- Do colleges provide the amount of the tuition you’re responsible for when they send out the acceptance? They’ll already have the CSS profile by then.
your financial aid award will come shortly after your acceptance in most cases. The exception is early action where some schools just send those awards at the same time as regular decision ones. And regarding tuition…sometimes the costs for the upcoming year aren’t set until summer. So you might not know your exact net costs…
- When you accept admission do you immediately pay a down payment?
once you make a matriculation decision, you will be asked to pay an enrollment deposit. Nothing is expected of you before that.
- When do they expect payment for the semester? August?
this varies by college. We typically got our bills to be paid by early august for the first term
- If I’m using a 529 plan am I able to send funds directly from the 529 account to the college?
you will need to check your plan, but usually, yes.
- Are there any significant penalties if you make a mistake like sending the 529 funds to your checking account for example?
no…as long as you then use the money for the college costs.
- If I’ll be using a loan down the road after the 529 is exhausted, like a Parent Plus loan for example, when do you apply for those? Right after the prior semester ends?
I believe you apply for Plus Loans during the summer prior to the start of the fall term. Someone else will need to clarify…because we never used a Plus loan.
@kelsmom @BelknapPoint did I get this all right?