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Posts Tagged ‘financial aid’

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HS Senior Weekly College Planning

January 9th, 2010 by Krayton M Davis | 2 Comments | Filed in College Planning

 

College Planning Tip for the Week of:
Sunday January 10, 2010
 
Get Ready to Submit the FAFSA Form

Use this month to ready yourself with options to pay for college The US Department of Education’s FAFSA form will be required for all Federal Aid Programs and many scholarships.

It is used by colleges to determine your financial aid eligibility.

The FAFSA form uses a methodology to calculate the cost of education at the school you are attending and the expected family contribution towards that cost. Your school will use the form to award what financial assistance you may need.

Preparing to Submit the FAFSA form:

  1. Register for a PIN
    so that you can sign your FAFSA form and other loan documents electronically. It will speed up the process:
    www.pin.ed.gov

  2. Start gathering the documentation needed to complete the FAFSA form:
    • social security number
    • driver’s license number (if any)
    • W-2 Forms and other records of money earned
    • income tax returns
    • parent’s federal income tax returns (if you are a dependent student)
    • untaxed income records
    • bank statements
    • business and investment mortgage information, business and farm records, stock, bond, and other investment records
    • alien registration card (if you are not a U.S. citizen)

      link to the FAFSA site to review required documentation

  3. Find your school codes:
    you will need this information so that your FAFSA filing can be sent to the schools of your choice. Again, the colleges use this information in designing a financial aid package to help pay the cost of college attendance.
    www.fafsa.ed.gov…/fslookup.htm

  4. View interactive worksheets:
    you can use these worksheets to help prepare for the real submission
    www.fafsa.ed.gov/worksheet.htm

  5. Register for Selective Service (male students):
    Young men that have reached age 18 must register with Selective Service before submitting the FAFSA form. This is required by law:
    www.sss.gov

 

Submitting the FAFSA form:
(submit anytime from January 1)

Submit your FAFSA form as soon as possible. Don’t wait to hear whether you have been accepted or not by a college. You want the FAFSA form sent to the school so that they can assemble an award package as soon as you are accepted:

FAFSA online application (Department of Education):
www.fafsa.ed.gov/
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Stressed Out By College? You’re Not Alone!

December 11th, 2009 by Matthew C. Keegan | 3 Comments | Filed in College News
A recent survey of students who did not complete their college education revealed that many had a difficult time balancing work, study, and family responsibilities.

A recent survey of students who did not complete their college education revealed that many had a difficult time balancing work, study, and family responsibilities.

On Wednesday, The New York Times published an article – College Dropouts Cite Low Money and High Stress – which explained how difficult it is for some college students to finish their schooling.

Granted, a significant number of students come from families who can pay for their education and don’t have anywhere near the financial pressures many of their classmates are facing today. But, a large number of students receive no financial aid and cannot count on family support and they’re the ones most at risk for dropping out of college.

Public Agenda

The Times based their article on a report from the nonpartisan Public Agenda group, an organization founded in 1975 by author and social scientist Daniel Yankelovich and former Secretary of State Cyrus Vance. Public Agenda’s mission is to find out what average Americans think about a variety of issues including religion, politics, education, immigration, and foreign policy.

Public Agenda surveyed more than 600 people, all of whom were between the ages of 22 and 30. This is important to note because high school grads who complete their college education in four years time are usually 22 when they finish. The survey compared people who started their higher education and did not complete it with those who obtained either a two- or four-year degree.

Uninterested Students?

The survey threw out the idea held by many that students who drop out of college aren’t interested in completing their education. In reality, a majority of students must juggle work and school, with some also raising families.

Public Agenda says that six of ten who dropped out received no support from their families while six out of ten people who did complete their education were able to rely upon their families for financial support. Most of those who quit school said that it was too difficult for them to support themselves and pay for their education, thus they had to prioritize making a living right now while delaying or canceling their college plans.

Each of the people surveyed was also asked to rate twelve possible changes that might help them complete school. The top answers included qualifying for student aid, trimming college costs, child care, and offering more classes at night and on weekends. Surprisingly, interest in online classes was low and not many cited the college application process as being an important enough factor to hold up their education.

