The internet has made financial aid applications quicker and easier to fill out; however, everyone has different needs and comes from different circumstances; that's where a Financial Aid professional comes in. Their job is to assist you with the completion of forms as well as to explain the processes and opportunities that are available. There are a number of questions worth asking that will help you attain find the financial aid package that's appropriate for you. If you're not familiar with the types of financial assistance available you should inquire about that first.
Financial aid can come in the form of a scholarship, grant, loan or work study job. It can also be administered by the federal government, state, school and other organizations. In order to be eligible for any of the above, a student must complete the Free Application for Federal Student Aid (FAFSA). You may want to ask the financial aid professional questions such as: How do I fill out the FAFSA correctly? How can I make sure the school I want to attend receives my FAFSA? Are there any other applications I need to complete? When are the applications due? When do I find out the result of my application?
After that, you'll want to ask questions that are geared towards the school where you are planning to enroll. The best financial aid packages can be figured out by establishing what the out-of-pocket cost will amount to. The following questions will help in determining the above: What specific types of financial assistance does the college offer (need-based, academic, athletic)? How does your school's financial aid award measure up to other schools'? What does that award include (tuition, housing, books, transportation)? What if I don't agree with the amount of aid that the school is willing to offer me? Does it matter if I am a full-time or part-time student?
Your status as a part-time or full-time student can impact the financial assistance that you're eligible for. In many cases, students are required to maintain a certain number of classes or credits, or a set grade point average, in order to be eligible for aid. Ask the professional: Does my intended course of study meet the criteria? What if I need to drop or add a class? Will my aid change?
The answers to these questions can play a role in your ultimate decision.
Inquire as to when and how you receive your financial aid. What happens if there's a leftover balance? How much of the money am I required to pay back? What is the time frame in paying back the money/loan? Is it automatically renewed? How do I know if or when my application expires? Will the aid be effective for every semester and beyond the first year? These are important because you should have a clear picture of the category your aid falls into and what responsibilities or commitments that entails.
Other questions that are good to ask are: Can I receive financial aid from more than one source? Does financial aid count towards programs or classes that are off-campus or abroad? What can I do if my family's financial situation drastically changes after I've already accepted a specific aid package? Are there different payment options available or any additional funding that I might be eligible for?
Prior to meeting with the financial aid professional, it's a good idea to make a personal outline that consists of your goals, a budget that illustrates your financial situation and any other information that you think he might ask for. You can also visit a number of helpful financial sites online; there are a number of financial awards designated for individuals based on things like their race, gender, intended major, community service, extracurricular activities and academic standing.