Finance Globe

U.S. financial and economic topics from several finance writers.
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3 Questions to Ask a Financial Aid Officer

As you compare many colleges and universities, hoping to find the right one, there will be questions on your mind. Like most, you may be focused largely on the cost of the school.

Fortunately, every school has a team of financial aid professionals who are more than willing to provide you with answers to all your questions. Along with this, they can give you the information you need to make an informed and confident decision.

Here are three questions to ask a financial aid officer:

1. Can you provide detailed information on the overall cost of your school? This includes everything from tuition to room and board to fees. You want to know exactly how much money you will be charged every semester. Don’t leave any expense out of the equation, as this could come back to bite you in the end.

2. What type of financial aid do I qualify for? Let’s face it: this is a question you need to answer before choosing a school. Once you know the total cost per semester, you can begin to determine how you will pay for your education.

There is nothing better than free money, such as grants and scholarships, however, there are other options that your financial aid officer can discuss. Are you open to student loans? How about work study?

3. Can my financial aid situation change in the future? The short answer to this question is yes, but you want your financial aid officer to explain how and when this may happen. For example, if your parents begin to earn more money down the road, this could impact how much federal assistance you receive. Along with this, your scholarship money could be taken away if your grades slip.

These are just three of the many questions you should ask a financial aid officer. If any others come to mind, no matter what they may be, don’t shy away from asking. This person’s job is to make your life easier.
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Monday, 26 July 2021

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