Home | Newsroom | Iowa College Aid Insider | December 2011 Edition

Iowa College Aid Holiday Hours

Iowa College Aid will be closed for New Years Day on January 2, 2012, and Martin Luther King Jr.’s birthday on Monday, January 16, 2012.

Iowa College Aid Connections

Iowa College Aid Commissioner Kelli Todd has a new blog post on Iowa College Aid Connections. Read Kelli's views on Iowa’s values, and how these values are important to Iowa's future in Harvesting Education in Iowa.




Free Application for Federal Student Aid and Iowa Financial Aid Application Available January 1, 2012

On January 1, 2012, students will be able to complete the 2012-13 Free Application for Federal Student Aid (FAFSA) and the 2012-13 Iowa Financial Aid Application. The FAFSA is a standardized federal form used to determine eligibility for federal, state, and in some cases, institutional financial aid. On the state level, the FAFSA serves as the primary application for over $53 million in need-based state scholarships and grants. Students can apply for the following state programs by completing the FAFSA:

• Iowa Tuition Grant (FAFSA filing deadline is July 1)
• Iowa Vocational Technical Tuition Grant (FAFSA filing deadline is July 1)
• Iowa Grant
• Barber and Cosmetology Arts and Sciences Tuition Grant (FAFSA filing deadline is July 1)
• All Iowa Opportunity Scholarship* (FAFSA and Iowa Financial Aid Application deadline is March 1)
• All Iowa Opportunity Foster Care Grant * (Renewal applications are considered for funding first; their FAFSA and Iowa Financial Aid Application deadline is March 1. New applications will be considered in date order received.)
• Education Training Voucher (ETV)* (Renewal applications are considered for funding first; their FAFSA and Iowa Financial Aid Application deadline is March 1. New applications will be considered in date order received.)
• Governor Terry E. Branstad Iowa State Fair Scholarship* (FAFSA and Iowa Financial Aid Application deadline is March 1)
  
  

* Requires the submission of the Iowa Financial Aid Application

Upon completion of the FAFSA, all Iowa resident applicants have the option to link to the Iowa Financial Aid Application directly from their FAFSA confirmation page, and can pre-populate most of their demographic data to the Iowa application in the process. This not only streamlines the federal and state financial aid application process for Iowa applicants but also solidifies access to the Iowa application for individuals who may not be aware of its availability.

A comprehensive overview of the state scholarship, grant, and loan repayment programs is available on the Iowa College Aid website at www.iowacollegeaid.gov, in the Scholarships & Grants or Loan Forgiveness sections. You will find detailed eligibility information, application timeframes, video resources, and state-funded financial aid program flyers. You can also access our free publications at http://orderform.iowacollegeaid.gov/. Publications can either be ordered (only certain publications are available for order) or printed.

In addition to print materials, Iowa College Aid offers free email alerts for parents and students with tips on planning, preparing, and paying for college. Timely information on scholarships, grants, and college and career planning is sent to all individuals who sign up. Please encourage your students and their parents to sign up at http://news.iowacollegeaid.gov/?p=subscribe by completing the form and choosing “College and Financial Planning Tips for Students and Families” from the list, and clicking “Subscribe”.

Iowa College Aid’s First Ever Virtual Financial Aid Night

Iowa College Aid hosted its first-ever virtual financial aid night on December 15th through CollegeWeekLive. Students and families were able to log in at anytime during a four-hour window to visit various exhibit booths on student loans, scholarships and grants, and the Free Application for Federal Student Aid, as well as ask questions regarding college access and financial aid via chat with financial aid experts. Attendees were also able to attend live presentations on subjects such as Financial Aid 101 – Filing the FAFSA and Beyond; Now What? What to Expect After Filing the FAFSA; State of Iowa Scholarship & Grant Programs; Student Loans and Sensible Borrowing.

Students and families can access the Virtual Financial Aid Night recorded presentations, including recorded versions of the live presentations in multiple languages, in the Tools for Students section of our website, www.IowaCollegeAid.gov.

10 New Year’s Resolutions for a College Student

Iowa College Aid is committed to helping Iowa’s students achieve education beyond high school. To do that, students need to make smart financial choices along the way. With the New Year less than a week away, here’s a list of financial resolutions especially for college students:

