Sponsored by Jopari and Helmsman Management Services
Sponsored by Jopari and Helmsman Management Services
Financial Aid Officers want to partner with you (and with students) to work together for financial success because they know that applying for financial aid is only the beginning of the process.
During the April 28, 2020 Kids' Chance National Conference webinar, Daniel Barkowitz, Assistant VP of Financial Aid/Veteran’s Affairs, Valencia College, led the discussion on the national financial aid program and provided comprehensive information regarding how Kids’ Chance state organizations can assist families seeking funds to achieve their children’s educational goals.
About Those Forms
It’s important to understand the basics of how schools determine student aid. A number of forms that the student files are key ingredients: FAFSA (Free Application for Federal Student Aid), CSS Financial Aid Profile, schools’ own forms, and state scholarship application forms. While these forms gather relevant data, it’s not always data that accurately reflects a student’s current financial situation. Just think, March 2020 probably looks very different, from a financial standpoint, then March 2019.
Student Status
All applicants for federal student aid are considered either independent or dependent. Dependent students are required to include information about their parents in the FAFSA. The dependent or independent status is determined by responses to questions such as:
Professional Judgment (PR) Request
Changes in income, such as the death of a parent and/or loss or gain of income, can trigger the need for a Professional Judgment (PR) Request, whereby Financial Aid Officers can make adjustments in calculating student and/or parent contributions toward the Cost of Attendance (COA). Professional Judgment is authorized by the Higher Education Act but is not regulated by the federal Education Department. Financial Aid Officers are subject to audit but are given wide latitude in using their judgment in these cases. Some examples of how Financial Aid Officers may take action include modifying COA items, considering the costs that a student incurs based upon his/her disability, or overriding the dependency status of an otherwise dependent student to allow her/him to be considered an independent student.
Understanding Unintended Consequences
To ensure a scholarship is not somehow going to “undermine” a student’s financial aid package, it’s beneficial to ask about the schools’ policies. Do they have a written (or unwritten policy) on how they treat “outside” scholarships? Do they meet full need? Do they follow the “best” criteria for students?
CARES Act Impact
Very relevant, is the impact of the Coronavirus Aid, Relief, and Economic Security (CARES) Act which contains a $12B Higher Education Emergency Relief Fund (HEERF) with dollars going to both students and schools. For students, HEERF money must take the form of cash grants meant to support costs relating to the disruption of classes that occurred in March 2020. For schools, they have one year to spend the HEERF money, which can be used to reimburse refunds to students or for technology-related expenses. Schools may or may not have yet been in communication with students regarding this funding so look for updates from schools as information becomes available.
Learn more about Kids’ Chance of America and the upcoming National Conference webinars where our community still joins together to build skills that advance our mission—all from the safety and comfort of our homes.
.jpg)
%20(1).png)
