Spring Break
Stimulus bill provides help to students through more federal aid
By: Jane Lee
Issue date: 3/11/09 Section: News
With the buzz of President Barack Obama's economic stimulus bill, college students can use the increase in Free Application for Federal Student Aid (FAFSA) funding to take advantage of the government's help solving the financial crisis.
One way is through the increase of funding in FAFSA for the 2009-2010 academic school year.
The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education to determine Expected Family Contribution (EFC) by conducting a "need analysis" based on financial information such as income, assets and other household information, which students, and their parents, will be asked to provide. With this information, students will receive a set amount of financial aid through means of grants, loans and work studies.
The stimulus bill will help FAFSA by targeting an estimated $15.6 billion for the Pell Grant, in which each student eligible will receive an increase of $500; the maximum award allotment jumping from $4,850 to $5,350.
The Bill will input $490 million for the work-study program. With the minimum wage increasing, the program will allot more money to each student worker.
"The work-study allows students to work to earn their financial aid," said Joseph P. Pettibon II, assistant provost at the Scholarship and Financial Aid Office. "The incredible benefit of the program is that three-fourths of the paycheck comes from the work study program and the other one-fourth is from the employer."
A benefit from accepting the work-study program is the income made will be excluded from the next year's FAFSA application, allowing the student to be more eligible for financial aid.
Loan amounts will be aided by the stimulus bill with an increase by $2,000.
Pettibon stressed that applying for FAFSA is important and easy.
"The application is free, very user friendly, and there's no reason for not trying. In Texas A&M, 80 percent of its students are on some sort of financial assistance, majority being from FAFSA," Pettibon said.
Pettibon said applications should be in by the priority date, March 31.
"I get my application done every year by February," said Joaquin Villegas, a senior biology major, "and I receive a significant amount of more financial aid than my friends who have the same income as me that apply after priority date."
Pettibon said students should use the resources provided by the Scholarships and Financial Aid Office.
"We are always open to students with questions and those who need help in applying for their FAFSA," Pettibon said. "There are financial aid advisors available who can meet with you personally and securely help you with your application."
Sally Jung, a sophomore business major said the office is helpful and has trustworthy advisers who can be trusted with personal information.
"Sometimes I can't go to the office in person," Jung said, "so the advisers being accessible by phone is a great resource."
To apply
For more information on FAFSA, go to www.FAFSA.gov or The Office of Scholarships and Financial Aid, located on the second floor of the Pavilion.
One way is through the increase of funding in FAFSA for the 2009-2010 academic school year.
The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education to determine Expected Family Contribution (EFC) by conducting a "need analysis" based on financial information such as income, assets and other household information, which students, and their parents, will be asked to provide. With this information, students will receive a set amount of financial aid through means of grants, loans and work studies.
The stimulus bill will help FAFSA by targeting an estimated $15.6 billion for the Pell Grant, in which each student eligible will receive an increase of $500; the maximum award allotment jumping from $4,850 to $5,350.
The Bill will input $490 million for the work-study program. With the minimum wage increasing, the program will allot more money to each student worker.
"The work-study allows students to work to earn their financial aid," said Joseph P. Pettibon II, assistant provost at the Scholarship and Financial Aid Office. "The incredible benefit of the program is that three-fourths of the paycheck comes from the work study program and the other one-fourth is from the employer."
A benefit from accepting the work-study program is the income made will be excluded from the next year's FAFSA application, allowing the student to be more eligible for financial aid.
Loan amounts will be aided by the stimulus bill with an increase by $2,000.
Pettibon stressed that applying for FAFSA is important and easy.
"The application is free, very user friendly, and there's no reason for not trying. In Texas A&M, 80 percent of its students are on some sort of financial assistance, majority being from FAFSA," Pettibon said.
Pettibon said applications should be in by the priority date, March 31.
"I get my application done every year by February," said Joaquin Villegas, a senior biology major, "and I receive a significant amount of more financial aid than my friends who have the same income as me that apply after priority date."
Pettibon said students should use the resources provided by the Scholarships and Financial Aid Office.
"We are always open to students with questions and those who need help in applying for their FAFSA," Pettibon said. "There are financial aid advisors available who can meet with you personally and securely help you with your application."
Sally Jung, a sophomore business major said the office is helpful and has trustworthy advisers who can be trusted with personal information.
"Sometimes I can't go to the office in person," Jung said, "so the advisers being accessible by phone is a great resource."
To apply
For more information on FAFSA, go to www.FAFSA.gov or The Office of Scholarships and Financial Aid, located on the second floor of the Pavilion.
Be sure to include your name, major, and class year. Submissions without this information are subject to deletion.
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