The Race for more Aid

Your student is preparing to go off to college in the Fall, has the school picked out and acceptance in hand.  Now the questions looms, how to pay for it??

The first thing you need to do is complete the Free application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov The application for the 2015-2016 year became available starting January 1st.  The application is the Department of Education's site and has a nifty tool to pull your IRS tax information into the application.  You need to have already filed your taxes for it to work, but you can use estimates based on last year and once you file your taxes go back onto the site and update.  

The next thing you need to do it find out what additional steps need to be completed at the school your student is going to.  Check with the aid office, they typically have a website dedicated to spelling out the steps or you can always call.

Once you know what additional forms need to be completed, DO IT.  Don't wait on submitting, you could miss out on some opportunities if your student isn't "complete".  

Check with your local librarian, guidance counselor or State website (I suggest all 3) to find private scholarship sources to apply for.  If your student writes a really strong essay, they can use it again and again to apply for scholarships if it fits what they are asking for.

Check a search engine for scholarships like www.fastweb.com cast your net wide to find obscure little scholarships that your student would be eligible for.  I received in my undergraduate program a scholarship for Brown Eyed girls ~ legitimate scholarship that provided $500 a year that added up to a whole lot of books by the end of my degree!

Make sure that your student applied for any scholarship available through the school of choice and look over all paperwork that comes in for deadlines.

Once you have your award offer in hand, remember ~ it's not a bill, it's an award and not all awards are equal. 

If your student is applying to more than 1 school and you are deciding which school offered the "best" $$ you have to look at total cost for the year and then scholarship offered.  What looks like a huge scholarship may only cover 10% while a small offer and a low cost school could be covering 75%.  You also have to take into consideration Fit.  If the school is not right for your student and is not going to offer the degree they want, services they need or climate they are used too (climate can be cultural, size of school and Temperature) then sending them off because they offered more scholarship funds is spending good money after bad.  You want your students’ college experience to be a positive one.  If you pay out of pocket even $500 a semester to find out after a year it's not a good fit and your student is going to transfer you have just wasted your money. 

All things to keep in mind when navigating the financial aid waters ~  

Don't bame me for your poor planning!

Don't get me wrong, I wish I could do more for you, but when you wait to apply for financial aid until the last possible minute, don't apply for private scholarships and have not saved any $$ towards your education...why would poor planning on your part be my responsibility to fix??? IT ISN"T! 

Here is the scenario, Joe Blow from Idaho wants’ his son to come to my college.  My college is expensive, he can possibly get state grants, private scholarships, Vocational rehabilitation funding, and we also provide very generous scholarships...we don't cover the whole bill.  We are not a charitable foundation; we are a college that needs to make sure we have enough cash flow to keep us going... You waited until mid-June to apply for aid; -our priority deadline is March 1st!  You want a full ride, we can offer you half.  You think I am not being generous enough and call the President.   Will you ever learn that old saying "early bird gets the worm?"  Will you ever teach that important trait to your kid?? Not likely but I have hope.

So here goes, for all of you out there sending your little kittens off to college for the first time, here are the rules.

1. Know the deadlines, stick to them ~ they are not suggestions; if you had a deadline at work would you blow it off?
2. Review the financial aid website for your school, get to know what the steps are for aid and follow them.  If you had a task handed to you to complete and given a manual...would you just wing it?
3. Contact the financial aid office to make sure you've completed what you need to do, Don't HOUND your financial aid office by calling every day.  If your boss gave you a list of task's to take care of, would you follow up often to get the list again?
4. You've received some paperwork from the financial aid office and it looks like someone made a mistake, you should call and check with the office to find out.  The office either confirms that it is correct or confirms that it is an error and corrects it.  You do not then call every other office to complain (unless you actually get horrible customer service).  If you received a polite apology and immediate corrections are made, thank the person for helping and leave it alone.  The financial aid office is staffed with people, not robots.  Errors happen on occasion ~ we are all human, if you call and continue to harass the staff after they have fixed the issue ~ that makes you a problem that they do not want to deal with, and when future opportunities open up, you will end up on the bottom of the list!   (You catch more flies with Honey, vinegar makes you stink!)
5. Even with all the extra effort, you find that you still have a gap in funding and it looks like you won’t be able to send your child.  Call the financial aid office, tell them exactly how much you still need to come up with and ask them if they can point you in the right direction to find the funding.  If they still have scholarship funds available and the amount is reasonable, they will add it  If funding is not available, they will let you know about private scholarships, loans etc.  (look at #4, if you gave them vinegar the last time you called ~ you are out of luck!)

Happy hunting

Don't Pay for Financial Aid assistance

Sadly, companies are springing up all over the place lately offering to assist you in finding scholarship and financial aid for a small fee....DON"T DO IT!!!!  Many of these companies are just scamming you and will not be able to provide you with any additional assistance if any at all-They are taking your money and running.  Other companies will assist you, however all of this information is available to you already ~ you do not need to pay them to get the funding to pay for college.  Start by learning about the federal funding available at http://www.fafsa.ed.gov/  There are additional links available to you through the Department of Education like http://federalstudentaid.ed.gov/  Both of these websites are direct sites for Federal aid and you can rest assured especially if you check that your using a .gov site which indicates that is is indeed a Government site and note a fake.  You should also check with your local librarian for scholarships through the community ~ many will have listings available at the Library.  You can use the world wide web to also search for scholarships ~ but always be careful when entering your information that the site you are using is reputable http://www.fastweb.com/ is a good search engine to use and it allows you to search for scholarships using a selection of criteria that you choose.  I strongly suggest casting your net wide when it comes to private scholarships! 

