How Do I Get There?

College: You Can Do It!

Being a college or university student is hard, but it’s also fun and exciting. It’s a time in life where you can concentrate fully on learning what you enjoy and on what will help you find a well paid and meaningful career.

Quite a few myths are out there, however, about getting into college and paying for it. So before you let the myths discourage you, check out the articles in this section on the real story about getting in and paying for an education.

Worried About the Cost? It Pays to Study the Financial Aid System

Take some time to figure out how financial aid works. It may seem tough or boring, but the more help you can find, the better you’ll enjoy and focus on your studies.

“Financial aid” comes in many forms—you can get loans (high- and low-interest), grants, stipends, and scholarships. Loans must be paid back, but the others are free money. When you apply for financial aid, make sure to check on “strings attached,” such as the case with the military’s claims about financial aid.

Qualified students whose families do not earn a lot of money should not shy away from applying to private colleges that appear to be too pricey. These schools often have “need-based” aid, and if they are interested in you (combination of good grades, involvement in interesting activities, minority status, where you live, etc.), they often will provide large grants-in-aid to reduce your tuition costs.

Also, remember that unemployment of a parent, single-parenthood, and major non-discretionary expenses such as medical bills makes your application move more readily into a “need-based” category. If you have such situations, it may be that you are eligible for more funding than you think.

Note: Read the Fine Print!

Military assistance for college is not free, not automatic, and not guaranteed on the enrollment contract. You have to pay $1,200 for the first year out of your salary. And if you leave college early, decide to continue later, or if you get less than an honorable discharge, the military has no obligation to pay. Read the fine print. Note: This is not the same GI Bill of World War II!

NC Resource for Financial Aid Information

Look at information on federal and state sources of aid at www.cfnc.org. Or contact a college financing specialist at 866-866-CFNC.

Free Application for Federal Student Aid (FAFSA) and Government Money

A number of government loan programs can help you. The Pell Grant, the Perkins Loan, and the Stafford
Loan are sources of low-interest loan money.

To get these loans from the government, you, or you with your parent(s) or guardian(s) must complete a FAFSA (Free Application for Federal Student Aid). The FAFSA is used to determine the amount of your Expected Family Contribution (EFC) and your eligibility for federal and state financial aid (e.g., your age and if you registered for the Selective Service).

Ways to File Your FREE FAFSA Application

The FAFSA form is long and confusing so don’t hesitate to ask for help from your guidance counselor or the financial aid office of any college you are applying to, or visit www.ed.gov/thinkcollege.

You can get a paper FAFSA application from any school. You can also fill it out on-line (free at fafsa.ed.gov). The on-line FAFSA requires moving between about 50 screens, and getting an electronic PIN number for both yourself and at least one parent or guardian. This takes time so plan ahead.

Other Sources of Aid

• Your school counselor or public library has good information on local sources of financial aid. For example, churches, civic groups, parents’ employers, Veteran’s Administration, and vocational rehabilitation services all offer financial aid.
• For a listing of loan sources provided by churches, colleges and universities, see www.feat.centeronconscience.org, the Fund for Education and Training (FEAT) or contact Center on Conscience and War by phone: 202-483-1242
• Check out College Financial Aid for Dummies, by Herm Davis and Joyce Lain Kennedy (IDG Books Worldwide, 1999).

Special Sources of Aid for Non-Registrants

If you did not register with Selective Service when you turned 18, or are considering not registering, federal law does not allow you to enroll in federally funded job training programs, or to receive federal financial aid for college.

To help those who for reasons of conscience do not comply with Selective Service laws, the Center on Conscience and War (CCW) also provides loans from the Fund for Education and Training (FEAT) (www.nisbco.org/FEAT.htm). Priority is given to those with no other source of aid. Contact the Center on Conscience and War by phone: 202-483-1242. Earlham College also assists non-registrants (www.earlham.edu. Phone: 1-800-EARLHAM).

The Education Resources Institute

The Education Resources Institute (TERI at www.teri.org) sponsors a TERI Supplemental Loan Program that is open to non-registrants, but has a broader goal of helping families plan and pay for college. Through its free college information services, it helps students and families with career decisions, selecting colleges, navigating the financial aid process, and finding resources. (A co-borrower is required.)

TERI also realizes that many people need help filling the financial aid gap. To help meet this need, TERI offers loans based on good credit, with no income limitations, for elementary and secondary, undergraduate, graduate, and continuing education studies. Founded in 1985 as a nonprofit organization, TERI has assisted over one million students at over 6,800 colleges and universities worldwide.

Loan Requirements:

• Either the student or the co-borrower must be a permanent US resident and must have lived in the United States for at least two years.
• No educational achievement is required.
• The co-borrower must have had a positive income for at least two years.
• Loans cover a maximum period of one calendar year.
• Applications have no deadlines, but once an application is provided, the applicant has 90 days to complete the process.

Contact Information:

The Education Resources Institute, 330 Stuart Street, Suite 500, Boston, MA 02116. Phone: 1-800-255-TERI (8374) and a representative will respond to your message within 24 hours. Email: custserv@teri.org Website: www.teri.org/

For questions about your loan application or TERI loan programs, representatives can serve you M-Th 8 AM to 8 PM EST and Fri 8 AM to 5:30 PM EST. An automated telephone system is available 24/7 for loan status updates. Call 1-800-255-TERI (8374) press 2, then press 1 and follow the prompts.

Jobs Money and Education

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