Many students see getting to college as an educational goal achieved. Once they get there, though, stress and other issues related to life on a college campus becomes a new challenge to be overcome. An increasing number of studies show that many college freshman give up on their education due to mental health problems, as that variety of pressures a new environment can make students think that school is more than they can bear. Throw winter into the mix and it can become even more difficult for students to maintain their path on the course to success.
Here are some easy ways for students to deal with the change of season while staying on top of their mental health during the winter:
The usual routine of leaving a warm dorm bed minutes before class won’t cut it come winter time. Take at least 5-10 minutes extra to account for ice on your path to class, snow and time to admire the cute squirrels. Not only will this change help students overcome the perils of winter, but a change in routine is an easy way to get out of a rut that can lead to depression.
Maintain a healthy diet
Physical health is tied to mental health. While dining halls might offer more hot chocolate and marshmallows during the colder days, comfort food doesn’t always mean healthy food. A 2010 study found that the quality of diet impacts levels of depression in college students more than other factors such as socioeconomic or family issues. 
Take personal time, but don’t be afraid to talk to someone
College is challenging, but it’s important that students remember that they can succeed. Having support both from home and campus can mean a great deal to students dealing with the stress and emotional difficulties of facing college on their own. Having time to sit back and watch TV, read a book or just relax is an important part of a student’s day. And while calling home or writing letters or emails to touch base with family is important, the support of friends, social groups or even the mental health services available on campus can be more important in staying mentally healthy and addressing the depression that can come with winter. Talking to someone and asking for support is NOT a sign of weakness, it’s an important part of dealing with difficulties and staying on the road to success.
Verification is the process by which colleges review student financial aid applications for accuracy where the U.S. Department of Education identifies some FAFSA applications for colleges to review. In addition, colleges may review additional applications based on answers provided to certain FAFSA questions.
Roughly one-third of all FAFSAs filed are selected for verification and the process must be completed before financial aid can be awarded. If you are selected for verification, you can expect the following:
- When you receive your Student Aid Report (SAR) after completing the FAFSA, you will see a comment stating “Your FAFSA has been selected for a review process called verification. Your school has the authority to collect certain financial documents from you”.
- Your college’s financial aid office will contact you and inform you of documents you need to submit and any additional forms you need to complete.
- Your college may be required to verify the following data elements:
- Adjusted gross income
- Taxes paid
- Income earned from work (for non-tax-filers)
- Untaxed portions of IRA distributions or pensions
- IRA deductions and payments
- Tax exempt interest income
- Education credits
- Household size
- Number in college
- Receipt of food stamps/SNAP benefit
- Child support paid
- High school completion status
- Any other inconsistent or conflicting information.
- To verify the elements above, the college may ask for documents which may include, but are not limited to:
- Signed copies of the prior year tax transcripts for parent and student (if the student is dependent) or Federal IRS Data Retrieval.
- W-2s showing wages, 1099s and supporting schedules.
- Statement of child support paid, documentation that child support payments were made, and/or copy of the separation agreement or divorce decree that shows the amount of child support to be provided.
- Verification of net worth.
- Documentation of food stamps/SNAP benefit.
- Copy of the applicant’s high school diploma, final official high school transcript that shows the date when the diploma was awarded, GED certificate/transcript, state certificate or transcript received after passing a state-authorized exam (HiSET, TASC or other state-authorized exam) or a copy of the “secondary school leaving certificate” (or other similar document) for students who completed high school in a foreign country.
The best action you can take to reduce the likelihood of being selected for verification is to use the IRS data retrieval tool to automatically populate your (and if you are a dependent student, your parents’) tax information directly from the IRS into your FAFSA. When you use the IRS data retrieval tool, the tax information is considered to be already verified so you will not have to submit documentation.
If you are selected for verification, ensure that you respond to all requests from your college or university. If you do not submit documentation on time your financial aid may arrive after late fees have already been accessed to your account.
The thrill of earning a diploma is often being offset by fears of dealing with student loan repayment. While loan repayment is inevitable, many new grads will start on the wrong foot because of assumptions about their student loan responsibilities and ways to pay back their debt.
As we conclude #FinancialAidAwarenessMonth, here are four common myths that can be easily avoided to prevent students starting down the wrong path. It’s good advice for not just recent grads, but current students and those considering the impact of student loan debt on their educational plans:
If I need help understanding or dealing with student loans, my former college or university won’t help me. Even though a student may have graduated from a school, their financial aid office is still a great resource to help explain loan repayment options and connect students with loan servicers. Financial aid offices have a vested interest in helping students understand and stay on track with their loan repayment, as high default rates can negatively impact a school. So if a student starts to get confused by paperwork, the financial aid department is a great place to start..
I’ll never pay off my loans. Those first payments after graduation may feel a bit overwhelming, and will likely be a large part of any budget as a student gets started in their career. Salary increases, paying extra when budget allows and plain old perseverance will lead to progress. Income-based plans and automatic payments are just two options to “set and forget” loan repayment as a part of monthly budgeting.
