Category Archives: Deadlines

Apply Online, Deadlines, Financial need, Grants and scholarships

Have You Applied for Oklahoma’s Promise?

The Oklahoma’s Promise scholarship program offers qualified Oklahoma students an opportunity to earn a scholarship for college tuition. To qualify for enrollment:

  • You must be an Oklahoma resident.
  • You must enroll for the scholarship in the 8th, 9th or 10th grade

(at the age of 13, 14 or 15 for homeschool students).

  • Your parent(s)’ federal adjusted gross income (AGI) must not exceed $55K per year. –  Special income provisions apply to legal guardians and certain adoptive parents. –

If you have just completed 10th grade, you must submit your application for Oklahoma’s Promise by June 30, 2020 in order to be considered for the scholarship. Students who just completed 8th or 9th grade and miss the June 30 deadline will be able to complete the 2020-21 application in the fall.

Prior to receiving the scholarship in college, the federal adjusted gross income (AGI) of the student’s parents (or the income of the student if the student is officially determined to be financially independent of their parents) may not exceed $100,000. Each year in college Oklahoma’s Promise students will be required to complete a Free Application for Federal Student Aid (FAFSA), which will be used to determine whether the federal adjusted gross income exceeds $100,000. To learn more about Oklahoma’s Promise and to explore other federal and state financial aid opportunities, visit:

Deadlines, Financial Aid Offers, Financial need, Money Management, Student Aid Report (SAR), Students and Parents, Types of Financial Aid

A College Sent Me A Financial Aid Offer – Now What?

When you submitted your Free Application for Federal Student Aid (FAFSA), you listed one or more college codes that represent the schools that interest you.  Once your FAFSA’s been processed, you may begin to receive financial aid offers from these schools sent electronically or via the US Postal Service. It’s important to read each offer carefully, as they describe the types and amounts of financial aid a college or career technology center can provide to help you pay for one year of higher education.

On your financial aid offer you’ll see:

  • The total Cost of Attendance (COA) – An estimate of what it costs to go to that school for one year
  • Expected Family Contribution (EFC) – A number calculated from your FAFSA that’s used by the school to determine how much financial aid you’re eligible to receive (most likely not the amount you’ll be expected to pay)
  • Types and amounts of aid the school can offer you; this list is often called a ‘financial aid package’. Your offer may consist of:
    • Grants – aid based on financial need that typically doesn’t have to be repaid
    • Scholarships – gift aid awarded to you by colleges, state agencies, foundations, tribal and private organizations
    • Federal work-study – an opportunity for you to work on or off campus to earn money for college expenses
    • Federal student loans – funds awarded based on financial eligibility that must be repaid, with interest
    • Federal PLUS loan – a loan your parent(s) may borrow to help you pay for college; your parent(s) are expected to repay the loan (credit check required)

Now, subtract all of the financial aid shown on the offer from your Cost of Attendance. This will determine your estimated Net Cost, which is the out-of-pocket amount you’ll be expected to pay. If you should end up with a negative amount, the Net Cost would be zero.

What options are available to help you cover the Net Cost?

  • More scholarships – You don’t have to be a straight A student or a sports star to qualify for many different kinds of scholarships. OKcollegestart.org and UCanGo2.org are great places to begin your scholarship search.
  • A 529 College Savings Plan – visit ok4saving.org for more information
  • Military benefits – visit military.com/education/gi-bill to learn more
  • A monthly payment plan approved by your school

Don’t forget:

  • You don’t have to accept all financial aid offered to you, especially when it comes to borrowing student loans. Using a monthly payment plan while you’re in college can be less expensive than a monthly loan payment with added interest after you’ve graduated. If you’re unable to make a monthly payment to the school, consider making smaller monthly interest payments on any unsubsidized student loan(s). This will decrease your overall student loan debt once you graduate or leave school.
  • Pay attention to deadlines. Accept or decline your financial aid offer before the specified date.
  • If you receive more than one financial aid offer, you may want to determine what your net cost would be at each college. Ultimately, you’ll want to choose the school that’s the best fit for you.
  • To add more school codes to your FAFSA, log in as a returning user at studentaid.gov.
Apply Online, Deadlines, Financial need, Grants and scholarships, Money Management, Student loans, Types of Financial Aid, Work Study

Student Loans: How To Borrow Smart from the Start

When you receive your financial aid offer from a college you may be interested in attending, it’s quite possible that one or more student loans will be included in the offer. If you need a student loan(s) to help cover the costs of college, you’ll want to borrow smart from the very start of your college experience to minimize your debt after graduation. Here are some things you need to know as you consider student loans.

