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Financial aid deadlines quickly approaching |
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Thursday, 25 January 2007 |
by ALLISON CASEY
Lifestyles Reporter
Students applying for financial aid for the first time can find the process complicated and confusing. Fortunately, Appalachian State University is armed with a staff of counselors to assist students with their financial aid needs.
The Financial Aid Information Fair took place Wednesday. Both the
financial aid office and various “preferred lenders” were on hand to
pass out information on applying for financial aid.
Though the Office of Student Financial Aid does not encourage students
to take out loans, they recognize that sometimes it is necessary, fair
coordinator and Assistant Director Betsy Anderson said.
“The goal of the fair is information,” she said. “It’s important to
have a live person to parlay back and forth with, rather than a
recording where you press five and then six.”
This is also why she encourages students to stop by the office personally if they have questions.
In the 13 business days the office has been open since the start of the
semester, the front office alone has received over 2,400 phone calls.
“If a student is physically here, I’m going to give that student
priority,” she said. “I’m not going to answer phone calls or E-mails.”
The financial aid process generally takes about nine weeks from start
to finish, so it is important to begin it as soon as possible, she said.
First, students must fill out a Free Application for Federal Student Aid, known as a FAFSA.
In order to be considered for grants, students must file their FAFSA
before Feb. 15. March 15 is the deadline for all other applicants.
Students and parents need to get a PIN number at pin.ed.gov to sign the FAFSA electronically.
“The best thing to do is to fill out the worksheet on paper before
doing it online,” Anderson said. “They only care about the final number
and it will time you out if you spend too long doing the calculations.”
Another mistake students often make is not answering important
questions, like citizenship and sex, which can lead to confusion and
extend the process, she said.
About one-third of students are randomly selected for verification of
their forms, which can also elongate the process, even if forms are
perfect.
After completing the FAFSA, students will be given a number known as
the Estimated Family Contribution, or EFC. This number is a measure of
how much the student and his family can contribute to the cost of
attendance.
Cost of attendance is determined individually for each student based on
a budget of tuition, housing (which can include off-campus), fees,
food, travel and dependent care.
The remaining number is the financial need of the student.
From this point, the office will put together a package that tries to
meet the financial needs of the student, which can include grants,
work-study and federal loans.
Students will then receive a refund check through the Office of Student Accounts.
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