If your family’s Estimated Family Contribution, or EFC, is high due to you family’s overall income, merit-based aid may be a major component of paying for your child’s college education.
If your child’s grades and test scores are above average, many colleges across the country are willing to offer your child thousands of dollars in award money!
What metrics are these schools using in determining how much merit-based aid they will award?
While each college has its own set of standards, typically, colleges will look at a student’s academic performance, meaning grades, and scores on standardized tests such as the SAT, ACT and SAT subject tests.
This means that you and your child should invest time into achieving test scores and grades that place them in the 25th percentile at the colleges they plan on applying for.
You can find top and average scores and GPAs for most colleges through CollegeBoard.
To find out how a college awards its merit-based aid, visit its financial aid web page.
This will help your child get a sense of the GPA, test scores, and other attributes the college looks for in awarding its merit-based aid.
Equipping yourself with this information early in the college planning process can help your child earn thousands of dollars in free money for college.
For more information watch our webinar at www.collegeprepwebinar.com.