What are some strategies families can use to help their chances of getting aid?
Since a family’s assets are evaluated the moment the financial-aid form is submitted, any large expenses you expect to incur in the future, like buying a computer or a car, should be taken in that base year in order to reduce your assets. Another strategy is to defer income from that base year. That means delaying a yearend bonus, avoiding cashing in a savings bond, or if you have highly variable income, making sure the base year is not a high-income year. Q: What is the biggest mistake students make when they consider the cost of a college? A: People often look at the sticker price, then decide not to apply. Many families rule out a school because they underestimate the financial aid they’ll receive. That’s a mistake because they don’t realize how the FAFSA financial-aid forms work. FAFSA helps calculate the expected family contribution for the overall college cost. The more expensive the college, the more likely you’ll qualify for a larger financial-aid package. Say, for example, you
