411 on Financial Aid - The Director's Blog

Denver Spring College Fair

Yesterday was a beautiful, sunny day for the RMACAC Spring College Fair held at the University of Denver.  Thank you to everyone that showed up to my session on Financial Aid and the College Decision Process.   It was great to see so many families looking to learn about paying for college.  

You may view a copy of the presentation here: Denver Spring Fair - Fin Aid 101

Feel free to share comments or questions and I'll respond as needed.

- Chris George

 

Managing Unmet Costs

In the past two weeks, Financial Aid has sent out 5,000 award letters to new undergraduate and graduate students. To expedite the process, emails are sent to students with links to access the financial aid award and additional information online. As a follow-up to the email, our new undergraduate students are also mailed a packet that should arrive within a week of the email being sent. Over the next 6 weeks, our primary focus is on the newly admitted students.

For the students that have received an award letter, we want to make sure that you understand your financial aid award and the resources available to manage the unmet costs. Between our website, this blog, our Undergraduate Financial Aid 101 email series, and information in your financial aid award letter/packet we hope that you find the answers to the questions you’re looking for. If not, feel free to post your questions below and we will try to answer as many as possible in upcoming blog posts. If you have a questions that need the personal attention of our staff, please feel free to contact Financial Aid directly at finaid@du.edu or 303-871-4020

For the students that are still waiting to receive an award, we are processing and finalizing awards on a weekly basis.  It takes about 2 weeks from the time you submit an application or additional information for us to complete the processing. Once we complete the processing of all requirements, we will finalize the award letter and send the email to the student.

Over the next couple of weeks, we’ll touch on topics like private scholarships, DU Payment Plans, PLUS and private loans, and student employment. So post your questions about managing unmet costs and congratulations to those admitted to the University of Denver.

FAFSA Completion Tips

Remember that the FAFSA determines your eligibility for federal financial aid. The priority deadline for new students to submit the FAFSA is February 15th.  Continuing students have a March 15th deadline.  As you prepare to complete the FAFSA, here are some things to remember.

There are just two steps needed to complete the FAFSA:

1. Apply for a US Department of Education PIN.  Both students and parents of undergraduate students should have their own PIN.
2. Go to the FAFSA website and click "Start a New FAFSA."  DU's school code is 001371.

We strongly encourage you to use the IRS data retrieval tool when completing your FAFSA. This tool will be available at the end of February, and will quickly transfer your 2012 tax return data directly into your application, which may prevent you from having to submit further documentation from the IRS in the future.

Haven't filed your taxes yet? You may use estimates when completing your FAFSA before you file your 2012 tax return, but you should revisit www.FAFSA.gov to correct your FAFSA--using the data retrieval tool--once your tax return has been accepted by the IRS.

While we have not yet begun to import FAFSA applications for the 2013-14 academic year, you can verify that your application will be sent to DU by logging back into www.FAFSA.gov and clicking on "View Processed Information."

Questions? Learn more about the application process, or contact us at 303-871-4020 or at finaid@du.edu.

- Chris

Applying for 2013-14 Financial Aid

With the start of the New Year upon us, it's once again time to think about the financial aid applications. For high school seniors, this month marks the admission application deadline for most schools. As you finish completing all of the application requirements, it’s time to start focusing on your 2013-14 financial aid applications here at the University of Denver. The University of Denver requires both the FAFSA and the CSS PROFILE. The deadline for submitting these applications is February 15^th. I realize that many families will not have their taxes completed by this time, so remember that you can estimate your 2012 tax information on both applications. This will ensure that your information is received by the priority deadline.

Note that new families will need to submit their 2012 tax information and verification documents to The College Board’s IDOC service by March 1^st. The College Board’s IDOC service will contact you directly about where and how to submit your information. Having this information in by March 1^st will allow us to send out financial aid award letters by mid-to-late March. If you miss the March 1^st deadline, please do your best to get the information to the IDOC service as soon as possible. When that information is submitted, we will be able to process your financial aid application information and send you a financial aid award letter. We estimate that it will take approximately 3-4 weeks of processing time to send out a financial aid award letter once you mail your information to the IDOC service.

