Aim a little low. Have your student apply to schools for which he or she is slightly overqualified (and tell the kibitzers to stuff it). “I think more is made of the prestige factor than should be,” says Richard DiFeliciantonio, vice-president for enrollment at Ursinus College. “There are a lot of good schools out there.”
Cover your bases. A big state school may use a different system for awarding its money than a small private school, and a highly competitive college will likely have a different approach than a middle-tier school. The more types of schools your student applies to, the better shot you have at a break on tuition.
File the forms. Even if you think you won’t qualify for aid, file the Free Application for Federal Student Aid (FAFSA), which makes you eligible for federal grants and loans, and whatever applications the college requires for aid. Says DiFeliciantonio: “If you apply for financial aid here, we’re going to pay attention. Very few students get nothing.”
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Appeal the decision. Let the financial-aid office know if your circumstances have changed -- say, because of a job loss since you submitted your application. Last year, Ursinus received 200 appeals and responded favorably to half of them. Mention the competition.
If the school’s archrival offered your student more money, tactfully bring up the competing award, says DiFeliciantonio. “We cannot match every college’s offer, but we take very seriously offers from colleges that are comparable to us.”
-
Amazon Ends Free Shipping Benefit Sharing with Non-Household MembersStarting October 1, Prime members will no longer be able to share shipping perks with those outside their household.
-
Big Tech Names Rise Above Broad Weakness: Stock Market TodaySome familiar names enjoyed solid rallies on the resolution of outstanding questions, but macro uncertainty hangs over the broader market.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
How Intrafamily Loans Can Bridge the Education Funding GapTo avoid triggering federal gift taxes, a family member can lend a student money for education at IRS-set interest rates. Here's what to keep in mind.
-
How an Irrevocable Trust Could Pay for EducationAn education trust can be set up for one person or multiple people, and the trust maker decides how the money should be used and at what age.
-
UTMA: A Flexible Alternative for Education Expenses and MoreThis custodial account can be used to pay for anything once the beneficiary is considered an adult in their state. There are some considerations, though.
-
Coverdell Education Savings Accounts: A Deep DiveWhile there are some limitations on income and contributions, as well as other restrictions, a Coverdell can be a bit more flexible than a 529 plan.
-
529 Plans: A Powerful Way to Tackle Rising Education CostsContributions to 529 plans grow tax-free and are not taxed when they are used to pay for qualified educational expenses for the beneficiary.
-
Roth IRA Contribution Limits for 2025Roth IRAs Roth IRAs allow you to fund your retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2025 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
