ABSTRACT
This chapter is a discussion of the all-important role that financial aid and merit-based scholarships play in the college process. It presents a framework for conducting a sample Parents' Financial Aid Workshop and explain the effectiveness of having a college financial aid officer as a guest speaker. Financial aid falls into two broad categories: need-based financial aid and merit-based scholarships. In order to determine whether or not a student qualifies for need-based financial aid, parents must file the FAFSA in the second semester of the senior year and each year that the student attends college. The chapter suggests that students find out if the college funds 100% of demonstrated need, if the college makes any adjustments to the federal formula, and what the specific breakdown is of the need-based financial aid award package from the college. Merit-based scholarships are another form of financial assistance for students who qualify.
