By Adrienne Treado
As many seniors start to narrow their college choices down the majority of options will be at Division III schools. This leaves parents wondering if they can afford to send their student-athlete to a school that cannot offer athletic aid.
It is a common misconception that Division III colleges do not award scholarships. Some parents are weary about pursuing private out-of-state Division III institutions because of the sticker price. Do not think that just because a college costs $40,000 or more per year that you can not afford to attend. The cost of college all comes down to your ultimate out of pocket cost, which is not necessarily the tuition price inside the college catalogue. Although Division III institutions do not offer athletic scholarships, there are definite avenues to receive financial assistance.
The first step is to fill out the FAFSA (Free Application for Federal Student Aid). The biggest mistake a lot of families make is not filling the FAFSA out because they think their family income is too high. This could not be further from the truth. Every family, regardless of income, has an EFC (estimated family contribution) number, and the larger your EFC, the more aid you will receive. Even if you will not receive a significant amount of financial aid, you should STILL fill out the FAFSA because it is an insurance policy. If you do not apply your family will not be protected in the event of an emergency or loss of income.
The first date you may submit the FAFSA is January 1 of senior year. Apply on this date or as soon after as possible! Financial aid is awarded on a first come first serve basis, so the earlier you submit your FAFSA, the better your chances of receiving aid. Each college/university has a specific deadline and at a certain point, the money does run out.
Colleges have "pots", so to speak, of money they can dip into for students that qualify (especially athletes). These "pots" are not listed in brochures, and therefore a lot of families do not realize they exist. For example, some colleges have pots that the financial aid staff can dip into for students who are "journalism majors from Wisconsin", or for students who have a "3.75 GPA and 1100 SAT and want to major in physical therapy".
Discuss with the coaching staff and admissions what avenues are available to build an obtainable financial package. Here are some key points to discuss:
-Academic based scholarships - what, if anything, can you apply for?
-Title IV Funds - These are federal funds such as loans, work study.
-Grants - These are state, federal, or university based funds that a student is not required to pay back.
Sit down and discuss these topics with the admissions department as well as the coaches. It is amazing the money that comes out of the woodwork when student-athletes are pro-active!
