Federal Loans
Make sure that you don't quote a student how much his loan will be and how much they will make after they graduate.
Many students ask how much money they will make after graduation. It is important that they understand that we cannot determine pay.
Anything that deals with Federal aide should be left for the FA specialist to discuss. It's way to hard to narrow anything down on how much money one can make since the potential employer could be looking at numerous skills and background.
Quoting is an unnecessary danger zone. It is much better to provide the information they need - FAFSA.gov - versus trying to provide specific information you have no way of knowing. The program being based on income & dependents has changed the entire financial aid world. Students and prospective students should be encouraged to apply, for free. Plus, they should be given the tools to know the difference in the programs available.
As admissions representatives we are to provide basic information regarding different types of aid that is available for those who qualify. The financial aid coordnators are the ones who will provide students with the specific types of aid they may qualify for and the specific amounts.
My statement is "Federal Aid Is Available To Those Who Qualify." I always state that this is a question that should be address with the Financial Aid Advisor. I also suggest that students write down their financial aid questions before meeting with the advisor. The advisor will answer the questions at their meeting.
What's important to remember is if your school's Financial Aid department uses the same integrity as you do, these prospective and current students will be in good hands. My school for example has a position that is responsible for this counseling students about their loans before, during, and after they are a student. However, I understand your point, you just want to provide your students with as much information as possible.
I agree, the students need to see exactly what they are going to pay back and determine if this is something they will be able to realistically do. We can only do so much but ultimately it is them who needs to be able to pay.
I think it is crazy that we do not prepare our young people or their parents for the financial responsibility they are about to take on. When speaking with prospective students about FA I let them know that *I* obviously cannot tell them what their FA package will look like but that I do want to go over the basics with them so they don't end up in the same situation that I did when I graduated. I inform them that "typically" packages are comprised of scholorships and grants, loans which they pay back, tuition reimburstment usually from an employer and the different ways I've seen them go about it (paying along the length of the program or after your grades are submitted), cash payments, a pay as you go system but all of that depends on their personal situation. I let them know that FA will tell them about all of their options and answer all of their questions when they sit with them but that I like to give them an idea of things to ask about.
We are obviously not allowed to talk about Financial Aid and their eligibility, but what i always tell students is that they need to take out as little as possible because they have to pay it back (and a lot of times with interest). So i talk to them about what they feel like they can sacrafice during the program. for example; eating out, netflix, cable, getting their hair done, etc... Then i talk about personal sacrafices of my own so they can relate and see that it can be done.
