THE FINANCIAL AID HURDLE

Because of the rising cost of attending college, more students are depending on financial aid to meet college expenses. Financial aid comes in the following forms:

• GRANTS which are based on financial need and do not have to be repaid.
• COLLEGE WORK-STUDY PROGRAMS which provide minimum wage for you in on-campus jobs.
• LOANS which have reasonable interest rates.
• SCHOLARSHIPS which may be awarded according to need and achievement or may be awarded strictly on achievement.

APPLYING FOR FINANCIAL AID:

The July, 1992 legislation mandated the creation and use of ONE form to apply for federal financial aid. The full application process will also now require students to file additional, supplemental forms in some cases. The forms are described below:

FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

All students applying for any federal financial aid MUST file this form. The FAFSA is the only application students must complete to be considered for all federal financial aid including: Federal Pell Grants, Federal Supplemental Education Opportunity Grants (SEOG), Federal Stafford Loans (including the new unsubsidized Stafford Loan), Federal Perkins Loan, Federal Work-Study, and other federal financial aid programs. STUDENTS WILL NOT BE CHARGED A FEE WHEN FILING THIS FORM. When completing the FAFSA, students can send data to six universities. If they wish to have the data sent to additional institutions, that can be accomplished by following instructions on the SAR (Student Aid Report). Aid applicants should expect to receive the SAR within 4 weeks following application.

SUPPLEMENTAL FORMS:

Various universities are requiring supplemental forms, either their own form or many times the PROFILE.

The usage of supplemental forms allows the colleges who need it to obtain additional information that will be used to award their own scholarships and grants. Admission and financial aid officers should be able to inform you of specific institutional requirements. STUDENTS MAY BE CHARGED A PROCESSING FEE FOR THESE FORMS.

Both the FAFSA form and the PROFILE form can be obtained from the College Counseling office The PROFILE is available in September and the FAFSA in late November or December. Begin this process early!! The student who files the FAFSA on or immediately after JANUARY 1 has the best chance of receiving a larger portion of grant money in his/her aid package. Remember, each college has its own financial aid deadline. Be certain to keep track of the various deadlines. Strive to provide clear and accurate information to avoid delaying the process.

SCHOLARSHIPS:

The scholarship process requires time, work, and dedication on the part of you and your parents as well as school personnel. Many times those who are the most organized and the most diligent with the application process are the ones who receive scholarships! You and/or your parents have the responsibility for:

• Investigating scholarships via printed books/publications
• Contacting the financial aid officer(s) of the college(s) begin considered
• Reading information about scholarships which are mailed to our school and posted on the College Counseling Bulletin Board
• Listening carefully to daily announcements, sharing information and investigating applicable scholarships, noting deadlines for applications, procedures, and necessary information
• Investigating possible scholarship opportunities available via your parents' employment, the college or university you will attend, community organizations, and other sources

FINANCIAL AID SUMMARY:FINANCIAL AID SUMMARY: 

• Know your forms.
• Complete and file a FAFSA and, if necessary, a PROFILE form or the college's own supplemental form.
• Watch deadlines.
• Be accurate.
• Make copies of everything you mail.
• Keep copies of income taxes.
• Register for the draft if you are a male.
• When questions arise, ask your college financial aid officer for help.
• Keep in mind that the world of financial aid is constantly changing. By the time this information is available, it may already be out-dated.
• Do not be afraid to apply to a college because of prohibitive costs. Go ahead and apply for financial aid to that school and with the financial aid package that school offers, that school might become a viable possibility.