What to Ask a College Admissions Counselor About Financial Aid
A common, and possibly one of the most important questions to ask a college admissions counselor, is on the topic of financial aid. Paying for college can be a sensitive subject for families, but most institutions have a number of resources available through grants, scholarships, and other need-based financial aid.
You will want to ask what types of merit-based scholarships are available, if the school offers need-based grants, and what the “net price” of college would be with financial aid. The benefit of accepting grants and scholarships is that they are considered “free money” because they do not need to be repaid.
For domestic students, Babson meets 100% of demonstrated need in the first year and renews the package in future years, assuming there is not a change in the number of students in college or a major change in the family’s financial circumstances. Once a student completes their FAFSA and CSS Profile, Babson will calculate how much a family can contribute toward college. For any remaining need, Babson will put together a financial aid package that may include a combination of grants, scholarships, loans, and student employment. The Student Financial Services’ Office is very helpful in answering questions families may have about college tuition and estimated costs.