Education & Opportunity

In my Jan. 4 newspaper column, I discuss important strategies for maximizing your need-based financial aid. Here's a simple truth: Families who have a greater understanding of the financial aid formulas get a much better deal.

One point that I didn't have space to mention in the print column involves students with divorced parents. If your parents are divorced, a college's policy toward non-custodial parental income can have a large impact on the amount of financial aid you receive. Colleges that only use the Free Application for Federal Student Aid (FAFSA) won't consider income from a non-custodial parent. But other schools--usually private colleges--may consider the financial resources of a parent you don't live with.

If this describes your situation, it's important to understand the specific policies of the schools you are considering.

Do you have other financial aid questions? Post them below and I will answer them!