The main reason to meet the priority deadline is to be considered for work awards and Perkins Loan funds. These funding sources are limited, thus priority is given to students that meet our priority deadline. Even if you meet the priority deadline and meet the need-based qualifications, you may not receive these awards because of the limited dollars we have (and unfortunately, we are unable to extend our priority deadlines because of delays in completing your 2012 taxes). But for those that do not receive a work award or Perkins Loan award, we will maintain a waitlist for students who deposit with the University of Denver. In October, we review the availability of these funds and may be able to award additional work awards and Perkins Loans at that time.

For our continuing students, the New Year marks the time to reapply for financial aid. At DU, we require families to reapply for financial aid every year. Both the FAFSA and the CSS PROFILE financial aid applications are currently available for continuing students to complete. The priority deadline for continuing students to apply is March 15^th. Even though the deadline is March 15^th, continuing students will not receive their final financial aid award letter until late May. This time allows us to ensure all available financial aid, including departmental scholarships, are included in the financial aid award letter.  

- Chris

Financial Aid Resources

Last week I had the opportunity to speak at Santa Fe Prep about Financial Aid & the College Decision Process. (View the Santa Fe Prep Presentation)   After the presentation, I had the chance to discuss the information shared with the Santa Fe Prep college counselors.  One of the primary takeaways from the night, and one of my points of emphasis, was the amount of resources available to students and families looking to navigate the process. 

First, my recommendation is to start thinking about paying for college as soon as possible.  Financial fit is as important as the social and academic fit at the colleges you would like to attend.  To help you gain a better understanding of financial fit, net price calculators are great resources for incoming undergraduate students.    Net price calculators can provide a good estimate of your financial aid eligibility at a particular school.  However, once you have decided to apply to college or university, you also need to think about the financial aid application process. Great resources are available to guide and assist you through the process.

Here is a quick list of resources that students and families can take advantage of:

• Visit a Financial Aid Office Website
  • Some will offer webinars, chats, videos, and links
• Attend Financial Aid Application Completion Events
  • College Goal Sunday is a national program focused on completing the FAFSA
  • Some colleges, high schools and foundations will offer events as well
• Department of Education   
• College in Colorado 
• @FAFSA follow FAFSA on Twitter or join in hosted Twitter conversation.

When in doubt, contact the Office of Financial Aid for additional information.  At DU, we have a group of dedicated financial aid advisors to provide assistance and guidance through the financial aid process.  If needed we are happy to schedule individual appointments with students and/or families.  These appointments can be done in person or over the phone.  Our goal is to not only assist students in making the transition to DU, but to also see those same students receive a University of Denver degree.

- Chris

 

 

Tips on Winning a Scholarship

A couple of weeks ago, at the 2012 NACAC Annual Conference, I attended a session by Mark Kantrowitz, the publisher of Finaid.org and Fastweb.com.  His presentation focused on Winning a Scholarship and covered many items from this quick reference guide.  For me, I found the following information helpful for students looking to win a scholarship.

1. Search and apply to scholarships as soon as possible
2. Answer all optional questions on scholarship search sites
3. Apply to every scholarship for which you are eligible
   • Scholarships for less than $1,000 often have fewer applicants
4. Persistence pays, skill and luck are involved
5. Meet deadlines
6. Tailor your application to sponsor’s goals
7. Clean up your online profile
   • Perform a Google search on your name
   • Review public profile on Facebook, LinkedIn, Twitter, & YouTube
8. Print, read and speak your essay to correct spelling and grammar mistakes
9. Use multiple FREE scholarship search sites
   • Fastweb
   • Bigfuture
   • Scholarships.com
   • My College Dollars (Facebook App)
10. If you have to pay to get money, it’s probably a scam

Scholarship Search on the DU Financial Aid website

This past week, the Office of Financial Aid launched a redesigned website that should be easier and quicker to navigate.  Our home page, www.du.edu/financialaid, now offers a quick calendar of upcoming events, news and announcements about financial aid and links to common forms, your financial aid account on webCentral, resources and a brand new scholarship search feature. 

The scholarship search feature allows new and continuing students to find information on both University and private scholarships.  The University scholarships are the result of generous donors who have given to DU.  While we don’t yet have a standard application process for these awards, we are in the process of developing a common DU scholarship application and hope to have it available by next spring.  When it comes available we will share this information with students through a variety of channels, including this blog.  

