Module 3 of College Afforability Project: A Tutorial for College Aid Pro™"-Handout #3: How to Find Schools Most Generous with Financial Aid

Handout #3: How to Find Schools Most Generous with Financial Aid

Pdf Summary

This document provides information on the College Affordability Project and outlines five critical aspects of college funding. <br /><br />One of the points discussed is the college funding gap and resulting student loans at each college. It emphasizes the need to understand the financial aid available and the potential loans that may be required. <br /><br />The document also explains the two types of aid awarded to students - merit-based and need-based. Merit-based scholarships are given to recognize outstanding academic performance, talents, or leadership, while need-based aid is awarded to those who demonstrate financial need. <br /><br />The total cost of college each year, known as the Cost of Attendance (COA), is highlighted in the document. It explains that the Student Aid Index (SAI) is used to determine financial aid need, taking into account the college's cost and the SAI score. <br /><br />The document also includes a chart that categorizes students into different groups based on their merit and financial need. It offers a simplified way to understand the financial aid awarded to each student group. <br /><br />Additionally, the document provides information on the average net price, loan balance, and percentage of freshmen receiving aid at various colleges. It emphasizes that averages can be misleading when considering college affordability. <br /><br />The document briefly mentions Merit Based Aid, which is awarded to meet 100% of financial need. <br /><br />Lastly, there is information on a Competitive Grid/Automatic Package, which has a percentage of freshmen receiving aid and the average net price.

Keywords

College Affordability Project

college funding

college funding gap

student loans

financial aid

merit-based scholarships

need-based aid

Cost of Attendance

Student Aid Index

net price