"The Experience"
Financial Aid Q & A: Special Situations
Author: petersons, Category: College Scholarships & Financial Aid
I live on a small family farm. Our gross income is about $90,000. However, after all the bills are paid we are left with a very small amount. How does this affect my financial aid applications? I will be paying for everything myself.
Your FAFSA information will be carefully reviewed and it must include financial information from both you and your parents. When you are looking into your final college choices, be certain that your school’s financial aid officer has a complete understanding of your family’s total financial situation. You will very likely need to consider the Stafford Loan and other self-help options to help defray college costs.
Note: You do not have to include the value of a family farm that you (your spouse and/or your parents) live on. Also, a small business with not more than 100 full-time or full-time-equivalent employees (or any part of such a small business) that is owned and controlled by the family is excluded from assets on the FAFSA. Read the rest of this entry »
Financial Aid Q & A: Borrowing
Author: petersons, Category: College Scholarships & Financial Aid
Tell me about Subsidized Stafford Loans.
A subsidized loan means that the federal government pays the interest to the lender while a student is in school and during other periods when students are not required to make payments. Because the government is paying the interest during periods of enrollment, students are not responsible for paying the interest and interest does not accrue until repayment begins. Once in repayment, the student is then responsible for paying the interest on the loan as well as the principal amount borrowed.
To receive a Federal Subsidized Stafford Loan, need must be demonstrated under the federal need formula. In other words, when your Expected Family Contribution (EFC) is subtracted from the cost of attendance, the result must be greater than zero for you to be eligible to borrow a Federal Subsidized Stafford Loan. The determination of need and loan amounts offered are determined by the financial aid office(s) you submit your financial aid application information to. Borrowing is further limited by other aid your child has been awarded, as well as the annual maximum loan limits applicable to the program. Read the rest of this entry »
Choosing Your College: Campus Life
Author: petersons, Category: College Search
One of the best things about college is exploring your interests, even if they have nothing to do with your major. Are you a sports nut, a club crawler, or a recluse? Some schools are touted as “party schools” or “football factories” and that may help you to draw some conclusions about the types of activities and personalities you’ll encounter there. Others cater to the arts and offer frequent plays and concerts. Several schools are even outdoor-oriented, offering you the chance to go hiking, snowboarding, and rock-climbing.
There are many programs that are unique to only one or a few schools. Every campus will have some that appeal to you. So whether you’re a belly dancer or a Zen Buddhist, try to find a school that not only fulfills your academic goals, but offers opportunities to pursue your personal ones, too. A well-rounded and fulfilling college journey is a great way to ensure your success.
Athletics
Are you ready to play? Most schools have organized sports teams for both men and women and the range of these may vary, depending on the school. (If you make the team, academic eligibility to play must be maintained.) However, most of us aren’t playing college ball. Thankfully, there are many intramural options available at most schools. Requiring no tryouts or minimum grades, teams are often organized by dorms or clubs, and can include anything from water polo to bowling leagues. If you aren’t playing, but want to be involved, other activities related to athletics exist as well, such as cheerleading or the college band — or perhaps you just want to be a spectator caught up in the roaring crowd. Whatever your preference, check and see if your choice schools have athletic activities that interest you. Read the rest of this entry »
Choosing Your College: Academics
Author: petersons, Category: College Search
There’s more to college than what happens in the classroom, but higher education is why you’re going to college. Your first priority should be to make sure the schools on your list have the programs and majors you want because not every major is offered at every college. Consider the academic structure in relation to your other wishes as well, since academics play a big part in defining the campus vibe. (For example, you’re not likely to find many Chemistry majors at an art school.) Think about what you’re into, and let it guide your search.
A matter of degrees
Sometimes it’s easy to forget, but one of the main reasons you go to college is to get your degree! What is your objective? Are you planning on going straight through to a doctorate at the same school, or is an associate’s degree or professional certification enough to meet your goals? Know what you’re aiming for so you know which schools to cross off your list. Read the rest of this entry »
Choosing Your College: The Basics
Author: petersons, Category: College Search
Feel like you need to go to a big-name college to get the best education and impress all of your friends? Take a moment to consider that college is not just about getting a great education — it’s also a huge leap into a whole new world of social experiences, personal growth, and independence. (Not to mention a new level of hard work, studying, and academic achievement!) The overall culture of your college may play as big a role in your future success as your degree. Figuring out what’s important to you will help you narrow the field, and you may discover some options that hadn’t even been on your radar!