The private scholarships on our search site come directly from scholarship sponsors who would like us to share their information with DU students.  We receive letters, phone calls and emails on a regular basis from scholarship providers.  We do our best to screen this information, but scammers are getting more and more creative.  So always remember that you should never pay money to receive money and you should never share personal information like bank account, credit card, or Social Security numbers.

-Chris George

Financial Aid and the College Decision Process - NACAC 2012

Tomorrow I will have the pleasure of presenting financial aid information to students and families attending the 2012 NACAC Denver National College Fair. Over 4,000 attendees are expected to attend the College Fair being held at the Colorado Convention Center in Denver.  As the Director of Financial Aid at DU, I am happy to partner with NACAC to share my knowledge and expertise on Financial Aid & the College Admission Process. For those families looking to review the information that will be presented, click here:  Financial Aid and The College Decision Process

In addition to presenting at the Denver National College Fair, I have spent the last 3 days attending the 2012 NACAC National Conference in Denver.  While there have only been a handful of financial aid administrators at the conference, higher education cost, price, and affordability have been a part of so many conversations.  There is no doubt that admission and financial aid offices need to partner closely to help students attain their college degree -- definitely a strength at the University of Denver!  Over the next couple of blog posts, I'll share some of the knowledge I gained at the conference.

- Chris George

The Debate, CSS PROFILE and Scholarships

Oct 1, 2012: What an amazing week to be on the University of Denver campus.  With the first presidential debate of 2012 only 2 days away, there is a tremendous amount of activity around our building.  MSNBC started setting up a studio just outside our front door,

 

the landscaping in front of Mary Reed Hall was updated,

 

and a massive stage for Debate Fest is being erected for the thousands of people who will watch the debate on the south end of campus.   The excitement on campus is building towards a historic day at DU.  It’s a great time to be a Pioneer! 

However, this isn’t the only reason to be excited.  For the Financial Aid Office, today is the first day the CSS PROFILE application is available for the 2013-14 academic year.   We’re only 3 weeks into the current academic year and we are fully engaged in planning for next fall.  So if you want to get a jump on applying for financial aid, start here.  The deadline for completing the CSS PROFILE for new students is February 15, 2013 and the deadline for continuing students is March 15, 2013. 

Last, and most important, now is the time to start thinking about private scholarship applications.  You don’t want to wait until February as you will likely miss many of the application deadlines.  Finaid.org and CollegeinColorado.org provide great resources for students seeking information about the financial aid process and private scholarships.  Specifically, Finaid.org provides a 2-page reference guide on Winning a Scholarship.  In the coming months, our website will add a new scholarship search feature and on-campus scholarship application.  So come back to the blog or visit our website, www.du.edu/finaid, to check out the changes.

- Chris George

Billing & Financial Aid - Discoveries 2012

Yesterday Kathy Shoemaker and I had the pleasure to present billing and financial aid information to the parents of the University of Denver's Fall 2012 entering class.  It was great to see so many families engaged in this process.  

For my team in Financial Aid, our focus for the next two weeks is the start of the academic year.  But after that, our focus quickly shifts to next fall.  For families seeking need-based aid, the CSS PROFILE is available on October 1 and the FAFSA will be available on January 1, 2013.  The priority deadline for financial aid applications moves to February 15, 2013 for first-year applicants and March 15, 2013 for currently enrolled students, with financial aid letters being sent in late May next year. 

If you have questions, don't hesitate to contact the Bursar's Office or the Office of Financial Aid.  We understand the commitment families make to pay for a DU education and we are committed to providing the resources and options to make DU possible.  While we are unable to meet the full financial need of all of our students, the University continues to increase its financial commitment to students and families.

For those families looking to review the information presented yesterday, I have two different links to share:  

• One option is to view the presentation in your web browser: Discoveries 2012 - Billing and Financial Aid.
• The other option is to download the presentation to your computer:  Discoveries 2012 - Billing and Financial Aid (large 7 MB file)

Feel free to share comments or questions and I'll respond as needed.  Thanks again to everyone who attended the two sessions.

- Chris George