Tips to Get Money for College 14: Guidance or Financial Aid Counselors

Saturday’s we share tips of cautions to facilitate getting scholarships or avoid problems

Julia served as a guidance counselor at a high school. She realized that she could have made more money working in business or private practice. She found great satisfaction serving the youth of America. She especially enjoyed instilling hope and confidence in youth at risk. Frequently, she felt overwhelmed by how many students she had to counsel—and how many lost hope and did not care. She relished the ones who really tried to succeed and worked hard. She gave extra effort for those.

Get the Most Out of Your Guidance Counselor

We wish to explore how to better take advantage of their expertise and experience.

• Build a relationship of trust with the guidance counselor
• Outline your plan to identify and apply for 100-150 scholarships
• Ask for their advice, listen to what they say, and act upon their guidance
• Respect how busy they are and do not waste their time
• Do your part without relying on them to do your work for you
• Avoid trying to defend your essays, themes, power statements and other materials
• Report back regularly on action you took and how much money you earned
• Express appreciation to them and the principal for their efforts on your behalf

Tasks Counselors Can Help You Perform

High school guidance and college financial aid counselors can help you in many ways. Some seem obvious while others may surprise you. For example, you may ask them to

• Share tips about how to complete a Free Application for Federal Student Aid
• Share sources of grants, scholarships, and other financial aid
• Edit your master application and essays for content, grammar, and spelling
• Help you identify people who can write you letters of recommendation
• Review your letters of recommendation
• Refer you to the best test preparation programs to get higher ACT or SAT test scores
• Prepare you to apply to the best schools for your field of study
• Motivate you to keep applying when you want to quit

Monday we will share the Association of General Contractors of America source of money

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Reusable Materials 33: Additional Uses for Reusable Master Applications

Thursdays we discuss how reusable materials help you WOW committees and save time

Corinne met with our staff multiple times to apply for scholarships. She prepared her master application  over several weeks. She looked up all the addresses to past employers, schools, and references. She also perfected the spelling, grammar, and wording of her answers to make them more impressive. She also used her master application to apply to colleges and jobs. Her master application impressed people so well that she was accepted to every school she applied to, and three jobs while she was in school.

Additional Uses Shared in Previous Posts

In review, your master application consists of three parts:

• Part A: contains the answers to almost every question you will find on a scholarship, employment, or admissions application
• Part B: includes copies of school transcripts, lists of awards and competitions in which you participated, recitals or theater presentations in which you performed, and other activities
• Part C: describes the themes in your life using value statements to outline your accomplishments and contributions to organizations

In  previous posts, we identified several ways that you can use your master application. They included:

• School admission forms
• Online employment applications
• Resumes and cover letters
• Gas, electric, water, sewer, telephone, and other utility applications
• Work performance appraisal
• Professional profiles on LinkedIn, company documents, and professional associations

More Uses for Your Master Application

In addition to these, you may use your master application in the following ways:

• Writing a biography or personal history—The facts you include in your master application provide the outline, facts, addresses, dates, and experiences of your life’s history
• Documents for government assistance—You may use your master application to apply for WIC, WIA, Temporary Assistance for Needy Families, Community Action Programs, and other government assistance programs
• Background for a Business Plan—Your information may help you complete the biography portion of a business plan to explain the qualifications to warrant giving you a business loan, investing in your business, or buying from your business
• Other opportunities

Saturday we share tips to work with high school guidance & college financial aid counselors

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Sources of Money 32: Electronic Documents Scholarship Foundation

Tuesday’s we review a source of financial aid to help you pay for college

Joel applied for several scholarships to attend college. He received more than $78,000 in awards for his undergraduate program. He also earned $48,000 for his master’s degree. He even received a teaching and research assistantship for his doctoral program. Joel created an outstanding master application with value statements highlighting his leadership, academic, athletic, and service contributions.

Characteristics of EDSF

The Electronic Documents Scholarship Foundation sponsors multiple awards. They describe themselves as

“The EDSF scholarship program was initiated in 1999 to recognize and support the next generation of professionals for the Document Management and Graphic Communication industry. The industry encompasses the wide range of businesses and professionals involved in the creation, management, production, distribution and storage of print and electronic documents.

The EDSF scholarship program is supported by companies and individuals involved in the Document Management and Graphic Communications industry.”

