Don't be surprised if you're having difficulty with the financial aid process; the various government entities hope you give up so they can keep more of the available funds. Reach out to a professional consultant who has greater familiarity with the system and can maximize the dollars you and your child receive for their continuing education.
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Grand Rapids, Mich. (PRWEB) February 12, 2008
If you have a child who is applying for college, this is an exciting time for the both of you. More than likely it is also an extremely stressful time as you try to figure out how you're going to help your child pay for school. Fortunately, there is over 30 billion dollars available from the Federal Government, the states, colleges and universities, and private foundations and organizations. "What you need is help navigating the financial aid landscape. You are not alone," says Daniel Wansten, president and CEO of leading independent education consulting firm Professional Education Services. Wansten provides the following 10 common mistakes parents make when applying for college funding.
Mistake #1 - Most middle and upper-middle class parents assume they won't be eligible for financial aid because they own a home and make over $50,000 per year.
Mistake #2 - Focusing time and energy on a private scholarship search instead of spending time trying to qualify for "need-based' financial aid.
Mistake #3 - Assuming only minority students, athletes, and academically gifted students receive financial aid.
Mistake #4 - Picking colleges and universities without paying attention to where their child lies in comparison to the rest of the student body.
Mistake #5 - Assuming all schools are created equal and will be able to give the same amount of money.
Mistake #6 - Not understanding the difference between "included assets" and "un-included assets" for purposes of filling out financial aid forms.
Mistake #7 - Believing that it doesn't matter where they keep their money; it's all counted in the same way.
Mistake #8 - Their CPA or tax preparer is qualified to fill out financial aid forms - we'll let him/her do it.
Mistake #9 - Waiting until January, or even worse, after January, of their child's senior year of high school to start working on your college financial aid planning.
Mistake #10 - Going through the financial aid process by themselves because it is cheaper.
"It's no secret that college is expensive, but many students and their parents still fail to take advantage of the numerous financial aid opportunities available to them, and consequently, they end up having to take higher student loans," states Wansten. "Don't be surprised if you're having difficulty with the financial aid process; the various government entities hope you give up so they can keep more of the available funds. Reach out to a professional consultant who has greater familiarity with the system and can maximize the dollars you and your child receive for their continuing education."
About Daniel Wansten and Professional Education Services
Daniel J Wansten is the author of CASH FOR COLLEGE and Founder of Professional Education Services. P.E.S. is an independent education consulting firm providing expert financial aid advice to college-bound students and their families. Based in Grand Rapids, Michigan, Professional Education Services also offers life coach counseling to determine which college or university best matches each student's skill set. For more information, visit http://www.howtoaffordcollege.com.
Professional Education Services
PES @ proedserv.com
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