Check Out Award Letters Carefully

Colleges will soon begin to send out Award Letters which will tell you how much college will cost you and your family.  Carefully check out the loans vs. grants. 

Grants are preferred.  They are gifts and do not need to be repaid.  Also, check out the criteria for scholarships.  What is the requirement to keep a scholarship?  Some colleges merely want you to get a 2.0, others a 3.0, others a 3.2 and some a 3.5.  Since most students get a somewhat lower g.p.a. in college than they did in high school, don’t make yourself vulnerable toward losing your aid.  

Some colleges give the student generous aid but slam the parents with incredible debt.  These are all things to look for.  Keep in mind that the most expensive colleges tend to be the most generous.  They may look like they will cost more, but may actually end up costing less.  You may be quite surprised when you have all the award letters in your hot little hands.