The foundation lists a minimum of 40 available awards valued between $1,000-5,000. All the awards use the same on-line application. You must apply between mid January and the first of May. Each award recognizes a different aspect of electronic documentation.

They advise “All of the scholarships…are Document Management and Graphic Communications Industry Scholarships. By completing the scholarship application, you are applying for all of the scholarships [listed]. Note: Scholarship names and award amounts are subject to change.”

 

Samples from the Electronic Documents Scholarship Foundation

The EDSF web site lists the following awards and more:

• EDSF Board of Directors for Document Management & Graphic Communications
• Hoods Memorial for all Document Management and Graphic Communication careers
• Lynda Baboyian Memorial includes students for Document Management & Graphic Communications
• OutputLinks Communication Group Sponsors for qualified student worldwide for any field of study or degree program

They also sponsor research grants, mentor programs and an excellence in education award.

 

Disadvantages of Electronic Documents Scholarship Foundation

• Generally all students must be studying a field related to document management and graphic communications.
• Only provides information about 43 awards, scholarships, and grants

Thursday we highlight new ideas about additional uses of your reusable master application

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Caveat Emptor or Buyer Beware 21: Tax Implications from Financial Aid

Saturday’s we share a tip or caution to facilitate getting scholarships or avoiding problems

John worked hard to get scholarships, grants, and other financial aid. He worked with his high school guidance counselor, his mother, and several of our coaches. As a result, he earned $310,000. He only used $168,000, because he did not go to three of the schools that gave him money. Luckily he earned the money over a three and a half year period, but received it all in one year. He and his parents forgot about the tax implications of the money he received.

Tax-Free Portion of Scholarships

We are not tax experts and encourage you to consult with certified professionals. The Internal Revenue Service states

“A scholarship is generally an amount paid or allowed to a student at an educational institution for the purpose of study. Qualified scholarship and fellowship grants are treated as tax-free amounts if the following conditions are met:

• You are a candidate for a degree at an educational institution that maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance at the place where it carries on its educational activities; and
• Amounts you receive as a scholarship or fellowship grant used for tuition and fees required for enrollment or attendance at the educational institution, or for fees, books, supplies, and equipment required for courses at the educational institution.”

Portions of Financial Aid Considered  Income

“You must include in gross income amounts used for

• Incidental expenses, such as room and board, travel, and optional equipment
• Generally payments for teaching, research, or other services required as a condition for receiving the scholarship or fellowship grant
• You must include in income any part of the scholarship or fellowship that represents payments for services
• Generally, report scholarship income on the ‘Wages, salaries, tips, etc.’ line of your tax return
• Review instructions on your tax form to determine how to report any income from scholarships

For more information refer to Publication 970, Tax Benefits for Education.”

Tuesday we will share Electronic Document Scholarship Foundation as a source of money

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Reusable Materials 33: Questions About Finding Scholarships

Thursdays we discuss how reusable materials help you WOW committees and save time

Alan wanted to find a variety of financial sources to help cover his college costs. He obtained a tuition scholarship for three schools and selected the one that gave him to most money. He still wanted money to pay for housing, books, lab fees, food, transportation, and more. We helped him combine additional scholarships, some grants, and educational reimbursement. As a result, he attended college without having to pay very much of his own money.

Q: Are there more sources than scholarships, grants, & loans?

Yes, several sources of financial aid exist. Some provide you with the cash. Some pay it directly to the school, housing unit, or other vendor. Some do not pay in cash, but provide products in lieu. Additional sources of money for college include:

• Educational reimbursements paid to employees to gain additional skills required by the company. Educational reimbursements typically pay an employee a portion of the tuition (60-80%) based on the grades you receive. Usually the employee must pay the tuition first and receive the reimbursement after the class is over.
• Work-Study Programs is a federally funded program in which a student works on campus in exchange for tuition, housing, or other discounts. The federal government, then, reimburses the college for the money spent.
• Work your way through college, while out of favor with many students who prefer loans to work, still provides money to help pay for college. Working through college also provides a better resume than borrowing.
• Products in lieu of cash also provide a way to get through college. Dell Computers, for example, will award a laptop to students who qualify.

Q: Where can I found sources of financial aid?

