When it comes to Financial Aid, you want to get started early. The sooner you can get your Free Applications for Federal Student Aid (FAFSA) finished or turn in all of your paperwork the better. Remember, it takes time for all your paperwork and information to be processed.
Here are a few tips that can help you efficiently handle your Financial Aid and ease the process of starting the semester.
Be aware of changes. For example, this semester the university stopped accepting the federal 1040/A/EZ tax forms as valid documentation. Instead they asked for the submission of tax transcripts. Child support payments and food stamps were included as items to be verified. There were also changes made to loan interest rates and Pell grant eligibility. If you didn’t pay heed to the notifications via email and letters from the Office of Financial Aid and were unaware of these changes until the last minute, then it could have slowed down your application process. This could lead to you not receiving any of your aid money before the start of the semester and having to pay for your tuition out of pocket.
Know the availability of your funds. Tuition can be expensive, especially with budget cuts and increased student fees. Fortunately, the university offers services such as a payment plan, which can split the amount you owe into three monthly payments, including a $45 service charge. There is also the option of an emergency loan which you can pay back in a month. However, the emergency loans can run out of funds, making them a non-option to the student who waits until the last minute.
Look out for tools that can help you complete your tax information next time around. The Office of Financial Aid has worksheets that can help you gather all of the information you need for your FAFSA. Additionally, the IRS Data Retrieval Process can help make populating and filing your FAFSA much easier.
Be respectful when dealing with the receptionists. It’s their job to help you and they’re happy to do it. Be patient if you have to wait in line. If you don’t want to deal with a forty-five minute wait on North Campus then you shouldn’t try to get all of your information turned in two days before classes start. Try to realize that you aren’t the only one with problems and a good attitude will encourage people to want to work with you more.
You can’t expect everything to fall into place at the last minute. There’s plenty of time, especially in the summer, to get all of your taxes filed and all of your paperwork turned in. I can’t stress this enough. The sooner you can get things done the better. So many people wait until the week school starts to take care of their financial aid. If you are able to do things earlier, then get them done earlier. There’s no need to put too much stress on yourself when preparing to start classes at the same time.
Note that the deadline to apply for financial aid for the spring semester is Oct. 15. More information about financial aid can be found on the web at www.selu.edu/fin_aid. Questions regarding financial aid can be directed to their offices on North Campus, by phone at 985-549-2244 or toll free at 1-800-222-7358.