It's that time of year, students are furiously studying for the SATs and/or the ACTs (if you're not, you should be!). Not only are these scores important in getting noticed in the admissions office and getting in at the colleges, they become even more critical when it comes to deciding how much money you get in the financial aid office.

Although grades and classes carry the most weight in the admissions office, standardized test scores, in the form of either the SAT or the ACT, are also important. However, once you're admitted and the financial aid office is determining your financial aid package, your SAT or ACT score takes on a much greater significance.

They would rather give more aid to the better student for a couple of reasons. One may be because the probability is higher that a better student will be around for all 4 years (collecting tuition from a family for four years is better than just one or two years if the student doesn't cut it and leaves). Another reason is the better student's grades and SAT scores help the college look better - as in more selective - in the "college ranking" game. (Parents, before you go complaining how "unfair" that sounds, if you're helping your student select colleges based on name recognition, you're part of the reason the colleges are playing this game).

To see this in action, let's say we have two students, Sarah and Jamie. Both girls' families, according to the financial aid formulas expected to pay $5,000. That's the minimum amount the schools and the federal government are expecting the families to contribute to their students' college educations. (It's called the Expected Family Contribution or EFC.) Both girls are applying to the same public university.

Sarah is a borderline admit at this particular school (not at all of the schools on her list, but at THIS particular school). Her grades and SAT scores put her in the lower 40% of students admitted to the college. Her scores are just good enough to allow her to be admitted, but the school decides not to award a lot of financial aid to Sarah because of her stats.

Jamie, on the other hand, is above the norm, at this particular school, in terms of the typical student at this particular school. Her grades and SAT scores put her in the upper reaches of admitted students.

The cost of attendance at this particular college is $20,000 and both Jamie and Sarah's families, according to the financial aid formulas, have an expected family contribution of $5000. They both have a financial aid need of $15,000. Here's how the two girls' financial aid offers ultimately stack up:

Sarah's financial aid award is a $3500 student loan. That leaves the family with an unmet need of $11,500. If they want Sarah to attend this particular school, the family will have to pay $16,500.

Jamie's financial aid award, on the other hand, is a $3500 student loan AND a $6500 need-based scholarship, leaving Jamie's family with an unmet need of $5000. If they want Jamie to attend this particular school, the family will have to pay $10,000.

Both of these programs are attainable, but you must apply for each program independently in order to see if you qualify for either grant for college. The choice is yours. Both of these are available today

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It's that time of year, students are furiously studying for the SATs and/or the ACTs (if you're not, you should be!). Not only are these scores important in getting noticed in the admissions office and getting in at the colleges, they become even more critical when it comes to deciding how much money you get in the financial aid office.

Although grades and classes carry the most weight in the admissions office, standardized test scores, in the form of either the SAT or the ACT, are also important. However, once you're admitted and the financial aid office is determining your financial aid package, your SAT or ACT score takes on a much greater significance.

They would rather give more aid to the better student for a couple of reasons. One may be because the probability is higher that a better student will be around for all 4 years (collecting tuition from a family for four years is better than just one or two years if the student doesn't cut it and leaves). Another reason is the better student's grades and SAT scores help the college look better - as in more selective - in the "college ranking" game. (Parents, before you go complaining how "unfair" that sounds, if you're helping your student select colleges based on name recognition, you're part of the reason the colleges are playing this game).

To see this in action, let's say we have two students, Sarah and Jamie. Both girls' families, according to the financial aid formulas expected to pay $5,000. That's the minimum amount the schools and the federal government are expecting the families to contribute to their students' college educations. (It's called the Expected Family Contribution or EFC.) Both girls are applying to the same public university.

Sarah is a borderline admit at this particular school (not at all of the schools on her list, but at THIS particular school). Her grades and SAT scores put her in the lower 40% of students admitted to the college. Her scores are just good enough to allow her to be admitted, but the school decides not to award a lot of financial aid to Sarah because of her stats.

Jamie, on the other hand, is above the norm, at this particular school, in terms of the typical student at this particular school. Her grades and SAT scores put her in the upper reaches of admitted students.

The cost of attendance at this particular college is $20,000 and both Jamie and Sarah's families, according to the financial aid formulas, have an expected family contribution of $5000. They both have a financial aid need of $15,000. Here's how the two girls' financial aid offers ultimately stack up:

Sarah's financial aid award is a $3500 student loan. That leaves the family with an unmet need of $11,500. If they want Sarah to attend this particular school, the family will have to pay $16,500.

Jamie's financial aid award, on the other hand, is a $3500 student loan AND a $6500 need-based scholarship, leaving Jamie's family with an unmet need of $5000. If they want Jamie to attend this particular school, the family will have to pay $10,000.

Both of these programs are attainable, but you must apply for each program independently in order to see if you qualify for either grant for college. The choice is yours. Both of these are available today

Signature***********************
No cost, low interest rate Mortgage refinancing
Faq and Advice mortgage refinance
Advertise real estate land and commercial property

Tags: financial aid, mortgage refinance, mortgage refinancing, real estate land