Facts on Financial Aid:
Financial need is determined by taking the cost of attendance (including tuition, room and board, books) and subtracting the amount your family is able to contribute.
Financial aid comes in the following forms; grants (money from federal and/or state governments, institution, or private organizations that doesn't need to be repaid), scholarships (money awarded by the institution for achievement or ability), on-campus work-study programs funded by the federal government, and student loans (money to be repaid with interest).
Financial aid is awarded to students based on evaluation of family income, assets, size, and other factors. The only way to find out if you are eligible to receive aid, is to submit the FAFSA (Free Application for Federal Student Aid).
Don't rule out a college of choice because of cost. Many colleges have substantial funds to enable them to meet the needs of students they want. To do so, they need to use a need analysis formula that takes into account factors that contribute to your need. They may require or recommend that you fill out the CSS/Financial Aid PROFILE to determine your eligibility for nonfederal financial aid.

A free scholarship search is available through FastWeb (www.fastweb.com).

Resources available in the Student and Family Resource Center:

• Guide to State Residency Requirements
• The Scholarship Book (Cassidy and Alves)
• College Scholarships and Financial Aid (Arco)
• College Cost and Financial Aid Handbook (The College Board, 2001, 2003)
• The Scholarship Handbook (The College Board, 1999)
• "Don't Miss Out - The Ambitious Student's Guide to Financial Aid" (Leider, 1999)
• "The A's and B's of Academic Scholarships" (Schimke, 1999)
• CSS/Financial Aid Profile application (The College Board, 2003)

According to Kenneth Hartman's "Internet Guide for College-Bound Students," the best source of information on financial aid is each college's own Web site. Look for answers to the following questions:

• What percentage of incoming students receive some kind of grant, work-study, or loan? And what was the average dollar amount of each?
• Is the college's financial aid policy for first-year students different from the policy for second/fourth-year students? Can I expect a comparable financial aid package for each year that I'm enrolled?
• What is the average loan burden of graduating students?
• If financial need is only partially covered, does the college provide help in finding other funding to meet the remaining costs?
• Do Early Decision applicants have a better chance of getting financial aid?
• Does my status as an international student affect my chances of receiving financial aid

For more information, the National Association of Student Financial Aid Administrators (NASFAA) will provide you with basic and in-depth financial aid advice for parents and students.