Financial Aid Basics – What Students and their Parents need to know

Do you get the same questions from students and parents over and over about financial aid? NACAC has put together a very nice Powerpoint presentation that you can share free with students and parents that have questions. It is free to download and use.

Here is a quick overview of what it covers:

1: How much does college cost, and what is included in the total cost?

2: What is the difference between grants, scholarships, loans, and work-study?

3: How does a student receive financial aid?

Tips include:

  • focus on the net price, as opposed to the sticker price
  • there are calculators on each College’s website that help you determine the net price (note we also have links to a number of school’s net price calculators here –
  • information on the FAFSA
  • information on Scholarships and where to look for them (one key tip is to tell your students never to pay money to apply for an outside scholarship)
  • the difference between billable costs and indirect costs
  • formula for assessing student need
  • types of financial aid (grants, scholarships, work-study, loans
  • sources you can trust for more information

The presentation includes some great information you can use. Here is a link to the page where you can download it for free ––families-need-to-know-ppt/