School Hosts Financial Aid Night

On Monday, November 26, school hosted a Financial Aid Night. Dr. Paul R. Wrubel, who specializes in helping parents get financial aid for colleges, gave the talk.

The evening centered around how parents should fill out the Free Application for Federal Student Aid (FAFSA). It’s a free application online due January 1. Wrubel insisted that it was crucial to fill out FAFSA accurately in every respect otherwise that application would be put on hold while aid would be given to other applications.

FAFSA gives aid based on the difference between life at college, which includes housing and fines, and the total family contribution (TFC). The TFC is calculated through dozens of variables, but roughly is about one-quarter of family wages. This has a hefty implication for college: no college is out of budget for any family because FAFSA will award the difference between what could reasonably expected from the family.

Wrubel told the audience to watch out for certain loans that FAFSA might award; those loans don’t actually count as financial aid and the government is obligated to meet the gap between TFC and the cost of college. Wrubel advises parents to make use of financial aid calculators to determine what would be in the ballpark of a reasonable contribution from their family, instead of simply guessing the number.

All in all, Wrubel said that FAFSA represents a marvelous way to help families pay for college, but parents should be cautious not to make mistakes on the application.