Financial Aid Extension Contract?

Paying for College
1

<p>Our local CC apparently is desperate for students this fall. Just this week, they have placed large ads in local papers soliciting fall enrollment; classes start next Wednesday.</p>

<p>In one of the ads, there is this message: “Students who did not file a FAFSA or enroll prior to Aug. 1 can submit a Financial Aid Extension Contract. No money down for qualified students.”</p>

<p>Anybody have any clue what a “financial aid extension contract” is?</p>

<p>(I’m just asking out of interest, not because anyone in my family is planning to enroll.)</p>

2

<p>Many CCs do not limit the number of students they will accept, they simply add sections or adjuncts. Some public universities can do that if the student doesn’t need housing (add right up until the last minute). Anyway, I’m guess “financial aid extension contract” is like a promise to pay…kids can decide they want to go to CC, fill out the FAFSA paperwork and the community college will hold their accounts receivable until the federal loan monies or pell monies come through.</p>

3

<p>“Our local CC apparently is desperate for students this fall. Just this week, they have placed large ads in local papers soliciting fall enrollment; classes start next Wednesday.”</p>

<p>Why are you assuming that they are desperate for students? This may be something that they do every year so that the laggards are reminded that they actually do have to file an application, and make a financial plan. If Happykid had been left to her own devices, she would have been one of those kids who register at the local CC the first week of classes! She knew that was where she was going, and it just wasn’t all that important to her to do the paperwork. Fortunately I’m on top of things, so I made her apply in April.</p>

4

<p>I’m assuming it because (1) they have never spent big money advertising before, (2) they last year opened a big extension facility that they need to fill, (3) they placed the ads at the last minute in somewhat of a panic, and (4) I have never seen them tout an easy payment plan before (though for all I know it may have been available). </p>

<p>Sent from my SAMSUNG-SGH-I897 using CC App</p>