For new students, transfer students and returning students with financial need, there are opportunities to work on campus within the Federal Work Study program. The Federal Work Study program is a Federal Student Aid program intended to provide jobs for eligible students who need financial assistance to attend college. This opportunity can help you to gain the necessary experience for a future career. For example, have you ever wanted to work in an office setting but only have experience working in fast food or factories?
As part of their financial aid award, a student may be offered a combination of Subsidized and Unsubsidized student loans. These are Federal loans that are very similar in many ways, but there are differences. Do you know the difference and which you should accept?
On May 10, 2015, the Department of Education changed the way you log in to Federal Student Aid websites. Students, parents, and borrowers are now required to use an FSA ID, instead of a Federal Student Aid PIN, to log in. If you haven’t logged in to a Federal Student Aid website (such as fafsa.gov or StudentLoans.gov) since May 10, 2015 you will need to create an FSA ID before you can log on in the future.
If you’re among the millions of current or former students with debt, you’ve probably been tempted to click on an ad that says, “Obama Wants to Forgive Your Student Loans!” or “Erase Default Statuses in 4 – 6 Weeks!” or some equally enticing student loan debt relief offer … available only if you click or call NOW!
Many the companies behind these offers have sophisticated marketing tactics to target unsuspecting students, borrowers, parents, military service members, and their families. In the Financial Aid Office, unfortunately I hear about these pitches a lot. My advice: Before you pay somebody to help you with your student loans, do your homework.
Graduation is right around the corner. If you used student loans to help finance your education at Moraine Park, you will need to start thinking about repayment. When it comes to repaying your federal student loans, there’s a lot to consider. By taking the time to understand the details of repayment, you can save yourself time and money.
Do you know what to do if you can’t afford life’s necessities? How about why your credit score is important? What about handling issues repaying your student loans?
As part of Financial Literacy month, Moraine Park Technical College encourages you to learn more about your personal financial situation using some of the great resources that the College provides. There will be displays and events all month long! Stop at any campus library to pick up some financial goodies (and maybe a treat or two!) Check out the MPTC library materials on personal finance. Be on the look out for some stress-busting and financial-knowledge-boosting activities around campus including a Scavenger Hunt contest!
Don’t fall for it! Here are seven common mistakes applying for financial aid:
Not Completing the FAFSA
Students state all kinds of reasons: “The FAFSA is too hard,” “It takes too long to complete,” I never qualify anyway, so why does it matter.” It does matter. By not completing the FAFSA, students may be missing out on the opportunity to qualify for what could be thousands of dollars to help pay for college.
Not Being Prepared
The online FAFSA has gotten a lot easier over the last few years. But, the key to making the FAFSA simple is being prepared. Students can save a lot of time by gathering their information before they start the application.