In the spring, enticing financial aid letters from colleges will start arriving in high school seniors’ mailboxes. Unfortunately, most of them are misleading.
The letters offering financial aid packages are supposed to help families who are making major financial decisions. But the vast majority of them are hiding the true cost of college, according to a newly released government report.
Here’s how it works: If you get accepted to a college or university (or if one of your offspring gets accepted), that school will send you a letter spelling out what financial aid you’re eligible for — typically a mix
