Financial Aid --- One Key to Your College Experience
Katharine Eneguess, President of the New Hampshire Community College - Berlin
What is the first question that you ask when you're starting to think about going to college? How am I going to afford to go? This question is one that each year Colleges and Universities assist learners of all ages, income levels, and backgrounds with. It is important that you understand that there is a process to follow and the process is not that difficult, but YOU do need to apply. I cannot tell you how many time we hear students and parents ask about scholarships and when I inquire "Have you filled out your financial aid forms?" the answer is "I did not think I would qualify or I could not figure out how to do it."
Why is this so important? It is important because often you are not eligible for other scholarships unless you have filled out the Federal Student Aid form known as FAFSA. The federal department of education is very clear about accessing any federal dollars -- no form, no funds! There are many types of financial aid, federal student loans or grants, private loans or grants, scholarships and individual college grants. Please do not be afraid to ask for assistance in working your way through this maze. It is not too late to begin!
Financial Aid How-to Guide
Let's work our way through a very necessary part of coming to College but what also what some see as the most confusing part of the pre-college process. Here are just a few things that you need as you prepare.
Every student that is applying for financial aid needs to fill out a Free Application for Federal Student Aid (FAFSA) form. FAFSA's need to be submitted each and every year that the student is enrolled in school. Here is a step-by-step process on how to apply for financial aid:
- If you plan on submitting your FAFSA online, you will need to apply for a PIN. This is easy! A PIN lets you electronically sign your FAFSA, make corrections, and check its status. You can apply for a PIN at www.pin.ed.gov . It takes a few days to receive your PIN via email. Once you receive it, do not show it to anyone.
- Before you fill out a FAFSA, you will need to collect a few documents so that the federal government knows what your financial status is. You will need your Social Security number, driver's license (if any), your most recent W-2 forms, and any other records of money earned, your (and your spouse's if married) most recent Federal Income Tax Return, your parents’ most recent Federal Income Tax Return (if you are a dependent student), your most recent untaxed income records, your most recent bank statements, your most recent business and investment information, and your alien registration number or permanent residence card if you are not a US citizen.
- Once you have collected all these documents, you are ready to begin filling out your FAFSA. FAFSA's can be submitted via mail or online at www.fafsa.ed.gov . Submitting your FAFSA online is the quickest way to receive your Student Aid Report (SAR). A good way to get started is to print out the FAFSA on the Web Worksheet. This will allow you to read and complete the questions before entering your information online. Once you have completed the FAFSA on the Wed Worksheet, you can enter your information online. Mail-in FAFSA forms are available in your high school guidance office or in the financial aid office of the college of which you are applying. The New Hampshire deadline for completing your FAFSA is May 1st. College deadlines vary.
- Once you have submitted your FAFSA, Federal Student Aid will send you a Student Aid Report (SAR). Your SAR will tell you what your Expected Family Contribution (EFC) is. This is the number that is used to determine your federal student aid eligibility.
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Contact your college's financial aid office to make sure the college has received your information.
- Once your college has processed your information, the college will send you a financial aid package explaining the aid that you are eligible for.
The Four Types of Financial Aid
- Grants are money that does not need to be repaid. The federal government offers various types of grants for students with different financial needs. Please visit www.studentaid.ed.gov for more information.
- Scholarships are money that also does not need to be repaid. There are different scholarships available at each individual college or university as well as from different local businesses and organizations. Students should seek out as many scholarships as possible with the help of their high school guidance office or college financial aid office.
- Loans are money that does need to be repaid. There are various types of loans for students and parents with different financial needs. Please visit www.studentaid.ed.gov for more information.
- Federal Work Study is money earned by the student while attending college. Graduate and undergraduate students are eligible, wages are at least federal minimum wage, and the money does not have to be repaid.
The most important thing to remember when applying for financial aid is to be prepared. Make a checklist of all the documents you will need, become familiar with the different types of aid available, and make note of state, federal and college deadlines. Your high school guidance office and the college financial aid office are there to help. If you have any questions about applying for financial aid, feel free to contact NHCC-Berlin's financial aid office at 603-752-1113. Make sure all your questions are answered.
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8/28/2007
