When the college years arrive, there are two things most families can pretty much count on: Tuition costs will be high, and many students will need financial help meeting them.
The all-American athlete or high school valedictorian may earn a free ride, but other students seeking financial aid should know that a wide variety of alternative funding sources are available and waiting to be tapped.
Initially, students must complete the FAFSA–Free Application for Federal Student Aid–once parents have collected all the forms and receipts necessary to prepare their income taxes. All colleges require a FAFSA before students receive any aid. If you don’t qualify for financial assistance from the school you’ll be attending, it’s time to look elsewhere.
Melissa Blum, a 1998 high school graduate now attending Loyola University, cashed in on a number of local scholarships available in the Schaumburg area where she lives. Besides $10,000 in aid from Loyola, she received nearly $6,000 more from a variety of other sources.
“The largest amount came from the Alfred Campanelli Charitable Foundation, where I received $2,000,” Blum said. “I also received $1,000 from my high school, $1,000 from the Schaumburg Rotary and $300 from the Hanover Countryside Schools.”
Marge Lee, a corporate secretary for Campanelli, said the scholarship began years ago after an employee died, leaving a spouse and children. Funds continue to be awarded to students of single-parent families.
“There are usually about five or six recipients a year, and a total of $10,000 or so is awarded,” Lee said. “Originally, the money was for students who had lost a parent, but it’s been expanded to include children with divorced parents.”
Mike Betlinski, who works as a guidance counselor and scholarship coordinator in Schaumburg for High School District 211, says there’s a variety of financial opportunities that await students who aggressively go after them.
“The thing is, these options don’t come up and bite you,” Betlinski said. “You have to look for them and fill out the applications. The best thing a student can do is to apply early to college and be admitted. You can’t apply for aid until you’re admitted. There’s always a limited pool of money and those that apply early may get some of it before the pool shrinks.”
“One of the things I learned is that you have to fill out the applications as soon as you get them,” Blum said. “Don’t wait until the deadline. Filling them out shows people that you’re efficient and that you’re really sincere about needing the money. You have to force yourself to carve out time between your homework and social life and get them in.”
High school students may be kept abreast of scholarship opportunities through their counselors. For those not in the loop, Betlinski says another good place to start is with Higher-EdNet, a service funded by the Illinois Student Assistance Commission. The service allows you to access a database of financial aid sources based on an individual profile form that can be filed free on the Internet.
“Free student results are available within 24 hours when students file on-line,” Betlinski said. “Students may also submit the form in print and pay a $10 processing fee.”
Questions about grades earned, interests, religion, nationality, parents, union membership and more are used to match students with possible scholarship opportunities. Higher-EdNet’s service allows students to locate financial aid “beyond the traditional federal and state aid programs” and “reflects potential sources.” Students should ask their guidance counselor for forms or may call 800-899-ISAC to request one. The Web address is www.isac-online.org. It is recommended students begin looking for aid one year before they need it.
Here’s a list of other Web sites and resource publications that may help in locating financial assistance:
– An excellent source is “Need a Lift,” the college financial aid handbook published annually by the American Legion. Copies are available in most libraries or school guidance offices, or you may call 888-453-4466 and ask about purchasing a copy for $3. Inside, you’ll find chapters on federal and state aid programs, private loans, scholarships and Internet resources.
– One example to check out is CASHE–College Aid Sources for Higher Education–that works like Higher-EdNet to direct you to a customized list of financial assistance programs. The profile form can be completed on-line through CASHE’s Web site at www.cashe.com or www.salliemae.com. There is no charge for the service. Call 800-322-3674 if you cannot access CASHE through the Internet.
– State benefits for veterans and dependants include the Illinois Veteran Grant, the Illinois National Guard Grant, MIA/POW scholarships and financial aid for dependents with physical, mental or developmental disabilities. Contact the Illinois Student Assistance Commission in Deerfield at 800-899-ISAC for the Veteran or National Guard Grants and the Illinois Department of Veteran Affairs in Springfield (217-782-3564) for disability financial assistance.
– “College Financial Aid for Dummies” ($19.95) by Herm Davis and Joyce Lain Kennedy offers “great ways to pay without going broke.” Available at most bookstores.
– Daniel J. Cassidy’s “The Scholarship Book 2000” ($40 list hardback; $25 paperback) is one of the most widely used references available.
A “quick find” index directs readers to a number of unusual scholarships in such categories as extracurricular activities, family ancestry, occupational goals, religious affiliation and even more unusual listings like descendants of seafarers, orphans and left-handed people. These and other “unusual” scholarships represent some of the most untapped sources for aid. Students are encouraged to contact their college’s financial aid office to find out what is available.
– The National Scholarship Research Service (NSRS), like CASHE, will provide information on private sector programs for all levels of college study. There is a $185 fee for the service, which will match you with scholarships, loans and grants and mail the applications to the appropriate agencies, while keeping track of the various deadlines. Call the 24-hour information line at 707-546-6777.
Those with household incomes above $50,000 per year generally don’t qualify for Pell Grant money, yet most families at or near that level would be hard-pressed to meet tuition costs. Betlinski says the amount of money available over the years has stayed fairly constant, but that the number of students applying for loans has increased.
“The cost of education has far outpaced the level of inflation,” he said.
Families whose income exceeds that federal $50,000 limit shouldn’t be discouraged about their chances of receiving aid. Cassidy points out in his book that 80 percent of scholarships offered by private entities aren’t based on financial need.
Parents are encouraged to seek out information on scholarships available through the human resources department at their work, through local service organizations, their church and unions. Most high schools have parent booster groups that offer scholarships as well.
In the Chicago area, some examples of private-sector scholarships include awards from the Chicago Bulls (Feb. 5 deadline); the Jewish Vocational Service (applications available Dec. 1) for members of the Jewish faith with specific work goals; the Joseph Blazek Foundation (Feb. 1 deadline) for students majoring in chemistry, engineering, math or physics; and the Ronald McDonald Hispanic Scholarship (Feb. 1 deadline).
