Frequently Ask Questions

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A 529 account can be opened by anyone. Grandparents, other relatives or family friends can all be account owners, or simply choose to contribute to an existing account. In most states, a trust, corporation, non-profit or government entity can also open an account.

Undergraduates are offered financial aid in the form of a 'package' — a combination of grants, loans, and work-study. The first step in determining a student's financial aid package is through the process of need analysis. There are two formulas for need analysis. The first is conducted by the federal government to determine eligibility for its programs. The second is sometimes conducted by colleges and universities to determine how they will distribute their own institutional aid.

The Pell Grant program provides grants to low-income undergraduates to help them pay for college. In 2002-03, this program provided $11.6 billion in grants to 4.8 million undergraduate students at 5,900 postsecondary education institutions. Individual grants ranged from $400 to $4,000; the average grant was $2,411. The average family income of Pell Grant recipients who were dependent on their parents for financial support in 2000-01 was $21,599. The average income for financially independent students was $13,658.

The Leveraging Educational Assistance Partnership (LEAP) Program, which provides incentives for states to provide grants to students who attend college, has played a significant role in encouraging every state to create and maintain its own student grant program. States are required to provide at least 50 percent of the funding for this program. In 2001-02, federal LEAP funds provided $50 million in grants to students who attended postsecondary education. Including state matching funds, approximately 2 million students receive LEAP funds in 2000-01.

Some universities do offer incentives for parents with multiple students at the same university. To learn more, please contact your student's financial aid office.

Yes. Parents are an invaluable resource for students in every aspect of campus life, and the Greek experience is no different. Many chapters have parent events and publications to keep parents informed of chapter events, achievements, and needs. Parents can also get involved by volunteering at chapter fundraising activities or presenting educational presentations, helping the chapter make community contacts, or providing additional resources to assist the chapter in a variety of programming areas.

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Go to FAFSA.gov. Make sure that you go to ".gov" not ".com." If you go to “.com” they will charge you $45.

The average cost is $450-600 including initiation fees. Students will get a break down of each chapter's due structure during formal Recruitment, so they can see and understand the cost of each organization.