Lots of organizations can help you find sources of financial aid:

• High school guidance counselors
• College financial aid counselors
• Search engines and web sites
• Human resource specialists
• Local service organizations and clubs
• Battered or abused women’s organizations
• Community action services
• Scholarship and financial aid books

Saturday we share a warning about tax implications with scholarships and other financial aid

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Sources of Money 31: Scholar-Box Provides Tips & Sources of Money

Tuesday’s we review a source of financial aid to help you pay for college

Jenny used some of the standard scholarship search engines to identify sources of financial aid for school. She avoided paying a fee for help to find a scholarship, because she read the warnings against paying an advisor or a fee to get scholarships. The consequence of not being willing to pay—she received 100’s of spammed email offers from schools, products, and more. She wasted time on contests and surveys.

Characteristics of Scholar-Box

We recently discovered a new source of financial funding called Scholar-Box. It combines the advantages of the articles on ScholarshipHelp.com with traditional scholarship search engines. You can access them at Scholar-Box.com. They describe themselves in their About Us section as follows:

• “Why: We want to do good and make a difference in the world! We are passionate about education and feel we can have a positive influence on students and faculty everywhere.”
• “How: Scholarships are on the mind of every student preparing for further education. We improve the scholarship process for counselors, parents, and students.”
• “What: We provide high-quality Web based scholarship tools that save substantial amounts of time. Counselors using our tools get more students more scholarships.”

Scholar-Box provides training programs to help you succeed in finding the money for college:

“In five short lessons you will learn and understand what needs to be done to receive scholarship money for college. Learn how to find 100+ scholarships in five minutes, write scholarships essays in 30 minutes, and more.”

We’ve read the materials they offer and found them very helpful and informative.

One of the advantages of paying the fee for Scholar-Box remains the ability to avoid contests, surveys, and the gimmicks that trick you into applying. We didn’t find any offerings like that on the site.

Disadvantages of Scholar-Box

You must pay $39 a year for a subscription to the web site.

Because it is new, it has not developed an extensive database of offerings. They tell us they will get more.

Thursday we answer questions from clients about finding sources of money

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Tips to Get Money for College 13: Prioritize Your Application Process

Saturdays we share tips or cautions to facilitate getting scholarships or avoid problems

Jenny received scholarships to cover tuition from four different colleges. Of course, she could only use the money from the school she decided to attend. She also received a scholarship gift of a laptop from a well-known computer company. She wanted more money to cover food, books, housing, and more. She earned $26,000 from the Rotary Club, a local bank, and others. None of these specified how to use the money. She just needed to prove she was in school. We describe those as no-strings attached.

Prioritize Which Ones to Reject or Submit Application

Scholarship search engines generate lists of possible awards based on your answers to their profiles. Some, even a majority of the scholarships listed, will waste your time. You need to review each one to delete the ones that barely apply and save the ones that provide real opportunities:

We suggest the following steps to help you prioritize:

• Read the summary provided by the search engine
  • Delete all that indicate they are a survey or contest
  • Delete the scholarships marked “essays” that seem real or nonsense
  • Delete the ones that appear to be nonsense or questionable essays
• Click through to the actual web site of those that remain to read the details about the scholarship:
  • Read the qualifications, delete the ones that do not match you
  • Review how many awards they give and how many people apply, delete the ones whose competition may seem too tight
  • Consider reviews about the scholarship
  • Look for testimonials from past winners

Save or favorite the ones that you still think will warrant your time and effort to apply.

Criteria for Prioritizing the Order of Application

Prioritize when to apply for the scholarships according to the following criteria:

• Apply for the smaller scholarships first (resolve mistakes with smaller ones)
• Scholarships that reward the first people to apply rather than have deadlines
• Application deadline date (coordinate the multiple lists)
• Monitor those you may apply for multiple times

Monday we share Scholar-Box as a source of student financial aid for students

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Reusable Materials 32: Questions About Scholarship Essays

Thursdays we discuss how reusable materials help you WOW committees and save time

John asked us for help applying for scholarships. He already had enough scholarships to pay all the tuition for his undergraduate degree. He wanted more money to help defray his housing, books, food, transportation, and to buy a new laptop computer. He struggled with the essays some applications required. He wasn’t sure what topics scholarship committees required, if he needed to write all new essays, or how to modify his existing essays. Our team worked with him for several sessions. He now has 6 great 500 word essays to use and reuse. He submits about 4 applications a month. It takes him less than 10 minutes to personalize his reusable essays to the purpose of each application.

