{"85451":{"#nid":"85451","#data":{"type":"news","title":"Financial Aid Director Offers Tips on Getting Money for College","body":[{"value":"\u003Cp\u003ESo, you\u0027ve run yourself ragged making sure your college-bound teenager got his or her admissions applications in on time and now it\u0027s time to relax, right?  Sorry, but there\u0027s still the issue of how you\u0027re going to pay for it all.  With the economy and tuition jumping in opposite directions, many families who never thought they would need help paying for their kid\u0027s education are finding themselves daunted by the prospect of funding four (or five) years of the college experience.  But college financial aid offices can help.  Marie Mons, director of Student Financial Planning and Services at Georgia Tech in Atlanta, answers some common questions and tells parents and students the seven deadly sins to avoid when playing the college financial aid game.\u003C\/p\u003E\n\u003Cp\u003E\n\u003C\/p\u003E\u003Cp\u003EQ:  Should I apply for financial aid, even if I think I won\u0027t get it because I make too much money?\u003Cbr \/\u003EA:  Absolutely.  We can\u0027t promise that if you apply for aid, you\u0027ll get it.  But we can promise you won\u0027t get it if you don\u0027t apply. \u003C\/p\u003E\n\u003Cp\u003EQ: Is the admissions application the same as a financial aid application?\u003Cbr \/\u003EA:  In most cases, no.  At most schools you still need to fill out a financial aid application if you want to apply for scholarships and federally financed student loans and grants.\u003C\/p\u003E\n\u003Cp\u003EQ:  What is a FAFSA and do I really need to fill it out?\u003Cbr \/\u003EA:  The FAFSA is the Free Application for Federal Student Aid, and as the name implies, there is no application fee.  The U.S. Department of Education requires that you fill one out if you want to receive federally financed grants and loans.  The FAFSA measures the your ability to contribute financially to your child\u0027s education.  The good news is you don\u0027t have to fill out one for each school that your son or daughter has applied to, because the Department of Education sends your form to all the schools you select.\u003C\/p\u003E\n\u003Cp\u003EQ:  Once I fill out the FAFSA, do I still need to fill out a financial aid application?\u003Cbr \/\u003EA:  Every school is different, but in most cases you\u0027ll need to fill out both forms.  When in doubt call your school\u0027s financial aid office, believe it or not, we actually like helping people get money and we want to make sure you get whatever assistance you qualify for.\u003C\/p\u003E\n\u003Cp\u003EQ:  How do you determine what I have to pay?\u003Cbr \/\u003EA:  Well, first your student has to be accepted to the university, naturally.  After that, we rely on the income and necessary expenditure statements that you provide, as well as your tax statements.  And no, that trip to Europe you took last summer and that new BMW you just bought doesn\u0027t count toward your necessary expenditures. We\u0027re looking at true necessities, like if someone in your family requires expensive medical care.  Of course, we do flag some applications to verify the information in them.  The Department of Education also verifies some applications.\u003C\/p\u003E\n\u003Cp\u003EQ:  You look at my tax statements?  What if I haven\u0027t filed yet, or I need an extension?\u003Cbr \/\u003EA:  Be careful about filing for extensions, because it can delay your award.  If we find we need to \u0022verify\u0022 your statements, then that could add even more time, while other parents and students are snatching up the available money, which could end up affecting your award.\u003C\/p\u003E\n\u003Cp\u003EQ:  How much financial information do I need to put on those aid forms?A:  All household income and most assests, including your own and your spouse\u0027s as well as your student\u0027s income.  Some schools require additional information, like the student\u0027s grandparents\u0027 income and\/or income from divorced parents.\u003C\/p\u003E\n\u003Cp\u003EQ:  What happens if my financial circumstances change after I\u0027ve submitted my forms?  For instance, if someone in the household loses a job?\u003Cbr \/\u003EA:  Unfortunately, that situation is becoming more common in this economy.  If that happens, contact your school\u0027s financial aid office and let them know.  They\u0027ll be able to tell you the procedure they use for documenting changes in financial status.  Of course, if you win the lottery, the financial aid office will want to know that too, but then again, they\u0027ll probably see it on the news.\u003C\/p\u003E\n\u003Cp\u003EQ:  What if my student has special needs?  Is that taken into account when determining the amount of financial aid?\u003Cbr \/\u003EA:  If your student has needs that will make the cost of his or her education more expensive than that of the typical student, such as special materials for the visually impaired, then you might be eligible to receive more aid.  Be sure to let your school\u0027s financial aid office know if your child has any special circumstances.\u003C\/p\u003E\n\u003Cp\u003EQ:  Can\u0027t I just declare my child financially independent and be done with it?\u003Cbr \/\u003EA:  Nice try, but unless your child is older than 24, applying to graduate school, a veteran with an honorable discharge, married, has legal dependants of his or her own, or is an orphan (in which case we wouldn\u0027t be having this conversation), the federal government considers your child to be financially dependent on you.\u003C\/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EThe Seven Deadly Sins People Commit When Trying to Get Financial Aid\u003C\/strong\u003E\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ESkip the application.\u003C\/em\u003E\u003Cbr \/\u003EIt\u0027s like the lotto.  You can\u0027t win if you don\u0027t play.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EApply late.\u003C\/em\u003E\u003Cbr \/\u003EDeadlines are important and most people applying for aid meet them.  So, don\u0027t expect much sympathy if you\u0027re late.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EApply incompletely.\u003C\/em\u003E\u003Cbr \/\u003EThe applications are important, so fill in every line.  This is not the SAT, where you\u0027re supposed to leave a question blank if you don\u0027t know the answer.  If you don\u0027t know the answer, find out, or call the financial aid office for help.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EDon\u0027t accept the offer.\u003C\/em\u003E\u003Cbr \/\u003EIf you don\u0027t respond to the offer for aid, the financial aid office assumes you don\u0027t want the money.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ERefuse to provide a social security number or provide an incorrect number.\u003C\/em\u003E\u003Cbr \/\u003EThis is government money.  They already know your social security number.  So, while it\u0027s not a good idea to give your social security number to telemarketers or the guy on the corner selling hot dogs, giving it to the financial aid office is essential if you want the money.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ENeglect to report changes in financial circumstances.\u003C\/em\u003E\u003Cbr \/\u003EIf your financial resources suddenly bottom out, let the financial aid office know.  Many awards are based on financial need, so if you have that need, make it known.\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EWait until you receive an admissions acceptance letter before applying for aid.\u003C\/em\u003E\u003Cbr \/\u003EFor many schools the deadline for applying for financial aid is close to or earlier than the day they send out acceptance letters.  So, give yourself enough time and apply early so you don\u0027t commit sin number two.\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"So, you\u0027ve run yourself ragged making sure your college-bound teenager got his or her admissions applications in on time and now it\u0027s time to relax, right?  Sorry, but there\u0027s still the issue of how you\u0027re going to pay for it all.  With the economy and tuition jumping in opposite directions, many families who never thought they would need help paying for their kid\u0027s education are finding themselves daunted by the prospect of funding four (or five) years of the college experience.  But college financial aid offices can help.  Marie Mons, director of Student Financial Planning and Services at Georgia Tech in Atlanta, answers some common questions and tells parents and students the seven deadly sins to avoid when playing the college financial aid game.","format":"limited_html"}],"field_summary_sentence":"","uid":"27304","created_gmt":"2003-03-03 01:00:00","changed_gmt":"2016-10-08 03:02:10","author":"Matthew Nagel","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2003-02-11T00:00:00-05:00","iso_date":"2003-02-11T00:00:00-05:00","tz":"America\/New_York"},"extras":[],"hg_media":{"85461":{"id":"85461","type":"image","title":"Marie Mons, Director of Student Financial Planning","body":null,"created":"1449178110","gmt_created":"2015-12-03 21:28:30","changed":"1475894706","gmt_changed":"2016-10-08 02:45:06"}},"media_ids":["85461"],"related_links":[{"url":"http:\/\/www.finaid.gatech.edu\/","title":"Financial Aid"}],"groups":[{"id":"1214","name":"News Room"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Cstrong\u003EGeorgia Tech Media Relations\u003C\/strong\u003E\u003Cbr \/\u003ELaura Diamond\u003Cbr \/\u003E\u003Ca href=\u0022mailto:laura.diamond@comm.gatech.edu\u0022\u003Elaura.diamond@comm.gatech.edu\u003C\/a\u003E\u003Cbr \/\u003E404-894-6016\u003Cbr \/\u003EJason Maderer\u003Cbr \/\u003E\u003Ca href=\u0022mailto:maderer@gatech.edu\u0022\u003Emaderer@gatech.edu\u003C\/a\u003E\u003Cbr \/\u003E404-660-2926\u003C\/p\u003E","format":"limited_html"}],"email":["david.terraso@comm.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}