Financial Aid Consultants

To help determine a family's eligibility for college scholarships, grants, loans and other assistance, almost all U.S. colleges and universities use financial aid forms. But the forms are so troublesome to fill out that many parents are getting advice from academe's equivalent of tax advisers: college financial aid consultants.

This new breed charges fees from $20 to $500, depending upon how much individual attention you get. Consultants guide you through the aid application process and make sure no options and opportunities are overlooked.

A consultant typically begins by reviewing your finances. Then, using his or her knowledge of the schools' finances, he or she can figure out what kind of aid and how much you would get from colleges you are considering. He or she will also point you to money available from sources other than the schools for example, state loan programs or private scholarships. Of course, the consultant will help you fill out the aid forms; you have to repeat that arduous task every year.

To find a consultant in your area, ask a financial aid officer at a local college or a high school guidance counselor. Check the references of all consultants you consider. Stay away from anybody who makes big promises about how much financial aid he or she can get for you or who urges you to misrepresent yourself on the forms. The applications you file are checked for accuracy.