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Last Ditch College Funding Ideas

August 20th, 2009 by Matthew C. Keegan | 5 Comments | Filed in Personal Advice

What a shame it is to hear that many students who are just days away from starting college still don’t know what their tuition bills will be for this coming academic year. That delay, which has been attributed to college budget cutbacks which are still being made, gives students and their families little time to explore options in a bid to help them fund their education.

financial aidJust last week we published an article titled, “What Should You Do When College Aid Isn’t Enough?” which listed four options that students can explore if their funds fall short. Admittedly, the last step, switching schools probably didn’t go over too well, but if you can’t pay the tuition, then you aren’t going to class this fall. At least at your intended school.

Don’t Give Up!

As a follow up on the previous article, SayCampusLife.com has come up with some more details to help you further your education this fall, so let’s quickly explore what they are:

Get Reviewed – Even if your college comes with a financial aid figure that isn’t generous enough, you can challenge their assessment, but you’ll need to do it fast. You’ll should write a letter to the college and ask for a “professional judgment review” in order to get a second chance. Expect to offer proof as to why additional funding is needed; perhaps the school isn’t aware that your family finances have turned for the worse over the past few months.

Ask For Help – If you work part time, especially for a national retailer or food service company, you may qualify for financial assistance through their own college aid program. McDonalds, for one, is a strong supporter of college education, helping employees further their careers. Some companies may require you to stay on part-time while attending college, but perhaps that was part of your plan all along.

Community College – If funding dries up, then contact your local community college immediately especially if you are a freshman or sophomore. Most community colleges start a week or two after public colleges and universities get their start, therefore you may be able to apply, register and enroll quickly especially if the school has an open enrollment policy. Take only those classes which you KNOW can be transferred back to your school. Make sure that you take a leave of absence from your school and work over the next few months to get your finances in order so that you can return as soon as January.

Borrow Money – If you still don’t have enough funds to pay for school, then consider borrowing the difference. However, instead of exploring student loans and other debt options only, think about asking a family member or friend for assistance. It can’t hurt to ask, but if you do get a loan then make sure that you put everything down on paper – why strain a friendship if repayment terms are not clearly spelled out?

Time is of the essence and you have none to waste. Even if you haven’t received notification from your school yet, be prepared to act – fast!

Adv. – With the start of college imminent, do you have all of your finances in order? If not, you may need to secure a private student loan to help close the financing gap. Please visit SayStudent.com for review your private student loan options.


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Off To College: Important Papers

August 10th, 2009 by Matthew C. Keegan | 6 Comments | Filed in Personal Advice

The following is one in a series of articles for students heading off to college. To help make your transition to school a smooth one, why not download your free copy of our College Moving Checklist today?

college studentWhen heading off to college you’ll be bringing along plenty of clothing, bedding, personal effects, your favorite technology and a whole lot more. But you’ll also need to bring along important papers including documentation. What exactly should you bring? And, should you bring originals or copies?

Let’s take a look at some of the documentation you should bring with you when you head off to college this semester:

Driver’s License — Whether you will be driving to school or not, your driver’s license is one of the most important identification tools that you possess. Likely, you can pull your license out of your wallet in a moment’s notice, but is it getting ready to expire? Is the information on your license accurate? Check your vehicle registration and insurance information too before heading off to college in your ride.

Social Security Card — Your social security card should be kept with your important papers, but this group of papers doesn’t need to go to school with you. If your parents have a fireproof box with other family documentation, then keep your card in it. The Social Security Administration encourages you to know your nine-digit number, but they discourage people from carrying their cards with them.

Credit/Debit Cards — Credit and debit cards can come in handy and should be up to date and activated.  Does your student credit card offer a large enough credit line in the event you need to tap it for an emergency? Bring your checkbook with you to school too.

Medical Insurance Card — When an emergency hits, you’ll need to show some personal identification if you must go to the hospital or clinic. You’ll also need to show an updated medical insurance card if you have one.

School Registration, Financial Aid — Leave nothing for chance by bringing along a copy of your college acceptance letter and related financial aid information.  If you have already registered for classes, then bring that information with you too. Make sure that you save all related email messages too.

Student ID — New students will get their college identification card for the first time while returning students may need to get their cards updated for the fall semester.

Insurance Documentation — If you are renting an apartment this semester and you have taken out a basic renter’s insurance policy, then a copy of that paperwork should be brought with you.

Once in school, you’ll want to leave some of your important documents in a safe place, perhaps in a lockbox at your local bank or other secure location at school. Identity theft is a big problem which can happen if your paperwork isn’t in safekeeping.

Adv. – With the start of college imminent, do you have all of your finances in order? If not, you may need to secure a private student loan to help close the financing gap. Please visit SayStudent.com for review your private student loan options.


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