PROFILE 1 -- FIRST STUDENT

I. Student's Background

Family Income ....................................$12,000

Family Size.............................................4

Number of Family Members in College ....................1

II. Characteristics of the College That Student Would Like To Attend and Student's Financial Aid Package at That College

A. A 2-Year Public College. Total cost of attending this college comes to $4,000.*

Student's Financial Aid Package at This College:

Total Cost of Education ..........................$4,000

Expected Family Contribution (EFC) Parents............$0

Student**(from summer job savings) .................$700

Financial Need....................................$3,300

For this student, the total cost of education is $4,000. When you subtract the EFC, the financial need is $3,300. Therefore, the financial aid package below was offered to the student.

Example of Financial Aid Package:

Financial Need....................................$3,300

Pell Grant.........................................2,400

SEOG***..............................................400

State Aid............................................500

Total Financial Aid ..............................$3,300

B. A 4-Year Public College. Total cost of attending this institution comes to $6,500.*

Student's Financial Aid Package at This College:

Total Cost of Education ..........................$6,500

Expected Family Contribution (EFC) Parents............$0

Student** (from summer job savings) ...............$ 700

Financial Need....................................$5,800

For this student, the total cost of education is $6,500. When you subtract the EFC, the financial need is $5,800. Therefore, the financial aid package below was offered to the student.

Example of Financial Aid Package:

Financial Need....................................$5,800

Pell Grant.........................................2,400

SEOG***..............................................600

Work-Study...........................................800

Perkins Loan****...................................1,000

State Aid..........................................1,000

Total Financial Aid ..............................$5,800

C. A 4-Year Private College. Total cost of attending this institution comes to $15,200.*

Student's Financial Aid Package at This College:

Total Cost of Education .........................$15,200

Expected Family Contribution (EFC) Parents............$0

Student** (from summer job savings) ...............$ 700

Financial Need ..................................$14,500

For this student, the total cost of education is $15,200. When you subtract the EFC, the financial need is $14,500. Therefore, the financial aid package below was offered to the student.

Example of Financial Aid Package:

Financial Need ..................................$14,500

Pell Grant.........................................2,400

SEOG***............................................1,000

Work-Study.........................................1,200

Perkins Loan****...................................1,000

Stafford Loan......................................1,500

State Aid..........................................1,400

Institutional Aid..................................6,000

Total Financial Aid .............................$14,500

PROFILE 2 -- SECOND STUDENT

I. Student's Background

Family Income .........................................$32,000

Family Size..................................................4

Number of Family Members in College ........................ 1

II. Characteristics of the College That Student Would Like To Attend and Student's Financial Aid Package at That College

A. A 2-Year Public College. Total cost of attending this college comes to $4,000.*

Student's Financial Aid Package at This College:

Total Cost of Education ..........................$4,000

Expected Family Contribution (EFC) Parents........$1,500

Student** (from summer job savings) ...............$ 700

Financial Need ...................................$1,800

For this student, the total cost of education is $4,000. When you subtract the EFC, the financial need is $1,800. Therefore, the financial aid package below was offered to the student.

Example of Financial Aid Package:

Financial Need ...................................$1,800

Pell Grant...........................................700

SEOG*** .............................................500

Work-Study...........................................600

Total Financial Aid ..............................$1,800

B. A 4-Year Public College. Total cost of attending this institution comes to $6,500.*

Student's Financial Aid Package at This College:

Total Cost of Education ..........................$6,500

Expected Family Contribution (EFC) Parents .......$1,500

Student** (from summer job savings) ...............$ 700

Financial Need ...................................$4,300

For this student, the total cost of education is $6,500. When you subtract the EFC, the financial need is $4,300. Therefore, the following financial aid package was offered to the student.

