Indianapolis – College Goal Sunday 2013, held at 41 sites statewide on February 24, assisted Indiana students and their families in filing the Free Application for Federal Student Aid (FAFSA) and resulted in nearly 2,000 FAFSAs being filed online.

The more than 2,500 students and families who attended the event received free, professional assistance in filling out the FAFSA, the financial aid form required by postsecondary educational institutions nationwide.

Individuals seeking grants, scholarships and loans to attend any college or technical school nationwide are required to submit the FAFSA, which must be received by the federal processor by March 10. In its 24-year history, College Goal Sunday has helped approximately 100,000 Hoosier students and families complete the form.

A total of 560 volunteers helped students and parents complete the FAFSA form at the Sunday afternoon session. These included college financial aid advisors, Twenty-first Century Scholars Program professionals, high school guidance counselors and other community volunteers with financial aid expertise.

“As financial aid professionals, our goal is to make the complicated financial aid process easier for Indiana families,” said Donette Cassman, senior account executive at Sallie Mae, Inc., and College Goal Sunday chairperson. “This year we were pleased that our efforts to reach those students who needed help culminated in an extremely successful event.”

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February 23, 2013
FAFSA deadline nearing
The earlier you start, the better, financial aid officials say

By Dani Palmer
The Herald Bulletin

ANDERSON, Ind. — The FAFSA deadline is right around the corner, and financial aid officials are stressing that it’s time to buckle down and get it done if you plan to go to college next fall.

“For state and federal financial aid, the key is getting the FAFSA done,” said Bill Wozniak, ISM College Planning marketing director.

ISM College Planning offers financial aid workshops, online resources, scholarship tips and heads out to college fairs.

“We want to be out there, active,” Wozniak said. “The clock is definitely ticking.”

The FAFSA (Free Application for Federal Student Aid) deadline is March 10, and any considering going to college should fill it out, he said. Some families think they make too much money for it, which is rarely the case.

“Families disqualify themselves by not filling out the forms,” he said.

Even those in the middle class, who are doing OK but not “making a boatload,” can receive significant aid — whether it be federal or state aid, or the college itself offering the help.

Schools often give out awards based on financial need, Wozniak said, and sometimes they have an early deadline of March 1.

He said there’s often a lot of stress associated with the FAFSA, but that the one from “three, four years ago, 10 years ago, is not the FAFSA now.”

For starters, it’s online, and tax information can be taken directly from the IRS and inserted into the form. Which is why officials stress getting your taxes done.

“It makes the FAFSA so much easier,” Wozniak said.

And the earlier families start preparing for the financial aid process, the better.

Wozniak suggests families start looking into college options and how to save up when a student enters high school.

Actually, the 21st Century Scholars program requires sign-up by eighth grade. It’s a great state program, Wozniak said, as it pays up to four years of a student’s tuition at participating public institutions.

There’s also college saving account plans and private scholarships in addition to the federal and state money.

What worries many students and families is the debt that can accumulate over the years.

Student debt has surpassed credit card debt nationally. According to the Project on Student Debt, graduates across the US in 2011 owed nearly $27,000 on average.

That’s what Austin Frawley, a senior at Pendleton Heights High School, has concerns over. And he said he didn’t really know much about the student aid process.

“This is the first time I’ve done it,” he said. “It’s all new to me.”

Wozniak said some of that debt can sometimes be avoided. For example, students often borrow more than they actually need. While filling out college forms, the family doesn’t have to accept the full amount offered. It can be reduced, he said.

And some students end up choosing a more expensive college for the wrong reasons — a friend is heading there, pictures of the campus draw one in, etc. — when another, less expensive school may actually offer a better program in the desired major.

Then there are those who spend a year or two in the wrong major, getting themselves as much as $10,000 in debt before they realize it.

“This type of planning is skipped by so many families,” Wozniak said.

Frawley and his grandmother, Andrea Maudlin, sought financial aid help at one of the South Madison Community Foundation’s FAFSA Nights at Pendleton Heights High School Wednesday night, and Maudlin said they learned more about the 21st Century Scholars program, like what private schools do and don’t accept it.

They were also given a list of websites for scholarships.

Lisa Floyd, executive director of SMCF, said they want to help “alleviate frustrations.”

The foundation itself offers scholarships and has been hosting day-long workshops at schools around the county that the National Center for College Costs (NCCC) has been on hand for; answering questions and helping families fill out the form and get it submitted.

