As increasing college costs put more stress on family resources, the topic of financial aid can be a decisive factor in the college search for many families. The College Office strongly encourages students to honestly and openly discuss with their family the role of financial assistance in the college selection process. While we believe that the total cost of college should not be the primary factor which shapes the college search, availability of financial aid frequently plays a critical role in the final decision about which college a student attends.

There are two basic types of financial aid. One is merit based (academic or other talents) and the other is need-based, requiring a family to submit financial documentation which establishes their eligibility for aid. A third party, the College Scholarship Service (CSS), serves as an impartial agent in assessing eligibility.

Merit Aid Merit aid – for academic and/or other special talents – can come from a variety of sources. These include college-sponsored scholarship programs, corporate or non-profit scholarships, government sponsored scholarships (military academies, state scholarships), and/or multicultural scholarships. For more information, please review the scholarship section on our web site for further details.

Need-based Financial Aid This is the most common form of financial assistance. Need-based financial aid packages include combinations of federal, state and/or institution-based loans, grants and work-study programs.

Parents who wish to consult a certified college planner may access a list of planners and additional information on planning for college costs at the website of the National Institute of Certified College Planners (NICCP) .

Every family considering need-based aid should determine their approximate eligibility by completing the means test offered by the College Board. We also encourage families to use the link to Finaid.org for a Need Analysis, Financial Aid Estimation Form. This will provide you with an Estimated Family Contribution (EFC) for college. Knowing what your EFC is, you can then begin to look at grant and/or loan options for paying college costs.

All families considering financial aid must complete federal financial aid applications as well as the CSS profile form (overseen by the College Board) and institutional applications. Important resources include:

The Timetable For Applying For Aid Families should begin to explore financial aid and scholarship opportunities as early as the summer before senior year. CSS profile forms should be completed in the fall of senior year; the federal applications are due in the winter. Students and families should carefully read each CCO monthly newsletter and the financial aid sections in the CCO library for more detailed information. To stay on top of your financial aid efforts, we suggest families use the National Association of Student Financial Aid Administrators' (NASFAA) financial aid application checklist - found at www.nasfaa.org/home.asp. Families may find this checklist helpful during the college years as well.

Once students receive their decision letters and financial aid packages in March and April of their senior year, we recommend that students, parents and guardians use the NASFAA site to help them compare costs of colleges and financial aid packages. On the NASFAA home page, click on Financial Aid Night in the menu on the lower left. Then scroll down to Cost of Attendance Comparison Worksheet and Award Package Comparison Worksheet.

The College Office encourages parents and guardians to discuss financing higher education with their children in order to assure that college planning will reflect family circumstances and will promote the search for any and all means of supporting our students' aspirations. Please contact the College Office if you have any questions regarding financing your child's college education.