The words 'college tuition' strike fear in the hearts of most parents (and even potential parents). But fear not. There is a lot of financial aid out there, and the federal government is trying to make it easier for students to find it and apply for it. This quiz could help you navigate your way through the financial aid maze.
What was the average cost of a private four-year college for the 2009-10 school year?
According to the College Board, the average cost for the 2009-2010 school year at a private four-year college was $26,273.
The first thing you need to do in the search for financial aid is fill out this form.
Completing the Free Application for Federal Student Aid (FAFSA) is the first step in the process. It examines your family's finances and eventually will give you the amount you're expected to contribute to your college education.
What's the main factor in evaluating if you're eligible for a Pell Grant?
your SAT score
your financial need
Pell Grants are based on financial need. In the application process, they'll formulate an EFC (expected family contribution). The amount awarded is figured from the EFC and some other factors, like if you're going to be a full- or part-time student.