Still on the road today, attending the last day of the MASFAA financial aid conference. Some insights from yesterday…

The state of Massachusetts so far has not cut budgets for financial aid for FY09, which is good news for Massachusetts students. That said, with the current economic pressures, that status is not guaranteed in the coming year. At the same time, Massachusetts colleges, especially public and community colleges, are reporting record enrollments. One community college leader reported that they were bursting at the seams, saying that enrollments were challenging their resources.

At a regional update, many financial aid administrators reported they are starting to receive more appeals for financial aid than normal in the last two weeks. Students are asking for more aid because of economic pressures on their families.

There were a ton of debt numbers with regard to college students in the financial literacy session. A few select ones:

- Over 60% of first year college students max out their first credit card within a year.
- Indebted adults between 18-24 pay on average 30 cents of every dollar earned on debt.
- Over 1/3 of college students graduate with $10K or more in credit card debt. Not student loans - credit card debt.
- Over 25% of college students regularly pay late fees on credit cards.

During a conversation about scholarships, one of my colleagues pointed out that 2008 scholarships and endowments were already funded at the end of 2007, which means that 2008 scholarships are largely unaffected by the economy. Not so for 2009 - so expect scholarship hunting to be a lot more competitive, with many more students chasing potentially fewer dollars. Be prepared for this by hunting now - add December 31 to your scholarship search queries to see if you can round up some last end-of-year scholarships now.

Finally, this coming year is going to be one in which you’ll need a good relationship with your financial aid officer. Between new latitude for professional judgements and new economic pressures, that relationship could mean quite a bit.

Subscribe to RSS headline updates from:
Powered by FeedBurner

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Online degrees programs and directories at Edvisors.com
+ Free college scholarships contests!
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit PrivateStudentLoans.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Send me your comments, questions, and feedback using this handy contact form!

Daily Aid 40: The MASFAA Financial Aid Conference, Day 1

It’s been a fascinating and somewhat troubling time here at MASFAA, the Massachusetts Association of Student Financial Aid Administrators. Fascinating because I’ve picked up a ton of useful information about changes in financial aid, gotten great feedback on the Scholarship Search Secrets eBook and the FAFSA Guide eBook that we publish, changes in financial aid procedures, and other great tips from colleagues about how to handle certain situations.

A few changes I thought especially noteworthy:

- The FAFSA changes for this year that are significant, such as dislocated worker and homeless youth, have no official documentation for verification, which means that financial aid administrators and government officials are having to create forms for documentation.

- Professional judgement overrides for financial aid administrators have been made more flexible, including an unusual override that lets a student borrow up to the full amount of an unsubsidized Stafford loan without the FAFSA.

- Convicted sex offenders no longer qualify for the Pell Grant. However, there’s no process in place to document or verify who is or is not.

- There are a lot of ambiguities around the labor language for dislocated workers. For example, who is underemployed vs. unemployed. The Bureau of Labor Statistics has some measures, but do BLS/Department of Labor definitions apply to the Department of Education?

- For colleges that use institutional methodology for determining financial aid need, there will now be discrepancies between that method and federal methodology, which is what the Department of Education uses. Some of the items that the federal methodology eliminated, such as foreign income, are still used by institutional methodology, which means that some students will have different need levels depending on what college they apply to.

Because of the many regulatory and procedural changes in the upcoming year, the most important piece of advice I can give is that it’s vital, absolutely essential, that you have a good relationship with your school’s financial aid office. Do your level best to be on great terms, first-name basis, with your financial aid counselors and staff, because with all of the ambiguities and interpretations for the new changes, that relationship may determine how much help you get.

There are some other, smaller bits of information which will find their way into the FAFSA guide and other publications, blogs, and newsletters in the days and weeks to come, but these were some of the highlights from the event so far. Today is day 2, and lots more to study and learn.