Q: How do themes & value statements differ from essays?

You use themes and value statements to answer the larger application fields such as:

• “Describe your leadership experience”
• “Outline your athletic background”
• “Highlight your academic achievements”
• “Tell us about your extracurricular activities”

Your answers to these questions seldom require more than one paragraph. Generally, you use only one theme, and may not use all the categories or value statements. You select those that will apply best to the purpose of that scholarship sponsor.

Essays differ in the following aspects. Typically, committees

• Request you to submit an essay on a topic of their choice
• Require a specific word length (currently 350-500 words)
• Expect to see a traditional structure for essays of opening, body, and conclusion

Q: Can I ever use themes and value statements as essays?

You may expand a theme with its value statements into an essay. by providing more background and details about what you did. In those situations

• Introduce why this theme is important to you in an opening paragraph
• Describe each category in a separate paragraph
• Detail the background of the situation
• Provide more details and stories about what happened  
• Summarize, in a closing paragraph, the benefits of your experience

Saturday we will share the tip to help you prioritize your efforts to get money for college

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Source of Money 30: Epilepsy Foundation Offers Several Funds

Tuesdays we review a source of financial aid to help you pay for college

Lucia, from Brazil, came to the United States to study. She enrolled in an on-the-job training program that not only paid her minimum wage for 28 hours of work every week, but also paid her tuition to become a certified medical assistant. Lucia still wanted more education, so she came to us for scholarship help. She struggled to grasp the concept of her master application. Instead, she wanted to go straight to the scholarships the search engines indicated she could achieve. As a result, she submitted applications with errors. She did not receive any scholarships.

Characteristics of the Behavioral Sciences Student Fellowship

The Epilepsy Foundation of America “supports a series of grants and fellowships to advance the understanding of epilepsy that will lead to better treatment, more effective prevention, and ultimately to a cure. Funding is available at all professional levels including students, junior investigators and established investigators.”

Some of the things we noticed on the site include:

• 15 different grants and fellowships listed on the website
• Many of the awards had closed for 2013, but encouraged you to apply in Spring 2014
• Financial awards range from $3,000-$60,000
• Most describe a “maximum for one year”
• Possible recipients may include undergraduate, graduate, doctoral, medical students, MDs, and post-doctoral researchers
• Descriptions of each offering included who may apply, tips for applying, and a description of the purpose of that particular award
• A link for each listing takes you to “Program Guidelines” for additional information

Disadvantages of the Behavioral Sciences Student Fellowship

Top researchers apply for the Epilepsy awards, requiring strong projects and competitive applications.

In addition, the foundation declares a

“PATENT AND COPYRIGHT POLICY: Please note that the Epilepsy Foundation Patent and Copyright Policy applies primarily to awards offered to academic institutions and is open to clarification as needed. Commercial companies that are offered funding to support their research will have the opportunity to negotiate a suitable agreement with the Foundation regarding intellectual property rights as needed.”

Thursday we answer questions about problems finding scholarships in today’s world

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Caveat Emptor or Buyer Beware 20: Hurdles to Getting Financial Aid

Saturday’s we share a tip or caution to facilitate getting scholarships or avoiding problems

Erika served as a high school guidance counselor for more than 14 years. She specialized in helping students apply for scholarships. She helped hundreds of students earn hundreds of thousands of dollars in scholarships. She created a program that used students with great grades to tutor struggling students. As a result, she helped them increase ACT test scores from 26 to 32. She represents guidance counselors around the country who work hard for our students. We express our appreciation and gratitude for all of their efforts. Thank you!

Increasingly Difficult to Get Scholarships

We’ve recently surveyed several guidance and financial aid counselors about changes in finding scholarships. They concur with our assessment that applying for financial aid became increasingly difficult over the last few years.

