Youth and Education
Financial Aid 101
by Jazmine Holifield
For high school seniors across the nation, it’s the time of year for meeting college deadlines. While some may have already been accepted into a college, most college-bound seniors worry about how they will pay for it. While some of the "chosen ones" are awarded scholarships, the majority is still left to come up with funds by themselves. Luckily for them, there are programs available to help lighten their tuition loads. One of these resources is financial aid.
What is financial aid?
There are three main types of aid: loans, grants and scholarships, and work-study programs. The major difference between those is that while loans must be repaid, reimbursement of grants, scholarships, and money earned through the work-study program is not required. The actual financial aid comes from federal, state, institution, and private lenders, though most schools set aside extra funds for those who still need additional financial help.
Financial aid is available to make up the difference between what your family can afford to pay and the actual college costs. This amount is called your EFC, Expected Family Contribution, and your EFC remains the same, no matter how high or low the tuition may be. Students can apply for financial aid by mail or online at www.FAFSA.ed.gov by filling out a FAFSA (Free Application for Federal Student Aid).
Financial Aid Myths
o College is too expensive for me and my family.
This is not necessarily true. Research shows that the average yearly tuition in public colleges and universities in the 2006-07 school year was $5,836.
o There is less money available now than there was before.
Wrong. In fact, aid money rose to a record high of $134 billion in the 2005-06 school year, but less of this money comes in the form of grants.
o My grades aren’t the best, so I won’t get enough financial aid.
This may be true for most scholarships, but the majority of aid is need-based and has nothing to do with your grades at all.
o Private schools are far out of reach for me.
It is known that tuition for private tuitions is usually notably higher than that of public schools, but you may actually have a better chance of receiving aid from one. Private colleges often seek to attract students from all financial backgrounds by offering more aid.
o I can’t receive aid because my parents make too much money.
Financial aid administrators take various aspects of your family’s financial background into account, such as mortgages, bills, and other factors, not just income.
Ways to lower college costs
Even after receiving financial aid, there are ways you can lower your college bills even more. Some students choose the option of attending a community college for 1-2 years, and then transferring to a 4-year institution later. Tuition at community colleges is significantly lower than tuition at a 4-year college or university. One can also choose to take cheaper summer courses, and then have those credits transferred to a regular school, making sure that the courses they take are transferable.
While some colleges require freshmen to live on campus, students who don’t attend these schools opt to save money by living at home and commuting to school. This will cut the cost of room and board fees, and can save you up to $6,000 per year.
Many colleges offer discounts on tuition within their school as well. Some offer free room and board in exchange for a certain number or work hours per week within the school, such as in a student union or bookstore. Reduced tuition is also offered at some schools to employees and employees’ children, student government leaders and editors, students who recruit other students, etc. For a complete list check the school’s website or visit 34 Ways to Reduce College Costs at www.studentaid.ed.gov.
Colleges usually offer reduced tuition for in-state students, but there are programs available here in Wisconsin where this can apply to out-of-state students as well. The tuition reciprocity between public universities in Wisconsin and Minnesota reduces the cost for Wisconsin residents to attend any public institution in Minnesota with at least part-time enrollment, and vise-versa.
This offer is extended to various schools in Michigan, Illinois, and Iowa as well. Visit www.heab.state.wi.us for the complete school listings.
When to apply/Important Deadlines
Although the final deadline is mid-summer, students are encouraged to apply as soon as possible after January 1st of each year. The priority deadline for financial aid applications usually falls in mid-February, and those applications get the highest consideration. Getting a head-start improves the chances of receiving aid from the maximum number of sources, so it is important that parents have their tax return filed as soon as possible because that information is needed to complete the form.
Completion of the FAFSA online must be done by midnight on July 2, 2007, and corrections must be made by September 17, 2007.
For additional state and school deadlines, check with your high school guidance counselor or a financial aid administrator. Additional forms may be required, so be sure to fill each schools separate financial aid forms as well as the FAFSA to ensure that you’ll receive as much aid as you can.
Works Cited
1. http://www.studentaid.ed.gov
2. http://www.heab.state.wi.us
3. http://www.collegeboard.com
4.http://www.FAFSA.ed.gov
Jazmine Holifield is a contributing MPS high school writer who will be contributing articles periodically on issues of interest to students.
UWM helps student blend learning with family and work
Have you been thinking about going to college, but aren’t sure how you can work classes and a daily commute to campus into a schedule that’s already full with a job and family needs?
The University of Wisconsin-Milwaukee is developing new ways to help students blend learning with their busy daily lives. The key is coursework that combines face-to-face classroom instruction with online, Web-based education.
UWM recently received a three-year, $500,000 grant from the Alfred P. Sloan Foundation to help develop a significant number of so-called "hybrid" classes, particularly for freshman and sophomores.
The goal is to help students by reducing the time it takes to earn a degree and making classes more available to busy learners who are already juggling work and family obligations.
Students will get the benefits of in-person teaching, but will also be able to handle large parts of their coursework by going online.
Among the initial blended programs UWM is developing are:
o Foundation (basic) freshman and sophomore courses
o Foundation film courses
o Bachelor’s degree programs in Early Childhood Education and Criminal Justice
o Master’s programs in Higher Education Administration, Occupational Therapy and Computer Science
o A foster parent certificate program
UWM already offers some courses online, and students already earn degrees through combinations of online and in-person classes. The grant from the Sloan Foundation will help increase the number and variety of blended courses, allowing more students to work toward degrees and certification.
"This is a wonderful opportunity to accelerate the growth of UWM’s blended programs and increase the number of baccalaureate degree holders in Southeastern Wisconsin," said Rita Cheng, provost and vice chancellor for academic affairs.
"Only 22 percent of Wisconsin residents 25 and older have at least a bachelor’s degree, which weakens the state economy. ‘Blending Life and Learning’ will open the doors to a university degree at a time when we need well-trained workers for the knowledge economy of the 21st century."
UWM’s Learning Technology Center (LTC), which consults with colleges and universities around the world, will be developing the blended courses.
The Sloan Foundation supports the growing trend toward blended courses because they allow more students to take classes and earn a degree from an accredited, local university.
Such blended programs give the students the benefit of working in-person with teachers and experiencing life on campus, while allowing them more flexibility to fit education into their lives.
While many potential students already have computers and internet access at home, there are options for those who don’t, says Robert Kaleta of the technology center.
Most neighborhood public libraries now offer free internet access and UWM’s Information and Media Technologies (IMT) Department offers discounts on computer purchases through a partnership with a major computer maker.
The campus also has free computer labs for those who want to catch up on online work between in-person classes.
Students will be able to enroll in some "Blending Life and Learning" courses as early as fall 2007. For more information on course offerings, e-mail uwm-blending@uwm.edu.