As for troubling, in many private conversations with my colleagues, there’s been a great deal of concern about the economy and where things are headed. The general consensus is that financial aid in the year ahead will be asked to do more than ever with fewer resources than ever, and that’s a tall order in any environment, much less in the current economy. We’ll see what’s ahead, and as always, you’ll get the news first from the Student Loan Network and the Financial Aid Podcast.

Subscribe to RSS headline updates from:
Powered by FeedBurner

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Online degrees programs and directories at Edvisors.com
+ Free college scholarships contests!
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit PrivateStudentLoans.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Send me your comments, questions, and feedback using this handy contact form!

I’m had the opportunity to share some materials at the Massachusetts Association of Student Financial Aid Administrators 2008 annual conference, and materials from my presentations are here for you to enjoy. If you attended one of my sessions, thank you so much for being a part of the sessions, and please give me feedback about how the session materials can be more useful to you, as well as how the Student Loan Network can better help you!

One question that came up after the sessions was whether or not you could share any of this or link to it - yes, absolutely. You don’t need permission to do that - please DO link to the eBook and share it with as many students as you want, put the link into presentations for financial aid nights, however you want to share it, please do.

I also want to say a special thanks to the Conference Committee and MASFAA leadership for the opportunity to share some of the stuff I’m doing with the Student Loan Network, and I hope to see you at an upcoming PD&T or financial aid event soon, like Massachusetts College Goal Sunday!

eBooks references

Scholarship Search Secrets eBook
2009-2010 FAFSA Line By Line Guide eBook

Scholarship Search Secrets slides

Scholarship Search Secrets Video

Social Networks and You slides

Social Networks and You video

Web Site Hot Seat/Web Site Live Demo slides

Web Site Hot Seat/Web Site Live Demo video

Subscribe to RSS headline updates from:
Powered by FeedBurner

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Online degrees programs and directories at Edvisors.com
+ Free college scholarships contests!
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit PrivateStudentLoans.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Send me your comments, questions, and feedback using this handy contact form!

I presented at the Inbound Marketing Summit on the topic of Should Your Business Be Podcasting? Here’s the video:

Video streaming by Ustream

The slides are located here - use these rather than squint at the video!

Resources - Corporate

The Financial Aid Podcast
The Student Loan Network

Resources - Personal

Mitch Joel at PodCamp Toronto
PodCamp
Personal blog
Marketing Over Coffee Marketing Podcast

Subscribe to RSS headline updates from:
Powered by FeedBurner

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Free college scholarships contests!
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Private student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Send me your comments, questions, and feedback using this handy contact form!

From the NASFAA national conference this past summer.

Subscribe to RSS headline updates from:
Powered by FeedBurner

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Free college scholarships contests!
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Private student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Send me your comments, questions, and feedback using this handy contact form!

From the NASFAA conference this past summer.

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Private student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Get FAFSA news at the FAFSA blog

+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

FAP845: Awaken Your Superhero from Podcasters Across Borders

Listen now:

I gave a brief, five minute talk about how podcasting is changing the world at Podcasters Across Borders 2008. Enjoy!

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Financial Aid discussion forums
+ Get FAFSA news at the FAFSA blog
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Many thanks to everyone I had a chance to meet at the NASFAA national conference! I’ve put together some resources for you from the conference that might be of help.

The guest speaking I did with Dr. Steven Bryant was a short version of this session from EASFAA. Here’s the video in full:

Slides from the session are here:

| View | Upload your own

I was asked to record and produce the The College Goal Sunday What’s Working Session video:

Here’s the audio from the Retention of Underserved Students session.

And finally, some fun - a musical slide show of the conference, featuring the music of Black Lab.

I’ll have more content from NASFAA as I produce it, so be sure to bookmark this page and share www.FinancialAidPodcast.com/nasfaa08 with others who want to get this material.

FAP839: Retention of Underserved Students and How Financial Aid Administrators Can Help

A session from this year’s NASFAA national conference.

