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Fundamentals of Financial Aid for 2024

Admissions.Blog

Let’s dive into some definitions and discuss fundamental financial aid terminology while introducing what’s new this aid cycle so you can successfully navigate the process of funding an undergraduate education as we approach 2024. It aims to make higher education accessible to those with limited means.

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How does Financial Aid Work?

Solomon Admissions

Simply put, financial aid is money that helps you pay for college. For many students, financial aid is essential to making college affordable. An important key to understanding financial aid is to recognize the vernacular used by colleges, admission and financial aid officers, and financial aid award letters.

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Guide to Financial Aid Letters + Examples

StandOut College Prep

Congratulations on receiving your financial aid award letter! No matter where you are heading, your financial aid award letter is a crucial document that can make or break your decision to attend a particular college or university. So, let’s dive in and explore the different parts of your financial aid award letter!

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What Drives Graduate Student Enrollment Decisions?

Ruffaloni

This table reflects the percentage of students who said each factor was important or very important to them: Importance Factors in Enrollment Decisions Importance (Important and Very Important) Factor Not yet enrolled Enrolled Cost 77% 79% Future employment opportunities 70% 78% Flexible course options (online, evening, weekend, etc.)

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What We Learned About College Students and Families in 2023

Ruffaloni

Videos of campus, classrooms, students, and residence halls 73% of students have taken a virtual tour 79% find them useful 4. Admission requirements 80% of families think money spent on students’ college tuition is a worthwhile investment in their students’ future.

Retention 147
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La Familia: Five Ways Institutions Can Support Hispanic Families  

Ruffaloni

According to our 2022 Marketing and Recruitment Practices for Undergraduate Students, only 31 percent of private, 56 percent of public, and 32 percent of two-year institutions have specific strategies for recruiting and engaging Hispanic students.

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California State University to Expand Grants to Cover Tuition and Living Expenses

BestColleges

The university system committed to setting aside one-third of additional tuition revenue for financial aid. California State University (CSU) trustees voted to expand grants offered by the university system to include the cost of tuition, as well as living expenses for students with financial need, according to EdSource.

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