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Featuring Pat Armstrong, director of admissions, St. John's University (Jamaica, NY)

Q: My family and I are very concerned about  

financial aid

 . How much aid can I expect as an average student with average grades?

A: Financial aid is designed to help families meet College costs and awards are generally available as both need-based and merit-based.

Let's first discuss merit-based financial aid. Such money is awarded to students by a number of colleges in recognition of special achievements during high school, including outstanding academic record, significant contributions to one's community through volunteer work, and artistic or athletic talent. The opportunity for merit-based financial assistance varies from school to school.

As you start your College Search, inquire about merit-based financial assistance. Do your choice schools offer scholarships that do not include consideration of your financial status? Be sure also to ask if you need to complete an application or take a test for merit-based assistance, or if you'll automatically be considered.

In reality, the definition of being 'average' is very misleading. While your test scores, transcript, or class rank may reflect your standing as 'average,' you should think about your special talents or community service contributions. Remember, colleges are looking for well-rounded students who have the potential for success and will contribute significantly to the campus community.

Next, let's discuss need-based financial assistance. The amount of need-based aid depends on the cost of the college and the ability of you and your family to pay these costs. If you are applying for financial assistance, you will generally be asked to complete a FAFSA, the Free Application for Federal Student Aid, available in your high school college counseling offices or on-line at www.fafsa.ed.gov. Many colleges require you submit only the FAFSA, but in some cases you'll need to complete two forms for financial aid.

A second common form is the Financial Aid Profile, which is available from your counselor or on-line at www.collegeboard.com/profile. When in doubt about which forms a school requires, review the materials provided with your College Application -- it will contain a listing of required documentation and financial aid deadlines.

So, what happens next, you ask? When your FAFSA is processed, a formula is applied to the data you've provided to determine your Expected Family Contribution or EFC. Using a congressionally-mandated formula, this amount is calculated by subtracting how much of your family's resources is considered 'available' to pay for college costs. That's how the amount of financial assistance for which you will be eligible is broken down. If the anticipated cost of attendance is greater than your EFC, you will probably qualify for financial assistance.

The amount and type of aid you are awarded at different colleges may vary, however, the amount of money you and your family are expected to contribute (EFC) should be fairly consistent regardless of the college you attend.

So, what's left? Loans and employment programs like work-study are two additional options you may wish to explore to help finance your education. State governments can be valuable sources of financial aid as well; all 50 states offer some type of grant program to defray college expenses. Keep in mind that most state aid is need-based and can only be applied if you attend college in your home state. Contact the Department of Education in your home state to determine what opportunities are available. (New York students should contact the Higher Education Services Corporation [HESC] by calling 888-NYS-HESC or surfing www.hesc.com.)

Don't forget about other sources of financial aid, too, including awards from private agencies, foundations, corporations, and fraternal, service, civic and religious groups. Check with your high school college counseling office, public library, and college financial aid offices for more information.

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