What to do if you are short on financial aid

So you've applied to college, been accepted, and gotten a look at your financial aid package. You do the math and realize you are short of paying for everything. What are you going to do?

Well, you can ask the financial aid office for another look, maybe a better offer. Click here for tips on getting more financial aid.

After that, there are a few things the college student can do to make the bottom line look better.

First thing is to be first in line. Apply early. Colleges have a more limited supply of funds to give out and may run out if you delay.

Think about changing schools, if it's not too late. Many colleges are offering out of state students money as an incentive to come to their college. Some large private colleges actually have more money to give out. So even though the cost is higher, it will be cheaper for you in the long run.

Don't overlook the scholarship search. It may take some of your time, but working on finding scholarships in this economy is worth it. And there are many scholarships that go overlooked. You can do a free college scholarship search here, or learn ways of finding scholarships here.

Colleges have what they call merit scholarships to current students who have high GPAs. So, pump up your studying and get good grades.

And the easiest way to make up a shortage of college money. Spend less. This means everything from transportation, to books, and dorms to food. Read 30 ways to cut college costs.

The bottom line, is that your bottom line may look deep, but with a little extra work, you can make up for a college cash crunch.

The hidden costs of college can make college very expensive

When college students think college expenses, they usually think tuition. Then maybe room and board. And they think that's it. Unfortunately, many students get whacked with fees and expenses that they did not think about. Or even know about. When calculating the true cost of college, you have got to factor in the "hidden" costs of college.

Textbooks: Of all the expenses of college, this one can jump up and bit you. Hard. If you take a full time schedule, math, science classes, chances are very good that you will pay over $100 for a textbook. Four classes it is not uncommon to spend $300 each term on textbooks. Maybe more. That alone could add $600-$1000 a year to the cost of college.

Fees: Many colleges charge a fee for all sorts of things. Health, student activities, lab fees, and materials fees. These are only a few. While some are known up front, you may not realize that lab class has an extra cost.

Transportation: Do you own a car and will be using it at college? You will need to pay for a parking pass. This could be as high as $40 a month. And you still have to pay for car insurance. Do you live off campus? How much is bus fare?

Food and drinks: You may think that you have a meal plan and that solves the food problem. Not really. Many times the cafeteria will be closed, or you will find yourself off campus and hungry. Purchasing extra food and drinks can add up fast. How many times do you think you will be eating fast food off campus? Or even on campus? If your meal plan is on a prepaid card, you need to watch how much you use it. If there is one expense you can't eliminate, it's food and drink.

The Dorm: You may think the dorm is done. But a dorm room is a sterile environment until you customize it. You will probably need a lot of personal items, like towels, sheets, pillows, and accessories to make it livable. Not to mention personal items like soap, shampoo, deodorant, make up, and more.

Remember, if you have never lived on your own, you have no idea how expensive it can be to maintain your lifestyle. So before heading off to college in the fall, factor in the hidden costs of college.