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Financial Aid Required For the Training

published January 29, 2013

By Author - LawCrossing
Published By
( 3 votes, average: 4.3 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.
Post-secondary education of any kind can be quite expensive. However, that's no reason not to go to school; if you are determined to get training, there's financial aid available for you. As much as possible, plan ahead to handle your education costs. The federal government offers student loans and grants, and many states offer financial aid as well. This article will help you figure out ways to pay for your paralegal training.

Your officer resource you information attend. Financial aid in high school, your guidance counselor will be able to help you locate sources of financial aid. If you don't yet know which school you want to attend or are no longer in high school, you can receive information from various lending agencies or educational opportunity centers. It is much easier to undertake this search with a guide. Try your high school counselor-even if you have been out of high school a few years-or the financial aid officer at a school you're considering.


State Aid

Your best source for information about aid that does not come from the federal government-that is, state, school, or private aid-is the financial aid office at your paralegal school. If you want more information on aid available from a particular state, you can contact one of the higher education agencies.

Gathering Financial Records

It's important that you keep good records about all of your finances and your financial aid. Find a place to keep files with all the information you get on various aid programs, and make sure you have a highly visible calendar on which you can note deadlines and other important dates. Keep copies of everything you send to any agency, and include a record of when things were sent.

First, you need to know whose finances are going to determine the aid you receive-yours and your spouse's (if you have one) or yours and your parents. In order to be considered independent of your parents for financial aid purposes, you must meet one of the following requirements:
  • be 25 years old or older
  • be a veteran of the U.S. military
  • be a graduate or professional (that is, post-bachelor's degree) student
  • be married
  • be an orphan or a ward of a court
  • have dependents (other than a spouse)
In some rare cases, a financial aid administrator can adjudge a student independent, even if none of the above categories apply. But this doesn't happen just because your parents won t help you with college costs; it may be the case for students whose parents are, for example, imprisoned or have engaged in documented abuse of the student. If none of these categories apply to you, then you, like most undergraduates, will be considered a dependent of your parents.

Whether you are dependent or independent, the first step toward obtaining your financial aid is filling out the Free Application for Federal Student Aid (FAFSA). You cannot get financial aid if you do not fill out a FAFSA. You can get this form from your high school guidance office, paralegal school financial aid office, the public library, or by calling 800-4-FED-AID. If you have applied for aid in the past, you may only need to file the shorter Renewal FAFSA. If you are independent, you will need to fill out the FAFSA about you and, if you're married, your spouse. If you are dependent, you will provide information about yourself, and your parents will supply information about themselves. Your school's financial aid office can also tell you about any other forms you need to fill out to qualify for state aid or assistance that the school itself sponsors.

It's very important that you fill out the FAFSA-and any other forms-completely and accurately. Make sure that all signatures are included. If the form is incorrect, it will be returned to you, which will delay the processing of your application. And unfortunately, there isn't an unlimited supply of aid; what is available is awarded on a first come, first served basis. After you complete your FAFSA, check it over and make a copy of it. Then send it to the appropriate processor as soon as possible after January I. Note that you must send in the original; photocopies are not accepted. You do not need to have been admitted into an educational program to file a FAFSA. However, you will have to be admitted before you receive any money.

FAFSA Tips

The Financial Aid Office at Metropolitan Community College in Omaha, Nebraska, offers this advice on filling out your FAFSA:
  • Avoid waiting until the last minute to complete financial aid application materials. An early start will leave time to collect and correct information, ask questions, and solve problems.
     
  • Use a pen with black or dark ink or a number 2 pencil. Print clearly and neatly. Do not use correction fluid anywhere on the form.
     
  • Do not use a FAFSA that is torn, crumpled, or stained.
     
  • Write only in the response areas and answer boxes on the form. Shade ovals to indicate correct responses.
     
  • Set aside at least one full afternoon or evening to work on the application.
     
  • Assemble the needed materials ahead of time, including:
  1. the FAFSA and any additional application materials required by the college
     
  2. Social Security number
     
  3. your U.S. income tax return (Form 1040, 1040A, 1040EZ) if you can complete it by early January (if you have not filed your tax return, estimate income on the FAFSA)
     
  4. W-2 forms and other records of money earned
     
  5. current bank statements, mortgage information, and business or farm records; records of medical and dental bills paid in the previous year
     
  6. records of veterans benefits or Social Security payments
     
  7. documentation of untaxed income (AFDC, military allowances, 401k plans, etc.)
  • Work carefully through the application. Follow all directions.
     
  • If there are additional circumstances you feel should be considered, bring the additional information directly to the financial aid office along with the FAFSA. Be sure to put your name and Social Security number at the top of each page.
     
  • Make a list of unanswered questions, and before mailing the application, check to make sure each question has been answered, unless otherwise indicated by the FAFSA instructions.
     
  • Make a photocopy of the completed application materials and keep the work copies of financial statements.
     
  • Bring the completed FAFSA and supporting documents to a campus financial aid office for review.
     
