How your SAT/ACT Scores Impact your College Finances.

College finances are one of the most complicated aspects of preparing for college.  There is so much pressure placed upon students and families to gain the best possible financial aid package.  Colleges go to great lengths to disclose all the important financial information.  They even try to cover as much of the financial burden as

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Your SAT/ACT Scores Impact your College Finances.

possible.  However, your SAT/ACT scores play an important role in your college finances.

 

Many colleges are moving away from using the SAT/ACT scores as a primary source for admission.  However, these scores still play a major role in your college finances.  Most colleges use the SAT/ACT scores to award merit-based aid.  In fact, Marie Willsey states, “a recent study by the National Association for College Admission Counseling (NACAC), nearly four out of five colleges use standardized test scores as an eligibility criterion for merit aid.”  Your SAT/ACT scores impact your college finances.  Here are some ideas for improving your SAT/ACT scores which in turn improves your financial aid.

Study, Study, Study!

You should make sure you are ready for your SAT/ACT.  This means you need to study.  There are plenty of study options available.  Depending on your particular learning style, you can learn from private tutoring to classroom training, online tools or study guides.  At College4Less, we offer a great SAT/ACT preparatory course.  You need to be ready for your test because your college finances are affected by the outcome of your test.

THE SAT/ACT Range

A simple search of your college’s financial aid web page can show the merit-based aid.  This scale is usually defined primarily by your SAT/ACT scores.  The better your score; the better your financial aid.  Each school determines its own merit based scale, but the fact remains that a better score means better aid.  Your SAT/ACT score impacts your college finances.

With just a few improvements, you can see huge dividends in merit-based aid.  In fact, one student, in our program, improved their SAT score by 40 points and receives an additional $16,000 in merit-based aid.  So while the news reports that SAT/ACT are not as important in entering in college, they are still very important to your college finances.

 

 

 

 

Author: Dorothy Mautte

Dorothy is President and Chief Consultant for College4Less™ a College Funding Planning Company associated with the Strategic Education Technologies Advisors and The College Planning Network (CPN). CPN is a network of financial professionals who specialize in helping “families successfully navigate the college admissions and financial aid planning process so their children can attend the college of their choice − regardless of the cost.” Dorothy has served in the Financial Services Industry for over 35 years and has helped hundreds of families plan for college. Whether you have high-school aged children or younger we can help you find the best resources available for all your college needs and design a strategy for you to pay your share and still be able to retire Set for Life without risk.