Financial Aid Student Recipients- What You Need To Know
As a student financial aid recipient, you should plan to do the following, before classes begin in the Fall, 2016:
- Read thoroughly your financial aid award letter…read it more than once, if necessary. Don’t just hand it over to Mom and/or Dad, Grandma or Grandpa, Auntie or Uncle, etc.
- The process of financial aid is complex. However, there are online information resources which can help you navigate any
concerns you may have.
- When it comes to financial aid questions, problems, or issues, go directly to the source (Financial Aid Office) for the answers. Do not rely solely on your peers, friends, or family members’ varied experiences.
- During your visits with your financial aid adviser, make sure you ask questions and takes notes.
- There are usually “strings” attached to these awards, obligations you must fulfill if you plan to be an annual award recipient. Check out the details in your particular situation.
- Yes, as a financial aid recipient, you do have to apply annually for student financial aid using the Free Application for Federal Student Aid (FAFSA). Check to see if your campus has additional application requirements.
- The Federal Government requires that you to “make satisfactory academic progress”…THIS is critical, so find out what that exactly means at your particular campus.
- Make it a point to fully understand your obligations as a student loan recipient. Don’t wait until your senior year to learn about your student debt and/or repayment options.
- If you have Federal student loans, make sure you investigate their very liberal repayment and forgiveness options.
- If you have received any “outside” scholarships, like from your high school and/or community organizations, make sure to find out if they are awarded for a specified time period. What academic obligations are attached to them.
- Lastly, create your own student financial aid file online or in paper format. Keep copies of all submitted records and financial aid adviser meeting notes.