Breaking the bad news about Financial Aid to the Student
I know sometimes when a student comes in, they may be expecting financial aid to cover the full cost of their tuition, but this does not always happen. What are some good tactics and responses to ease the student into making monthly payments each month to their education? Has anyone had a goo/bad experience with this situation?
I like calling it an investment, that means something good is going to come out of it. It is a positive way to say it. Good point.
Thank you for all your suggestions, this helps alot! Also, would it be okay to suggest potential students to look for scholarships available online? I have noticed that there are some weird ones out there like Write a story on Peanut Butter and win a scholarship.
Also, what about introducing the student to career services and help them look for survival jobs when they are in school? It is important to build that relationship with them right away.
I think it is important for the student to understand that college is an investment. It is also good to suggest different options such as state assistance for tuition reimbursement. This may help with out of pocket costs. It is also important to find out about the student to better understand their situation and the possible avenues that could help them.
It is good that a student knows all of their options as far as finances go regarding their education. I had an experience where a student was going to use FA. I asked the student if their company provided tuition assistance. They found out the school covered 50% of their tuition. Before VRAP expired I had several unemployed vets that were not aware that VRAP was offered.
There are several methods to helping a student who needs to make tuition payments and pay bills while attending school.
1. Find out if they are a veteran, part of the reserves or active duty. There are various programs, like the GI Bill, Post 9/11...etc. that they may qualify for. In addition to programs there are also agencies designed to help military personnel be successful, like the V.A., and may offer additonal help with personal/tuiton needs. Make sure to put them in touch with the proper personnel who handle military education benefits.
2. If the student is part of the military or is a veteran then have them check out their options with private lenders for military/veteran discounts. One agency that could be of help is USAA, they offer a range of financial products from all types of loans to insurances.
3. Research if there are government job agencies that help pay for a students education. In some areas there are job center type of places that will financially help a civilian/veteran with schooling that meet certain requirements. The amount of aid varies on a case by case basis (usually criminal background and income play a role in qualifying)and limits of education vary from agency to agency.
4. See if the student has a special circumstance that might make them eligible for more financial aid.
5. Check if the student is part of a credit union or has banked with a particular institution over a long period of time. Some of those places offer special discounts to people who have done business with them over a prolonged period of time.
6. If the student has a criminal background then there may be agencies that can help them get jobs and might help with tuition, The Urban League is a popular organization in my area that helps people "clean-up" and get on their feet.
Overall, make sure you are aware of what is available in your community and other communities that prospective students are traveling from. Encourage the institution to build strong relationships with these agencies in order to help students get where they need to be, whether it is help with tuition, a place to live or food on their table.
Also, please note your institutions policies and procedures. I would ask a supervisior prior to suggesting any agencies of any sort, just to make sure you are in compliance.
I know at my previous institution, we encouraged students to make sure they had another source of income besides their FA. We made sure they knew that they would have costs associated with their education, as well as living expenses, that would not be covered by their FA and we helped them to have a plan in place to help cover those costs. Most students were aware of additional costs and were prepared to cover them by working part-time, by accessing their savings, or other means of income.
