~ Moscow High Pride ~
Financial Aid
Plan for College now!
Perhaps The single most
important step in Financing your
College or Trade School
education...
fafsa: free application FOR
Federal student aid
Parents and students...now is
the time to get acquainted with the FAFSA! Whether or not you feel you have a
need for financial aid, filing the FAFSA application should be at the top of
your college preparation list! The following is some basic information for all
high school students and their families...you are encouraged to explore the
FAFSA website further at:
http://www.fafsa.ed.gov/index.htm
FIND MONEY FOR SCHOOL
TAKE THE RIGHT CLASSES
CHOOSE A CAREER
How To Use The
Checklist
Q: Who should use
the checklist?
A: Students (of all ages) who haven't attended college or trade school,
and parents of students in elementary and secondary school.
Q: What is the
checklist?
A: A "to do" list, starting with elementary school, to help students
prepare academically and financially for education beyond high school.
Each section is split into subsections for students and parents,
explaining what to do and which publications or Web sites might be
useful to them.
Q: When should a
student or parent refer to the checklist?
A: At the beginning of every school year, and then more frequently as
college approaches.
Students...
To Do:
 |
Work with one of your parents to update your information in
FAFSA4caster at
www.fafsa4caster.ed.gov,
and continue to save for college. |
| Take
challenging classes in core academic subjects. Most colleges
require 4 years of English, at least 3 years of social
studies (history, civics, geography, economics, etc.), 3
years of mathematics, and 3 years of science, and many
require 2 years of a foreign language. Round out your course
load with classes in computer science and the arts. |
| Stay
involved in school- or community-based activities that
interest you or let you explore career interests. Consider
working or volunteering. Remember—it’s quality (not
quantity) that counts. |
| Talk to
your school counselor and other mentors about education
after high school. Your counselor can answer questions about
what classes to take in high school, how to sign up for
standardized tests, and where to get money for college.
|
To Explore:
|
Check out KnowHow2Go: The Four Steps to College,
which suggests some actions you can take as you start
thinking about education beyond high school. The online
version of the brochure is at
www.knowhow2go.org. |
| Get
answers to common questions about college: Read the “college
q&a question of the week” at
www.college.gov. |
|
Learn about managing your money in the “Financial Literacy”
section of
www.FederalStudentAid.ed.gov/preparing.
|
Parents...
To Do:
| Continue
to talk to your child about college plans as if he or she
will definitely go to college. |
| Keep an
eye on your child’s study habits and grades— stay involved. |
| Encourage
your child to take Advanced Placement or other challenging
classes. |
|
Watch videos for parents on the “News Parents Can Use” page
at
www.ed.gov/parents. |
| Add to
your child’s college savings account regularly. |
To Explore:
|
DEADLINES
If you want to be considered for aid from your
state or college, you must meet its FAFSA
deadline. If you plan to go to college in the
fall, your state financial aid deadline is
probably going to be between March and May; and
your college financial aid deadline could be as
early as February. The FAFSA site at
www.fafsa.ed.gov
lists many state deadlines and tells you how to
find yours if it’s not listed. For a college’s
FAFSA deadline, check the school ’s Web site or
contact its financial aid office. |
Have Questions About Federal
Student Aid And Want To Talk To A Real Person?
Call the Federal Student Aid
Information Center at 1-800-4-FED-AID (1-800-433-3243) or
1-800-730-8913 (TTY for the hearing impaired). Toll number:
1-319-337-5665.
Many of the publications
mentioned in this checklist are available to order or download for free at
www.edpubs.gov.
Find detailed federal
student aid information at
www.FederalStudentAid.ed.gov.
Western Undergraduate Exchange
Program (WUE)
The
Western Undergraduate Exchange (WUE) is a program of the Western
Interstate Commission for Higher Education (WICHE). Students who are residents
of WICHE states are eligible to request a reduced tuition rate of 150% of
resident tuition at participating two- and four-year college programs outside of
their home state. The WUE tuition rate is not automatically awarded to all
eligible candidates. Many institutions limit the number of new WUE awards each
academic year, so apply early!
WICHE states include: Alaska, Arizona, California, Colorado, Hawaii, Idaho,
Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah,
Washington, and Wyoming.
http://wiche.edu/wue/students#what
What families should ask about
financial aid
{Reprinted
from the College Board News, March 1999. Volume 27, Number 3. Published by The
College Board, New York, New York.}
Applying to college is such a
complex process that even knowing what to ask is a daunting obstacle for many
students and families. Financial aid policies and procedures are varied and ever
changing, often with unanticipated implications. For example, a common source of
misunderstanding is the extent to which financial aid plays a role in college
admissions decisions. Without asking the right questions up front, families can
make mistaken assumptions about whether institutions are need-conscious or
need-blind.
