Paying For College – The Financial Aid Puzzle
The cost of a college education is rising every year. This year the average cost of a private four-year school was $26,273, up 4.4% from last year, and the average cost of a public school was $7,020, up 6.5% from last year. For most families, paying for college is a struggle. If you feel like you do not have all the pieces of the financial aid puzzle, you are not alone.
On January 1st the 2010-2011 FAFSA (Free Application for Federal Student Aid) was released. The FAFSA is probably the most important part of the financial aid puzzle. If you are planning on attending college in the fall of 2010 you should be in the process of submitting this form. The FAFSA determines how much federal financial aid you are eligible to apply for. There are three basic types of federal student aid: