Financial Aid Recipients…Time for a Check-Up!

Financial Aid Check List

Financial Aid Recipients, Listen Up!  Now that classes have begun, you need to take some time, before the end of the semester, to revisit your financial aid award package commitment.  

In addition, the checklist below gives you some great suggestions to manage your financial aid more effectively while you’re in college. Do take advantage of these insider tips and strategies.

Always keep in mind that to know is to have choice.  And making the best choices possible should always be one of your primary goals in your college and career pursuits!

Excess Award Check Announcement

Financial Aid Recipients – Use Your Excess Funds Wisely!

  • First of all, re-read thoroughly your financial aid package award commitment letter. Clearly understand your particular financial aid obligations.
  • And, if you truly don’t understand, don’t blow it off…make an appointment to see a financial aid adviser.
  • Remember, the financial aid process can be quite complex, particularly if you procrastinate and/or ignore your financial responsibilities.
  • There are, however, online information resources which can also help you navigate any concerns or issues you may have.
  • Whenever it comes to financial aid questions, problems, or issues, always go directly to the source (Financial Aid Office) for your answers.
  • And don’t rely solely on your peers, friends, or family members for financial aid advice.
  • Furthermore, as a financial aid recipient, you really do need to know facts, not rumors and/or speculation!

Financial Aid Recipients’ Reminder – Ask Questions!

  • Also, during your visits with your financial aid adviser, always ask questions, get clarifications, and definitely takes notes.
  • There are “strings” (obligations) attached to most awards.  Find out what they are and follow them accordingly
  • If you receive a financial aid excess award check or have a financial aid award balance in your campus student account, make a calculated, educationally beneficial decision on how to use that money.
  • Use of excess financial aid award funds can be either a blessing for use throughout each semester or a potential barrier to your pre and post graduation life experiences.
  • Make wise decisions and not foolish ones when deciding on how to use excess financial aid award funds.
  • And if you received College Work-Study funds as part of your financial aid package, remember, you must earn the funds.  This is a great work experience opportunity.  Check out both on and off campus College Work-Study job opportunities.

Additional Insider Tips

  • As a financial aid recipient, you do have to apply annually for student financial aid using the Free Application for Federal StudentAid (FAFSA).
  • You’ll find that having an accessible record of your previous financial aid application may even simplify the submission process of your next financial aid application.
  • And check to see if your particular campus has additional financial aid application requirements.
  • Also, always add the Financial Aid Deadline dates to your iPhone, Android, laptop, or desktop calendar.
  • The Federal Government requires that you to “Make Satisfactory Academic Progress”THIS information is critical for you to know so you can plan your coursework accordingly.
  • Your financial aid adviser is the Make Satisfactory Academic Progress expert.
  • The sooner you understand your student loan recipient obligations, the better off you will be at graduation time.
  • Also, don’t wait until your senior year to learn about your student debt and/or repayment options.

    Financial Aid Recipients

    Financial Aid Recipients – Learn Budgeting Now, Not After Graduation!

  • If you have Federal student loans, make sure you investigate their very liberal repayment and forgiveness options.
  • Planning to study domestically and/or abroad? Then find out now how your financial aid package can influence your ultimate decision to do so.
  • Received any “outside” scholarships, like from your high school and/or community organizations? Find out if it is a one year or multi year award and do they require any academic obligations.
  • Lastly, make sure you have copies of all submitted financial aid records including your financial aid adviser meeting notes. You will be referring to them throughout your college career.

 

Have a great, productive, and successful semester!

NOTE: One of Dr. Jackman’s previous professional lives was serving as Director of Student Financial Aid at a major urban public university.