Do I Need A Financial Aid Advisor?

Finding financial resources and applying for financial aid can be overwhelming. Looking for help from your parents is a great idea but remember that they are going through this with you for the first time. There are companies out there that offer Financial Aid Advisors. Hiring someone for a few weeks to make sure that you get the financial aid that is necessary for your child to get to college may be worth it. But what does a financial aid advisor actually do? We have compiled a list of just some of the duties that an advisor will perform. If any of these sound good to you then hiring an advisor may be a good idea.

A financial advisor will”

· Your advisor will help you save time finding student loans, scholarships and grants. This can be frustrating especially when you don’t know where to look. Your advisor can help you locate these resources and provide you with the applications. · Your advisor can help you meet deadlines and make sure that your applications are ready to be sent in. Often applicants are penalized if your applications are late. Your advisor will keep track of the deadline and they will make sure that you make them. · Once you start receiving offers on financial aid, your advisor will let you know whether or not you are getting a good deal. · Your advisor can take you from step one all the way through to the end. · Advisors can save you time by taking care of all of the applications for aid, loans or grants. · The advisors take the worry out of financial aid and from filling out the forms and becoming frustrated at having to do all of that.

Before you hire a financial advisor you should find one that has 5 years or more experience and has helped at least 1000 families get financial aid. Don’t be afraid to ask what their qualifications are. You want to someone who will help you based on your need. Some companies want to interview your child to see what they are looking for and if they really want the help. If you are asking for the help then you need it. You want an advisor who is going to help you without question.

Stay away from the companies that offer any guarantees of a certain amounts of aid. There is no way an advisor can possible guarantee your child any money. These numbers are based on your financial paperwork not on the advisor. Some companies will offer back the fees that you paid if they promise you 100% of the money that is sent to the school.

You want to look for a reputable company whose sole interest is in helping you. Most FAFSA applications come back incomplete or they are filled out wrong, but an advisor can help you complete the application in full and save you a lot of aggravation. Do some research into a few companies, call and ask questions, remember it is your child that needs the help.