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March 2004

Don Bishop, Creighton University

Question: Does it matter whether I take the SAT or ACT?

Make sure you have reviewed the SAT and ACT policies of the schools you have chosen to apply to. They typically will be on their admissions website and you can also call and talk to a counselor in the admission office. MORE>


		Question: Why do some schools require the CSS Profile or their own financial statements? Why doesn’t the FAFSA take care of what they need to put together a financial aid package? Answer: Many colleges and universities want to explore every aspect of a family’s financial situation so that they can make their school as affordable as possible. MORE>



		Bob Leggett ’62, Millsaps College Careers: Private Investor, Information Technology Specialist, Choir Director Volunteer Work: Scoutmaster, Several Boards of Directors MORE>


	SAT I & II: May 1 Registration - March 25 SAT I & II: June 5 Registration - April 29 MORE> ACT: April 3 Late registration - March 12 ACT: June 12 Registration - May 7 MORE>


		EFC (Effective Family Contribution) An EFC is something that is calculated from information that is provided on the FAFSA (the Free Application for Federal Student Aid). The numbers next to the EFC corresponds to an amount that the family (according to the FAFSA) can pay for their child’s education. MORE>

Getting the Edge:
Financing Your College Education

Aside from the purchase of a home, financing a college education can be one of the most daunting tasks any family will consider. While some families have planned for the future, many other families find saving for college a real strain on the family budget and often fail to adequately save for their child's education. With this in mind, many families find that there are three ways to finance a college education edge -- before, during and after enrollment.

While it is difficult to save for a college education, it is no less necessary and prudent for a family to do as much as they can well before college ever starts. There are a variety of different financial tools and options that will allow families to save for a college education. Taking the long term view, most families will benefit from the sacrifice involved. Contacting a financial advisor to consider different options is a great first step.

In-School Options
Most families, however, pay for college and think about paying for college while the student is enrolled. Clearly there are many financial aid resources available to the future college student. Typically most colleges offer academic merit scholarships, institutional grants, state and federal grants, and college work-study. Each of these resources are used during the time a student is enrolled in college.

The First Step
To apply for most of these resources, a family will need to complete the Free Application for Federal Student Assistance or FAFSA to qualify. Some of the more selective schools will also require the College Scholarship Service Profile in addition. Merit scholarship application usually requires an institutional application. Typically the FAFSA and the Profile are available from the high school guidance office or from the colleges themselves.

Most families would be wise to complete the need-based process even if they don't think they will qualify for need-based sources. Every family circumstance is unique and it is often helpful for financial aid professionals to assess a family's options.

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			Gonzaga University Gonzaga University strives to produce exactly what society needs—intelligent, articulate individuals with a strong sense of morality. MORE>

			Illinois Wesleyan University With impressive new facilities like The Ames Library and innovative academic programs like the May Term, Illinois Wesleyan has emerged over the last decade as a first-rate nationally acclaimed university. MORE>

			Mary Washington College Mary Washington College offers a vibrant student driven learning environment with the affordability of a public institution and the personal attention and opportunities typically found at private colleges. MORE>

			Drake University Drake will surprise you. Through cultivating the scholarly mind to actively engaging that mind in service and leadership, Drake is a place of opportunity and growth. MORE>

			Wells College Wells is an intriguing combination of individual learning and community involvement. Just as each woman is responsible for her growth, so the community reaches out to uplift and encourage each student. MORE>

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