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How do organizations gauge financial need?

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My family's income is able to pay for college, however, just by the skin of our teeth. Where would that put us for financial need?
#financialneed #scholarships

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Maryann’s Answer

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One of the ways is for you and your parents to prepare a balance sheet and income statement. Also, get copies of your parents’ last few years’ Federal Tax Returns. Schools usually ask for both. The balance sheet and income statement information will likely need to be recorded on the schools’ or government agencies’ specific financial aid application forms. The requirements for aid provided by schools is available from their bursars office. Many government agencies grant and other aid applications are available online.

Maryann recommends the following next steps:

  • Go online and Google education financial aid from US government agencies and for your state. Do same for specific schools.
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