3 Important Financial Aid Tips
Working in the college’s Financial Aid Office, I know first-hand how confusing and overwhelming the world of financial aid & financial literacy can be. So I’d like to outline 3 important tips for college students – all of which relate to a student’s success and education, which is our top priority!
Tip #1 – Apply on time at www.studentaid.gov
File that FAFSA early! Did you know awards like the Colorado Student Grant & work study have limited funds? This means these are often first come, first serve. Our priority deadline is April 1st, 2013. (Please note meeting the priority deadline does not guarantee these awards).
Need help with your new 13/14 FAFSA? Then we’d love to have you at College Goal Sunday on February 10th! For more information: http://collegegoalcolorado.org/.
Tip #2 – Only borrow what you need in Stafford loans
I know it’s tempting to accept your full Stafford loan offer. Remember though, it is money you have to pay back (with interest!) after you leave school. I encourage students to seek work study positions and scholarships which can often take some burden off loans. Additionally, we can help you break down all of your education related costs to see if borrowing just some of your loans will cover you!
Tip #3 – Be aware of the SAP Policy
The U.S. Department of Education requires students to follow their Satisfactory Academic Progress (SAP) policy. The nitty gritty? Students receiving financial aid must maintain a 2.0 GPA and a 67% Course Completion Rate, in addition to finishing their program within 150% of its timeframe. If you ever have a situation where you must withdraw from or not pass a course, come talk to us! We want to educate you on your options, the potential consequences, and if it will have an effect on your aid. And remember, Front Range has tutoring services, placement testing, and much more to ensure your academic success!