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Home > Consumer Focus Archive > Making the Grade: Financial Aid for College
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Consumer Focus: Making the Grade: Financial Aid for College
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Making the Grade: Financial Aid for College

Many parents and students are already looking for financial aid for college for the 2000-2001 academic year. With planning and careful research, applicants will successfully find financial aid available from many sources in a variety of types. Successful financial aid applicants generally tend to be well organized, thorough, prepared and careful. Unfortunately, with college costs continuing to climb, parents and students working to pay their tuition bills may find themselves unwittingly falling prey to scholarship and financial aid scams.

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College Is Possible

College is Possible is a good first stop when preparing for college, choosing the right school, and researching financial aid opportunities. This website helps dispel some of the myths about financial aid and gives an extensive resource list.

The College is Possible site includes tips for parents to prepare children for college, a listing of the best web sites and books on preparing for, choosing and paying for college, and a student aid glossary. Learn what to expect financially with their charts estimating costs for public and private schools and estimating student budgets for public and private schools.

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Federal Aid

The Student Financial Assistance Programs of the U.S. Department of Education are the largest source of student aid in America. They provide over $40 billion a year in grants, loans, and work-study assistance. This website gives you the lowdown on applying for federal student aid, allows you to apply for financial aid online, and more.

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For more information on other popular consumer issues check out our Consumer Focus Archive.

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Scholarships

The web site http://www.finaid.org/ offers helpful tips for those searching for scholarships. There are hundreds of scholarships available from a variety of sources every year. Generally, these scholarships are reserved for students with some sort of special qualifications, such as academic, athletic, an interest in particular field of study, etc. Finding scholarships from non-federal sources sometimes takes thorough and careful research.

The Federal Trade Commission has published some tips for parents and students to help prevent them from getting stung when trying to find money for college. The FTC advises consumers to look for the following tell-tale signs that a scholarship offer may be fraudulent.

  • "The scholarship is guaranteed or your money back."
  • "You can't get this information anywhere else."
  • "The scholarship will cost some money."
  • "I just need your credit card or bank account number to hold this scholarship."
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Other Resources

This is just a brief overview. For more information on the financial aid for college check out these resources from the World Wide Web:

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