How Financial Aid Eligibility is Awarded?

Have you ever wondered how College Financial Aid Eligibility is determined? Well, the secret is out.

Watch the interview with Mr. Bill Schilling, University Director of Student Financial Aid at the University of Pennsylvania, (one of the eight Ivy League schools).

College Financial Aid Secrets

You can find answers to following questions with time on the video.

• 0:00  – Tell us a little about Penn and the aid forms you require.
• 1:46 – How do colleges assess a student’s eligibility for aid? What’s the process and what do they look at?
• 3:14 – What is the 568 President’s Group of colleges, and how do they calculate how much a student’s family should contribute toward college costs?
• 9:44 – Do student’s aid awards stay the same from year-to-year?
• 12:08 – What should families do if they have unusual circumstances related to their finances, employment or family situations?
• 14:03 – When should families appeal a financial aid award, and how should they do it in a professional manner?
• 16:06 – How does Penn’s aid pledge of no student loans help students plan ahead from an affordability standpoint?
• 17:28 – What is tuition discounting? Does it help colleges fill seats at an affordable price, and is it a sustainable practice?
• 21:00 – If Penn’s endowment takes a hit in the financial markets, will that affect your ability to continue your no-loan aid pledge?
• 23:01 – What concerns do you see on the college aid horizon over the next few years?

Financial Aid for International Students

• Need based Financial Aid is not available for most International Students.
• Eligible for Grants, Scholarships and Assistantship.