Winter 2008

College-bound seniors and their families are thinking about financial aid at this time of the year. In this issue we offer some tips and resources to help you keep on top of this important process. There’s also a preview of the upcoming Counselor Breakfast (RSVP today) and some ideas for how we can help.

• FAFSA spotlight
• Update on student loans
• Scholarship opportunities
• Counselor breakfast on March 25
• How we can help

FAFSA spotlight

Here are some updates about FAFSA (the Free Application for Federal Student Aid) — the first step for students seeking financial aid:

• Encourage families to file the FAFSA even if they think they won’t qualify for financial assistance. They may underestimate their eligibility or not realize that FAFSA is the starting point for getting money from all types of programs.
• This year the FAFSA PIN (identification number) can be selected and used right away when FAFSA is completed on the Web. Applying for it ahead of time is still recommended though, since the PIN is conditional until the information is verified with the Social Security Administration (usually 1-3 days). The four-digit number enables students or parents to electronically sign the application and access or correct their information.
• There are many advantages to completing the FAFSA online (use the Web worksheet to prepare answers beforehand):
  • Detailed help screens and real-time customer service
  • Built-in error detection to reduce rejected applications
  • Instant access to estimated Expected Family Contribution
  • Verification that the information was transmitted successfully
• A few March and April dates remain for College Goal Sunday, where families who are filling out the FAFSA can receive free information and assistance. Locations are Mendota Heights, Minneapolis, St. Cloud and St. James.

Update on student loans

Students and parents may find that the national credit situation is affecting the cost and availability of student loans. Financial aid officers at our colleges are following this situation and may have specific information for individual family circumstances. The summary in a recent article in FinAid is another source of information.

Scholarship opportunities

• Achieve Scholarship — a one-time award of $1,200 for Minnesota students whose families' adjusted gross income is less than $75,000 and who have completed a series of college-preparatory courses while in high school. The Academic Competitiveness Grant from the federal government has similar academic requirements.
• Robert C. Byrd Honors Scholarship  — $1,500 (renewable for three years) given to approximately 80 Minnesota seniors. Applications are due March 14.
• To find more scholarship possibilities try Fast Web, Mach 25 or Scholarships.com.

Remind students to watch out for scams. No one can “guarantee” grants or scholarships. Families don’t have to pay to get help applying for student aid (it’s available many places). Legitimate organizations rarely charge a processing fee for a scholarship.

Counselor breakfast on March 25

Learn more about our private colleges and universities at the second annual counselor’s breakfast on March 25. There will be brief presentations from each campus followed by networking time for you to visit and connect with college representatives. This event will be at the Northland Inn in Brooklyn Park. Gather for breakfast and networking at 8 a.m., presentations beginning at 8:30 a.m. and a college fair and more networking from 10 to 11 a.m. RSVP as soon as possible to reserve your spot to Monique Korn, 651-228-9061 or colleges@mnprivatecolleges.org.

How we can help

• Contact us for assistance in lining up a representative for an event at your school (representing all of our private colleges or a specific college).
• Use the counselor section of our Web site to discover reasons why students might want to choose our institutions such as our huge variety of majors, varied locations, liberal arts benefits, focus on teaching, sense of community and more.
• Order or download a Counselor Guide.
• Encourage juniors and their parents to put Minnesota Private College Week on their calendars. This year’s event is June 23-27.

Minnesota Private College Council, Fund and Research Foundation
Bremer Tower | 445 Minnesota Street, Suite 500 | St. Paul, MN 55101
651-228-9061 | colleges@mnprivatecolleges.org