1. Make a budget. Commit to creating a monthly budget AND live within your budget each month.
2. Utilize a calendar. A calendar is not just for plotting your class schedule, campus organizational meetings, and social events. A calendar can be an effective tool for managing the due dates for your monthly bills—rent, cell phone bill, car payment, utility bill, etc. Making note of due dates helps to ensure that you will not miss a payment and potentially harm your credit history.
3. Shop around for text books. Many bookstores, as well as online retailers, offer used textbooks for much cheaper than buying a “new” textbook. If you won’t want to keep your textbook for future reference after a class has concluded, consider renting a textbook for the semester.
4. File the FAFSA on-time, every year. Will you be attending college during the 2012-13 academic year? If so, be sure to file your Free Application for Federal Student Aid (FAFSA) prior to your college’s priority deadline. Doing so will ensure you are considered for all financial aid opportunities the school has to offer.
5. Get a part-time job. A part-time job can allow you to meet your basic needs, as well as reducing the amount of student loans you need to borrow. Working 15 hours per week at a part-time job can dramatically reduce your need for student loans to cover living expenses. Additionally, most colleges have numerous on-campus employment opportunities for students.
6. Plan early for a summer internship. During the first week of the spring semester, visit your college’s career placement office and discuss your desire for an internship during the upcoming summer with a career advisor. Career advisors can provide information about companies looking for interns, as well as information regarding career fairs on campus. Many internships  pay a stipend or salary which can help pay for expenses while you’re in college and can lead to a job after graduation.
7. Know your financial aid options. Visit the Financial Aid office on your campus during the first three weeks of the spring semester to discuss your current year’s financial aid and to check into scholarships and grants available for next year.
8. Be a savvy shopper. At the grocery store, opt for the store-brand product. It is often significantly cheaper than its name-brand counterpart, and the money you save can be used to pay interest on your student loans or keep you from having to borrow more loans next year. 
9. Protect your Personal Information. If you aren’t already, start safeguarding your Social Security Number, credit card and bank account numbers, along with any other non-public personal information. Shredding sensitive information will ensure it doesn’t fall into the wrong hands and can help protect you from identity theft.
10. Separate Needs from Wants. Although it may seem like you need that morning latte from the local coffee house to start your day; at $3.50 per day, that adds up to $1,277.50 per year! Make your financial choices based on what is necessary to meet your basic needs, and avoid wasting money and borrowing more to satisfy your wants.         

By resolving to do even a few of these things, you can set yourself up for a great new year and set yourself up for a financially fit future.

I Have A Plan Iowa™ and Financial Aid Tips

Paying for college doesn't have to be financially overwhelming but the process can seem daunting for those who do not know where to go for assistance. There are many FREE state and federal resources that can help college-bound students and their families through the financial aid process. Below are sites and tips you can share with the students and families you serve:

• Fill out the Free Application for Federal Student Aid (FAFSA) on January 1st or as soon after as possible. When filling out the FAFSA, make sure to communicate with parents/guardians, as their financial information is included on the application. Attending a financial aid night or a College Goal Sunday event can answer many of your questions and help you feel confident about filing the FAFSA. If you have questions about any part of the FAFSA, ask someone who is experienced, such as Iowa College Aid, for help. If you have special circumstances that are not reflected in the FAFSA, be sure to let your college of choice know.
• After filing the FAFSA, you will receive financial aid award letters from the colleges listed on the FAFSA. Make sure to review these carefully and compare the award packages. Take note of how many terms a scholarship or grant will be awarded. Some awards are only available for the first year of study, but others may be offered for up to four years of undergraduate enrollment. If the offer from your top school does not compare well to an alternate school, talk to the financial aid office to see if they have any other sources of aid they can award you to remain competitive. Remember, scholarships and grants are FREE MONEY!
• Ask the financial aid office questions and make sure to understand EVERYTHING. Do not be afraid of making repeated visits or calls. Their job is to assist you in financing your education and ensuring you understand all the terms of your financial aid. You can also contact agencies, such as Iowa College Aid, for any questions or concerns you may have.
• Apply for as many scholarships as possible and start early. Many private scholarships go unawarded because they have zero applicants. If you meet the basic eligibility criteria, APPLY APPLY APPLY! Search for private scholarships on www.IHaveAPlanIowa.gov
• When making decisions on programs and majors, always look at the job outlook for your career field to make the most informed student loan borrowing decisions. If you will have to borrow a large amount of money to complete your degree at a particular institution, it’s important to ensure that your starting salary will allow you to comfortably repay your student loan obligations. Find information about salary and outlook on www.IHaveAPlanIowa.gov
• If you are offered work-study, take it! These jobs not only provide you with income while you’re in college, but can also offer valuable work experience and build your résumé. These positions are limited to 20 hours per week during the academic year and typically offer more flexible hours than off-campus work.
• Check out these helpful websites for additional information and assistance: 

                www.IowaCollegeAid.gov
                www.IHaveAPlanIowa.gov
                http://StudentAid.ed.gov

GEAR UP Iowa Parent’s Night in Davenport

The partnership between GEAR UP Iowa and the parents remains an important focus as GEAR UP Iowa students prepare for postsecondary education success. On December 7th, GEAR UP Iowa organized a parent night at North High School in Davenport, Iowa. The turnout was the largest yet for a parents’ night with a 140 people attending.

Dr. Betsy Fair, Associate Principal for Davenport North High, was very complimenting of GEAR UP Iowa. She noted the positive impact GEAR UP Iowa continues to have on students’ futures by providing a wide range of opportunities such as college visits, tutoring, credit recovery, mentoring, Quantum Learning Summer Camp, and financial literacy education for the students and their families. Two students shared testimony of their experiences at the Quantum Learning Camp last summer at Drake University; they are looking forward to next year’s GEAR UP summer program. Quantum Learning is a research-based educational methodology with programs that empower teachers, students, administrators and parents in order to create a district culture of student engagement, positive behavior, teaching excellence and students with strong character who take responsibility for their learning.

In addition, the parent’s night gave GEAR UP Iowa a great opportunity to discuss with students and their parents the scholarship piece of the GEAR UP grant, through which students who graduate on time and enroll in a postsecondary education program will be eligible to receive a scholarship from GEAR UP Iowa for up to four years.