Listen now:

A few dollars a month for medication may cause a low-income college student to drop out of school. An $8 transcript fee may prevent a student from transferring to a four-year institution. One-third of all first-year students who enroll at America’s colleges and universities will not return to the same institution next fall. On Point for College serves over 1,800 students in Syracuse, NY and works daily with the financial aid community to help them succeed. The presenters will share 27 retention program elements and 13 simple ideas that any campus can implement.

Moderator: Jeanna Keller, Program Manager, Lumina Foundation for Education

Presenters: Virginia Donohue, Executive Director, On Point for College

LaSonya Griggs, Assistant Director of Financial Aid, Ithaca College

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Financial Aid discussion forums
+ Get FAFSA news at the FAFSA blog
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

FAP837: Review of the NASFAA National Conference, Free Stuff Friday

Listen now:

Student Financial Aid News
+ A review of the NASFAA national conference in depth
+ A longer than normal show

Scholarship Update
+ Scholarship Points, kids.
+ Scholarship Search Secrets eBook.
+ PodCamp Boston scholarships

Free Stuff Friday
+ I’d encourage everyone, regardless of whether you’re a student or not, to actively research cost-saving options for fuel and food. Take a look at community supported agriculture (CSAs) in your area - you may find a community farm that will save you significantly over the grocery store.
+ If you use oil heat, ask your furnace manufacturer if your heater can accept a mix of fuel oil and waste vegetable oil, or even straight waste vegetable oil, which could save you hundreds, even thousands, of dollars this winter.
+ For those families with fireplaces, investigate the potential cost savings of a wood stove fireplace insert, which will let you burn firewood instead of propane, natural gas, or oil.
+ Consider alternate modes of transportation - Matthew Ebel has recently highlighted a conversion kit for a bicycle for $1,000 that will transform a regular bicycle into an electric vehicle, which could be practical for those with relatively short commutes. If your budget permits, consider a hybrid vehicle; at the least, reduce your driving and inflate your tires to the maximum safe pressure.
+ Be mindful of your other utilities as well. Use power strips with off switches to prevent appliances like DVD players from consuming electricity unnecessarily. If you have access to your toilet tank, put a fist-sized rock in the tank to reduce the amount of water used per flush. If you find that your toilet performs satisfactorily, replace the rock with a brick or sealed, water-filled glass bottle to further reduce the water used per flush.
+ Make liberal use of free entertainment. Your local library has likely evolved quite a bit since your early childhood days, and if you haven’t been back recently, you may be surprised at what you’ll find. Local libraries often have significant CD and DVD collections which you can borrow for free or at nominal cost - my local library charges $1 per week for hit movies, and no charge for CDs and non-fiction DVDs, including past seasons of popular TV shows.
+ There’s tons of free entertainment online - download popular podcasts like the TED conference for some videos that will blow away anything you can find on television, plus thousands and thousands of other great shows. There’s still lots of free wireless to be found at places like public libraries, some fast food and coffee shops, and other locales. You can find great audio and video all over the place, and if you download it onto a laptop, you can take it home with you and watch it with the entire family.
+ Check out the events section for your town on popular event sites like Craigslist, Upcoming, and Eventful, as you may find terrific local music festivals and other community activities that are free. Many unconferences such as BarCamp and PodCamp are free, and those that charge may have scholarships for students to attend.
+ Your town may have lots of free stuff you don’t even know about. In the town I live in, there’s a weekly events calendar which is poorly organized and poorly publicized, but has lots of great events and activities on it, from free play groups for kids to free movie nights, and many other free or very low cost activities. Your tax dollars already go to support these activities, so make sure you check out your town’s municipal web site.
+ Check out the Friday episodes of the Financial Aid Podcast, where we highlight every week a bunch of free stuff online and offline that can save you significant money. Grab our free scholarship eBook to find scholarships using Google and other online tools. Check out our other student financial aid resources, too.
+ Free hearing aid batteries from Energizer
+ Dress like a cow at Chick-Fil-A, get a free combo meal today only
+ Free Stevia Sweetener

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Financial Aid discussion forums
+ Get FAFSA news at the FAFSA blog
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.