Highlights from College Funding Night on Monday

For those of you who were unable to make it to the College Funding Night, here are some of the highlights:

Fill out your FAFSA early (FREE Application for Federal Student Aid) to get the most money.  January 1st is the ideal time to submit it, and you will need a PIN for the student and a PIN for one parent prior to this date.  If you don't have your taxes done by January 1, you can use last year's information for now and update it later.  www.fafsa.ed.gov   Make sure you list all the colleges you are considering at this time, so they will get your financial aid report :)

NEW!  When you finish your 2011 taxes, you can log back into your FAFSA and "autofill" your tax information by linking to the IRS website.  Cool!

It's best not to take out loans, but since most people DO take some loans, Terri offered the following advice:  If you DO take a loan, take the Federal Perkins Loan as your #1 choice as it has the lowest interest rate.  If you need another loan, the next best is a Subsidized Stafford Loan.  AVOID unsubsidized loans, PLUS loans, parent loans, or private loans if at all possible.

Once you have your FAFSA done, you can do the Oregon Student Assistance Commission scholarships (if you are going to college in Oregon) at www.getcollegefunds.org .  It's best to do this by February 1.

When you have narrowed down your college choices, you can apply for "institutional" financial aid by contacting each individual college's financial aid offices directly.  Each college will send you an "award letter" that tells you what they are offering you in scholarships, grants, and loans.

NEW!  If your family is paying for college for one or more students AND paying for tuition at WMS or another private elementary, middle, or high school, you can complete a "special circumstances" form at each individual college, and they may be able to offer you more money :)  Other special circumstances would be if you lose your job, have a lot of medical expenses, or any other unusual expenses that you couldn't specify on your FAFSA application.

Terri Crawford, our presenter and the Assistant Director of Financial Aid at George Fox University, has offered to answer individual questions that WMS students or parents may have regarding financial aid, regardless of whether or not you plan to attend GFU.  Her e-mail is tcrawford@georgefox.edu