Consolidating my student loans into one loan is a good idea. Loan consolidation may offer convenience, but often students will find themselves in situations which either are not eligible for consolidation or can actually negatively impact their repayment. Loan servicers will already use a combined billing for students with Federal loans so that the students have one payment to make and federal loans can’t be combined with private loans in a federal direct consolidation loan. In some cases, consolidating Perkins Loans can lead to students losing repayment benefits that the loan provides.
Filing for bankruptcy means not having to repay student loans. While Chapter 7 or Chapter 13 bankruptcy does help protect against some loans, most borrowers will not be able to discharge their student loans unless it can be proven that the loan repayment will cause an undue financial hardship. Rather than negatively impact a credit record with a bankruptcy, students should consider finding more flexible payment plans that best meet their needs during repayment.
Financial Aid Awareness Month is dedicated to helping families and students of all ages better understand the options available to them as they look to fund their educational goals and dreams. Iowa College Aid has dedicated a page to discussing some of the common issues facing those looking for financial aid.
Our staff of financial aid experts have also helped out this month, with advice on how to overcome financial aid issues (see last week’s post). This week they address two of the common myths that students have about applying for grants and scholarships and how to debunk them.
Myth #1: We make too much/my parents make too much – I won’t get anything
Family income is definitely a factor when it comes to handing out financial aid. The best kind of financial aid is always the “free” kind – the scholarships and grants that are given freely with no expectation of being paid back later. And often it’s this “free” money that has a “financial need” component to it. Many scholarship and grant providers want to give their awards to students who show some kind of financial need, and when a student’s/family’s income is high, usually the financial need is low.
Not all scholarships and grants are need-based, however. If your student is motivated, they can seek out scholarship and grant opportunities that are based on skills, abilities and interests, grades, musical, athletic or dramatic talent, essay-writing, or a number of other merit-based achievements. The key is looking for them. You know the saying, “you can’t win if you don’t play”? That same philosophy applies to scholarship competitions. Investing some time online searching for “scholarships for high school juniors” or “scholarships for journalism majors” or, if writing essays isn’t a strength for your student, “no essay scholarships” might provide some avenues of funding.
Myth #2: My parents aren’t helping me pay for college so I can’t get financial aid.
Students who are financially independent from their parents can often access additional student loan funds, but a parent’s unwillingness to pay for college doesn’t make you financially independent from them.
The primary circumstances that cause a student to be financially independent are:
- Orphan/ward of court/foster care/emancipated minor/legal guardianship/homeless status
- Veteran of the Armed Forces of the United States
- Graduate or professional student
- Student’s marriage
- Student provides support to dependents
Detailed information about these circumstances can be found on the federal Department of Education website https://studentaid.ed.gov/sa/fafsa/filling-out/dependency
If a student has no contact with their parents, or if the student doesn’t reside with their parents because of an abusive or neglectful situation, the student can approach the financial aid office at their college for special instructions on how to complete the parent section of the FAFSA or to determine if there’s a need for a dependency override.
Financial Aid Awareness month encourages students who are getting ready to attend (or are currently attending) college to put together a game plan that helps them achieve their college dreams in the most cost effective way possible. Completing the Free Application for Federal Student Aid (FAFSA) is the first step and a vital one. But once that’s done, where do students go to figure out how to get the money they need for college.
Iowa College Aid not only awards and administers state grants and scholarships for Iowa students, but helps students stay on top of all the resources available to help them graduate college with as little debt as possible.
The financial expert team from Iowa College Aid ranked the ways for students to fill that gap between the money awarded to students in a school’s financial aid award package and the cost of attending the school of their dreams. Here are their top picks:
You filed your FAFSA, you submitted the State’s Financial Aid Application, you met the deadlines and you’ve done the math – your financial aid is just short of covering your tuition bill. You still need a few more dollars to pay for the semester and buy books, what else can you tap into?
Savings and 529 Plans: The first resource to explore is your own savings account or 529 account. If you (or your parents) have been saving money for college, now is the time to use it! Not only has the money been set aside for this purpose, but using savings or college investment accounts could reduce or eliminate the need to borrow additional loans.
Explore private scholarships: There are many scholarship search websites that allow you to create a profile and search for scholarships that fit your skills, abilities and interests and often scholarship essays can be tweaked and customized allowing you to use the same essay multiple times. Make sure to read directions carefully and pay attention to deadlines. And don’t rule out “fun” scholarships like those found on unigo.com – who knows, maybe your creative 250 word essay on what flavor of ice cream would you be could score you a $1,500 scholarship?
Payment plans and paychecks: Since colleges bill you for the entire semester at once, it can be overwhelming to get a bill in the mail for the whole semester. But what if the amount you owe could be divided into 4 or 5 monthly payments? If you’re working part-time, maybe it becomes more manageable to think about making monthly payments to your college when you know you have a paycheck coming.
