{"84041":{"#nid":"84041","#data":{"type":"news","title":"Financial Aid Director Offers Tips for Last-Minute College Cash","body":[{"value":"\u003Cp\u003ERecent increases in tuition for Georgia\u0027s public universities and community colleges have led some students and their parents to rethink how they\u0027re going to finance the upcoming semesters.  Marie Mons, director of student financial planning and services at Georgia Tech, offers tips for students and parents who are looking for a little extra cash.\u003C\/p\u003E\n\u003Cp\u003E1.\tIt\u0027s a good time to borrow\u003Cbr \/\u003E\nBeginning July 1, federal student loan interest rates will drop to 2.82 percent for students in school or in the grace period and 3.42 percent for students in repayment. Rates for PLUS loans (federally guaranteed loans for parents) will drop to 4.22 percent.  In most cases, taking out a student loan is a better investment than having a parent pull money out of an IRA or home equity.\n\u003C\/p\u003E\n\u003Cp\u003E2.\tTake more hours\u003Cbr \/\u003E\nAt some schools, including Tech, students pay per credit hour up to 12 hours. So, if you can take 15 hours, you will only have to pay for 12.  Over the course of several semesters, the savings add up.\n\u003C\/p\u003E\n\u003Cp\u003E3.\tThink about cooperative education programs, internships, work-study or part-time work\u003Cbr \/\u003E\nCo-op programs, in which students alternate between semesters of work and school, and internships can be great ways to earn extra money and gain experience that will help you land that first job.  Work-study can also boost your income, but those positions are limited, so act quickly if you want to get one.\n\u003C\/p\u003E\n\u003Cp\u003E4.\tAvoid scholarship scams\u003Cbr \/\u003E\nInformation on scholarships is freely available. You should never, ever pay anyone money for information that is free. Some will ask you for a credit card number or a bank account number so they can \u0022deposit the money in your account,\u0022 when they\u0027re really trying to set up a withdrawal. Despite their claims, there\u0027s not as much scholarship money out there as you might think. Non-university-funded scholarships account for less than 1 percent of the money available for students. \n\u003C\/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EThe Seven Deadly Sins People Commit When Trying to Get Financial Aid\u003C\/strong\u003E\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ESkip the application\u003C\/em\u003E\u003Cbr \/\u003E\nIt\u0027s like the lotto.  You can\u0027t win if you don\u0027t play. \n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EApply late\u003C\/em\u003E\u003Cbr \/\u003E\nDeadlines are important, and most people applying for aid meet them.  So don\u0027t expect much sympathy if you\u0027re late.\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EApply incompletely\u003C\/em\u003E\u003Cbr \/\u003E\nThe applications are important, so fill in every line.  This is not the SAT, where you\u0027re supposed to leave a question blank if you don\u0027t know the answer.  If you don\u0027t know the answer, find out, or call the financial aid office for help.\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003EDon\u0027t accept the offer\u003C\/em\u003E\u003Cbr \/\u003E\nIf you don\u0027t respond to the offer for aid, the financial aid office assumes you don\u0027t want the money. \n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ERefuse to provide a social security number or provide an incorrect number\u003C\/em\u003E\u003Cbr \/\u003E\nThis is government money.  They already know your social security number.  So while it\u0027s not a good idea to give your social security number to telemarketers or the guy on the corner selling hot dogs, giving it to the financial aid office is essential if you want the money. \n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ENeglect to report changes in financial circumstances\u003C\/em\u003E\u003Cbr \/\u003E\nIf your financial resources suddenly bottom out, let the financial aid office know.  Many awards are based on financial need, so if you have that need, make it known.\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cem\u003ELet your grades slip\u003C\/em\u003E\u003Cbr \/\u003E\nSome financial aid awards, such as the HOPE scholarship, are contingent upon students keeping their grades up. So don\u0027t throw good money away by getting bad grades.\n\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"Recent increases in tuition for Georgia\u0027s public universities and community colleges have led some students and their parents to rethink how they\u0027re going to finance the upcoming semesters.  Marie Mons, director of student financial planning and services at Georgia Tech, offers tips for students and parents who are looking for a little extra cash.","format":"limited_html"}],"field_summary_sentence":"","uid":"27304","created_gmt":"2003-07-11 00:00:00","changed_gmt":"2016-10-08 03:02:06","author":"Matthew Nagel","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2003-07-11T00:00:00-04:00","iso_date":"2003-07-11T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"84051":{"id":"84051","type":"image","title":"Marie Mons, Director of Student Financial Planning","body":null,"created":"1449178102","gmt_created":"2015-12-03 21:28:22","changed":"1475894704","gmt_changed":"2016-10-08 02:45:04"}},"media_ids":["84051"],"related_links":[{"url":"http:\/\/www.finaid.gatech.edu\/","title":"Financial Aid"}],"groups":[{"id":"1214","name":"News Room"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Cstrong\u003EGeorgia Tech Media Relations\u003C\/strong\u003E\u003Cbr \/\u003ELaura Diamond\u003Cbr \/\u003E\u003Ca href=\u0022mailto:laura.diamond@comm.gatech.edu\u0022\u003Elaura.diamond@comm.gatech.edu\u003C\/a\u003E\u003Cbr \/\u003E404-894-6016\u003Cbr \/\u003EJason Maderer\u003Cbr \/\u003E\u003Ca href=\u0022mailto:maderer@gatech.edu\u0022\u003Emaderer@gatech.edu\u003C\/a\u003E\u003Cbr \/\u003E404-660-2926\u003C\/p\u003E","format":"limited_html"}],"email":["david.terraso@comm.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}