Office of Student Financial Services Newsletter November 2008 Emmanuel College is committed to offering a quality and affordable liberal arts and sciences education to its students. During this particularly challenging economic time, the Office of Student Financial Services is available to work with you on your individual needs and to offer the most current information on scholarships, grants and loans. Additional information is available on the Student Financial Services Conference on the FirstClass e-mail system.
Supplementing Educational Expenses: Scholarships & Grants
Investing in Your Future: Student & Parent Loans
Students and families are looking for creative ways to finance a college education. Make sure you are taking advantage of all the scholarship and grant options available: • Apply for Private Scholarships. Instructions and postings for private scholarships are available on the Student Financial Services Conference on FirstClass. Additional scholarship sources to consider are churches, local organizations, parents’ place of employment, or other clubs to which you or your family belong. Free scholarship search engines, such as www.fastweb.com and www.finaid.org, are excellent resources.
Pursuing a liberal arts and sciences education is a transformative experience. Just as one would borrow to invest in a home, borrowing is a common method of paying for an increasingly valuable higher education. To keep the cost of borrowing down, borrow first with federal loans, including the Federal PLUS Loan for parents, and then borrow with private lenders as needed. Despite media reports, private loans are available through solid lenders, for more information please visit www.emmanuel.edu and click on “Tuition & Aid.”
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Apply for Endowed Scholarships. A number of scholarship funds have been established at Emmanuel College through the generosity of alumni, friends, corporations and foundations. To review the available scholarships, please visit the Endowed Scholarship folder within the Student Financial Services Conference. The application deadline for Endowed Scholarships for the 2009-2010 academic year is March 1, 2009.
Did you know that under certain circumstances, the federal government will cancel all or part of an educational loan? This practice is called loan forgiveness. Loan forgiveness programs can help by canceling some, or all, of your federal student loan debt. If you qualify, loan forgiveness programs can lighten your financial burden. You may be eligible if you: • Engage in volunteer work
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Consider a Resident Assistant (RA) Position. Firstyear RAs receive a 75% discount on room and board and 100% in subsequent years.
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TEACH Grant. Those who pledge to serve at least four years as a full-time teacher in a school serving low-income students are eligible for this $4,000 grant.
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Perform military service
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Teach or practice medicine in certain types of communities
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Meet other criteria specified by the loan forgiveness program
To learn more about the educational and student life opportunities here at Emmanuel, visit our web site at www.emmanuel.edu. To subscribe to the College’s e-newsletter click on the “Subscribe to E-News” link on the homepage.
Apply for Financial Aid for the 2009-2010 Academic Year Any student seeking need-based financial assistance must complete a Free Application for Federal Student Assistance (FAFSA) at www.fafsa.ed.gov beginning January 1, 2009. Completing the application early ensures that you will be considered for all available financial aid. Applications submitted after the March 1, 2009 priority filing date may limit the amount of financial aid available to you as you will be considered on a funds-available basis. FAFSA reminders and hints: •
You must reapply for financial aid each academic year
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List Emmanuel’s School Code (002147) on the FAFSA
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Complete the FAFSA online at www.fafsa.ed.gov for a
To access the Student Financial Services Conference: • Double click on the Conferences icon • Double click on the Student Conferences icon • Double click on Student Administrative Services icon • Double click on the Student Financial Services icon
Saving Money: Your First Steps Toward Financial Independence These money-saving tips will help you take control of your money instead of letting your money take control of you. •
Stay on track to graduate. Extra semesters of college and/or semester overloads can be incredibly costly. Be aware of the courses you need to take to graduate in four years.
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Consider your housing options. Avoid costly single rooms. Also, if you are considering moving offcampus, make sure you factor in all of the expenses that go with apartment living.
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Take advantage of campus activities. There’s always something to do. Attend free movie festivals. Support the sports teams. Attend lecture series. Get the most from your student ID!
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Buy used textbooks. Used textbooks are just as useful as the new ones. You may even end up selling them back at the end of the semester.
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Use the Fenway Card. Many local businesses offer discounts when you pay using your Fenway Card.
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Avoid using credit cards. If you decide you must have a credit card, keep only one major credit card and pay it off every month.
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Work part-time. Take advantage of our great Boston location with one of the many part-time jobs available to students. This is a good way to earn spending money and build your resume.
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Financial Aid and Scholarship Questions: We Have the Answers The Office of Student Financial Services will be offering information sessions in the Jean Yawkey Center on January 27 and 28, 2009 at 6:00 p.m. and January 29, 2009 at noon. Our staff will answer: • How do I apply for financial aid? • What types of financial aid are offered at Emmanuel College? • How do I apply for endowed scholarships? • How do I apply for private scholarships?
More Information: Accessing the Student Financial Services Conference In addition to visiting the Office of Student Financial Services, important information from our office is still accessible at your fingertips! The Student Financial Services Conference on FirstClass has been designed to allow students to find information about financial aid, payment options, scholarships and student employment. Also, every form provided by the Office of Student Financial Services is available for download through this Conference.
Contact the Office of Student Financial Services If you have questions about paying for an Emmanuel education and the options available to assist with the cost of education, please know that the Office of Student Financial Services is available to help you through this process and can be reached by telephone at 617-735-9938, by e-mail at financialservices@emmanuel.edu or in person in room 205 of the Administration Building.