  • Use ‘free money’ first. Take advantage of all the gift aid you’re offered—grants and scholarships—before deciding how much you’ll need to borrow.
  • You don’t have to accept student loans. You can decline any amount of financial aid that is offered to you. If you must borrow to pay college costs, only borrow what you’ll need to get you through one year of college. Review your finances each semester, and keep that commitment to borrow only what you need to cover school expenses.
  • Do your research. Some experts recommend that your monthly loan payment should be no more than 8-10% of the monthly income you expect to earn during the first year after graduation. To estimate your loan payments, try the Loan Calculator found at ReadySetRepay.org.
  • Subsidized = less expensive. Interest won’t be added to a subsidized federal student loan balance until after you graduate, withdraw or drop your class load to less than half-time status.
  • Make interest payments. Students who borrow federal unsubsidized loans are responsible for all interest on the loan as soon as their institutions receive the first disbursement. Student loan interest payments are generally affordable, even on a college student’s budget. If possible, keep the interest paid down while you’re in school and during your grace period. To help you think it through, see how two students took different paths to repay their student loans.
  • Keep in touch with your lender(s) and loan servicer(s). Always make sure you let them know your current address, and contact them if you’re having trouble making your payments. You can find contact information for your lenders/servicers at StudentAid.gov under Manage Loans. Be sure to have your FSA ID handy—it’s the username and password you created when you submitted your FAFSA. You’ll need it to access your federal student loan information.
  • Stay informed. Find more information and FAQs at ReadySetRepay.org and StudentAid.gov.
Apply Online, Deadlines, Financial need, Grants and scholarships, Money Management, Student loans, Students and Parents, Types of Financial Aid, UCanGo2 Resources, Work Study

Financial Aid Awareness Month

Happy Financial Aid Awareness Month! February is the time to learn how you can fund your education with various financial aid options. In order to receive federal financial aid, you must submit a Free Application for Federal Student Aid, or FAFSA. Once your FAFSA has been submitted, your school’s financial aid office will notify you of your aid eligibility. Before you decide which options you’ll accept, take time to learn about the different kinds of aid that are available to you. Since they’re all beneficial, here’s an overview of each type of financial aid.

  • Scholarships. Potentially the most significant type of financial aid available is a scholarship. It’s free money you can earn from your own hard work, financial need, merit, family history, skills, hobbies or athletics. The more scholarship applications you complete, the more likely you are to win an award. While you don’t have to submit a FAFSA to apply for a scholarship, some programs may request that you do. Scholarship applications could ask you to write an essay, submit a video, take a photograph or complete a service project. To make sure your application matches the scholarship requirements, read all directions carefully before you start the process. If you’re not sure where to look for scholarships, UCanGo2.org and OKcollegestart.org are great places to start your search. Remember that scholarships can be the additional assistance you need to help you reach your educational goals.

  • Grants. Sometimes referred to as free money since they usually don’t have to be repaid, grants are given to those who demonstrate financial need. A common type of grant is the Pell Grant. The Federal Supplemental Educational Opportunity Grant, or FSEOG, is not as common since it is only given to students who show extreme financial need. For students interested in becoming teachers, there’s the Teacher Education Assistance for College and Higher Education Grant, or TEACH Grant. Students interested in the TEACH Grant should carefully read all guidelines. If the grant requirements are not met, the money could turn into a loan that must be repaid with interest. Additionally, there’s the Iraq and Afghanistan Service Grant for those who’ve lost a parent or guardian due to military service in Iraq or Afghanistan after 9/11. As with any type of financial aid, be sure to speak with your financial office if you have questions about grants.
  • Work-study. Also called earned aid, work-study allows students to work and earn money for college expenses while they’re in school. Work-study positions are part-time jobs that can be on or off campus. The supervisors over these positions tend to recognize that school is a priority and are usually mindful of your class schedule. Take advantage of these positions because they can give you work experience and time to focus on your academic responsibilities. Each school will have different ways to apply for a work-study job, so talk with your school to learn more about the application process.

