Tag Archive | students

Financial Aid 101

Here’s some basic information that doesn’t change much… for more help on college planning go to www.collegelifeplanning.com

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Financial Aid 101

Financial aid is simply money that helps you pay for college. There are three kinds:


Grants, also called scholarships or gift aid, are the best kind of financial aid. They are free money that you don’t have to pay back. Generally, grants are awarded for one of three reasons:

Need: The student has qualified as financially needy, usually by filling out the Free Application for Federal Student Aid (FAFSA), or the CSS Profile.

Merit: The student is being rewarded for good grades, athletic skill, musical talent, etc.

Employment benefit: The student or the parent qualifies for tuition assistance through an employer. Many universities, for example, give employees’ children a break on tuition.


Loans are debts that you have to pay back and are obviously not as good grants. Some loans, such as federal Stafford and Perkins loans for students, are considered financial aid because taxpayers subsidize the rates so that students can borrow at a lower cost than they would get from a bank. A few charities and schools are even offering college loans at zero percent interest. The federal government calls its PLUS loans for parents financial aid. But many counselors note that some parents with good credit can borrow more cheaply from banks than from the PLUS program.


The federal government subsidizes some campus and nonprofit jobs for students. Generally, work-study jobs are awarded only to students who the college says are financially needy. The jobs typically don’t pay especially well. Students may find better-paying jobs off campus. But work-study jobs have advantages. Their earnings don’t reduce the student’s future financial aid awards. Their schedules coincide with the school’s. They are typically on campus, which reduces any commute hassle. And they are typically limited to fewer than 15 hours a week, so they jibe with studies showing that students who work between five and 15 hours a week actually get better grades than those who don’t work at all or work more hours.

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7 Ways to Cut College Costs

Pay attention to this stuff, it may help save you thousands.
For more college planning help, go to www.collegelifeplanning.com

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7 Ways to Cut College Costs

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Does anybody else out there think it’s obscene that dozens of schools now charge more than $50,000 a year?

These price tags are frightening, but they are also largely meaningless. That’s because most families will not pay anywhere close to $50,000 for a school.

1. Don’t just look in your backyard. About one out of every three college students attends a school that’s no more than 50 miles away. And most of these schools are public institutions.

For some students, however, distant private colleges will cost less than public universities after financial aid and scholarships. My son’s best friend in San Diego, for example, will be attending Carleton College in the fall after receiving a large financial aid package from the liberal arts college in Northfield, Minn.

The price tag for Carleton College’s tuition and room and board is more than $52,000, but it will cost my son’s friend just $7,000 or $8,000 a year. That’s some deal.

2. Pay attention to graduation rates. Most families mistakenly assume that their children will graduate in four years. Fewer than 60 percent of college students graduate in six years! Always examine a school’s graduation rates and find out what it takes to get out in eight semesters. The U.S. News Best Colleges rankings and College Results Online are resources that can help you pinpoint grad rates.

3. Look for the schools with generous financial aid packages. A good place to evaluate the generosity of a school is to look at its financial aid statistics on the federal College Navigator site.

4. Obtain a preliminary EFC. Before you begin looking at schools, check what your family’s Expected Family Contribution will be. This will be the amount of money, at a minimum, that you will need to cough up for one year of college. In many cases, you will have to provide more than that figure. You can find online EFC calculators at FinAid.org and the College Board.

5. Apply for aid regardless of your income. Families that make $150,000 to $200,000 a year can sometimes qualify for significant need-based aid at pricey colleges. If you don’t file the FAFSA—and the CSS/Financial Aid PROFILE for some private schools—you won’t qualify for need-based help. Without completing the FAFSA, you also won’t have access to federal college loans.

6. Look for merit scholarships. At private schools, 82 percent of students receive merit aid. About two-thirds of students at public and private institutions combined receive some type of grant. An excellent resource for scholarships that colleges offer—the biggest source of college grants—is MeritAid.com.

7. Beware of reach schools. The danger of reach schools is that they often give little or no financial aid or scholarships to students who barely get in. Most schools reserve their best aid packages to the students they really covet.

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Roles of Advisers: a Cal Poly Perspective:

By: Kathryn Rummell

The first recipient of the Outstanding Faculty Advisor Award

Because each college handles advising differently and faculty advisors’ jobs vary even within colleges, your first task is to be sure you understand your role as a faculty advisor and how faculty advisors function within the department and college.

Do your majors come to their faculty advisors for help with the curriculum, rules and regulations, and special petitions? Or do they primarily seek faculty advisors’ help with issues concerning professional training (standardized tests, internship opportunities, and the like)?

Are students assigned to advisors or do they choose their own based on their interests?

How many students will you typically advise, and how often will your advisees need to see you?

Will you be responsible for seeing students on academic probation?

If so, what does your department expect from your meeting?

In most cases, your department chair (or lead advisor) can help you understand your role as an advisor, but you should also get to know your college advisor; he or she can prove invaluable in answering questions and helping you navigate the advising system.

Once you understand what your advising responsibilities are, you are ready to meet your advisees. Regardless of your role, remember that your primary goal is to help students succeed at Cal Poly.

The First Meeting

At your first meeting with an advisee, you should begin by getting to know the student on an individual level (don’t forget to introduce yourself!). This first meeting should establish a personal connection between you and your advisee so that he/she feels comfortable coming to you with questions and problems.

In addition, depending on your advising role, you might also go over a curriculum sheet with your advisee, highlighting the requirements for the degree (major/support courses, GE courses, free electives, GWR, USCP, upper-division requirements, and GPA requirements). End the meeting on a positive note, encouraging the student to check in with you at least once a year, more frequently if questions arise.

And finally, to help you remember your advisees, you might keep a file or note card for each advisee, indicating when you met with the student and what you discussed. Doing so means that you can easily get up to speed on the student’s particular situation.