| Top ideas for non-loan financial aid |
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| Written by Joan Khalaf, The Shorthorn staff | ||||
| Wednesday, 12 August 2009 02:23 PM | ||||
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There’s money to help everyone pay portions of their college expenses, and resources exist to help snag it. The Financial Aid Office distributed about $150 million in aid money to students last year, and that number is expected to go up with the next round of awardees this year. Students who file the Free Application for Federal Student Aid (FAFSA) may get some type of aid from the university. After the application is completed, the information is sent to the university and the office determines the need of each student based on federal guidelines. Students may receive scholarships, grants or loans — depending on how early they apply and how much need is shown. Financial Aid Director Karen Krause said that while students can fill out the FAFSA starting Jan. 1, she suggests students start doing so by February or March since it’s unusual for someone to have updated tax information before then. Broadcast news senior Sarah Macias recommends students avoid taking out a loan, as it would have to be paid back. “Apply for scholarships as soon as you know they’re out,” she said. “Do it right away and you get more money the quicker you do it.” Although the deadline for aid through the office was May 15, there are other sources for financial aid. Web sites like fastweb.com, findtuition.com and others act as liaisons for companies that offer college financial aid. Individual colleges and departments also offer scholarships. Krause said those are most often offered to upperclassmen. Krause said a database at the Financial Aid Office shows over 100 small, local scholarship opportunities for students. Architecture sophomore Daniel Cahak advises getting a low interest rate if taking out loans. “You really don’t think about it until the banks call you,” he said. “The interest rate builds up fast.” Krause encourages students to make appointments with the office. “That way, we’ve got the time to sit down with them,” she said. Views: 1015 | E-mail
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| Last Updated ( Wednesday, 12 August 2009 02:24 PM ) | ||||
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