  • Student Loans. While this type of aid is borrowed money that must be repaid with interest, student loans can help you bridge the gap between grants and scholarships. When it comes to borrowed money, it’s important that you borrow only the amount you need to pay school expenses! Federal loans can be beneficial due to their fixed interest rates (it will not change over time) and flexible repayment options. One type of federal student loan is the Direct Subsidized loan. This aid is for undergraduate students who demonstrate financial need. The government will pay the accruing interest on a subsidized loan while the student is enrolled in school at least half-time. Another federal loan, the Direct Unsubsidized student loan, is for students who do not show financial need. With this loan, the interest will always be accruing on the loan and students will be responsible for paying the interest. For those who need extra financial assistance there’s the Direct Parent Loan for Undergraduate Students or the Direct PLUS loan. Parents of dependent undergraduate students can apply for the PLUS loan to help cover additional college expenses for their child. In order to receive a Direct PLUS loan, parents must complete the loan application and meet certain credit requirements. Students will have six months from the time they graduate, drop below half-time enrollment or leave school to start repaying Direct Subsidized and Unsubsidized loans. Those who take out a PLUS loan will have to start repayment once funds have been disbursed.

Now that you know a little more about financial aid, use this month to decide which options could be right for you. For more financial aid information, go to StudentAid.gov.

Apply Online, Deadlines, Financial need, Grants and scholarships, Money Management, Types of Financial Aid, UCanGo2 Resources

Spring Scholarships

Well, here you are, right in the middle of the academic year. How are things going so far? Do you have enough financial aid to pay for your spring semester in college?

The fall semester can often reveal expenses you didn’t anticipate when you accepted your financial aid offer at the beginning of the school year. If your budget’s being stretched to the limit, remember to explore opportunities for scholarships. Believe it or not, new scholarships can pop up in the spring semester, too! Here are some places to look:

  • Your financial aid office. There may be new scholarships available, or there may be some funds left over from a scholarship given to a student who didn’t return for the spring semester. If you’re a high school student, check in with your counselor and take advantage of the resources he/she has to offer.
  • Your college’s website. Institutional scholarships are often available at various times throughout the year. It’s a good idea to check the scholarship listings on your school’s website every week, or at least every two weeks.
  • Online. Oh, the possibilities! Where do you start? Here are a few suggestions:
    • UCanGo2.org/Scholarships – Learn about the Scholarship of the Week, then search by month and scroll down to make sure you don’t miss any application deadlines. You’ll also find a table full of additional scholarship opportunities for each month.
    • Search for brand names of restaurants, chain stores and food producers. Search the websites of health care systems and various law firms. Your search engine could become your best friend.

For a list of additional scholarship websites, see UCanGo2’s publication called Are You Looking for Money?

Deadlines, FAFSA Errors, Financial need, Students and Parents

What is Verification?

After you’ve submitted your FAFSA (Free Application for Federal Student Aid), it’s possible that your application could be flagged for verification. Verification is the process a financial aid office must complete to determine the accuracy of the information on your application. If your FAFSA is selected for verification, the financial aid office from the school(s) listed on your FAFSA may ask you to provide documentation about the addresses, names or financial data you provided. The aid officer will let you know which sections must be corrected and the documentation you’ll be required to provide to verify your information.

Being selected for verification doesn’t mean your FAFSA is incorrect. Annually about 30% of all FAFSA applications are chosen for this process and the financial aid office is required to verify your data. Monitor your email for requests for additional information and swiftly respond to those requests. Your eligibility for financial aid will not be reviewed until the verification process is complete. Follow up with the financial aid office to check on your application status because the more you cooperate with them, the faster the process will go. Verification is the last official step they’ll need to complete to provide you with a financial aid offer. The offer will list the amount and types of financial aid programs you may use to help cover your college expenses.

