Getting Financial Help for College

My daughter will probably be valedictorian of her class. She also has high SAT scores. I don't want her to have lots of debt from loans when she graduates from college. What financial help is available for bright students? - Need Money
Answer: The news is good. Most colleges are now discounting tuition for bright students with good grades and SAT or ACT scores and a high class rank, because they truly want them to enroll. Unfortunately, this does not include elite schools that ban merit-based financial aid. When your daughter applies to colleges, have her look for phrases indicating that students should apply even if they cannot afford the cost, because these schools are more likely to offer assistance. Furthermore, many admissions offices will discuss the possibility of this kind of help.
In addition, bright students can cut tuition costs by shortening the time they are in college. At many schools, they can get course credits toward graduation through scoring well on advanced placement exams. And students can always take a heavier than usual number of credits each semester.
There are many scholarships for bright children, but work is required to find them. Probably the easiest to find are local scholarships, because information about them will be in the guidance or career center at your daughter's school. Plus, the school will have information about state scholarships that she should investigate. Beyond this, your daughter can go online to one of the many free scholarship search sites that will give her ideas about other scholarships. Also, family members should investigate scholarships that might be offered by their workplaces or any organizations they might belong to.
When your daughter is accepted at a college, the financial-aid office will tell her what help she will receive. Compare the packages that different schools offer. You can even call a school and say that another has offered a more attractive package. If your daughter meets the profile of what a particular school is looking for, she might be able to get more free money.