Hurdles that appeared over the last several years include:

• Less money available for financial aid since economies plummeted
• More scams, contests, phishing expeditions, surveys, and other useless offerings
• Greater review of social media by scholarship committees
• Greater competition for less money means higher standards and requirements to win
• Old schemes do not garner the attention they used to receive in more plush times
• Questions on applications and essays change more frequently and extensively
• Scholarship search engines generate 30% of all scholarships they used to generate
• Web pages for scholarships change more frequently sending you to erroneous sites
• More work receives less reward creating greater frustration

Let Others Help You

You will need more help than ever before to get the money offered by scholarship committees. Your advisors will require more experience and expertise to help you. Consider asking the following people to help you:

• High school guidance counselors—seek out the one that is the expert on scholarships
• Financial aid counselors in both your specific department and general university
• Students who recently received several scholarships themselves
• Counselors at social programs for single women, minorities, youth at risk, etc.
• Paid scholarship advisors, but investigate them thoroughly since some do not deliver

Tuesday we review Epilepsy Foundation Behavioral Science Student Fellowship as a source

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Reusable Materials 31: Questions About Themes & Value Statements

Thursdays we discuss how reusable materials help you WOW committees and save time

Annette was working on the themes and value statements in her master application. She met with one of our counselors twice to get started. However, she stalled when she tried to create them on her own. They overwhelmed her. She tried to convey too much information. Frequently, she felt that her statements overlapped and addressed multiple themes and categories. She had already identified 45 different ideas for value statements. We helped her sort them out and simplify her approach. She started completing applications within 3 weeks.

Q: My themes confuse me and overlap. How do I sort them out?

You, typically, select your themes from a list (see our blog on themes). The categories should clearly separate the theme without overlap. Categorizing your themes too closely leads to the overlap mentioned in the question.

For example, the first categories for leadership create confusion and overlap.

• Leadership
• Management
• Supervision

These geographical categories clarify and make it easier

• Internationally
• Domestically
• For my employers

Q: My value statements run on and wordy. How can I fix them?

Your value statements should focus on one, very specific accomplishment. Frequently, clients stay too general in their descriptions. For example, they say “I’m a good leader. I can help my people improve their productivity and morale.” Notice how the statement offers a very vague description.

We suggest that you use the following structure to create your value statements.

• “I am… (use the theme and category)”
• '”For example, … (include a brief description of a very specific situation)
• “As a result, …(include what the benefits derived by the action)

Once created, you may substitute the structure headings for other words.

Compare the impression of the first, very general statement, with this, more specific, statement. “I am a leader in community. For example, as president of a local service club, I started an outreach and marketing program. As a result, we increased participation in the program by 30%.”

Saturday we share cautions about hurdles you need to overcome to get financial aid

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Sources of Money 29: NIH Oxford-Cambridge Scholars Program

Tuesdays we review a source of financial aid to help you pay for college

Adam was accepted to medical school, but did not have enough money to pay for all of the training. He realized that he would not have time to work while attending school. He had also heard that medical school graduates who practiced family or general medicine would never be able to pay off their student loans. Adam hesitated to enter medical school and incur a huge student debt.

Characteristics of the NIH Oxford-Cambridge Program

The web site describes the scholarship program as follows:

“The National Institutes of Health Oxford-Cambridge Scholars Program is an accelerated, individualized doctoral training program for outstanding science students committed to biomedical research careers. The program is based on the British system in which students perform doctoral research without required formal courses other than those students choose to take in relationship to their own interests. Students selected for admission to the program have already developed a sophisticated scientific background by having engaged in research as undergraduates.”

The site outlines the following benefits and characteristics:

• “Students undertake a collaborative Ph.D. project in any area of biomedical investigation with two research mentors--one at the NIH intramural campus in Bethesda, MD and one at either Oxford or Cambridge Universities in the United Kingdom. Students conduct research at both locations and potentially other sites including field work in Africa and elsewhere around the world.
• All students participate in the enriched environment of the residential colleges of the U.K. Universities and enjoy special educational opportunities for career development and understanding of broader issues surrounding biomedical research.
• Students earn a D.Phil or Ph.D. from Oxford or Cambridge with an average time to completion of four years, just over half the time it takes to complete a biomedical Ph.D. in the U.S.
• The program is FULLY FUNDED for U.S. Citizens and permanent residents, with all students receiving tuition and stipend support for the duration of their Ph.D. training.
• Partnerships with other scholarship programs for training in the U.K. are also possible, including partnerships open to international students.”

