Hi! Megan here. Today is all about financial aid.

But first, here’s one last reminder for our Transfer Visit Day this Saturday!  It’s gonna be a blast!  Click here to register.

Now, back to financial aid. I know, everyone’s favorite topic, right?! Anyway, the other transfer counselors and I have all started to receive your financial aid packages; you might have already received a call from us or received your package in the mail.

My goal with today’s blog (and I have such lofty goals) is pretty simple: I want to encourage you to start filing the FAFSA now. Like right now. Why? Because this year it is expected that some of the federal aid deadlines will move up, and whether you are looking at transferring this fall or even next winter (January 2010!), it’s worth your time to take a few hours this weekend and start filling that fun little FAFSA out. Here’ a little more info on what I’m talking about, according to the Director of Transfer Admission, Steve Mueller:

“The priority deadline for the Illinois Monetary Award Program (MAP) will likely be in May. This means MAP funding will not be made available for any student completing the FAFSA after this date. We would like to ensure you will not miss out on funds that may be available to assist in covering your education expenses.”

Now I know what you’re thinking (or maybe I don’t; but it’s a blog, so work with me). “But Megan, I haven’t even applied or been accepted to North Central for the fall or winter. Shouldn’t I wait to apply or be accepted to apply for financial aid?” Let’s see, how do I put this gently?

NO! NO NO NO NO NO!

YOU DON’T NEED TO WAIT FOR ACCEPTANCE TO A COLLEGE OR UNIVERSITY TO FILE THE FAFSA. (Sorry, I guess I’m not as gentle as I thought.)

You absolutely do not need to wait. You can list several schools on your FAFSA, so you don’t need to even decide where you are heading before you complete the FAFSA. Once you are accepted at North Central, then the Office of Financial Aid will take a look at your FAFSA and begin our end of the financial aid process. That can be months after you’ve already completed the FAFSA.

Think of filing your FAFSA early like a bookmark: once you’ve done your part, we are able to pick up right where you left off.

Now again, I know what you’re thinking (or again, I might not, but I’m an admission counselor, not a member of the Psychic Friends Network.) “But Megan, my family and I have never filed for financial aid or done the FAFSA, and we might not qualify. What do I do?”

Well, as for the not qualifying part, it never hurts to apply for financial aid. You may not qualify for any federal grants or grants through North Central, however you’ll never know if you don’t complete the financial aid process. If you are offered federal loans as part of your financial aid, it is up to you whether you want them or not.

As for how to file, here’s a little info I usually share with students who ask me that question.

1. Here is the link to the FAFSA (Free Application for Federal Student Aid): http://www.fafsa.ed.gov/

By filling out the FAFSA and listing North Central’s code (001734), we will receive your financial aid info.

2. To electronically sign the form, you and the parent filing with you will need to apply for a PIN, which is found at this website: http://www.pin.ed.gov/PINWebApp/pinindex.jsp (I recommend getting them, as the PIN will decrease the processing time of your FAFSA. Think of it as an electronic way of signing the FAFSA. If you have a pin from previously filing the FAFSA, you can use that pin.)

When we receive the FAFSA, if we need additional information from you, we will let you know.
If there has been a change in your family’s financial situation over the past year, contact your counselor directly so that we can help you have the most complete and accurate financial aid package possible.

See, now that looks pretty harmless, right? If you have additional question about filing financial aid, be sure to talk to your admission counselor. Don’t know who that is? Click here to and find out or call 630-637-5800.

I think that wraps this blog up for now.

Your personal Suze Orman,
Megan Hoinkes

This entry was posted on Tuesday, April 21st, 2009 at 11:10 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS feed. You can skip to the end and leave a response.