Thursday, July 25, 2013

Can there be too much financial aid?

Scholarships are available to assist in everyone's education; you just have to know where to look for them and be persistent.  Apply for several on an ongoing basis.  Some places include your counselors office, MEP or on the web.  One popular site is, but this is just one of many.  Treat your scholarship search like a class.  Designate time to do the paperwork and follow through per the deadlines.

If you qualify for additional money, you can receive addition scholarships up to the amount of the cost of attendence identified for you.  Below are a few ballpark figures on the cost of attendance.

                                        In-State         Out of State
Tuition                           10,400            20,300
Room/Board                    6,000              6,000
Books/Fees/Expenses      3,100              3,100

Total (Cost of Att.)         19,500             29,400

Should you receive additional funds, which exceed the Cost of Attendenc, some of your loans (or other scholarships) will be reduced by the excess amount.  The intent of the Financial Office is to reduce your indebtedness.  The effect, however, is that you don't always get your scholarship money in your hand.

Example:  Amy is a Bunton-Waller Fellow (BWF).  Both the aid and the BWF equal her cost of attendance.  A corporate scholarship of $2,000 was awarded to her in her student account.  Consequently, her BWF funding was reduced by $2,000 for that semester so that she would not exceed her cost of attendence.

If you are approaching your financial aid limit, contact the aid office to find out how additional scholarship funding would be applied.  Sometimes excess aid can be applied to summer or future semesters where less aid is anticipated.

Thursday, July 11, 2013

Financial Aid Continued.....

The FASFA is required EVERY YEAR you are in college seeking aid!

COPY EVEYRTHING YOU MAIL IN!!!  If your form is "unable to be located" (or LOST) it helps to have a copy to provide. (The FAFSA is rather long and no one enjoys doing it twice.)

Financial aid is available to students who maintain at least 12 credits per semester, and pass 24 credits per year and are in good academic standing with a 2.0 cum GPA.

Should you enroll for less than 12 credits per semester or fail to pass 24 credits per year, or find that you are not in good academic standing, your financial aid will be jeopardized.

Financial aid refunds are meant to be applied to your living expenses. If you get an $800 refund for the fall, you are expected to divide it by 4 and live on $200/month.

Some summer aid is available.