Deadlines, Financial need, Grants and scholarships, Money Management, Student loans, Types of Financial Aid, UCanGo2 Resources, Work Study

New Year, New Habits

The new year often comes with fresh enthusiasm for a renewed lifestyle. Whether it’s working out regularly, eating out less or resisting the snooze button, there is no time like the present to commit to new habits.

In addition to health and financial goals, there are some helpful academic goals that will prove beneficial from this school year to the next.

Scholarships: By completing the Free Application for Federal Student Aid (FAFSA), you’re considered for a variety of state and federal financial aid. We encourage you to “start” with FAFSA, and then continue seeking scholarship opportunities throughout the year. Check out UCanGo2.org for new scholarships by category and by deadline. Make a profile on OKcollegestart.org to view scholarship applications that are the perfect fit for you. It’s important to apply for as many scholarships as possible year-round, so make a habit of applying for 2-3 scholarships a week.  

Study Habits: While your grades and GPA are not taken into consideration with your FAFSA, schools will look at your academic achievements when deciding academic scholarship offers as well as acceptance to their school. Your grades in college will also determine if you maintain certain scholarship offers from year to year. To start or keep up good study habits, check out these study tips: https://ucango2.org/publications/student/Perfect_10.pdf

 Extracurricular Involvement: Many schools take more than just your grades into consideration. Join a club or volunteer in your community after school hours. Your involvement will look impressive on a college application. Are you already in college? Join a club or find opportunities in your community to share the skills and knowledge that you’re developing. It looks great on resumes for future employers. Whether you’re still in high school or you’re headed into the career field, extracurricular involvement is a good commitment to make in the new year.

Apply Online, Deadlines, FAFSA Errors, Financial need, Student Aid Report (SAR), Student loans, Students and Parents

What’s a Student Aid Report?

After you complete the Free Application for Federal Student Aid (FAFSA), be on the lookout for your Student Aid Report (SAR). The SAR is an electronic or paper document that summarizes the data you put on your FAFSA. It also provides some basic information about your eligibility for federal student financial aid. If you completed, signed and submitted your FAFSA electronically, this document will be sent to your email address within 3-5 days. If you did not include an email address, a paper version of the SAR will be mailed to your postal address in approximately 2-3 weeks. You can also access your SAR by logging in to your account at FAFSA.gov.

The SAR contains important information, like your Expected Family Contribution (EFC) and your Data Release Number (DRN). The EFC is a measure of your family’s financial strength and is calculated according to a formula established by law. It’s based on the information provided on the FAFSA, but the EFC is NOT the amount of money your family will have to pay for college. It’s a number used by your school to calculate the amount of federal student aid you’re eligible to receive.

Your DRN is located below your EFC on the SAR and is necessary if you want your college or career school to change certain types of information on your FAFSA. Speak with someone at your college financial aid office if there has been a significant change in income for you or your parents or you have a special circumstance you need to discuss with the aid administrator.

Your SAR might indicate that you’ve been selected for verification. This is a process schools use to confirm the information on your FAFSA is correct. Your college financial aid office will notify you if additional paperwork is needed to fulfill this requirement.

Review the remainder of your SAR for any errors. If you find anything that should be corrected, log back in to FAFSA.gov, access your FAFSA, and make the necessary changes. Then enter the appropriate FSA IDs and submit your FAFSA again.

Apply Online, Deadlines, FAFSA Errors, Financial need, Student Aid Report (SAR), Students and Parents, Tax Information

How to make FAFSA Corrections

The Free Application for Federal Student Aid, or FAFSA, is a form you submit to determine your eligibility to receive financial aid. This form asks various questions on information you probably haven’t thought about before. Since these questions may be uncommon to you and your family, it’s easy to make a mistake when completing the application. If you need to make corrections to the FAFSA after you’ve submitted it, there are a few ways you can fix the errors.

  • Log back in – If you need to correct some information on your FAFSA, such as change your high school’s name or add more colleges to the application, you can simply log back into the FAFSA form. To do this, you’ll need your FSA ID. When you log in, you’ll see a box that shows information about your application status, along with your next steps in the FAFSA process. Under this box is a section that says, “You can also”. In that section, find the link to “Make FAFSA Corrections”. Click on the link to access your application. After you’ve made the necessary changes, submit the application again with the correct information. Don’t forget to sign the FAFSA again with your FSA ID!

