The Secret To More College Merit Aid

college financial aidLast week, our summer intern Blake Edwards wrote about how he managed to tame the out-of-control costs of out-of-state college, and reduced his tuition bills to put them on a par with in-state schools.

His strategy was to apply to schools where he would place at the top of the talent pool, and admission counselors would have to throw in more perks to get him to attend.

Well, it turns out his strategy is right on the mark, according to Money magazine.

Tip #75 of its May 2014 cover story on 101 Ways to Build Wealth counseled readers to “Pick a less picky school to get more aid.” Here’s Money’s advice:

“Having your child apply to several safety schools for college isn’t just about making sure she gets in. It may also help her snag an attractive aid offer. According to the College Board, at highly selective private colleges, a little more than a third of the students get merit aid. At moderately selective schools, 57% do.”

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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