How Prepared Are You? Life – Part II: College #2 Understanding your Financial aid package

 

Let’s talk about financial aid.

 

 

 Once you’ve chosen your college you will receive a financial aid award letter. In it will be a grant, usually two loans, either a subsidized and a parent plus, or a subsidized and an unsubsidized loan.  You would receive the unsubsidized loan if your parents applied for the parent plus and were turned down. For these, you will need to sign a promissory note.

 

 There may also be something called work study. Work study is a job that you have on campus that pays you directly. This is great because that extra pocket change can go a long way to stretching your budget and not putting too much extra pressure on your parental units, if they are the ones paying for college. If you receive your award letter and there is no work study on it, you can request it. You can also show up on campus with your resume and a cover letter and take it around to the different colleges or departments at your university and apply for an on campus job.

 

 

If you have the opportunity to work on campus you should. It can open up doors for you in other areas that you may not have known about. It is a great way to network and meet people in your field. It is also a great way to find out about jobs and internships domestic and abroad in your field. So do a little digging, and ask some questions about work study and on campus jobs.

 

 

Outside of on campus jobs, if you do not have to work your first year I would suggest not to, unless the hours are minimal and they work well around your class and study schedule. Having money can be important, but failing your classes because you were spread too thin between work and school will cause you problems that it will take years to repair.  So take your time, learn your rhythm for how you learn, study, understand, and retain information. Once you know how to work at your best, you can add a job to the equation without compromising your grades.

 

 

Lastly, when you get on campus, make one of your first stops at the financial aid office to meet your officer and let them see your face. Become a regular there. They receive scholarship information year round and many times they have no one to award them to because no one applied for the scholarships. Students had no idea they even existed. To avoid this happening to you, make sure your officer knows who you are so when scholarship opportunities come across their desk, you are the person they have in mind. You will have much to pay for in school and every little bit helps.