Do you know the 3 biggest mistakes parents and students alike make when looking for free money for college that destroys their bottom line? If you want to dramatically increase your chances of having your child’s college tuition and fees covered by scholarships and other college financial aid while avoiding these 3 college financing mistakes, read this right away because mistakes and what to do instead they are within this article.
Mistake #1: Starting too late
What is the mistake? The mistake here is believing that students should wait until they reach their junior or senior year in high school before finding different sources of free money for college.
Why is it a bug? This is a mistake because the longer a student waits before starting, the less time she has to research the awards she will qualify for.
What should you do instead? Regardless of your child’s age, start now by creating a list of college financing opportunities. As your kids get older, that list will grow over time, too.
Mistake #2: Doing the work themselves
What is the mistake? The mistake here is forcing yourself to find all the college money you need on your own. This leads to overwhelm and before you know it, you and your child will have given up hope.
Why is it a bug? This is a big mistake because in order to win at the game of finding free money for college, you’ll want to identify ways to do it without having to do all the legwork yourself.
What should you do instead? Relationships are key here. Try to build a relationship with the college advisor at your child’s school and ask for email updates if any new scholarship awards come across your desk. This person is often your greatest resource.
Mistake #3: Not knowing the numbers
What is the mistake? The mistake here is finding and applying for 30 or fewer scholarships to help you pay for college.
Why is it a bug? This is a mistake because even the best student will win less than 3% to 5% of the prizes he applies for. That said, if a student locates and applies for 3 college scholarships or college funding opportunities, that’s roughly 90 over the course of the month.
What should you do instead? Be aggressive in finding as many credible sources of free money for college. Set a daily or weekly goal and stick with it until the question of how to pay for college quickly becomes a thing of the past.