Requirements for the Scholarship

The site explains “Our expectations for the successful Scholar applicant include:

• Academic expectations, as measured by grades and test scores
• Most successful applicants worked in a laboratory during college, and  those with two-three plus years of research experience are not unusual. 
• Co-authored manuscripts in scientific journals and presented their work at national meetings, although this is not a prerequisite
• Outstanding letters of recommendation, particularly from research mentors, typifies the successful applicant and is weighed heavily in the evaluation process
• Honored by their universities for academic or research achievements or by outside agencies such as the Beckman or Amgen Foundations, MARCS program or a Goldwater Scholarship
• A personal statement that details their motivation, experience, and long-term goals”

Thursday we answer questions about themes and home run statements posed by our clients

Caveat Emptor or Buyer Beware 19: Challenges to Student Loans & More

Saturdays we share a tip or cautions to facilitate getting scholarships or avoiding problems

Elsie borrowed money each year to attend college. Her student debt exceeded $23,000. She plans on attending this fall for her last year of college. She contacted us last week. She expressed three concerns about her loans. First, that the interest rates for the last year will double. Second, she wondered if the interest rates on all previous loans would double. Third, she had heard that interest no longer began after graduation, but began the moment she received the loan. Her concerns reflect confusion many have at recent changes in federal student financial aid.

Recent Changes Made by Congress

Over the past two years congress made significant changes to the laws regulating student financial aid. Some of the changes include:

• 2011: They decreased the income levels to qualify for Pell Grants from $26K to $12K
• 2011: They reduced the number of grants you can receive from 18 to 12 semesters
• 2011: They doubled the interest rate from 3.4% to 6.8% for loans to graduate students
• 2011: They began accruing interest on graduate loans on the first day of the loan
• 2011: They eliminated grace periods for beginning loan payment on graduate loans
• 2012: They failed to prevent a doubling of interest rates on undergraduate loans

Uncertainty and Confusion Exists

Both the Obama administration and Congress combined to create challenges for some college students and their families. The President wanted to make college more affordable for poorer people. Congress wanted to reduce government spending and the debt. They were both able to accomplish parts of their plan.

• Lowering the income requirements for Pell Grants ensures money goes to poorer people
• Reducing the number of semesters spreads the money to more people & reduces the money given
• Increasing interest rates raises more money for the government and discourages many applications
• Beginning the interest accrual earlier also increases the amount of money earned

At this time, Congress still debates alternatives to doubling interest rate on undergraduate loans.

Monday we share NIH-Oxford-Cambridge Scholars Program as a source of financial aid

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Reusable Materials 30: Answers to Questions About FAFSA

Thursdays we discuss how reusable materials help you WOW committees and save time

Erica applied for a Pell Grant. The government denied her because her parents earned too much money. Later that year she married Tom. Thinking that their young, newly married, miniscule, joint income would qualify; she reapplied for a Pell Grant that next year. The government denied her request again. Her parents had claimed her as a dependent the year she married. As a result, their income disqualified her again. Unfortunately, she graduated the year their married income qualified for the Pell Grant.

Q: When is the best time to complete and submit a FAFSA?

You must complete a new Free Application for Federal Student Aid (FAFSA) each year. They set deadlines each year, but generally between January 1 and June 30. You cannot complete a FAFSA until you or your parents submit their federal taxes. Typically, families cannot complete taxes until after January 30 because that is the deadline for companies delivering W-2s.

We encourage you to complete and submit your FAFSA as early in the year as possible. Several grants and other financial aid packages are awarded based on when the application is submitted or until the designated money is gone.  

Q: I heard that there is an easier way to complete a FAFSA?

A: The Federal Student Aid web site explains the following: “Applying is easier with the IRS Data Retrieval Tool! Beginning in early February 2013, students and parents who have completed their 2012 IRS tax return may be able to use FAFSA on the Web to electronically view their tax information. With just a few simple steps, the tax information can also be securely transferred into the FAFSA.” You can use the online application at www.FAFSA.gov to access data retrieval tool.

Most of the people we know find the online application much easier to use than the paper or PDF version. The retrieval tool should make the online version even easier since it transfers information straight from IRS information.

Saturday we share a caution about student loan challenges, congress, & student debt

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.