Show FINANCIAL AID Fact or Fiction By STEVE ASHBY Unknown to a vast majority of students there exists an office on campus dedicated to the purpose of supplying sufficient funds to worthy students The financial aids office headed by Iris Roach counselor is working to provide what funds are available to those students students students stu stu- stu- stu dents whose needs warrant them Attempts have also been initiated to bring to light this service One such method is a put out by the FA office wherein an outline of money available is listed The following information is given in the pamphlet with the intent of informing and guiding those interested in financial aid The State and College sources are as follows State law allows each public institution to waive the tuition tuition tuition tui tui- tui- tui tion of up to 10 percent of its total enrollment each year This award is limited to Utah state residents and is called a Tuition Scholarship The recipient should also be a full- full time student approved for a regular course of study Waivers ers are based on academic excellence except for those awarded through the Educational Talent Search which shall be defined later In order to qualify for a tuition Scholarship an entering Freshman applicant much complete normal admission procedures procedures procedures pro pro- and submit the Utah Scholarship Financial Aid Application to the office of Financial Aids A grade point average of or higher is required While a Financial Aid Application for continuing students must be submitted and anda a grade point average of or high is required for the first two quarters of work as a freshman The Educational Talent Search Project consists of a staff whose duty is to screen scholarship applicants on the basis of an applicants needs which is the criterion The necessary necessary necessary sary forms are available in the ETS office located at the University of Utah Room 1115 Annex Building Salt Lake City UT or office of Financial Aids The tuition Scholarship covers the tuition fee for three quarters However the student must pay his own students' students fees books tools supplies and living expenses Freshmen must reapply for aid during the sophomore year Their deadline for reapplication is April 1 The deadline date for freshman is March 1 The ETS deadline is also April 1 After these deadlines any remaining waivers willbe will willbe willbe be awarded on a first-come first served first-served basis Donations to the colleges college's private scholarship fund make scholarships possible Corporations church groups clubs fraternal and professional organizations and individuals contribute each year to our small but growing scholarship fund While some tuition scholarships go to students in any time full-time program Students Parents and Educators s I must be well informed about federal requirements ts for financial aid There are some scholarships requiring special criteria such as the Sterling Scholar Program scholarship which is awarded to winners and ups runner-ups of state competition There are also several scholarships given each year by various hospitals and nursing homes to students enrolled in one of the nursing programs There also exists a Utah Education fund which is an appropriation marked ear-marked by bythe bythe bythe the Utah State Legislature to aid disadvantaged students This award covers tuition and fees books tools and sup sup- plies Several Minority Scholarships are also given to assist disadvantaged students Another scholarship offered is the Mike Eddy Scholarship awarded each year to an electronics student who attended West High All aforementioned scholarships scholarships scholarships scho scho- require two forms which are the Utah Scholarship Financial Aid and the Scholarship Scholarship Scholarship Scholar Scholar- ship profile form both of which are available in the Financial Financial Financial Finan Finan- cial Aids office in the Administration building All scholar scholar- ships must be in May 1 Forms sent in after this date will be awarded on a chronological and need basis Another existing existing existing exist exist- ing aid is a term short Program which is used to aid students who are temporarily in need of funds They are to tobe tobe tobe be paid back within the Quarter in which they are used Applications may be obtained in the FA Office Federal aid is also available The major criterion for all federal programs is need In order to establish need Utah Technical College uses the College Scholarship Service Once a need is established a package combination of aid sources is put together by the financial aids officer and the is sent an award letter indicating how much aid is available each quarter The total amount awarded cannot exceed the need amount that is The major criterion ion for all Federal Programs is need Another aid program is the National Direct Student Loans available at three percent interest to students who are at least time half-time 7 credit hours Repayment starts ten months after the student leaves school and the payback is 30 plus interest per month until the total is paid back The interest doesn't start to accrue until nine months after the student leaves school The student may borrow up to 1500 in a years time or 2500 over two years The loans are strictly for educationally related expenses and living expenses expenses expenses ex ex- ex- ex they may not be used to buy new or used cars appliances luxuries or to consolidate old debts The qualification qualification qualification is need and if the student or his parents make over per year unless they have several dependent children children children chil chil- dren the student is ineligible for this loan To apply students living at home must have their parents fill out the Parents Parent's Confidential Statement PCS and send it to the College Scholarship Service Independent students who have not resided with their parents for at least 12 months submit a Students Student's Financial Statement to the College Scholarship Service Every student must reapply reapply reapply reap reap- ply each year for all federal programs There is no set deadline however a thirty day waiting period is required from the time the PCS or is submitted submitted submitted submit submit- ted until the award letter is received Another two weeks is needed before the student receives his first check Another consideration is availability of funds By spring quarter most funds have been at least committed if not depleted Applicants will find it highly advantageous to file early A loan similar to is the federally insured student loan except this loaning institution is a private source and the interest rate is 7 percent The federal government pays the interest until nine months after the student leaves school and the first payment is due 12 months after the student leaves school The student may borrow up to 2500 per year if he has that much need Any student adjusted adjusted adjusted ad ad- family income is less than will automatically automatically automatically cally qualify for Federal interest benefits on loans totaling up to 2000 in any academic year Loans can be made up to 2500 with a needs analysis required for the over the 2000 For those students whose parents make more than per year the loan would not be eligible for the interest benefits Applications forms are available at participating participating participating par par- banks credit unions and colleges The Financial Aid Statement must also be filled out and sent to College Scholarship Service where applicable There is no particular lar deadline but it takes at least 45 days from the start of the applications process until a check is received Under the program of college work-study work students may work time part-time during the academic year both on and off campus Salaries range from the minimum wage up to an hour An effort is made to employ students in the area of their training time Full-time work may be had in the summer for students who will attend the next fall Qualifications application and deadlines are identical with those of the program A grant of up to 1500 per year may be given to students who qualify The grant need not be paid back and must be matched with an equal amount of other kinds of financial aid It is designed to go to students who wouldn't be able to attend school otherwise This grant is the Supplemental Educational Opportunity Grant Only students whose parents parents parents par par- are unable to substantially aid them while in school If parents earn over per year it is difficult to qualify unless there are several dependents Application and deadlines are the same as for the program A new program Basic Opportunity Grants A new program Basic Opportunity Grants is designed to help students whose family contribution toward their education education education edu edu- cation and living expenses is less than 1400 per year Many students to be reached are those who have never considered college or been aided before They are entitled as Veterans Veteran's are entitled to their GI benefits to 1400 minus the students expected family contribution or one- one half of the cost of attending the institution whichever is lesser In order to apply a needs analysis system to determine determine determine deter deter- mine the family contribution must be accomplished Forms and information are available from the office of financial aids Post Office and libraries No deadline exists for this grant Please turn to Page 3 00 0 p T A A rt 4 I t A MATH I v u t FINANCIAL AID Factor or Fiction c Continued m ea from Page lAs 1 l As expressed by the financial aids office we never have sufficient funds to completely aid all worthy students who apply Many students apply too late to be helped even though they have great need We Ve desire to help all worthy students but find that we must stretch financial aid dollars S further each year Students parents and educators must be well-informed well about the federal requirements adopted by the Office of Education to insure that needy students have the opportunity to acquire a meaningful education beyond high school |