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Posts Tagged ‘Community college’

How much money can I get from FAFSA at a community college?

Tuesday, August 4th, 2009

Dear Babs,How much does FAFSA give to community college students? Since you have experience, I was hoping you could give me some clues as to what to look out for. Please help me!

-Frank about FAFSA

Dear Frank,

FAFSA is eligible to students enrolled in any institution of higher education (including community colleges) and working towards a degree or certificate. Thus, you are eligible for FAFSA if you’re attending a community college to get your Associate’s Degree or a certificate, but not if you are just taking some courses without the intention of getting your degree. As to what types of aid, and how much you can receive, it depends on a combination of your program of study, financial need, cost of attendance at your school, and your academic achievements. The maximum Federal Pell Grant you may receive is $5,350. The Academic Competitiveness Grant requires the student to have attended a rigorous program in high school and maintain a 3.0 GPA in their program. They cap-out at $750 for your first year in school and $1300 for subsequent years.

As for loans, you can borrow up to $3,500 in subsidized, low-interest loans for your first year, $4,500 for your second, and $5,500 in subsequent years. You can borrow an additional 2,000 a year in unsubsidized loans. Again, the actual amount awarded, in both loans and grants, depends on your demonstrated financial need. This takes into account savings, personal income, family income, and other assets (like property). It also depends on the total cost of attendance at your school, and whether you meet specific academic criteria.

FAFSA considers you for all eligible awards, so there is no harm in applying. Who knows, you may just get the money you need for school!

Good luck!
-Babs

Search for College Backup

Monday, March 16th, 2009

Dear Babs,

My daughter is a senior in high school, and she has already finished her college search and intends to go to university this September. Unfortunately, she hasn’t received any college acceptance letters already received two rejections. Do you know the next steps she has to take if she does not get accepted in any?

-Worried Mommy

Dear Worried,

If, as you fear, your daughter does not get into college this fall, there are a few things that she (and you) can do. For starters, she may be eligible to start a community college program in the fall or at the very least the spring, semester. This would enable her to start fresh, focus on improving her grades, and transfer into a four-year program. Do a community college search to see if there are some good options close to where you live, where she can study full or part-time. Another option is to enrol her in “13th year” program at a local prep school. Private schools that excel in individual attention and college-prep curriculum may be able to help her boost her GPA by giving her the opportunity to focus solely on her academics in an intellectually stimulating environment. Be forewarned, these programs don’t come cheap, and they do not count for college credit. Search for college-prep programs that give you the most bang for your buck. The benefits to the “13th year” program vs. a community college is that they may have a better reputation than your local community college. If your daughter was aiming to get accepted into top schools, but she met with disappointment, an extra year at a private school might be just what she needs. If, however, she is more interested in a state school, a community college might be a great option to earn college credit and eventually transfer into a four-year program.

Another thing to think about is if your daughter could benefit from a “Gap Year” internship, volunteer trip, or even just a year working full time. There are many local and national organizations that organize internships and volunteer opportunities abroad and at home. This would boost her resume so that she stands out beyond her SAT scores, give her valuable life skills, and also let her think more about what she wants to get out of her college education. If she works locally, she can even take a few night courses to improve her GPA while she gains work experience.

Remember: support your daughter no matter what the outcome. Whether she gets in or doesn’t, know that this one decision is not the end of the world so long as she stays resourceful and optimistic. The last thing you want to do is overreact and discourage her. Make sure she understand the importance of making the most of this year-off, so that come next fall, she can enter university with full force and determination.

Good Luck!

-Babs

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