Module 3 of College Afforability Project: A Tutorial for College Aid Pro™"-Handout #1: Introduction to College Affordability Project

Handout #1: Introduction to College Affordability Project

Pdf Summary

The document titled "The College Affordability Project" by Joe Messinger provides information on college costs, financial aid, and the college funding maze. It highlights the increasing cost of college tuition and fees, with Ivy League schools having the highest expenses at $78,970 per year. The document also mentions the prevalence of student loans, with the total student loan debt in the US reaching $1.76 trillion and an average debt of $39,351 per borrower. <br /><br />It discusses the importance of understanding the college funding gap and the resulting student loans at each college. Additionally, it provides information on the Free Application for Federal Student Aid (FAFSA) and the financial aid timeline for the class of 2024. The document explains how the expected family contribution (EFC) is calculated based on parent and student assets and income.<br /><br />The document highlights changes and updates in the financial aid process, such as the FAFSA Simplification Act and the reduction of the FAFSA form from 108 to 36 questions. It also mentions the CSS Profile, an institutional formula used by select elite colleges.<br /><br />Overall, the document provides a framework for navigating the college funding maze and understanding the financial aspects of college affordability.

Keywords

College Affordability Project

college costs

financial aid

college funding maze

tuition and fees

student loans

student loan debt

FAFSA

EFC

CSS Profile