Last year, Floyd said they reached about 60 students.

Then there’s also online tools like ISM’s student loan game and the NCCC’s college cost calculator.

Dave Murray, president of the NCCC, said the goal should be to file taxes early, families have until May 15 to make corrections on the FAFSA once it’s submitted. So 2011 forms can be used for estimates.

When it comes to the FAFSA process, Wozniak said for parents and teens stressing out to look at it this way: 1. The FAFSA isn’t as bad as it seems. And 2. Having those taxes filed makes it “a piece of cake.”

http://heraldbulletin.com/education/x273850812/FAFSA-deadline-nearing

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As always, ISM promotes educated decision making in the entire process of paying for college. The best way to avoid excessive student loan debt is to plan properly before ever stepping foot on campus.

Click here to hear the entire interview:

ISM on WSBT

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INDIANAPOLIS -
Seventeen-year-old Jeremiah Ward has a lot of tough decisions ahead but one thing that is abundantly clear: college is in his future.

“I’ve been preparing myself my grades are good keeping my GPA up,” said Ward.

His parents, Donna and Beacher Ward have one son already in school and another who will be heading there in a few years.

“I’m very focused on college because I will be going there no matter what because my parents have made that a standard,” said 15-year-old Jeremiah Ward.

Donna Ward says she wants her children to succeed, cost of higher education is a concern with hopes of aid and scholarships on her mind.

“I’ve thought about it since they were little and it’s just one of those things I always try to position them to ask the right questions early on,” she said.

Planning for college involves homework long before a student steps foot on campus. Its that research that can determine not only a school and a major but also how much debt that student will face after graduation.

“No one wants a student to say I have to make a decision at age 17 and never change what I want to do that’s unrealistic. However we can get more students to be more deliberate in comparing how much debt they are going to take with the starting salary or the median salary of the job they are going to get,” said Bill Wozinak with ISM College Planning.

Indiana ranks 11th in the nation for student debt. 63% of the state’s 2011 graduating class had an average of $27,500 dollars in debt which is a thousand dollars higher than the national average.

Being diligent about filling out federal student aid forms on time and seeking out scholarship money is a must says Wozniak.

“We have to get families to focus that front end that free money that is available and do the steps that aren’t hard but you have to go through them to avail yourself to all those dollars that don’t have to be paid back later,” said Wozniak.

That’s exactly what the Ward family is aiming for.

“We have to make sure that they are prepared that they are ready for life and that they have options in life,” said Beacher Ward.

While college won’t be cheap, Ward says his boys can’t afford not to go.

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A higher percentage of graduates is a key to raising average income in the state, while having graduates with a lighter debt burden helps them move on to things like home ownership and other purchases that are currently being limited due to debt.  It all begins with robust college planning and making the best choices possible at the beginning of the college experience.

It is for these reasons that ISM College Planning helps any Hoosier family, free of charge.  All Hoosiers benefit when education grows and debt slows.

Click here to read the entire article

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Student Loan Game Plan helps students understand how over borrowing to pay for college can affect their financial future.  The link to the full article is below, or go to the ISM website to check out the tool!

Under the title, “Student Loan Game Plan helps borrowers be financially responsible“, writer Jill Phillips discusses how students and parents can use the resources available to their advantage, and avoid huge debts when they graduate. Phillips writes:

Student Loan Game Plan, a new online resource launched by ISM College Planning, helps students understand how over borrowing to pay for college can affect their financial future.

 

“By looking at a realistic budget for life after college, students often are more motivated to look for grants and scholarships during college,” Joe Wood, president of ISM, said in a press release.

 

The program compares future salary data along with a student’s current and requested loan amounts to give them personalized feedback.  Users receive an estimated student loan debt-to-income ratio, a measurement that could indicate future financial challenges. Student Loan Game Plan also provides budget options that will help borrowers immediately reduce expenses.

 

“The best loan is no loan at all, but when borrowing is going to be part of how college is funded, Student Loan Game Plan can serve as a wakeup call and eye opener for students to make the best possible choices,” Wood said.

For more information visit www.ISMCollegePlanning.org.

Visit the Indy Star page for the complete story.

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We have help for students and families, as well as guidance counselors and anyone who helps students learn about the important steps to fund college in the best way possible.  The steps to make the best decisions are not difficult, but skipping one or two may lead to a LOT more debt than you are comfortable with.

Please take a look around the site, and send us an email or give us a call with any question you have about paying for college wisely.  Welcome!

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