October Financial Aid Action Plan

If you have been organized with your college preparations so far, then this month will just be building on what you have already accomplished. By this time, you should have narrowed down the list of schools to which you will be applying. You should have discussed your financial aid standing with your parents and met with your high school counselor. How are you doing on the ACT and SAT? You should have taken practice tests and courses and should be signed up for or have taken these by now. Are you nodding your head in agreement with these points? If you are, then you are doing well in getting your application process going! This month you will be starting your college applications, looking into supplemental aid, gathering scholarship information, and a number of other things necessary for your ascent to college.

During the past few months you have been researching different schools and deciding on the best choice for you. You have also looked into what each school prefers for coursework, testing, and deadlines. Remember all those applications you have been gathering? Well, it’s time to start putting them into action!  Most fall application deadlines for incoming freshman are in the winter (December or January), so you have about two months to get everything together. Filling out your applications and filing them with your high school is a good way to keep everything organized until you are ready to submit them.

If you have a school to which you plan on applying and are absolutely sure that if you get accepted you will attend, then consider applying for early admission (also known as early decision). Early admission application deadlines are usually in November, so if you plan on applying early, then you will need to have your application submitted by the end of this month (October). The difference between early admission and regular admission is that you will receive your admission letter in December or January as opposed to later in the school year. However, there is the condition that if you apply through early admission, you must attend that school and withdraw all other applications if admitted. So, as mentioned earlier, if you do decide to apply early then you must be absolutely sure that it is the school you will attend. It is not recommended to apply early if financial aid will play a major factor your school choice. If you will need a lot of financial aid to cover your tuition costs, then you may want to apply through regular admissions so you can compare financial aid awards from the schools you are accepted by. Applying early to more than one school is also not recommended. Doing so can lead to a bar or cease on your application if the university you apply to shares early admission names with other major universities, which often happens.

If you plan to apply for early admission, it is important that you fill out a CSS Financial Aid PROFILE. You may apply online starting October 1^st at www.financialaidtips.com then follow the CSS/Financial Aid PROFILE link. PROFILE is available for all students who plan on attending college, and some schools require the student to submit PROFILE at some point during the application process. If you are unsure whether your school will accept the PROFILE, refer to the list available to you by following that same link. Submitting the PROFILE will allow the school to assess your financial aid status and award you as needed.

In September, we suggested that you consult with your parents to determine your expected family contribution using the EFC calculator. (Find it at www.financiailaidtips.com by following  the Financial Aid Calculators link.) If you have done that and found that you have special circumstances which may affect your ability to pay for college, then consider filing a supplemental aid application. Federal Supplemental Education Opportunity Grant (FSEOG) Programs are submitted along with the FAFSA and can be filed with your schools financial aid office. This month, refer to the websites of the schools you are applying to and navigate their financial aid page to find out if the school offers a FSEOG. You may have the option to download the application from the site. If the website doesn’t include information on a FSEOG, call the school’s financial aid department and ask if they offer it.

Another facet of financial aid, which you will want to explore this month, is scholarships. This is another area in which your high school counselor may be very helpful.  Meet with your counselor and ask about any local or national scholarships which you may qualify to apply for. If your counselor doesn’t have a list, there may be another person at your school who files the available scholarships the school receives. Ask about scholarships local students received or applied to last year. There are a lot of hidden gems out there that may be relatively unknown. Lower awareness can mean a better chance of you winning the award. Also, search the websites of the schools you are applying to and find out if they have any scholarships available to students. Local businesses or your parents’ employers may be another place to research.

For more scholarship options, try a scholarship search engine. Be careful as there are many scholarship scams out there.  You can get started free with our recommended, safe scholarship search providers by going to www.scholarshipsearch.financialaidtips.com . You will need to register for the website and complete a series of questions about things which interest you or things which you are involved in. These could include ROTC, your church denomination, music, etc. The survey will help the website filter the thousands of scholarships to the ones which are directly related to your interests.  Again, be very careful about which scholarship search services you use!

After you have determined which scholarships you will be applying for, print out the applications and essay prompts and begin filing them to keep them organized. Write down all the scholarship submission deadlines in your master calendar.  Work on these applications throughout the month, and submit as many as possible during the school year. For scholarships which require essays, it important to find a teacher who can proofread your rough drafts and make corrections for your final submission. It is imperative  to give yourself an early finish date (at least a couple of weeks) for your essays, so you will have time to have them proofread and develop a the final copy. To learn more, read through the free Scholarship Essay Guide.

Male student citizens, who are or will be 18 years of age at the time they fill out and submit the FAFSA, must register with the Selective Service System.  This is the government agency which keeps a record of men of age in the United States in the event of a draft. Registering with the Selective Service does not mean that you will be drafted into the military. Drafts only occur during a crisis and, even then, there are a number of different exams you must pass before being allowed to serve. However, you MUST be registered with the SSS before submitting the FAFSA. If you fail to, then you will not be eligible for federal or state aid. The easiest way to register is online. Go to www.sss.gov and click the “Register Online” button. You may also register through your local post office. It doesn’t matter which way you choose to register, as long as you get it done!

In summary, the tasks you need to do this month can be accomplished with a little organization and determination. Here is a recap:

o   Start filling out college applications

o   Keep your scholarship applications, college applications, and essay rough drafts filed and organized

o   Fill out a PROFILE if necessary

o   Search for local and national scholarships and begin applying

o   Think about early application

o   Register with the SSS if you are an 18-year-old male citizen.

Remember, it is still extremely important to maintain your grades and keep participating in your extracurricular activities! College is only a few short months away! Next month, we will be talking about applying for scholarships, gathering the information you need to complete your applications, and requesting a FAFSA pin number.

If you missed any of our previous Monthly Financial Aid Action Plan newsletters, you can find them here:

Early Summer September