The First Step in Education Financing

                                   Always With the Financial Aid Office

The First Step in Educational Financing is to consult with your school's financial aid office and explore other funding sources such as savings, scholarships, grants, and work study programs before borrowing and complete the FAFSA (Free Application for Federal Student Aid).


I must admit I am reluctant to say that the education financing process should start with the financial aid office. Such an approach places far too much responsibility on financial aid professionals and continues to suggest to students and parents that someone else will take care of paying for college for them. Students, parents and families should seek a fundamental basic understanding of educational finance so as to make informed decisions.

Financial aid education, if you will, will result in students and parents coming to the financial aid office better prepared to engage in informed discussion where the language of financial aid is understood. As such, student and parents will ask the right questions; explore options that result in the student's success in school and life after the university. 

By gaining a fundamental basis financial aid education and working with the financial aid office the family will also help itself in assuring success in achieving family goals as well. Students and parents then will better appreciate the concept of informed borrowing, which is based upon the principal of minimum borrowing. Families and students will be motivated to seek funding from sources other than loans. They will also be prepared and encouraged to work with the financial aid office and understand their counsel and instructions. Families will become active participants in the financial aid process offering additional options. And if a student or family chooses not to abide by the financial aid offices advise, they will know the consequences. 

Remember the "ü ": 

1. Educate yourself about financial aid
   
2. Start with your school's financial aid office
   
3. Explore other funding opportunities such as savings, scholarships, grants, and work study programs before borrowing
   
4. Complete the FAFSA