Student financial aid offices deal in big numbers. Not just financial numbers, but massive files of FAFSA data coming into and out of large databases, hundreds, sometimes thousands of incoming and outgoing documents including student requests, requests for further information and financial aid award letters. Most college financial aid offices virtually hum with efficiency. With this in mind, it is also the role of the financial aid office staff to treat you, the consumer, with individual care and respect. Sometimes, in the hectic pace and hyper efficiency, stopping to help one student with a specific problem is like trying to stop a train to let a bunny cross the tracks. It’s a good idea and the right thing to do, but often more difficult to achieve than it should be. Train analogy aside, good financial aid offices have specially trained staff ready to help students and parents with special requests, one-on-one counseling, budgeting and financial literacy programs. In an era where most of the financial aid process is online and impersonal, meeting with a financial aid counselor or specialist can be a refreshing and informative experience for both the student and the parent.
It is a good idea for students to contact their financial aid office (FAO) before any problems arise. Being proactive in the financial aid process pays high dividends. If a family has experienced a financial hardship that was not adequately reflected on the FAFSA application or the CSS profile, it’s best to approach the FAO. In some cases, extraordinary expenses for medical care for a dependent child or spouse can be taken into consideration by the financial aid office and the Estimated Financial Contribution (EFC) can be adjusted. In the event of a catastrophic loss like the death or total disability of a parent, an FAO can advise on what documents are needed in order to recalculate the EFC. Students and parents are advised to be prepared, in almost all cases, to properly document any special request. A student’s burden is to make an appeal for reconsideration sound reasonable, well documented, and substantial. A minor loss of income, brief period of unemployment or the sudden desire to own a yacht are typically not considered extraordinary circumstances.
Other services a FAO can provide are student loan counseling, budgeting and financial education. They can also provide information on private college scholarships and student grants. Many excellent publications from the Department of Education and various guarantee agencies can be picked up for free at the FAO. Some include budgeting worksheets and advice on money management. Students can also reduce or cancel their student loans via their FAO. Students have the right to cancel any future loan disbursement and any loan that have already disbursed provided they notify the office in writing within two weeks of receiving the funds. All funds must be returned by the time of request cancellation. Adjustments to student’s cost of attendance are common requests in the typical financial aid office. Students wishing to study abroad, desiring additional loan funds for the purchase of education related technology, or extraordinary classroom costs like class trips or special equipment can all be considered by the FAO. Once again proper documentation and a reasonable rationale should be provided. It’s a good idea to follow the steps suggested by the FAO to assure their requirements for proper documentation are met.
