by Shannon Vasconcelos, former financial aid officer at Tufts University

Attention high school seniors, continuing college students, and all of their parents: In news coming out of the U.S. Department of the Treasury today, we now know what federal student loan interest rates will be for the upcoming school year. 

by Shannon Vasconcelos, former financial aid officer at Tufts University

The COVID pandemic has upended the world of college admissions in all sorts of ways. You may have read recently about the tremendous upsurge in applications at some of the most selective schools in the country, but those positive numbers only tell a limited part of the “admissions in the age of COVID” story.

by Shannon Vasconcelos, former financial aid officer at Tufts University

February’s here, and in Hollywood, that means awards season—the Golden Globes, Screen Actors Guild, and the Oscars—and a chance to celebrate the best films of the year. Now, maybe this year spent in quarantine has affected our brain chemistry, but, here at Bright Horizons College Coach, we’re beginning to think we could give Brad Pitt and Angelina Jolie a run for their money on the red carpet. Therefore, we’ve decided to break out the virtual glitz and glamour, and launch our own contribution to awards season. Over the next week, we will celebrate the best and brightest in the world of college admissions and finance. 

As admission decisions start to roll in, students across the country are receiving both good (accepted) and bad (denied) news. And along with these clear-cut outcomes, many students are receiving some ambiguous news: yes, you’ve been accepted, but no, we are not awarding you enough financial aid to actually allow you to attend. This type of result can be the worst of all for families, as it often puts parents in the heartbreaking position of having to say no to their child’s dream school. Is there, however, any other option?

Paying for college for a child is a challenge, let alone paying for college for two or three or four children. Does the financial aid formula account for the added cost of raising and educating multiple children? Find out in the latest article on the Edmit blog by Bright Horizons College Coach finance consultant Shannon Vasconcelos.

by Shannon Vasconcelos, former financial aid officer at Tufts University

Winter is an exciting time for high school seniors and their parents. Even (and maybe especially) in this unusual year, the receipt of a college acceptance is cause for celebration. For many families, however, the initial elation of a college acceptance is quickly tempered by the receipt of a financial aid offer and the realization that, even after the awarded financial assistance, a given college’s cost is still out-of-reach for your family. While disappointing, that inadequate financial aid offer is not necessarily the end of the story, nor the end of your child’s relationship with that school of choice. The college aid application is, while daunting, necessarily limited in scope and does not paint a complete picture of many families’ financial circumstances, especially in these complicated times. For that reason, colleges are given latitude to use their discretion in considering families’ special circumstances when awarding both government and institutional aid. Consider if you may have had any of these special circumstances that would warrant an appeal to the Financial Aid Offices for special consideration:

by Shannon Vasconcelos, former financial aid officer at Tufts University

If you’ve been within shouting distance of a TV, computer, tablet, phone, or newspaper today, you’ve likely heard that Congress passed an omnibus spending bill last night, including a COVID relief package. What you may not have heard much about yet is a number of significant changes to federal financial aid programs included in the legislation.  More details will be forthcoming, and the bill is still pending President Trump’s signature, but, for now, here are the major provisions in the bill that may directly or indirectly affect how students and parents pay for college:

by Shannon Vasconcelos, former financial aid officer at Tufts University

Important news for student loan borrowers coming out of the Department of Education this weekend!

Secretary of Education Betsy Devos announced the extension of the automatic loan forbearance for federal student loan borrowers through January 31, 2021.  This forbearance was originally granted by the CARES Act and was scheduled to end September 30, 2020. President Trump later extended the forbearance by executive action through December 31, 2020, and Devos’ latest action ensures that struggling borrowers will not need to make payments prior to the new administration taking office in late January.

Are you wondering if you can apply for financial aid on your own, without your parents’ financial information? While most traditionally-aged college students will require parental information as part of the financial aid process, some students are considered independent and can apply for need-based scholarships, grants, and student loans based solely upon their own information.

In the latest installment of the Bright Horizons College Coach video series, We Can Explain, we break down what it takes to be considered independent by a financial aid office.

by Shannon Vasconcelos, former financial aid officer at Tufts University

In order to access financial aid for college, you can list up to 10 schools on your FAFSA (if you’re applying to more than 10 colleges, read our post How to Apply to More than 10 Schools on the FAFSA) to receive your family’s financial information. Upon receipt of your complete financial aid application, those colleges’ financial aid offices will determine your eligibility for any applicable federal, state, and institutional aid programs.

We are often asked if there is a particular order in which order a student should list colleges on the FAFSA in order to maximize financial aid or chances of admission. The good news for students is that, in most cases, it makes absolutely no difference in what order you list your schools: listing from first choice to last, in alphabetical order, or by favorite school color will not change your admissions or financial aid outcomes in any way.