Module 1 of College Affordability Project: Welcome and Introduction-Sample College Money Report

Sample College Money Report

Pdf Summary

The NAPFA Foundation has provided Jane with a College Money Report™ to help her understand her out-of-pocket college costs, financial aid, and which schools will offer her the most money. The report suggests that Jane may qualify for a session with a financial planner to further explore her options. It is important to note that the award estimates in the report are not guaranteed and are subject to change based on various factors.<br /><br />The report introduces several terms related to financial aid, such as Cost of Attendance (COA) and Student Aid Index (SAI), and explains their significance in determining need-based financial aid and scholarships. It also highlights that different colleges use different SAI formulas, which will affect Jane's eligibility for need-based grants and merit-based scholarships.<br /><br />The report presents Jane with the net costs for her top three college choices, including Stanford University, Illinois State University, and the University of Michigan. It provides information on the estimated costs for the first year and the total costs for four years, factoring in financial aid and scholarships. The report also mentions that some colleges may offer a deeper discount if Jane has a sibling enrolled in college.<br /><br />Additionally, the report lists the most affordable colleges for Jane, such as those that are generous with need-based financial aid or offer generous merit-based scholarships. It also highlights the most expensive colleges, including out-of-state state colleges and private colleges that are not generous with need-based financial aid.<br /><br />Lastly, the report offers Jane the opportunity to sign up for a free session with a NAPFA Certified Financial Planner. This session aims to provide personalized advice and guidance on utilizing the College Money Report™ results, navigating the college application process, and exploring various options for paying for tuition, including scholarships, tax credits, and loans.<br /><br />Jane is encouraged to read the report carefully and consider taking advantage of the financial planner's expertise to maximize her college funding opportunities.

Keywords

NAPFA Foundation

College Money Report

financial aid

Cost of Attendance

Student Aid Index

merit-based scholarships

net costs

affordable colleges

expensive colleges

financial planner