Well, its almost time!!! That's right, almost time to begin completion of the 2008-2009 FAFSA which will be used for the period of enrollment beginning after July 1, 2008. If you haven't done so yet, GET YOUR PIN NUMBER!!!! www.pin.ed.gov DO IT NOW!!!!
Also, some regulatory news for you. The maximum Pell Grant for 2008-2009 will be $4731. A bit shy of what the government said it was going to be. They had promised a maximum grant of $4800, but due to some appropriation issues the maximum has been increased only $421. This occurred as a result of the CCRAA (College Cost Reduction Access Act) of 2007, which allowed for additional Pell grant expenditures because of reduced subsidies to lenders who participate in the Family Federal Education Loan Program (FFELP).
Also, there will be a new question on the web version of the 2008-2009 FAFSA which will be to identify students who may be eligible for the TEACH Grant. The College Cost Reduction and Access Act of 2007 establishes, effective with the 2008-
2009 award year, the Teacher Education Assistance for College and
Higher Education (TEACH) Grant program, which provides up to $4,000 a
year in grant assistance to students who plan on being a teacher and
meet certain specified requirements. Through an updated FAFSA, Federal
Student Aid will assure that students are aware of the TEACH Grant program, the
program's eligibility criteria, and that students will indicate their
plans to pursue a teaching career.
I'll bring more to you about the TEACH grant as regulatory information becomes available.
I wish all of my readers a very happy and healthy 2008!!! Please come back often to see updates on government legislation that affects financial aid as well as the many scholarship opportunities I will identify in the coming months.
Monday, December 31, 2007
Saturday, December 29, 2007
Some great scholarship search tips from the Student Loan Network
Anyone financing higher education knows that student loans are a necessary evil. It is important to get the most accurate information about student loans before plunging into debt situations. There are some great lender networks out there that supply sound finanical aid advice. One of them is the Student Loan Network. Recently, I received an email from this organization that provided some excellent resources and I would like to pass that information on to you. They have developed a piece called Scholarship Search Secrets. In the PDF that you can download, you will find relevant, pertinent information that can be of significant use in your scholarship search efforts. Feel free to check it out at the address here, and let me know what you think!!!
Monday, December 24, 2007
Happy Holidays!!!
I want to thank you all for your readership and I would like to take this opportunity to wish you a very happy and healthy holiday season!!!! I will be back with some entries this week to get everyone prepared for the 2008-2009 financial aid season which will begin January 1, 2008!!!! Enjoy your friends and family; sit back and relax and take comfort in the end of one year and the beginning of the next.
Monday, December 17, 2007
New Scholarship Opportunity from Nelnet
Nelnet is a student loan company that is offering $1,000,000 in scholarship monies. The scholarship is easy to qualify for, as there is no essay, GPA or ACT/SAT score required. The scholarship will award ten monthly Grand Prize winners one year of college expenses up to $25,000 and 750 first prize winners will receive $1000 in scholarship funds.
Students who are eligible include undergraduate college students and high school juniors and seniors at least 16 years old. Winners are guaranteed from every state and the odds of winning are determined by the number of elgibile entries received!!!
So go ahead, long on to www.nelnet.com to enter and hopefully win!!!
Students who are eligible include undergraduate college students and high school juniors and seniors at least 16 years old. Winners are guaranteed from every state and the odds of winning are determined by the number of elgibile entries received!!!
So go ahead, long on to www.nelnet.com to enter and hopefully win!!!
Sunday, December 16, 2007
2008-2009 FAFSA worksheets have arrived!!
We recently received 3700 of 5000 2008-2009 FAFSA worksheets that I requested. In an attempt to insure online accuracy when completing the FAFSA, using the worksheet to minimize errors will surely help.
Changes in the needs analysis for federal aid will not be significant for the 2008-2009 academic year. Major regulatory changes will be part of the 2009-2010 year and will be reflected in that FAFSA.
In the new FAFSA, 2008-2009, students will be able to list ten schools where they want the fafsa results to be sent. This is an increase from the current or prior years' FAFSA where there was room for fewer schools to be listed.
The student and parent can use the next couple of weeks to gather information for the completion of the 2008-2009 FAFSA which will be available 1/8/08.
Some simple information to gather now for preparation should include:
*Parents' social security numbers
*Parents' dates of birth
*Current asset information for the student and the parent
Remember to always use the legal name of student and parents as it appears on the individual's social security card. Nicknames or short names, such as Bob for Robert or Tom for Thomas should never be used on the FAFSA. The identification data including names, dates of birth and social security numbers are all verified against the Social Security Administration database. If they do not match, delays in the processing of the student's financial aid can occur.
Good luck and stay tuned!!!!
Changes in the needs analysis for federal aid will not be significant for the 2008-2009 academic year. Major regulatory changes will be part of the 2009-2010 year and will be reflected in that FAFSA.
In the new FAFSA, 2008-2009, students will be able to list ten schools where they want the fafsa results to be sent. This is an increase from the current or prior years' FAFSA where there was room for fewer schools to be listed.
The student and parent can use the next couple of weeks to gather information for the completion of the 2008-2009 FAFSA which will be available 1/8/08.
Some simple information to gather now for preparation should include:
*Parents' social security numbers
*Parents' dates of birth
*Current asset information for the student and the parent
Remember to always use the legal name of student and parents as it appears on the individual's social security card. Nicknames or short names, such as Bob for Robert or Tom for Thomas should never be used on the FAFSA. The identification data including names, dates of birth and social security numbers are all verified against the Social Security Administration database. If they do not match, delays in the processing of the student's financial aid can occur.
Good luck and stay tuned!!!!
Sunday, December 9, 2007
Expanding on great end of the year tips!!!
