What to remember when seeking out college financial aid

August marks the nearing fall semester for many returning college students. While families save and plan long-term to afford tuition, what can students do to find last-minute financial aid before or even during the school year?

How to Appeal for More College Financial Aid author Mark Kantrowitz outlines the timeline for Free Application for Federal Student Aid (FAFSA) submissions and the personal circumstances that can be referenced when seeking out additional financial aid.

"Contact the college financial aid office and let them know about any changes that can include a change from the prior year, which is the year upon which the FAFSA data is based, to the present year. Like job loss or pay cuts, anything like that," the student loan expert tells Yahoo Finance. "As well as anything that differentiates you from the typical family, such as, you have high unreimbursed medical or dental expenses, you have a special needs child or elderly parent that you're covering extraordinary costs for — anything that differentiates you from the typical family."

Kantrowitz highlights the forward planning students and families can employ when considering a college and rising tuition costs.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Luke Carberry Mogan.