Parent PLUS and other student loan options: If borrowing more money becomes an option, talk to your Financial Aid Office about which loans are available to you (and your parents) and which loans have the best repayment terms and interest. Your student loan options will differ depending on if you have a co-signer, or if you want to start repayment after you graduate (versus starting repayment while you’re still in school), or if you want a fixed or a variable interest rate. Your Financial Aid Office can help you sort through options and pick the loan that works best for you.
Since November is Financial Aid Awareness Month, we’re providing students and families with tips and information for helping pay for college at all ages: high school senior, current college student, adult learner and more. While finding ways to get financial help with your college education is important, making sure students use that money wisely is possibly even more important.
Getting the most of your money in school is vital to keeping your finances under control. Scholarships and grants might only be allowed for specific school costs, while student loans will have to be paid back (with interest) after graduation. So having a good game plan when it comes to finances in college can pay off not only in school, but for years after graduation.
- Make a budget. Commit to creating a monthly budget AND live within your budget each month.
- Utilize a calendar. A calendar is not just for plotting your class schedule, campus organizational meetings, and social events. A calendar can be an effective tool for managing the due dates for your monthly bills—rent, cell phone bill, car payment, utility bill, etc. Making note of due dates helps to ensure that you will not miss a payment and potentially harm your credit history.
- Shop around for text books. Many bookstores, as well as online retailers, offer used textbooks for much cheaper than buying a “new” textbook. If you won’t want to keep your textbook for future reference after a class has concluded, consider renting a textbook for the semester.
- File the FAFSA on-time, every year. If you plan on attending college in the upcoming school year, be sure to file your Free Application for Federal Student Aid (FAFSA) prior to your college’s priority deadline. Doing so will ensure you are considered for all financial aid opportunities the school has to offer.
- Get a part-time job. A part-time job can allow you to meet your basic needs, as well as reducing the amount of student loans you need to borrow. Working 15 hours per week at a part-time job can dramatically reduce your need for student loans to cover living expenses. Additionally, most colleges have numerous on-campus employment opportunities for students.
- Plan early for a summer internship. During the first week of the spring semester, visit your college’s career placement office and discuss your desire for an internship during the upcoming summer with a career advisor. Career advisors can provide information about companies looking for interns, as well as information regarding career fairs on campus. Many internships pay a stipend or salary which can help pay for expenses while you’re in college and can lead to a job after graduation.
- Know your financial aid options. Visit the Financial Aid office on your campus during the first three weeks of the spring semester to discuss your current year’s financial aid and to check into scholarships and grants available for next year.
- Be a savvy shopper. At the grocery store, opt for the store-brand product. It is often significantly cheaper than its name-brand counterpart, and the money you save can be used to pay interest on your student loans or keep you from having to borrow more loans next year.
- Protect your Personal Information. If you aren’t already, start safeguarding your Social Security Number, credit card and bank account numbers, along with any other non-public personal information. Shredding sensitive information will ensure it doesn’t fall into the wrong hands and can help protect you from identity theft.
- Separate Needs from Wants. Although it may seem like you need that morning latte from the local coffee house to start your day; at $3.50 per day, that adds up to $1,277.50 per year! Make your financial choices based on what is necessary to meet your basic needs, and avoid wasting money and borrowing more to satisfy your wants.
Even implementing some of these tips into your regular routine will turn you into a smarter consumer when it comes to money and help set you up for a bright financial future.
October is #CollegeApplicationMonth, recognizing and encouraging high school seniors who are starting the process of applying for college. Iowa College Aid’s “College Application Campaign” works in schools around Iowa to help students complete at least one college application during the course of the school day.
According to many education professionals (including a high school principal and college representative), completing only one college application can severely reduce a student’s chances to getting accepted to a school. While students may have already targeted which school is their number one choice, applying to other schools will provide alternatives, should they not be accepted. The term “safety school” might be thrown around, but, for many students, finding a school that fits their needs can result in having more than one option when it comes to a school that can help them meet their goals.
One way of applying for multiple schools easily is by completing the “Common Application.” This application allows students to complete one application and then choose the schools to which the application should be sent. While this can save time, not all schools accept the Common Application. Eleven Iowa schools are included in the 149 schools in the Midwest available through the Common Application, but include public schools such as the University of Northern Iowa, as well as many private colleges and universities, such as Drake University.
For Katie Pilcher, a mother who has recently sent her son to college, the Common Application provided a great tool for saving time and relieving some of the stress connected with the college application process. She shares her recent experiences:
My advice is to attend any meetings with counselors about the application process that schools provide. It is also helpful to become very familiar with the Common App, since most colleges use that. Parents and students should do online searching about colleges they’re interested in so that they understand each college‘s application process and deadlines.
The whole process can be stressful at times. My sons wanted some freedom and independence in filling out applications, yet at times they needed gentle reminders about deadlines!
Both of my sons applied to several schools so that their bases were covered and because they were interested in more than one school. Some colleges require essays above and beyond the essay part of the Common App, which can prolong the application process and put added pressure on students. Therefore, it’s important to determine the application process of colleges, especially when applying to several colleges.