Starting your search with the basics will help you identify the colleges that will best suit you academically and personally. Each of us has unique needs and values, and what is important to you may not matter to someone else. Take location, for instance. If you don’t want to be more than 100 miles from home, then schools on the other side of the globe are out! The same goes for school size, cost, and other basic criteria. By identifying your needs early on, you can eliminate hundreds of schools and focus on the things that will make your school a perfect fit. Read the rest of this entry »
Going Greek: Is it for You?
Author: petersons, Category: College Search
By Howard and Matthew Greene
Many students are predisposed either for or against not only joining a Greek organization, but even attending a college at which Greeks have a presence. Many stereotypes and mythologies abound, most having to do with the “Animal House” image of frats or the “Southern Belle” reputation of sororities.
Some of you might be sure that you want to join a house in order to find social bonding, parties, post-college networking opportunities, and a nice living environment in a prominent part of campus. Others might be certain that Greeks are all bad and don’t want to go near a campus that sponsors them.
The choice is personal
We aren’t going to solve the debate over whether fraternities and sororities are good or bad. Both of us were members of fraternities and had very good experiences with them in a traditional campus setting where Greek houses continue to play an important, but not overbearing role. Instead, let us lay out some ways to look at Greek systems so that you can evaluate them for yourself and decide what, if any, role they will play in your college experience. Read the rest of this entry »
The Greek System and Campus Life
Author: petersons, Category: College Search
By Howard and Matthew Greene
There are a lot of factors that can affect the impact of the Greek system on a college campus:
* The type of Greek system
* The size of the overall college campus
* The percentage of students in fraternities and sororities
* When rush takes place
Greek houses can play very different roles in college life. We encourage you to examine carefully what type of college will work best for you, and whether the presence or absence of a Greek system is a factor in your decision. Read the rest of this entry »
Financial Aid Q & A: Federal Aid
Author: petersons, Category: College Scholarships & Financial Aid
What is a simplified needs test?
An alternate method of calculating the Expected Family Contribution (EFC) for families with adjusted gross incomes of less than $50,000, who have filed, or are eligible to file, an IRS Form 1040A or 1040EZ or are not required to file an income tax return. All assets are excluded from consideration.
A student may qualify for either an auto-zero EFC or Simplified Needs Test (SNT) EFC if, in addition to meeting the relevant income criteria, the student or the dependent student’s parent(s) received benefits from a means-tested Federal benefit program (e.g. SSI, food-stamp program, or free & reduced price school-lunch program).
Only the parent’s tax return is considered for auto-zero EFC and Simplified Needs Test EFC determinations. Please note that the maximum Adjusted Gross Income (AGI) of the parents was raised to $20,000 (from $16,000) for an applicant to be eligible for auto-zero EFC. Read the rest of this entry »
Financial Aid Q & A: The Basics
Author: petersons, Category: College Scholarships & Financial Aid
Have questions about financial aid? This group of questions covers the basics. When you’re done, select an article at the bottom to explore federal aid, borrowing, and special financial aid situations.
What is cost of attendance (COA)?
This refers to the total direct and indirect costs of a student’s education expenses for an award year. Tuition, mandatory fees, room and board, books and supplies, transportation expenses, and personal expenses make up the traditional components of a student’s COA. A cost of a computer can be included as part of the student’s personal expenses as well. Some institutions may include other institution-specific expenses in a student’s COA budget.
How much does college cost?
Just as the cost of an automobile depends on the make and model, college costs can vary widely. If your son or daughter attends a local community college and lives at home, your out-of-pocket costs for the entire academic year may only be a few thousand dollars. A state-supported public university will have a total cost of education anywhere from $10,000 to $17,000 a year. An Ivy League college education can easily cost $45,000 annually. (These costs are for the nine-month academic year and include tuition and fees, books and supplies, transportation expenses, room and board, etc.) Read the rest of this entry »
Geographic Diversity: Building Your College List
Author: petersons, Category: College Search, Getting Started for College
By Howard and Matthew Greene
In today’s admission environment, it’s more important than ever to develop a diverse application group. Including geographic diversity in your list of colleges can help you open up exciting choices that fit your goals and interests. How? Most colleges actively seek students from outside their core geographic area, and most students tend to stay within a few hundred miles of home when attending college.
Avoiding “the bunching effect”
Many, if not most students we talk with begin their college search within driving distance from home. Two to five hours seems a typical comfort level for most families. Of course, some students start the college process convinced they want to get as far away from home as possible! Read the rest of this entry »