aid and student borrowing is at an all-time high. As we enter the new millenium, it is not surprising that students and parents are anxious to know where the money for college can be found and what their chances are to receive funding.
There is also good news. The increases in college costs have slowed to around 5% per year. Federal grant maximums have been increased. New tuition tax credits are providing relief for middle-class families. Federal loan interest is again deductible and the rates have been lowered. Private scholarship programs are on the rise again and high-profile gifts from Bill Gates and other should bring even greater support for students.
This issue of BHS offers a step-by-step review of the 'Money Maze.' Material has been specially prepared for BHS based on the eleven-year old 'Money Maze' workshop program, sponsored by American Express Financial Advisors and presented by the nonprofit College Planning Network (CPN). Some of this material is rarely shared with high school families. Tips on completing the Free Application for Federal Student Aid (FAFSA) can help you avoid critical errors. Advice on preparing Special Circumstances Letters can result in a financial aid package that truly meets YOUR need.
It is possible to receive adequate financial aid for college but only if you clearly understand the process. The goal with this issue of BHS is provide you with information and tools to successfully navigate the Money Maze.
Advice and Support
A wide variety of support services are available to students and families as the seek college funding. High school counselors and college financial aid officers provide front-line support. Through a toll-free call, (1-800-4FEDAID), the U.S. Department of Education provides direct access to experts who can help. CPN, publisher of the BHS newsletter is always willing to assist families and can be reached at (206)-323-0624 or seacpn@collegeplan.org.