With the total costs of many private colleges now exceeding $30,000-$40,000 per year, financial aid is a topic on the minds of an increasing number of families.  Perhaps the most important idea to keep in mind regarding financial aid is this:  You will not know whether or not you qualify for assistance, and you will not receive any aid if you do not apply.  It is not uncommon for more than half of the students at some very well known schools to be receiving some type of financial assistance.  It is important not to rule out any college on the basis of cost alone.  Often schools which have higher tuition costs are better able to provide aid than schools which have a lower cost.   

General Financial Aid Terms

There are basically two different types of financial assistance offered by colleges and universities:  need-based and merit-based. 

Need Based Assistance-Colleges offer need-based aid to students who show that they do not have the mean to pay for their college education

FAFSA

CSS/Profile

SSACI


Merit-Based Assistance-Colleges offer merit-based aid to students based on their academic and leadership achievements in high school

Merit-Based Scholarships

Jesuit Merit Scholarships

Other Catholic Merit Scholarships

Financial Aid Caution
There are many search firms that charge a hefty fee to match students with scholarships.  There is no sense in paying someone else to help you save money on college tuition.  Chances are you will do as well on your own.  If you ever doubt the legitimacy or reputation of a service, seminar or search option, please check the too-good-to-be-true source with your college counselor. 

Other Helpful Financial Aid Links