How to Handle the Financial Aid Process???? Confused by the financial aid maze? Never fear — here’s the low-down on acing this obstacle course. Most of these points will be repeated a number of times throughout this document.
Tips:
1. Check out “FAFSA on the Web”. It’s a great site from the U.S. Department of Education that lets you fill out, submit, and check the status of your FAFSA — all from your computer! You and your mouse can get things moving. Yes, ‘customer service’ is available to help if you encounter trouble.
2. Remember that there’s always more aid available than meets the eye — and the student who does the most legwork is most likely to win the game!
3. Don’t just fish in the “mainstream”. A great way to find scholarships “outside the box” is to visit your favorite Web search engine. I typed in “chess scholarship” (without the quotes) and I found that the University of Texas at Dallas is actively recruiting talented chess players via scholarships and has offered scholarships to several players in the past. The University of Maryland, Baltimore County also has an extensive chess scholarship program.
Here’s the ‘$even $teps’ to win the “Dollar$ for $cholar$ race:
1. Meet with your guidance counselor to discuss possible financial aid availability during your sophomore year of high school. Many private scholarships have early deadlines. (If you’re already later than this, don’t despair, but get moving!)
2. Use what you learn — apply! When your counselor gives you application forms, fill them out. Yes, and mail them, too! They won’t win you any money gathering dust in your desk drawer!
3. Don’t overlook regional and local scholarships — because the applicant pool is much smaller, you may have a better chance of success.
4. Consider scholarships targeted toward a specific niche — for example, scholarships for cellists, chess players, or Chinese-Americans might net you better results than the open-to-all Coca-Cola Scholarship. [On the other hand, don’t neglect the Coca-Cola Scholarship, or any other for which you are eligible.
5. Fill out that FAFSA as early as possible. The U.S. government and most colleges use this form to determine your eligibility for federal aid. The new (revised) FAFSA is available on January 1 of each year that you will be attending college. Do remember to submit a new FAFSA every school year. It doesn’t carry over.
6. Wait. Wait patiently. This can be difficult, but you’ll enjoy life more if you’re not stressed out constantly. When you receive acceptance letters from colleges, you’ll also receive financial aid notices detailing each college’s aid offer.
7. Never stop looking — you can apply for new forms of aid each year (while always remembering to reapply for existing aid). Most scholarships require some form of renewal paperwork, even if it is minimal, every year. Don’t overlook school-specific scholarships funded by rich alumni, corporations, and other benefactors.