Affording college is a concern for many students and parents. More than one-half of Gordon State College students borrow money to pay tuition and other expenses, University System of Georgia data shows. Student loan debt accounts for nearly $1.5 trillion in federal and private loans, according to data from the Department of Education. Completing the Free Application for Federal Student Aid, also known as the FAFSA, can create concerns and a need for professional help.
Gordon State College’s Financial Aid counselors are offering free assistance and answering questions in a dedicated night for this cause, FAFSA Night, scheduled for Tuesday, March 10 with sessions set for 4 p.m. and 6 p.m. in Gordon’s new award-winning Student Services Center, 419 College Drive in Barnesville. Reservations are suggested and dinner will be served.
Director of Financial Aid for Gordon, Jody DeFore, is no stranger to the concept of federal lending applications. Her office attempts to educate incoming freshman about financial aid and overall personal finance, thereby helping students learn to be responsible in taking out and paying back student loans.
The University System of Georgia’s “Know More. Borrow Less.” initiative aims to reduce barriers to financial aid and encourages students to graduate with less debt. The initiative strives to inform students of the aid process as well as educate them in the principle of borrowing less. The USG also has simplified and standardized debt notifications to students which help them better understand and track the amount of college loan debt they have and their repayment information. Students receive a letter that identifies the amount of the loans they received, estimated monthly payments and additional information about their loans.
“It is very important to my staff and me to make sure the students fully understand their loans,” DeFore said. “Students are also required to complete an on-line loan counseling program before the loans are given to them. Counselors are always available for one-on-one help, if requested by the student. We can help students make informed decisions about their loans.”
DeFore and two other counselors in the Financial Aid office at Gordon are parents of high-school seniors. They personally recognize the FASFA form can be both intimidating and overwhelming.
“Let’s be honest, the FASFA can be a challenge for everyone,” DeFore said. “Many of our students today are coming from very unique backgrounds along with many first-generation students. For this group of students, the FASFA can be very challenging. The FASFA will change each year especially with tax changes like we saw in 2019, which cause parents to question what needs to be submitted!”
Students who are eligible for the HOPE Scholarship are required to complete either a FASFA or a Georgia Student Finance Application, also known as the GSF App.
Sometimes parents and students anticipate they might be ineligible for financial aid based on their income; however, most students are at least eligible for unsubsidized loans. When the FASFA is completed, the information that is collected generates what is called an Estimated Family Contribution (EFC), which is what determines the amount of federal aid the student is eligible to receive. Federal funding consists of student loans, which must be repaid, as well as the PELL Grant, which does not require repayment. The Pell Grant is limited to students demonstrating financial need who have not earned their first bachelor’s degree.
Students are not required to make payments on their loans until they graduate or stop attending for at least six months or fall below half-time status.
Gordon State College is eager to help upcoming Highlanders navigate the world of financial aid. Students thinking of attending next year are encouraged to come and bring their parents/guardians to FAFSA night and learn about applying for and receiving financial aid.
To register for this FREE event: https://www.eventbrite.com/e/fasfa-nights-at-gordon-state-college-tickets-96505666045
No comments:
Post a Comment