Example of Financial Aid Package:

Financial Need ...................................$4,300

Pell Grant ...........................................700

SEOG***...............................................600

Work-Study..........................................1,400

Stafford Loan.......................................1,000

State Aid.............................................600

Total Financial Aid ...............................$4,300

C. A 4-Year Private College. Total cost of attending this institution comes to $15,200.*

Student's Financial Aid Package at This College:

Total Cost of Education .........................$15,200

Expected Family Contribution (EFC) Parents .......$1,500

Student** (from summer job savings) ................$700

Financial Need ..................................$13,000

For this student, the total cost of education is $15,200.* When you subtract the EFC, the financial need is $13,000. Therefore, the financial aid package below was offered to the student.

Example of Financial Aid Package:

Financial Need ..................................$13,000

Pell Grant............................................700

SEOG***.............................................1,200

Work-Study..........................................1,500

Perkins Loan****....................................2,000

Stafford Loan.......................................2,500

State Aid.............................................800

Institutional Aid...................................4,300

Total Financial Aid ..............................$13,000

* This "total cost" includes tuition, fees, room, board, books, supplies, and transportation.

** The student worked during two summer vacations while in high school and saved $700 for college.

*** An SEOG is a Supplemental Educational Opportunity Grant--which is a Federal award that helps undergraduates with financial need, and is awarded by the school.

**** A Perkins Loan is a low-interest Federal loan for undergraduates and graduate students with financial need, and is awarded by the school.

Are there other ways to keep the cost of college down?

Enroll in a Two-Year College; Then Transfer to a Four-Year College

Local community colleges are usually the least expensive. In addition to charging low tuition, they are located in the area in which the student lives, which makes it possible to save by living at home and commuting to campus.

After completing an associate's degree or certificate in a two-year college, students often can transfer to a four-year college and work toward a bachelor's degree.

If your child chooses this route, he or she needs to take courses in the two-year college that will count toward a bachelor's degree. Certain community college courses may not be transferable to a four-year institution. Community college admissions officers can explain transfer terms and opportunities.

Work Part Time

Some students choose to work part time and attend college part time. If your child wishes to do this, he or she should make sure that work, classes, and time for studying do not conflict. Some institutions offer programs that enable students to combine work and classes. Although going to school part time is a good option for many students, it usually takes longer for part-time students to earn their degrees.

Take Advantage of Armed Forces Education Programs

All of the ways to get postsecondary educational training through the Armed Forces are shown in Chart 10 below. The armed forces offer educational programs during or after active duty. If your child prefers to work toward a college degree immediately after high school, attending one of the military academies or attending a civilian school and enrolling in the

[Graphic Omitted]

Reserve Officers Training Corps (ROTC) program are options. If your child wants to join the armed forces before attending college full time, he or she can attend college after military service by taking advantage of the Montgomery GI Bill or by obtaining college credit for some of the military training he or she will receive.

* Military Academies

Each branch of the military, with the exception of the Marine Corps, has its own academy--a four-year college that offers a bachelor's degree and a commission in the military upon graduation. The military academies are highly competitive and are tuition-free to students who are admitted. The three main military academies are:

(1) U.S. Military Academy, located in West Point, New York;

(2) U.S. Naval Academy, located in Annapolis, Maryland; and

(3) U.S. Air Force Academy, located in Colorado Springs, Colorado.

* ROTC

In the ROTC scholarship program, the military covers the cost of tuition, fees, and textbooks and also provides a monthly allowance. Scholarship recipients participate in summer training while in college and fulfill a service commitment after college.

* The Montgomery GI Bill

This bill provides financial support for people who wish to pursue a college education after serving in the military.

* Other Ways To Get a College Education in the Armed Forces

Most branches of the military offer some kind of tuition assistance program that enables members to take college courses at civilian colleges during their off-duty hours while on active duty. In addition, military training while on active duty can sometimes count toward college credit. All branches of the military offer training in various technical and vocational areas, and military enrollees can often obtain college credit for some of this training.

Local armed forces recruiting offices can provide detailed information about education opportunities through the military.

How do I set up a long-range plan?

Step by step, you can help your child make informed decisions about his or her education, do well academically, learn about colleges, and find the best possible opportunities for a college education.

