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PHEAA advisers outline steps families can take to narrow college financial-aid gaps
Summary
PA Forward account executives at the Pennsylvania Higher Education Assistance Agency described how students and families can reduce the difference between college cost of attendance and gift aid, emphasizing early preparation, careful review of offer letters, scholarship searches and cautious borrowing.
Tiffany DeVane, host of PHEAA’s Higher Education Access Corner, moderated a roughly hour-long discussion about covering the financial-aid gap with PA Forward account executives Dan Ray and Will McGinley.
The guests urged families to begin planning years before college, use net-price calculators and compare school offer letters, and to treat loans as a last resort after maximizing grants, scholarships and work-based aid. “Don’t borrow more than your starting salary,” said Dan Ray, describing a guideline he and colleagues recommend when judging affordability.
The conversation focused on the practical steps that reduce a remaining gap after gift aid: (1) front-load the process (scholarship searches, career exploration and documentation of accomplishments), (2) carefully read and compare financial-aid offer letters, and (3) weigh options for covering any shortfall, including payment plans, student…
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