If your student is college bound this coming fall, then now is the time to become acquainted with the financial aid application process. The most important form is the Free Application for Federal Student Aid, otherwise known as the “FAFSA.
Here are some tips to prevent any problems and make sure your application is considered:
» Read more: Federal Student Financial Aid
Student financial aid offices deal in big numbers. Not just financial numbers, but massive files of FAFSA data coming into and out of large databases, hundreds, sometimes thousands of incoming and outgoing documents including student requests, requests for further information and financial aid award letters. Most college financial aid offices virtually hum with efficiency. With this in mind, it is also the role of the financial aid office staff to treat you, the consumer, with individual care and respect. Sometimes, in the hectic pace and hyper efficiency, stopping to help one student with a specific problem is like trying to stop a train to let a bunny cross the tracks. It’s a good idea and the right thing to do, but often more difficult to achieve than it should be. Train analogy aside, good financial aid offices have specially trained staff ready to help students and parents with special requests, one-on-one counseling, budgeting and financial literacy programs. In an era where most of the financial aid process is online and impersonal, meeting with a financial aid counselor or specialist can be a refreshing and informative experience for both the student and the parent.
It is a good idea for students to contact their financial aid office (FAO) before any problems arise. Being proactive in the financial aid process pays high dividends. If a family has experienced a financial hardship that was not adequately reflected on the FAFSA application or the CSS profile, it’s best to approach the FAO. In some cases, extraordinary expenses for medical care for a dependent child or spouse can be taken into consideration by the financial aid office and the Estimated Financial Contribution (EFC) can be adjusted. In the event of a catastrophic loss like the death or total disability of a parent, an FAO can advise on what documents are needed in order to recalculate the EFC. Students and parents are advised to be prepared, in almost all cases, to properly document any special request. A student’s burden is to make an appeal for reconsideration sound reasonable, well documented, and substantial. A minor loss of income, brief period of unemployment or the sudden desire to own a yacht are typically not considered extraordinary circumstances.
» Read more: Student Financial Aid – The College Financial Aid Office Is Under Utilized
It refers to the financial assistance that is given to the eligible citizens by the government. Often the aid given to them falls in the general category such as that of a scholarship that can only be summoned in specific conditions. The public education funds given by government to the students are excluded from this category.
People can also apply for this aid in certain circumstances that can range from physical impairments and illiteracy to the shortage in the demand for untrained work. When we talk in regards to the student financial aid, as the name suggests refers to the aid given for covering the educational fees and related accessories such as the books and accommodation in hostels. Many a times a scholarship is also included into this category.
» Read more: Check it Out – Financial Aid