What are the key questions that
families need answered? The College Scholarship Service (CSS) has prepared a
list of financial aid questions for high education consumers when applying to,
deciding upon, and going to college.
"Students are looking at multiple
applications, multiple deadlines, and multiple policies without having a clear
set of expectations shaped by critical questions," said Jack Joyce, manager of
communications for CSS. "They need the full picture before they decided where to
make their financial commitment."
A working group of financial aid
professionals in the CSS Council prepared the list as a way to standardize the
information gathering process so that families are informed and understand
college costs, financial aid, and even how it affects the application process.
For instance, families may not realize that financial aid deadlines can precede
application deadlines and that deadlines may differ depending on the college’s
policies for institutional aid, the acceptance of FASFA, and/or the CSS PROFILE.
In addition, they may not realize that
renewal of a first-year
financial aid award is not automatic.
"At the college selection point
and when the student leaves home, there are questions they need to ask to
ensure they fully understand the cost of college," Joyce said. "They need to
be aware not only of directly billed costs such as tuition and fees but of
everything they are expected to pay for over the following nine month –
books, supplies, transportation, and personal expenses."
The list of 20
consumer-oriented questions listed here also represents a set of disclosure
guidelines—a helpful tool for college admissions and financial aid
professionals in communicating with families. For further information,
contact Dorothy Sexton, director, CSS Administration, at
dsexton@collegeboard.org.
Questions and guidelines:
Phase 1: Applying to
College
These questions need to be
answered in this phase:
~ What
institutions fit my child’s academic and social interests and educational
objectives?
~ How much can we commit financially to help our child meet his or
her educational goals?
College admissions and
financial aid advisers should provide the following information to answer
these questions:
|
The average costs for
tuition and fees, books and supplies, room and board, transportation,
and other personal expenses for the first year. How
much will total costs increase each year? |
|
What are financial aid
decisions based on at a particular institution? Need-blind financial
status has no impact on the admissions decision.
Need-sensitive/need-aware financial status can be a factor in the
decision. |
|
How is eligibility for
college-sponsored aid programs determined and what college-specific
adjustments, if any, are made to standard need-analysis formulas? |
|
What types of financial aid
programs does the institution offer and does the institution offer merit
or other scholarships that do not include consideration of financial
need? |
| What forms are required
to complete the financial aid process and what is the priority deadline
for applying for financial aid? When will families be notified about
financial aid decision? |
Phase 2: Deciding
During this phase, families
have decided whether it is financially possible for the child to enroll in
the college or university that is the best fit academically and socially.
To
make this decision, the following information from the colleges or
universities they are considering is helpful:
|
How much financial aid will
the student receive? Will they be billed for their share of the costs?
Are there any other costs they should plan for that are not accounted
for in the aid offer, such as expenses for books, transportation, or
personal needs? |
|
If parents cannot meet the
financial responsibilities from current income or assets, what financing
options are available to help them pay their share? |
|
Why does the aid package
offered by this institution differ so much from this other college when
costs at the two schools are so similar? |
|
If the financial aid offered
is insufficient to make it possible for our child to attend this
institution, will the aid office reconsider their offer? |
|
What are the terms and
conditions of the aid programs included in our child’s aid package (e.g.
treatment of outside scholarships, loan repayment policies, renewal
criteria, etc.)? |
|
How will our child’s aid
package change from year to year? How will cost increases impact the aid
package? What will happen if our financial situation changes in another
year?
Phase 3: Before Leaving Home |
By the end of this phase of
the process, the family, having already committed to a single college or
university, should be clear about their financial obligations and how to
meet them. Getting answers to the following questions from the student’s
chosen college should be helpful:
|
When can we expect to
receive bills from the institution? How many times a year will we be
billed? Are late fees assessed if the bill is not paid by the deadline?
Does the institution accept payment via credit card? Is there an option
to pay monthly? |
|
Is all financial aid
credited to our child’s account, or will our child receive checks for
some or all of the financial aid awarded? On what schedule are checks
issued? Does the institution help students manage their money
responsibly. |
|
How much money will our
child need during the first week of school for things such as books,
parking permit, etc.? Can financial aid be used to pay for books and
supplies? Can books and supplies be charged to our child’s account? What
are the typical out-of-pocket incidental expenses incurred during the
year by most students? |
|
Is there a bank on campus?
An ATM? |
|
What will happen to the
financial aid award if there is a significant change in family financial
circumstances? In our child’s or sibling’s enrollment status? |
|
Our child was awarded
Work-Study. How are jobs assigned? How many hours per week will our
child be expected to work? |
|
What are the academic
requirements for renewing the financial aid award? |
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