Our colleague and college specialist Donna Cournoyer contributed the following update for college planning
Senior year for a high school student and their family is usually quite busy. Settling into the new school year schedule and activities begins in earnest as Labor Day brings summer to a close.
Organization can keep a college-bound senior and their family on top of the to-do’s and deadlines, ensuring this last leg of college preparation and the application phase goes smoothly.
To help in this effort, I’ve provided need-to-know information in the following five sections:
- Key Considerations for High School Seniors
- FAFSA Application Form Availability & Deadlines
- FAFSA Formula & Net Price Calculator
- Merit Scholarships
- The Fall Checklist
Key Considerations for High School Seniors
Eligibility for financial need-based Federal financial aid from the US Government and need-based grants and aid from US colleges is based on the Federal FAFSA application (Free Application for Federal Student Aid) and its formula.
This includes free grant money from the government such as the Pell Grant, the colleges’ free grants, Federal Subsidized student loans and the Federal Work Study program.
The following link to studentaid.gov website runs through the Types of Federal Student Aid.
Eligibility for the student is determined by the financial aid office at the college or university to which the student is applying.
Even if you are likely not eligible for financial aid and need-based funds, I strongly recommend that everyone complete the FAFSA form.
Schools often award some free grant money to students for completing the FAFSA form regardless of eligibility and some schools require it for the student to be considered for a merit scholarship, even though those are not based on financial need.
FAFSA Application Form Availability & Deadlines
The traditional opening date of the FAFSA form is October 1 for the following academic year. (October 1, 2024, for the 2025-2026 year).
However, last fall due to major changes in the form for the first time in many years, there were many hiccups and delays from the Department of Education and the 2024-2025 application did not open until January 1, 2024. From there, issues continued for months.
In August, The Department of Education announced that the FAFSA is expected to open for testing with a limited set of students and institutions on October 1. The DoE also stated they will make the application available to all students on or before December 1.
Be sure to check the financial aid pages on the websites of your college list to keep up with the opening date of the FAFSA and each school’s required forms, and check online on the Federal Student Aid website- look for “2025-26 FAFSA form” here: FAFSA.
For schools on your list check to see if any also require the CSS Profile
FAFSA Formula & Net Price Calculator
The FAFSA formula uses some key figures to determine a student’s eligibility for financial aid, some key elements in that formula are:
- Parents’ Adjusted Gross Income (AGI)
- Parents’ Taxes paid
- Parents’ investments OTHER than personal retirement accounts. (not including accounts such as your IRA, 401(k), etc.)
- Number of family members
Another way to estimate financial aid ahead of access to the FAFSA and college financial aid letters is to use each college’s Net Price Calculator.
- The simplest way to find a school’s Net Price Calculator is to search the name of the college followed by “npc”, such as: yourschoolnpc.
- Keep in mind that they do not all include merit scholarship estimates, which will help your net cost if the student is awarded one with admission to the school.
Merit Scholarships
Merit Scholarships are school-awarded scholarships NOT based on the FAFSA form and financial need.
Merit Scholarships (also called Academic Scholarships) are based on the student’s overall admissions application which includes GPA, essays, possibly SAT or ACT scores and interviews, and any other requirements from the admissions office.
Schools usually have a range of amounts they may offer students, and Merit Scholarships are usually awarded for four years and may have a GPA requirement for continued eligibility. Each school will have different criteria and amounts available according to their own policies. Eligibility is determined by the admissions office.
Be sure to get your admissions applications and the Common App done early, to help put yourself in the best position to be awarded a merit scholarship. And make a list of the application deadlines for each school you are applying to.
The Fall Checklist
- Deadlines: Make a list of deadlines for admissions and financial aid for your college list
- FAFSA: Watch for the opening of the FAFSA and complete as soon as possible
- Net Price Calculator: Estimate Your Net Cost for schools on your list (use NPCs for now, and merit and financial aid offers later)
- Your Budget: Estimate how much you are able and willing to spend and / or borrow for your student’s education
- Complete the Common App/Admissions Applications Early: Be sure to get applications done early. Early applicants are likely to receive decisions the earliest.
- SAT/ACT: Decide if your student will submit scores and/or retake any tests.
- Engage with your Admission Representatives: For your top schools reach out to your admissions counselors and let them get to know you so they can advocate for your admission and merit scholarship.
- Make Another School Visit: If you are having trouble narrowing your list, or deciding which school is at the top, try to visit the school again. It is also good to tour when students are there.
- Make a List of Pros and Cons for Each School: Look at programs, school size, student resources and activities, location, cost estimate and of your important decision factors for your college choice. This is helpful as you start applications, and the process gets closer to decision making time.
If you are interested in some guidance, we offer hourly college planning services, and a complimentary 30-minute consultation to discuss your personal situation. You can schedule an appointment here on our website: Schedule an Introductory Meeting.
Good luck and have a great year, seniors!