Financial aid
How do you overcome potential students who are looking for refund checks in FA...when the school does not offer.
This is the same advises that we give student, because a lot of students think that loan money is free. We let them know that the student that this money will have to be paid back. Some student go to school just to recieved a refund check, and after they get the check they just drop. They need to know that they are paying money back with interest and paying for nothing. I ask them ,what do they have to show for this money? If they at least graduate, they will have a degre the can help them advance their future in the working world
It is important that the student is going to school for the right reasons and not because they think they can get a refund check. It doesn't do anybody any good if the student starts school for the wrong reasons.
When I encounter a student who is asking for a refund check I advise that student that it is our schools practice to only request what is needed to pay for your classes. If you are in need of additional funds to speak with an FA rep. and see what his/her opitions are in regards to refund checks. I would also let them know that refund checks is not free money you do have to repay that money back with intrest.
Students should be able to communicate with financial aid rep at anytine to clarify and understand types of loans, differences and payment of loans and assist student in order to avoid student defaulting on loans.
I do this exactly to a t. I think it is a very important thing that a student knows what kind of finacial state they are getting themselves into before they start school.
I agree with this. The student has to realize the benefit of their education.
I understand that financial aid is very important to you, though financial aid is available for those to qualify. As an admissions adviser we cannot discuss financial aid.
The Admissions REpresentative conducting the information gathering and overview of Financial Aid planning process should gather enough information to know if the student has worrisome motives. The Admissions REp must then communicate this to the financial aid partner to ensure that all information related to FA planning is thoroughly covered.
I agree with that. Students need to understand that they are attending school to better themselves not to buy a new car.
Being up front and letting the student know that very few refunds are made and If receiving a refund is their objective most likely this is NOT the best school for them.
I recommend the students realize how important it is to keep their loan amounts for this investment as low as possible. I also strongly recommend they take their time with the financial aid specialists and ask lots of questions include approximate loan payments with just the cost of tuition.
Sometimes students are looking for another hand out. Remind them that going to school is a job that pays off after grading not during.
We run into this far too often at my institution. I believe this should be uncovered in Admissions during both the initial interview and the Director's second interview prior to an application submission. It comes down to showing the value of what this education can do for them over the long haul. If the true interest is a "refund check", than this may not be the best fit for them. Financial Aid is designed to assist with covering cost of the program.
Making sure that the student sits with financial aid at anytime in order to address these concerns and clarify/understand the differences between loans and what they are meant for.
Simply put, we don't offer refund checks. Once you explain why an education is important to them and the investment they are making in themselves, the students who truly want to better themselves tend to look past it.
I talk about bad credit vs good credit. How much money you can make, and how it may not matter with a poor credit rating. AS,BS OR PHD for that matter.
Advise the student that they are attending college for an education and not a check. If the primary reason for going to school is for a check back then they more than likely will not complete the program and they still have to repay that loan.
Bonnie you could have not said it any better, what is the real purpose of coming to school, arre you here to better perpare your self for the future or are you living for right now!! Let us focous on the things you want in life and come up with a clear plan on how to arrive to your destination.
I agree. If they are serious about their education, then it should not matter if they get a refund check or not.
