Five New Year’s financial aid tips for seniors

Hello all! As I’m sure you know New Year’s is a time of new beginnings and clean slates. But it is also the time where your thoughts will center on money. In a couple of months or less, you’ll be receiving responses from prospective colleges. You will choose to go to a certain school and will probably base much of that decision on money.

Here are some financial aid tips to keep in mind during early 2014:

Fill out the FAFSA as soon as you can
For your freshman year, you need to send in your FAFSA very early (check specific deadlines). It is a pain, but make sure that you sit down with your parents and apply for federal financial aid as close to Jan. 1 as possible. *Note: Make sure you or your parent goes in and makes the appropriate changes to the FAFSA once the family receives its tax returns.*

Go to Financial Aid Day
Many local colleges host a day to help you and your family apply for financial aid. There will be financial aid representatives there to answer your questions and to help you fill out the FAFSA correctly. These events make the process a whole lot less intimidating.

Remember the extras
You will need to fill out a special form to apply for state financial aid (it is usually linked to the FAFSA). However, some schools require extra forms or questionnaires to determine what you should receive in aid. Make sure you know about the extras and when they are due.

No financial aid package = a bad sign
Not to be a downer, but if the prospective school does not provide a hint about the money you will receive in your acceptance letter, don’t set your heart on going there. You probably won’t receive much money. Usually, a school will offer its aid upfront to persuade you to attend. There is a chance your dream school will send you your dream scholarship after your acceptance letter. But I wouldn’t count on it.

Keep applying for school/local scholarships
Apply, apply, apply. There are plenty of scholarships out there. Ask your school counselor for applications. Ask your parents if their workplaces or unions offer rewards. Look online and on NextStepU.com. Find as much financial aid as you can.

Written by Rachel Montpelier. Rachel is a senior at Nazareth College in Rochester, N.Y. and is the editorial assistant at NextStepU.

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