Opening Doors

April 2007

Greetings,

I love this time of year for one reason: taxes. For Great Lakes' Outreach and Access Awareness Department, it means that students and families are starting to prepare for college by completing their FAFSA. We savor the opportunity to provide assistance and guidance to students and families with this process.

The FAFSA initiates students and families into the financial aid world, many for the first time. They often have questions, and we're happy to help. One way we do this is by offering Financial Aid Nights. Financial Aid Nights allow us to help students with the financial aid process from beginning to end. We help students learn about the various financial aid types and tips for filling out the FAFSA.

During our face-to-face sessions with students and parents, many questions are tossed our way. In fact, this year, we even had a suggestion to share some of the frequently asked questions with the financial aid officers we interact with! And so, I have compiled a list of the most common questions we have heard this year:

• "Do I have to come up with the amount of money indicated by my Expected Family Contribution (EFC)?" or "Why does the college expect me to pay more than my EFC indicates that I can?"
• "My parents are divorced, and my time is spent nearly equally with each parent. Which parent do I include on the FAFSA?"
• "My parents are now divorced/separated, but they weren't last year and last year's taxes were filed jointly. How do they complete the FAFSA?"
• "When reporting the amount of cash, savings, and checking available on the FAFSA, it indicates the amount to be reported is to be as of that day you are completing the FAFSA. What if that day is payday, but I haven't yet paid my bills for the month?"
• "Will my 401(k) be considered a reportable investment on the FAFSA, even though it is for my retirement?"

Guiding students through the financial aid process is just one way we help them open doors to higher education. We hope this information is helpful for financial aid professionals as you prepare to respond to students who come into your offices. It's rewarding to have these interactions with students and see their enthusiasm firsthand. We look forward to providing Financial Aid Nights in even more communities!

Until next time, have a great month!

La Toya Sykes, Director
Outreach and Access Awareness

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