Again, have to state that you NEVER should send in any $$ for financial aid ~ No application fees, no service fees ~ NO FEES.  If they are asking you to pay a fee for a scholarship, they are NOT a reputable scholarship organization.

Good Luck in your funding search, and remember that your financial aid office at the college of your dreams wants to ensure that you come to their college. ~ they are your partners in this process.

Re-thinking this Blog Thing...

OK, I love shopping and all that but have to say after talking with families and students about financial aid all day and then hearing from friends and families about their Financial Aid questions at night...got me thinking.  Why am I fighting the wave, I need to just stand up and surf!  so here is my informal information on financial aid...  Federal Aid is not going to cover all of your expenses no matter how "poor" you cry.  You need to be looking out for private scholarships, incentives through your work, saving saving saving...and being smart with the money you do have.  Parent's need to start saving for retirement, don't wait until your kids are out of college, by then you have missed your prime opportunity to save.  (Don't you ever listen to Suzie Orman??) Anyway, start looking for private scholarships when your kid is a Junior in High School.  Get to know the deadlines for applying and what application materials are requested.  Become good friends with the local librarian ~ she's the one who keeps a list of scholarships available through the town's local Elks, Lodge, Women's club etc.  Set your net wide, for every 20 scholarships you apply for, your lucky to get 1 or 2 .  Look into borrowing smart, check out the interest rates for Parent Plus loans (right now they are at 7.9%) www.studentloans.gov You may not be able to get a better rate with a private personal loan or re-finance...but who knows, check into it.  If you have a financial advisor, you should be talking with them about your goals including your intent to support your child's education, or not.  Just to give you a heads up on the whole Federal aid thing, at most for the 2012-2013 year you MAY be eligible for a Pell grant of up to $5,550 and your student if under the age of 24 can borrow $5,500 of Direct loans their freshman year.  If your child is planning on going to the state school and cost are low for tuition and fees you could be OK. But, don't forget about the other costs like books, supplies, computer, transportation and they all have to eat, whether they are living at home and commuting or living on campus, these additional expenses can add up quickly.      My advice to you is again.  1. Start Early 2. Find out about the total costs of the school 3. Investigate private scholarships 4. Know the deadlines and complete all the forms required by the schools Financial aid office 5.  Keep your fingers crossed and pray!

Good Luck

What a day!

Oh Dear Blog, I've Missed you!  It's been a long time hasn't it, but I am back!  My husbands birthday is tomorrow and I still haven't gotten him a gift..I know...strange that a shop-o-holic hasn't shopped yet for her hubby.  I have a hard time shopping for him, he's not that easy to shop for.  He never tells me what he want's until the very last second and purchases what he wants/needs as he wants/needs it.  He only likes practical gifts etc...You have met this type of guy...anyway...He cut me a break early, his hammer went missing 2 nights ago...Now I have something to get for him...wonder if he minds if I pick up a pink one with sparkles :)

Just kidding, I am getting a hammer ~ a very normal everyday mans hammer AND new shorts for the summer, I just received an on-line coupon for my favorite store "Label Shopper".  I'm sure I can pick him up something great to wear that is both practical and fits into what I like to buy ~ CLOTHES!

Happy Reading

Oh, My Aching Mattress

My husband and I have been fighting/bickering lately about everything under the sun...My husband found the perfect relationship band aid this weekend at Bob's in Springfield Ma.  A Bob-o-Pedic mattress.  Thank you Bob, you saved us from certain divorce.  We haven't slept this good in a very long time.  There are some small issues that you should know about before making a purchase like this.  The mattress holds onto heat like a thermos...this may be too much for those of you who "run hot" but for me, WONDERFUL.  It is like sleeping in a heated cloud.  My old mattress was HORRIBLE and OLD...I would wake up in the morning and hobble for the first 20 minutes and was waking up earlier and earlier just to get out of bed ...that's not good.  This mattress has made all the difference in the world, I can now sleep late "er, I get up at 5:30 anyway".  Also, you are going to find it very difficult keeping the fitted sheets on without the corner straps...But the Mattress is so soft (has a velvety cover) and makes it very hard to argue with your mate while your being cradled in glorious, velvety Heaven.   I believe if my husband and I were playing chess ~ Check Mate, Game~Match~Win.  Hands down, he won this match...or did he?

Shopping, My BFF!

Oh, how I've missed you...it has been far too long.  I feel I must explain that I was forced to cut back on my one true love this year while I finished a Master's Degree program.  Since the diploma arrived on Friday I have been searching for the best frame to place a copy in my office, home office and guest room (I like to rub it in a bit).  Searching in craft stores, consignment stores and retail I've found that what I am drawn to purchase depends on where it's going to hang. 

While on such a shopping trip I visited my favorite consignment store located in Putney VT.  Swirl, where the owner/operator Lisa smiles brightly when I enter...much like "Cheers", she knows my name.  While I am looking for a specific item I could not help myself to be drawn to the most amazing chair.  Shaped like a shoe, this purple and black creation would have been a wonderful fit to my decor in my former 20 something life.  Now pushing 40, felt a tang of sadness that 1. will not work in my home 2. already on layaway...Sad!.  I moved on still in search of the perfect frame and found myself standing in front of the jewelry case...beautiful necklaces beckoned me to try them on...How could I possibly resist!..I did end up purchasing a lovely necklace and have since realized that it actually does go with everything I own...I do tend to gravitate towards the same classic styles.  While I did not find a frame that day, did find something PERFECT. 

I do plan to use this blog to point out wonderful shops that I find, and if I eventually get savy enough post pictures of my finds...I ask that you follow on my journey and if you are in the area, stop by one of my featured shops.