How does a student qualify for financial aid?
An undergraduate student usually can qualify for some type of loan program. The first and most important step is to file the FAFSA (the Free Application for Federal Student Aid). This application is used as the basis for the computation for a students demonstrated financial need. This has to be filed as soon as possible after January 1st of the senior year high school. FAFSA (on-line) www.fafsa.ed.gov What can parents do to help their kids qualify for scholarships and loans? For scholarships, parents need to encourage their kids to be good scholars and involved in a wide range of activities. For loans, parents need to work with their financial planners and tax professionals to plan their family finances to best take advantage of loan programs. Also if the child has significant funds in his/her name, the assets need to be swapped into the parents names before December 31st of the Junior year to provide the financial picture best suited for financial aid. You need to consult your family
