March is the first month students may hear back from colleges they applied to during regular admission. Whether an acceptance letter comes in the mail or through an online portal, the excitement of being accepted into college is tangible. What may be less tangible is understanding how you and your family will pay for college. A new best-selling book aims to help untangle the process.
Ron Lieber’s book, “The Price You Pay for College” is a how-to guide for college costs. Lieber, a financial columnist for The New York Times, explains the systems of financial aid, student loans and college tuition in a compassionate way that can help student and their parents better understand all the options out there that will help them pay for college. He provides advice on some of the more mystifying elements of paying for college, including how to use public data sets to predict what merit aid a student may receive and how to appeal and ask for more financial aid.
How can students make the most of the financial aid available to them at an institution? Lieber recommends looking deep in to the potential merit aid a student may receive for their good grades and rigorous coursework. As we reported recently, more and more colleges are expanding their consideration for merit aid to students who apply without test scores, making merit aid potentially more accessible for applicants in the 2021 admissions cycle than ever before. Lieber also cautions to not jump at the first offer you get from a school. Instead, he suggests approaching a college financial aid package as a negotiation, and to be humble and tactful when asking for additional aid from a college’s admissions department.
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