Wednesday, January 16, 2013

Avoid these 8 financial aid mistakes


Check out the article below from CBS' Lynn O'Shaughnessy that gives tips to avoid financial aid mistakes. 
This is the time of year when millions of parents and students are grappling with financial aid forms. It's also the time of year when many families make financial aid mistakes
Here are eight mistakes to avoid when completing the Free Application for Federal Student Aid (FAFSA), which families must fill out to be eligible to get financial assistance at thousands of schools, and the CSS/Financial Aid PROFILE, which approximately 20 percent of private institutions use.
1. Procrastinating. There is no federal deadline to submit the FAFSA, but state financial aid programs and colleges do impose aid deadlines. Check with schools on your child's list to see what their deadlines are, as well as your state aid program. You can find a link to every state's financial aid programs at the website of the National Association of Student Financial Aid Administrators.
A growing number of states offer aid on a first-come, first-served basis. It's OK if you have to submit your aid application with estimated tax information. You can use the IRS data retrieval tool to update the FAFSA after you've completed your taxes.

2. Failing to check for errors. When a parent or student makes mistakes on a financial aid form, it's highly likely that the household won't generate the right "expected family contribution." The information that a family shares on the FAFSA and the PROFILE calculates their EFC, which is a dollar figure that represents the minimum amount that a family can expect to pay for one year of school.
This might seem like a no-brainer, but parents don't always bother to correct FAFSA mistakes even when it can hurt them financially. Last year, more than 750,000 students notified about FAFSA errors by the U.S. Department of Education failed to revise their aid applications, which potentially cost them money. 
3. Including retirement assets. Don't include retirement assets on your FAFSA. I wish the aid application was clearer on this point. The FAFSA only wants you to divulge your non-retirement assets. If you include your IRA or 401(k) assets on the FAFSA, it could squash your chances for need-based aid.
4. Providing the wrong tax figures. Parents should list the federal income tax that they paid or will pay based on their 2012 federal tax return -- not the tax withholdings on their W-2 forms. The advice is the same for the students themselves.
5. Avoid blank answers. If the answer to a question is zero or not applicable, write "0" or "Not Applicable" on the online form. Leaving blank answers can cause miscalculations.
6. Don't inflate your education. Some institutions will award applicants brownie points if they are first-generation college students. If parents didn't graduate from college, select "high school" as the highest education attainment.
7. Failing to seek help. If you are overwhelmed by the process, seek help. You'll learn where you can turn for assistance by clicking on my recent post on FAFSA resources.
8. Failing to appeal a financial aid award. Schools don't broadcast this fact, but it is possible to successfully appeal disappointing financial aid awards. If the aid package your child receives is underwhelming, you can ask a college to reconsider the award. Just don't approach the school and announce that you want to "negotiate." Be diplomatic.
© 2013 CBS Interactive Inc.. All Rights Reserved.

Scholarship Winners to Date Announced!


Upward Bound at Avila University is pleased to announce our scholarship winners so far! Upward Bound provides a scholarship writing course during the summer before the student’s Senior year and continues to offer a writing lab two Saturdays a month for seniors to work on scholarships. While scholarship committees are still reviewing applications, we have had two students already be awarded some big scholarships!


Natacha Guthrie 
Truman High School 
Independence, Missouri

Natacha was awarded the Horatio Alger Scholarship ($5,000).  The Horatio Alger Missouri Scholarship Program provides financial assistance to students in the State of Missouri who have exhibited integrity and perseverance in overcoming personal adversity and who aspire to pursue higher education.

The Horatio Alger Association of Distinguished Americans is dedicated to the simple but powerful belief that hard work, honesty and determination can conquer all obstacles. Today, through its Members, the Association continues to educate our nation's young people about the economic and personal opportunities afforded them by the promise of the American free enterprise system. Through its scholarship programs, the Association encourages students to pursue their own version of the American Dream. While providing scholarship opportunities, Association Members mentor the Scholars and underscore the importance of service to others. The Members work directly to provide promising young people with the support, education and confidence needed to realize their aspirations.


Ian Sisson
Ruskin High School
Kansas City, Missouri

Ian has been awarded several scholarships which are listed below.

  • Sporting Kansas City Scholarship 2011 ($2,000)
  • Sporting Kansas City Scholarship 2012 ($2,000)
  • MU Diversity Award ($2,500) 
  • SCLC Martin Luther King Award (amount unknown)


Monday, January 14, 2013

Week 15 Announcements



Upward Bound—Avila University
Weekly Announcements 
Week 15
Week of January 14, 2013
Important Upcoming Upward Bound Information and Events

Important Dates
  • Dell Scholars Program application due January 15, 2013
  • Gates Millennium Scholars Program application due January 16, 2013 
  • Saturday Session January 19, 2013 9:00 AM - 12:00 PM
  • Kansas City Zoo Activity January 19, 2013 1:00 PM - 4:00 PM
  • William Jewell College Campus Visit January 21, 2013 8:00 AM - 12:30 PM
  • Saturday Session February 2, 2013 9:00 AM - 12:00 PM
Rigorous Curriculum
Upward Bound encourages it’s participants to complete a rigorous program of study to help better prepare them for college. Below you will find what a student needs to take during their high school career to meet this standard. It is important to note that not every high school requires a rigorous curriculum for a student to graduate. Several Upward Bound students have come forward believing that their graduation requirements would meet college admission requirements. This is not true in all cases. Students need to understand that a rigorous program of study will not only prepare your student for college but in the majority of cases it will also meet college admission requirements.

As an Upward Bound participant — as a student who desires to attend college and succeed — completing a rigorous curriculum is vital.

Students who graduate high school and completes the rigorous curriculum listed below will be awarded “In Signum Rigorous” (The Medal of Rigor) to demonstrate their determination in college preparation.


Tutoring
Participants at Ruskin HS will have tutoring in room 218 from 2:50 PM-4:20 PM. Participants at Grandview HS will have tutoring in room 113 from 2:35 PM-4:05 PM. 
  • Participants are required to have at least 6 hours of tutoring per month. You can come and go as you please during tutoring to get tutoring hours.
  • Tutors in math, science, English, and Spanish are available to help assist you in your efforts to improve.
  • If you need additional help, contact the Upward Bound office with at least 24 hours notice to schedule individual tutoring on Avila's campus.
Stipends
Stipends will be distributed as checks starting in the 2012-2013 school year and will be given out at the second Saturday Session of the month.

**Stipends for the month of December will be distributed during the January 19th Saturday Session.**

Recruiting
If you know any students that are interested in applying for the Upward Bound - Avila University program, they are welcome to apply. Applications can be found here and at the counselors office at Ruskin High School and Grandview High School.

Office Phone: 816.501.2438
Office Fax: 816.501.2461
EmailUpward.Bound@avila.edu
Websitewww.avila.edu/ub
Twitter@UpwardBoundAU
FacebookFacebook.com/AvilaUpwardBound
Blogavilaupwardbound.blogspot.com