A Message From The President of ECP.
College is no longer optional—at least that’s my opinion.
Regardless of your future profession higher education is critical. The advancements in technology and the advancements of civilization require that we learn more—faster than ever before.
But at what cost? With higher end private school costing $70,000 per year, how does a family budget? It is not easy. College tuition is the single largest hindrance between most adults and their retirement. It doesn’t have to be that way.
College costs as much as most people’s houses, but a house you can finance over 30 years—a college education you cannot.
Elite Collegiate Planning was created to solve a dire problem in our society and our system, a very expensive system. In the words of Derek Bok, If you think education is expensive, try ignorance.
The problem: How do you afford and perpetuate “The American Dream.”
As parents we want the best for our children—and there is no more cruel feeling than not being able to provide it.
What is the FAFSA?
The Free Application for Federal Student Aid (FAFSA) is a form completed by prospective and current college students to determine their eligibility for financial aid. Students must complete the FAFSA if they wish to receive need based and merit based aid.
What is the CSS Profile?
The College Scholarship Search Profile (CSS Profile) is a form used in addition to the FAFSA by select schools to determine a student’s eligibility for aid. The CSS Profile is administered by the CollegeBoard and asks more detailed questions about the student and the student’s family’s financial situation.
Does my family make too much money to receive financial aid?
With colleges today costing upwards of $70,000 per year a family must make a substantial amount of money to not qualify for need based aid. All families should still go through the process of completing the FAFSA as there is potential their student could receive merit based aid, which has nothing to do with how much money your family makes.
What is EFC?
Expected Family Contribution (EFC) is the annual amount your family is expected to pay toward higher education as determined by the information provided on the FAFSA. Some of the factors that go in to determining your EFC are adjusted gross income, assets, and number of family members in college at any given time.
My parents are divorced. Do I list them both on my FAFSA?
No, you only list information about your custodial parent. A custodial parent is the parent with whom you lived more than 50% of the time that year. If that parent is remarried you must also list their spouse and include their information.
How do I apply for private scholarships?
Private scholarships can be found in a variety of places. The best place to find scholarships is at your high school’s guidance office. They may also be available through your parent’s workplace or organizations and clubs your family is a part of. Finally, students can conduct a free scholarship search by completing a short questionnaire at fastweb.com.
What is the difference between a direct subsidized loan and direct unsubsidized loan?
Direct subsidized loans are those that you do not pay interest on while you are enrolled (at least half time) in school. During that period the interest is paid by the Department of Education. With direct unsubsidized loans you are responsible for paying the interest, and those payments begin as soon as you take out the loan. You can choose to defer the interest payments until you finish school. Your interest will accrue and be added to the principal balance.
What schools should I consider if price is a main factor?
Most students and their families think they should look at cheaper schools if they are concerned about affording tuition. However, if cost is a deciding factor, you should find schools with large financial aid budgets. These schools have the most money to give to students and typically meet a higher percentage of need