Financial aid for students remains unclaimed

By Valerie DePan

Fifty percent of the students that haven’t applied for financial aid are probably eligible for free grant money from the federal Pell Grant.

“It’s the grant we never run out of,” said Rod Boettcher, director of financial aid.

“But students need to take the first step,” Boettcher said, “Run, don’t walk, to a computer and go the website and apply.”

Financial aid comes in many forms including, grants, work study, supplemental and alternative grants, and scholarships for the gifted.

Financial aid grants such as Pell Grant, Oregon Opportunity Grants, and federal work-study are available for students in need. Boettcher said that loans, Stafford and alternative (private, federal, and state), have to be repaid whereas grants do not.

Financial aid applicants, as a percentage of credit-enrolled (excluding apprenticeships and audits) MHCC students, total roughly 32 percent, according to Boettcher.

Many students don’t know the right questions to ask. Boettcher said there is a lot of written information available and said every student is different and it’s hard to anticipate every single need. He directs students to read everything they can get their hands on. While the traditional advice in real estate is location, location, the advice in financial aid is read, read, read.

The initial financial aid form is referred to as a FAFSA (Free Application for Student Aid) form. These forms are available on every community counter in the financial aid offices adjacent to student services and also online (www.fafsa.ed.gov/).

“The time is takes to fill out the form(s) is not a horrendous or hard task,” said Boettcher. Look at it this way: Would $400 of free money (the minimum award) be worth about half an hour to an hour to see if you qualify?

Just about every student qualifies for some form of financial aid. It certainly won’t hurt to find out, Boettcher said.

If you qualify, the distribution of Pell Grant funds awarded is based on a graduated scale. The maximum Pell Grant award drops from $4,050 to a minimum of $400 annually and depends on income, assets, and family size, etc., which determines the amount of expected family contribution (EFC), said Boettcher. The lower the EFC is, the less number a student is expected to contribute from their own purse.

Meanwhile, there are many untapped programs for free money for schooling that students may find worthwhile pursuing.

Boettcher explained that the EFC is based on a number of factors including whether you are dependent or independent. If you are dependent, your parents income and family size determine the EFC, whereas if you independent, your income and/or your spouses income, and family size, etc., determine the EFC. What is boils down to is whether you are filing [for taxes] as head of a household, married, or whether your parents are claiming [filing] you as an dependent. Applicants filing for financial aid must have tax documentation available when applying. The sooner you apply the better, since much of it is prioritized on a first come, first served basis; some of the programs have limited funds.

Boettcher pointed out that Pell Grants are available for students applying for as little as one credit. Again, it’s a sliding scale, depending on the applicant’s circumstances, he added. Boettcher compared the Pell Grants to Spandex, adding that the availability of Pell Grants on the national level grows to accommodate the growing demands, and are on a first come first served basis.

According to Boettcher, “The Oregon Opportunity Grants (OOG) administered by the Oregon Student Assistance Commission (OSAC), received $78 million from the Legislature for the current biennium. This program is presently under-utilized. There are more dollars available than student who are filing to take advantage of these dollars.”

Boettcher also said there are other programs like federal work study where student’s awards top out at $4,400 annually ($1,100 per term). While many students may qualify for the maximum number of dollars earned, for a number of unknown reasons, students are not maximizing or utilizing the federal work study fund he said. Don’t let that money go unused. In short, if you don’t work the hours, you don’t receive the funds.

Boettcher suggested students who haven’t filed for financial aid, to take the time to fill out an application today. It’s never to late to file. Remember to ask if there are other financial aid programs which you may qualify for.

Once you file, it’s updated annually at the beginning of the year. For example, if you file today, you’re good for one year and the window overlaps for a period of 18 months.

Students are encouraged to apply no matter where they plan to attend, Boettcher said.