Navigating Through The Hard Part: Financial Aid
Megan explores the challenges of submitting financial aid forms while offering practical solutions for those navigating through the process.
For many students, the time to apply for colleges can be a challenging experience, especially when money is a huge obstacle. The American college system is notorious for heavy tuition fees, one that I failed to recognize at first. While I wished to leave my home state to have the dorm life experience that I had seen in movies, I did not realize that the costs could be astronomical. Although my high school encouraged us to apply widely, the issue of financial aid stayed in the background of all my post-high school plans.
During the application process phase, however, I realized the importance of financial help in order to gain that college experience I truly wanted. At the time, I noticed that the schools that I applied to needed a lot of personal financial information that I did not have any experience with – income taxes, how to demonstrate need, summer contributions, etc. Yet, I was only able to receive my financial aid package through the intense help of my parents and others who already had experience applying. Without the continuous support from my family and anecdotal advice and mentorship from individuals who had went through the process, gaining financial help would have been very strenuous.
Since then, I continuously submitted financial aid forms at the college of my choice every year. One great thing about the university I attended was their need-based all-grant program. This non-repayable financial aid is preferable to loans since it assures that students will have no worries about paying their finances back years later. Many other institutions have similar grant programs that allow students to focus more on education rather than on the burden of debt. However, even where grants are not an option, there are many other alternatives and numerous scholarship programs that have differing qualifications. Some programs are geared specifically to people of color while others are aimed at aiding students with specific passions.
Looking back now, a huge tip regarding the financial aid process would be to start submitting forms early. The Free Application for Student Aid (FAFSA) has a strict deadline and most schools require this form. However, many colleges and universities have their own documents and supplementary materials that they require. The quicker you learn what each institution you are applying to needs, the less stressful this whole process will be. Another tip to keep in mind is that the preliminary aid offer that you receive does not have to be the final one. Negotiating with these institutions is sometimes a requirement to getting the best offer that shares the least amount of burden to you and your family.
Lastly, do not be afraid to ask for extra clarifications. These forms are tricky, even for the trained accountant, so don’t be afraid to reach out to your guidance counselors or mentors.
Good luck!
Megan is RBTM Inc.'s Mentor Coordinator/Secretary. She is a huge music junkie who still buys physical CDs. You can contact Megan at megharewood@gmail.com.
