Page 9 - College Guide 2017 Digital Edition

SPECIAL PROMOTIONAL SECTION
A net price calculator is found on every school’s website, as required by the United States Depart- ment of Education. It can assist parents and students in estimating expenses. Inputting information like expected year of entry, current GPA and test scores helps compute expected costs for a given student.
While the initial burden of researching finances falls on students and parents, the institution must disseminate information about financial aid and payment options. “The challenge is meeting a student or their parents and getting them engaged in the process,” says Erin DiMarco, senior vice president
of academic support services at Wilmington University. “There needs to be a lot of communica- tion before a student chooses a school. The onus falls on the school—the website, materials, communica- tion at open-house nights.”
MOST SCHOOLS SEND OUT FINANCIAL-AID INFORMATION AS SOON AS A STUDENT EXPRESSES INTEREST.
DiMarco says it’s not uncommon to see students and parents forego questions because they don’t know what to ask or where to begin. They may also be too embarrassed to ask about financial aid. “It’s an overwhelming process,” she says.
To help alleviate some of those challenges,
most colleges and universities send out information as soon as a student expresses interest, whether by sign- ing up for a mailing list or visiting the school. “We send communications about how to finance a degree, what the loan options are, and how to apply for a scholarship,” DiMarco says.
To help ensure that students understand their of- ferings, the Department of Education has moved the opening date for the Free
Application for Federal
Student Aid (FAFSA) from January to October of the previous year. Students now can look at the loan possibilities ahead of time, though they won’t be able to act until their financial- aid packages are calcu- lated and they’ve committed to attending a school. Knowing what to expect, however, is helpful. “It’s important for them to know the terms associated with any loans—what the requirements are, if there
continued on page C11
JANUARY 2017 I www.todaymedia.com I C9