Florida DeMolay

Mrs. Elizabeth Carter is the Financial Aid Officer at a private college in Illinois. She has graciously given us the advice that she would give to all prospective college students, so that we can share it with you. This will give you a look at Financial Aid from “the other side of the desk”. We sincerely thank Mrs. Carter for sharing this information with us, and trust you will pay close attention to it.

After reviewing her material; we have summarized the main points as follows:

• Apply early. When available funds begin to run short, it is harder to get the full amount that you need from any prospective college. Apply as soon as the necessary paperwork can be submitted. Make your FAO’s job of finding funds to help you easier.
• There are people on your side that you don’t even know. Many students receive Financial Aid made possible by church bodies, organizations, and groups that they don’t even know exist. Your goal of preparing for you life’s work is a worthy one, and one of the best investments of time and money you will ever make. You are being supported in this goal by people who want you to succeed, people who are doing their part to make your success possible. Although a large amount of financial aid comes from the U.S. Government, much of the available money comes from private individuals, directly or through foundations.
• File your FAFSA electronically. [Note: This rule is NOT to be followed if unusual or special circumstances exist in your case (see EFC page 2 of "Glossary" section)]. After you have filled in all the necessary information, go “on-line” to file your Free Application for Federal Student Aid (FAFSA) form. It will be received sooner, processed faster and the results will be available sooner to the college, so sources of funding can be committed to you sooner (while still available). File through the college Financial Aid office or from the school’s computer lab.
• How Grant and Loan Money is handled. These funds are usually paid, in your name, directly to the school in two payments yearly, usually within 30 days of the start of the school year, and again half way through the school year. In some cases, money for books and other expenses will be sent to the student in the form of a check for books and supplies. Money from Stafford Loans or parent’s PLUS Loans may be paid to the student or the parents directly, for use in paying expenses such as off campus housing, transportation, food costs, etc.
• You must keep yourself eligible for your Aid Package. You must maintain good academic standing with your school, or be making acceptable progress in that direction, to keep your Aid package. This means maintaining acceptable attendance in classes, even 8 AM classes. Should your situation change in any way (if you marry, move, withdraw from school, or graduate) you must inform your school and any lending institutions you are dealing with. Repayment of any loans you have received is necessary, and failure will disqualify you from future Financial Aid if you should decide to return to school.