  • Update your SAR – When you first submit your FAFSA, it generates a Student Aid Report or SAR. This report shows all the information you entered on your application. If you need to change your name or Social Security number, you can make those adjustments by printing out your SAR and correcting the errors. Unfortunately, the application doesn’t allow you to update this information on the electronic version. You can find and print your SAR in the “You can also” section of FAFSA.gov, after you’ve logged in with your FSA ID. Once you’ve printed out the report and made your changes, mail the corrected SAR to the address stated on the form. Additionally, if you need to change your name due to marriage, divorce, etc., you must first make those changes with the Social Security Administration (SSA). When SSA has corrected your information, you can then update your FSA ID, as well as the FAFSA form, with the right data.

  • Speak with financial aid – For small changes such as updating your email or mailing address, you can use the previous two methods. However, if you need to correct financial information on the FAFSA, especially if you used the IRS Data Retrieval Tool, you may have to submit corrections through the financial aid office at your anticipated school. Students who manually entered their financial information on the FAFSA can log back into FAFSA.gov and make changes. Those who used the IRS Data Retrieval tool to complete the income portion must speak with their financial aid office to fix any errors. Talk to the office about the errors that were made and learn how you can correct the mistakes. The financial aid office may want extra documentation, so be sure to give them all the required information. You can make changes to your name or Social Security number through the financial aid office as well.

Submitting the FAFSA with the right information is important. If you need to make changes, don’t wait. Adjust your answers as soon as you learn a mistake was made. Using any of these methods will help you successfully make changes. For more information on how to submit FAFSA corrections, go to studentaid.ed.gov.

Apply Online, Deadlines, FAFSA Errors, Financial need, Students and Parents

What Happens After I Submit my FAFSA?

Once you hit the ‘Submit’ button after completing your FAFSA (Free Application for Federal Student Aid), you’ll receive a confirmation page. The confirmation means your FAFSA has been received by the Federal Student Aid (FSA) Processing Center and they’ll begin to review your application. A few days after that you’ll be notified that your FAFSA results have been sent to the colleges you entered on your application. You’ll also be able to review your Student Aid Report (SAR). The SAR lists the information you entered on your FAFSA and allows you to determine if any changes should be made. Follow the directions provided to retrieve your SAR and read the report carefully. The first page will contain valuable information about the next steps you should take.

If you find any errors on your SAR, go to FAFSA.gov, access your online FAFSA application and make the necessary corrections. If you’re changing one of your (student)answers, click ‘I am the student’ once you’ve logged in and enter your FSA ID and Save Key. If your parent(s) are updating one of their answers, they should click ‘I am a parent.’ They will log in using your personal identifying information along with the same Save Key. Don’t let anyone else log in with your FSA ID!

Please note: If any changes need to be made to the income figures provided on the FAFSA by you or your parent(s), it’s possible that your college financial aid office may have to make the changes for you. Students and parents who utilize the IRS DRT (Internal Revenue Service Data Retrieval Tool) can download their income figures from the IRS directly into their FAFSA, which can save you time and additional paperwork. To keep your information secure, however, once figures are downloaded you are unable to see them. Only your financial aid office will be able to view the results, and only they can make any necessary corrections. If changes do need to be made, you must provide your aid officer with the Data Release Number (DRN) which appears at the top of the SAR. Remember, never give your FSA ID to anyone in the financial aid office.

The colleges you included on your FAFSA will receive the results of your application from FSA directly. They will then begin working on a financial aid ‘package’ for you by determining your eligibility for funds from various federal, state and institutional resources. A financial aid offer will be sent to you through the mail or via email. You’ll be given a deadline to respond to the offer, letting the school know if you’ll accept or decline a part or all of the aid they’ve awarded. Remember, you don’t have to accept everything offered.

You may not receive an offer from every school listed on your FAFSA. Some universities may wait to provide a financial aid offer until you’ve been admitted to their school. If you don’t receive a response from one of your schools, contact their financial aid office to ensure they’ve received your FAFSA results.

From that point on, follow the directions given to you by the financial aid office at the school you plan to attend. They’ll be your best resource for any questions you may have about the financial aid process.