The beginning of every new year also begins "financial aid season" for those parents whose children will attend college in the fall. Considering how expensive colleges have become and the amount of financial aid that can be gained (or lost) through this process, parents should educate themselves as much as possible about this process.
The Los Angeles Times recently published an article containing the tips to help parents avoid the most common mistakes when filling out financial aid forms. You can read the whole article by clicking here, but a summary of the tips is listed below:
- Buckle down and apply
- Dont procrastinate
- Ignore retirement assets
- Dont repeat assets
- Note exemptions
- Benefit from divorce
- Save that password
Source: "Parents Often Fumble on Financial Aid Forms" by Kathy M. Kristof, published in the Los Angeles Times.
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