Want College Financial Aid? Apply Early!

Here's a tip from Kiplinger's that says if you want college financial aid to be sure and apply early. Their thoughts:

A college's free money runs out fast, says Deborah Fox, the college financial planner who advised the Shermans. "Certain schools do award aid on a first-come, first-served basis." If your Form W-2 has yet to arrive, estimate your tax information and correct it later. Many colleges also require that you fill out their own application for financial aid and each one has its own deadline -- "some in January, some in February," says Rick Darvis, of College Funding Inc., in Plentywood, Mont.

Seems like in this case, the early bird does get the worm!

Paying and saving for college has been a big issue on my mind recently. We've taken the steps of setting our college savings number as well as opened up two 529 accounts, but we're also on the lookout for money saving tips like this one. If you'd like some examples of ideas, see these posts:

• College for Half-Price

• How to Save on College Textbooks

• Save 50% on Education Expenses

• Save Big Money by Getting Good Grades in College

• Save on College Courses

• Save on College by Studying Abroad

Comments

[English Major]

While it may be true that applying earlier than the regular deadline for the regular deadline can make you more likely to get financial aid money, please note that this is not the same thing as "applying early"--that is, applying for the Early Application deadline, usually in October or November. Because early application is binding, the college tends to give out lower aid packages, since students can't opt out after receiving an (provably) grossly inadequate.

[English Major]

Excuse me, the last bit there got garbled. That should have read: students can't opt out after receiving an inadequate aid package unless it's (provably) grossly inadequate.