Following are two checklists that are designed to help you and your child, year by year, progress toward preparing for college--both academically and financially. The first list speaks directly to your child, although he or she may need your help. The second list speaks directly to you.

College Preparation Checklist for Students

PRE-HIGH SCHOOL:

* Take challenging classes in English, mathematics, science, history, geography, and a foreign language.

* Develop strong study skills. * Start thinking about which high school classes will best prepare you for college.

* If you have an opportunity to choose among high schools, or among different programs within one high school, investigate the options and determine which ones will help you --

further your academic and career interests and

open doors to many future options.

* Investigate different ways to save money--buying a U.S. Savings Bond or opening a savings account in a bank, etc.

* Start saving for college if you haven't already.

HIGH SCHOOL:

gth GRADE

* Take challenging classes in English, mathematics, science, history, geography, and a foreign language.

* Get to know your career counselor or guidance counselor, and other college resources available in your school.

* Talk to adults in a variety of professions to determine what they like and dislike about their jobs and what kind of education is needed for each kind of job.

* Continue to save for college.

10TH GRADE

* Take challenging classes in English, mathematics, science, history, geography, and a foreign language.

* Talk to adults in a variety of professions to determine what they like and dislike about their jobs, and what kind of education is needed for each kind of job.

* Become involved in school- or community- based extracurricular (before or after school) activities that interest you and/or enable you to explore career interests.

* Meet with your career counselor or guidance counselor to discuss colleges and their requirements.

* Take the Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test (PSAT/NMSQT). You must register early. If you have difficulty paying the registration fee, see your guidance counselor about getting a fee waiver.

* Take advantage of opportunities to visit colleges and talk to students.

* Continue to save for college.

11TH GRADE

* Take challenging classes in English, mathematics, science, history, geography, and a foreign language. * Meet with your career counselor or guidance counselor to discuss colleges and their requirements. * Continue involvement in school- or community-based extracurricular activities.

* Decide which colleges most interest you. Write these schools to request information and an application for admission. Be sure to ask about special admissions requirements, financial aid, and deadlines.

* Talk to college representatives at college fairs. * Take advantage of opportunities to visit colleges and talk to students.

* Consider people to ask for recommendations--teachers, counselors, employers, etc.

* Investigate the availability of financial aid from Federal, State, local, and private sources. Call the Student Aid Hotline at the U.S. Department of Education (1-800-4FED-AID) for a student guide to Federal financial aid. Talk to your guidance counselor for more information.

* Investigate the availability of scholarships provided by organizations such as corporations, labor unions, professional associations, religious organizations, and credit unions.

* If applicable, go to the library and look for directories of scholarships for women, minorities, and disabled students.

* Register for and take the Scholastic Aptitude Test (SAT), the ACT, Achievement Tests, or any other exams required for admission to the colleges you might want to attend. If you have difficulty paying the registration fee, see your guidance counselor about getting a fee waiver.

* Continue to save for college.

12TH GRADE

* Take challenging classes in English, mathematics, science, history, geography, and a foreign language.

* Meet with your counselor early in the year to discuss your plans.

* Complete all necessary financial aid forms. Make sure that you fill out at least one form that can be used for Federal aid.

* Write colleges to request information and applications for admission. Be sure to ask about financial aid, admissions requirements, and deadlines. * If possible, visit the colleges that most interest you. * Register for and take the Scholastic Aptitude Test (SAT), American College Test (ACT), Achievement Tests, or any other exams required for admission to the colleges to which you are applying. If you have difficulty paying the registration fee, see your guidance counselor about getting a fee waiver.

* Prepare your application carefully. Follow the instructions, and PAY CLOSE ATTENTION TO DEADLINES! Be sure to ask your counselor and teachers at least two weeks before your application deadlines to submit the necessary documents to colleges (your transcript, letters of recommendation, etc.).

CONTINUED IN PREPARING YOUR CHILD FOR COLLEGE  Part 5