For college seniors, the end is near! Within another month, these seniors will become the class of 2024! Next thing you know, they’ll be cramming the car full of every last necessary item and heading off to their new home for the next four years. The college application and prep process is nearly over now, too! It’s been a long journey (as I’m sure many parents would agree) but it has been well worth the effort for most families. The finish line for the financial process is close, too.
To wrap up your financial aid journey, here’s a few things I recommend for the class of 2024…
Make sure the FAFSA has your 2023 tax info:
April 15 is almost here and you should definitely have completed your 2023 taxes by now. If you used estimated figures on your original FAFSA application, you must go back and ensure everything has been pulled properly for your FAFSA paperwork.
Supply all requested information:
If any of your financial applications were selected for verification, you must get all the supporting documentation to the school in a timely manner so they can make a final decision regarding your financial aid. This is important, especially on the crunched time tables this year.
Let the school know if your financial situation has changed dramatically:
Something may have happened since you submitted the FAFSA which could have an impact on your ability to pay college costs. If your parents got divorced, or if there was a job loss, medical emergency, or natural disaster, let the school know about it and they may be able to revise your financial aid package. It’s important that you have documentation about every change you’re sharing with the offices.
Review your financial aid offers one more time:
Take a few moments to look at the financial aid offer from your top-choice school one last time. Compare it to any other offers you have received and make sure it is reasonably similar. If there is a noticeable difference, contact the financial aid office and discuss your options. Here are more tips on comparing financial aid offers.
Keep searching for scholarships:
You should always be looking for scholarships to help take the bite out of college costs. There are many year-round and late-deadline scholarships that are still available. Remember, this is a process that will continue for every year that you’re in school!
Compare student loan options:
If everything else is in order and you know that you will definitely have to borrow some money to attend college, start comparing your student loan options now. The first path is to utilize federal student loans, but after that you will need to investigate private student loan options more closely. Review the differences between private and federal loans.
Congratulations! You’re that much closer to starting your college career! Once all of these tasks are done, the next thing to do is make a budget for your college days. Include food, textbooks, and extracurricular activities. Budgets are a great way to ensure that you don’t leave college with even more debt!
More about Jodi and College Financial Aid Advisors
Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.