If you went on to Financial Aid News, a link from the prior entry, you saw they had financial aid tips for the end of the year in regards to financial aid planning.
In addition to getting your 2007 finances in order for preparation of the 2008-2009 FAFSA and developing scholarship essays, they also suggested consulting an expert regarding financial advice. This could include a financial planner, a tax expert or if you are especially concerned and interested in the financial aid process and relevant issues, it is advantageous to contact a financial aid consultant. In hiring any professional, you want to insure that whomever you hire has the experience, credibility, and knowledge to serve the student and the family well.
Below are some guidelines you should consider when hiring a financial aid consultant:
* Beware of anyone who guarantees that you will receive a certain amount of financial aid.
* Beware of any consultant who refuses to sign the FAFSA as a paid preparer. This indicates that they may be encouraging you to commit some type of fraud
* Beware of anyone who "invites" you to a "free" seminar. True professionals in this field will inform you of their rates for services up front in order for you to determine if you wish to utilize those services.
* Never agree to pay a fee tied to the amount of aid received. Pay a flat fee and know what services you will receive for that fee.
In addition to this blog for information provided I am owner and operater of SLM Consulting where I provide services to students and their families to assist with education finance planning. Based upon my experience, knowledge and up-to-date training in the field, I provide families with a variety of services from assistance with CSS Profile and FAFSA preparation and submission to analysis of FAFSA results and award letter comparisons, all on an individual basis. If you have some general or specific questions and are looking for advice and guidance, general consulting is also provided.
If you are interested in these services or just have general questions regarding my services and credentials, feel free to email me at either of the addresses below:
slmconsulting@optonline.net or
julygirlhere@yahoo.com
SLM CONSULTING - Easing Your College Cost Concerns
Susan L. Mead
(845)883-6734
(845)264-9542 cell
In addition to getting your 2007 finances in order for preparation of the 2008-2009 FAFSA and developing scholarship essays, they also suggested consulting an expert regarding financial advice. This could include a financial planner, a tax expert or if you are especially concerned and interested in the financial aid process and relevant issues, it is advantageous to contact a financial aid consultant. In hiring any professional, you want to insure that whomever you hire has the experience, credibility, and knowledge to serve the student and the family well.
Below are some guidelines you should consider when hiring a financial aid consultant:
* Beware of anyone who guarantees that you will receive a certain amount of financial aid.
* Beware of any consultant who refuses to sign the FAFSA as a paid preparer. This indicates that they may be encouraging you to commit some type of fraud
* Beware of anyone who "invites" you to a "free" seminar. True professionals in this field will inform you of their rates for services up front in order for you to determine if you wish to utilize those services.
* Never agree to pay a fee tied to the amount of aid received. Pay a flat fee and know what services you will receive for that fee.
In addition to this blog for information provided I am owner and operater of SLM Consulting where I provide services to students and their families to assist with education finance planning. Based upon my experience, knowledge and up-to-date training in the field, I provide families with a variety of services from assistance with CSS Profile and FAFSA preparation and submission to analysis of FAFSA results and award letter comparisons, all on an individual basis. If you have some general or specific questions and are looking for advice and guidance, general consulting is also provided.
If you are interested in these services or just have general questions regarding my services and credentials, feel free to email me at either of the addresses below:
slmconsulting@optonline.net or
julygirlhere@yahoo.com
SLM CONSULTING - Easing Your College Cost Concerns
Susan L. Mead
(845)883-6734
(845)264-9542 cell
Thursday, December 6, 2007
A great source of information!!
With all the materials that I read regarding financial aid, I come across both good and bad sources of information. When I find a good one with accurate information that can be of value to students and parents, I am happy to pass that along. So is true with www.FinancialAidNews.com
This publication is produced by the Student Loan Network, so keep in mind there will be a lot of student loan information, but there are also some great end of the year tips as well as scholarship announcements and access to their scholarship search database.
You can also subscribe to this publication so that you receive it on a monthly basis for free. If you are truly interested in finding out as much information as possible about financial aid (including what you read from me...lol)I would strongly suggest taking a look at the website above.
In the next few entries I'll be speaking about some of their end of the year tips that are addressed in the publication as well as regulatory updates that were announced recently through the U.S. Department of Education.
This publication is produced by the Student Loan Network, so keep in mind there will be a lot of student loan information, but there are also some great end of the year tips as well as scholarship announcements and access to their scholarship search database.
You can also subscribe to this publication so that you receive it on a monthly basis for free. If you are truly interested in finding out as much information as possible about financial aid (including what you read from me...lol)I would strongly suggest taking a look at the website above.
In the next few entries I'll be speaking about some of their end of the year tips that are addressed in the publication as well as regulatory updates that were announced recently through the U.S. Department of Education.
Wednesday, December 5, 2007
New scholarship information
If you haven't been looking for scholarships yet, ITS TIME!!!! Below is information from www.schoolsoup.com which is a scholarship search database. Their link is below the narrative.
"It is now "Zero Hour" for your students in their quest for college financial aid for next year. All students should explore every "free money" option available (grants and scholarships) before going the student loan route. Many scholarship application deadlines are coming up soon!
SchoolSoup provides students with the largest and most comprehensive scholarship database in the world - with over $32 Billion in scholarships - many times more than any other scholarship search website. Students have a better chance to find scholarships on SchoolSoup.com than anywhere else."
"It is now "Zero Hour" for your students in their quest for college financial aid for next year. All students should explore every "free money" option available (grants and scholarships) before going the student loan route. Many scholarship application deadlines are coming up soon!
SchoolSoup provides students with the largest and most comprehensive scholarship database in the world - with over $32 Billion in scholarships - many times more than any other scholarship search website. Students have a better chance to find scholarships on SchoolSoup.com than anywhere else."
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