FAQ: What is self-help financial aid?

Student in front of college asking What is self-help financial aid?

Post-it note asking What is self-help financial aid?Self-help financial aid is aid that the student earns through work or is required to pay back. Student loans and work-study are both self-help aid. Many colleges build their financial aid award starting with self-help aid.

Problems can occur when the institution doesn’t meet the student’s full-financial need, often referred to as “gapping.”

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FAQ: What is the difference between an honors college and an honors program?

Student in front of college asking What is the difference between an honors college and an honors program?

Post-it Note asking What is the difference between an honors college and an honors program?An honors college is more likely to exist in large research university setting with many other existing colleges such as engineering, business, agricultural, natural sciences, etc. Honors programs tend to be at smaller institutions that don’t have college divisions or only two or three such colleges.

Many honors colleges evolved from university honors programs. Becoming an honors college is important in terms of structure and funding at universities.

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FAQ: I won’t qualify for financial aid, why should I fill out the FAFSA?

Student in front of college asking I won’t qualify for financial aid, why should I fill out the FAFSA?

Post it note asking I won’t qualify for financial aid, why should I fill out the FAFSA?Even if you think your parents make too much money to qualify for financial aid, you should still fill out the FAFSA. There are certain loans that don’t rely on income such as the unsubsidized Direct Loan and the PLUS loans for parents. And depending on the school, you may qualify for work-study jobs.

Some colleges will not provide scholarship money without the FAFSA and it can also make you eligible for some state aid.

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FAQ: Does home equity affect financial aid?

student standing in front of college asking Does home equity affect financial aid?

Posit note asking Does home equity affect financial aid?It depends on which colleges you apply to. If you apply to colleges that use the FAFSA only for calculating financial aid, equity in your primary home is not considered.  However, if you apply to schools that use the CSS/Financial Aid PROFILE, home equity is likely to be considered.

Since each school decides if they use home equity in their methodology and how much to consider, how much home equity will affect financial aid will vary by institution.

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FAQ: How important are extracurricular activities in college admissions?

student in front of college asking How important are extracurricular activities in college admissions?

Post-it note asking how important are extracurricular activities in college admissions?Extracurricular activities are important as a secondary factor in the college admission process.  According to a survey by  the National Association for College Admission Counseling, Grades in College Prep Course,  Strength of Curriculum, Tests Scores, and Grades in all Sources are more important in the admission decision than Extracurricular activities.

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FAQ: What is financial aid gapping?

Student in front of college asking What is financial aid gapping?

Post-it note asking What is financial aid gapping?A financial aid gap occurs when a college’s financial aid award for a student doesn’t meet the student’s financial need as defined by the college. This unmet need is referred to as the gap.

Gapping became a verb as some colleges have earned a reputation for failing to meet student need, especially students admitted with qualifications placing them in the middle to bottom of the class. Students in the bottom quarter of a class in terms of qualification are always at risk of being gapped with the exception of the most competitive institutions that meet 100% of need.

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FAQ: Do I Need to Take Both the SAT and ACT?

A woman stands on a college campus pathway next to a building. A sticky note graphic reads, "College FAQ: Should you take both the SAT and ACT?

Post-it note asking if you need to take both the SAT and ACTNo. All four-year colleges accept both tests. Both the SAT and ACT provide concordance tables to “translate” scores from one test to another.

However, there are reasons why you might want to take both the SAT and ACT. Even with the proposed changes to the SAT in 2016, the tests will not be the same. Therefore, if you do poorly on one, you might do better on the other.

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