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(EMAILWIRE.COM, November 23, 2009 ) Fort Lauderdale, FL - Currently, many families are financially handicapped and the lack of job security isnÂ’t doing much to help with the situation. With the ever rising college costs, parents and students alike seem to have nowhere to turn to.
In the midst of the global economic recession, various factors have led to the drastic increase of tuition fees. Some of the reasons include: increased student enrollment, increased college endowment valuations and lack of state funding, among others.
The College Board did a study and released a report which stated that tuition and fees at 4-year private colleges rose 4.4% per annum while at 4-year public colleges, rose 6% amounting to $7020 for in-state students and $18548 for out-of-state students.
From the above statistics, there is no question as to why there has been a rampant increase in the number of students applying for need-based financial aid. The National Association of Student Financial Aid Administrators (NASFAA) has reported that in this year, 9 out of 10 colleges have recorded an increase in the number of applications for financial aid.
If that isn’t enough to get you convinced that college costs have gone through the roof, try this. There is a record high in the number of students appealing for their initial rewards. Close to two-thirds of the colleges have recorded a 10% increase in “professional judgment” appeals.
In a nutshell Â…Budgets are stretched to unbelievable levels, financial aid officers are busier than ever and therefore in order to secure financial aid, you need to get your forms in as early as possible and meet all stipulated college deadlines pertaining to financial aid to increase your chances of getting money for that degree.
HereÂ’s what you have to do: get ahead of time. This November and December are your months of performing strategic financial aid and positioning. This gives you a great head start since priority deadlines for financial aid are in February and early March. When done this early, the colleges are in a better position to be generous since they have not received too many applications, This entitles you to more grants and less student loans.
Some colleges have recently created an “adverse economic circumstances funds” which is set aside to help families which have been hard hit by this uneventful economic crisis. However, if you don’t send in your application early enough then the funds may be used up when you decide to send it in “at your own time”.
This is the time to act.
Sheila Danzig, founder of Degree.com, www.degree.com/ the premier internet portal for distant learning, online study and online degree programs, offers a free review copy of her book THE BIG BOOK OF COLLEGE SCHOLARSHIP AND FINANCIAL AID INFORMATION at http://degree.com/free-downloads.htm This is a limited time offer.
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