Analyzing and comparing aid packages

Paying for College
1

<p>There is a nice article on this topic in today’s Washington Post: [Tools</a> to help the college-bound compare financial aid offers - The Washington Post](<a href=“http://www.washingtonpost.com/business/economy/tools-to-help-the-college-bound-compare-financial-aid-offers/2011/03/30/AFQxKj5B_story.html]Tools”>http://www.washingtonpost.com/business/economy/tools-to-help-the-college-bound-compare-financial-aid-offers/2011/03/30/AFQxKj5B_story.html)</p>

<p>If you just want to cut to the chase, use the calculator at: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“http://www.finaid.org/calculators/awardletter.phtml]FinAid”>http://www.finaid.org/calculators/awardletter.phtml)</p>

<p>I’ve printed out the longer discussion on how to analyze the letters and use the calculators to read at leisure, far away from the computer screen:
<a href=“http://www.finaid.org/fafsa/FinancialAidAwardLetters.pdf[/url]”>http://www.finaid.org/fafsa/FinancialAidAwardLetters.pdf&lt;/a&gt;&lt;/p&gt;

2

<p>I hate that they use the word “award”…unless the aid is all/most grants or scholarships. The thought that an “award” could be largely loans is just insulting. </p>

<p>When I bought my house, the home loan was not called an “award.”</p>

3

<p>I just compare the bottom line figure that has to be paid whether it is through loans, check, or work study. If someone in the family has to pay it sooner or later, it costs. I adjust those cost by adding transportation or anything else that a given school would have for its particular costs.</p>

4

<p>Thank You happymom! After a while the numbers begin to blur together…</p>