Contact FinAid Offices if your financial situation has changed

Paying for College
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<p>As this BusinessWeek article suggests, “Some Schools Will Work With A Parent To Find Emergency Loans And Other Ways To Adjust As Credit Options And Portfolios Shrink.”</p>

<p>Parents and students are sometimes too embarrassed to discuss personal financial situations with college aid officers, especially if they’ve made some unwise choices. But most finaid staff members have seen it all… and then some! Not every college will work with you or solve your problems, but it can’t hurt to ask, and sometimes emergency funds are available if you’re in a bind. See [College</a> Costs: Coping With The Meltdown - Money News Story - KERO Bakersfield](<a href=“http://www.turnto23.com/money/17641115/detail.html]College”>http://www.turnto23.com/money/17641115/detail.html)</p>

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<p>Thank you Sally for posting this reminder. In these tough economic times, it is important to know that you should discuss options with your students’ schools in the event of a job loss or other loss of asset use.</p>

<p>I will reiterate my plea with all…please…fill out the financial aid forms regardless of whether you think you need or will qualify aid. If a catastrophic financial issue impacts your family, these forms may be required so that the school can compare your past financial situation to the current one. The last thing you will want to do if your financial situation becomes dire is to complete these forms. I would suggest doing it now. AND the FAFSA completion will make your child eligible for the Stafford loan.</p>

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<p>Also, if financial catastrophe strikes, a student who has been admitted as a “no need” applicant may not be permitted to seek aid for a waiting period which is typically two years. Being admitted as “no need” is NOT the same as submitting a FAFSA, going through the aid-application process, and being turned down.</p>

<p>Sometimes families are completely blindsided by an abrupt changes of circumstances … perhaps not often, but certainly most financial aid officers can tell stories of having to deal with such unpleasant surprises.</p>