  • Send the original FAFSA (not a photocopy) in the preaddressed envelope in the booklet by first-class mail.
     
  • Do not send any documents or tax forms with the FAFSA.
     
  • Do not use a special mailing service such as registered mail; it will delay processing of your form.
Some funds are limited, so apply and complete your file as soon as possible after January 1. Applications are processed on first-received basis.

In about a month, you will receive your Student Aid Report (SAR). The SAR tells you the amount your family is expected to pay toward your course of study. This is called your expected family contribution (EFC). Make sure the information on the SAR is correct, and if it isn't, make any necessary changes and send it to the address noted on the SAR.

Once you are accepted at a paralegal school, the financial aid office will deter mine your eligibility for aid, based on your FAFSA, and send you a financial aid award letter. This will tell you the amount of aid you have been awarded and the types of aid that make up your aid package. These can include grants, loans, and work-study. If you were accepted by more than one paralegal school, the aid package that each offers, coupled with few other factors, will help you make your final selection.

If you get frustrated and confused by your aid applications, view it philosophically as good practice for work in the legal field. Remember, these regulations were written by lawyers, and lawyers just love abbreviations. When you're finished, throw yourself a party.

Financial Aid Documents

Let's look at some financial aid documents in detail.

Free Application for Federal Student Aid

The FAFSA evaluates your income and assets, and your parents', to arrive at your EFC. The FAFSA is based, for the most part, on information on your income tax forms from last year. Remember, you want to send in your FAFSA as soon after January 1 as possible. If you or your parents have not filed your taxes yet, you can estimate and correct inaccuracies later. Make sure you check all appropriate boxes to be considered for loans, work-study, and grants.

If your parents are divorced, things can get confusing. Parenthood is defined differently in different financial aid situations. For example, the FAFSA should be filled out by the parent with whom you have lived the most during the past 12 months, even if that parent doesn't have legal custody. If you didn't live with either parent, the one who supplied the most financial support should complete the FAFSA. If you haven't received support in the last year, use the most recent year. Remember that your parent needs to report any child support on the FAFSA.

However, in determining "household size" on the FAFSA, you should use the household of the parent who has provided, and will continue to provide, more than half of your support, regardless of where you lived. Often, the parent who should fill out the FAFSA and whose household will determine household size is the parent who has legal custody of you and claimed you as a dependent on his or her tax return. That's not a given, though, and these factors (legal custody and tax dependency) are only used when the other ones are unclear. And this doesn't even include the issue of step-parents, whose income and assets may have to be reported. Read the directions carefully and don't be afraid to ask for help. In order to fill out the FAFSA, gather these records for both you and your parents, for last year:
  • income tax returns, that is, IRS Form 1040, 1040A, or 1040EZ (or an income estimate) and W-2 and 1099 forms
     
  • records of any untaxed income, such as Social Security benefits, child support, welfare, pensions, and veterans benefits
     
  • current bank statements
     
  • mortgage information
     
  • medical and dental expenses (if they weren't covered by health insurance)
     
  • farm and/or business records
     
  • records of any investments, for example, stocks, bonds, mutual funds, certificates of deposit and money market accounts
     
  • Social Security numbers
After you have completed and double-checked your FAFSA-and you and your family are on speaking terms again-make a copy and send it in to the appropriate processor, whose address is on the form. Do this as soon after January 1 as possible, but not before!

Recently, the Department of Education began accepting FAFSA information online, with a program called FAFSA Express. If you have a Windows operating system and a modem, you can contact the Department of Education at http://www.ed.gov/offices/OPE/express.html and fill out your FAFSA online. You will want to print out the Releases and Signatures page of the application, sign it, and send it in. If you don't, you will still receive an SAR, but you will need to sign If you are not an independent student, your parents must provide information on the FAFSA. For various reasons, parents sometimes balk at furnishing this information. They may give you lots of reasons, but often their concern is about keeping the information confidential. Perhaps they don't want an ex-spouse to know about their financial situation; perhaps they don't want you to know. There are all kinds of myths out there about who can receive financial aid and what can result from a determination that you qualify for aid. The bottom line is this: You can't get aid if you don't file a FAFSA. The information on financial aid forms is confidential; it will only be seen by the federal processor and the financial aid officers at the schools you've applied to. If a financial aid officer detects fraud in your FAFSA, he or she is required to report it to the Department of Education (which does not share the information with the IRS). In any other case, the person who provided information for a FAFSA must give express written permission for that information to be released. And even if your parents refuse to help pay for your education, if you're not otherwise independent, you will be considered a dependent student and will need to have a FAFSA on file. Beg, plead, or bribe your parents, whatever it takes to get them to fill out the FAFSA. if they refuse, ask your financial aid officer for help and any alternatives.
  • TI = total income
  • ATI = allowances against total income
  • STX = state and other tax allowance
  • EA = employment allowance
  • IPA = income protection allowance
  • AI = available income
  • CAI = contribution from available income (independent student)
  • DNW = discretionary net worth
  • APA = education savings and asset protection allowance
  • PCA = parents' contribution from assets
  • AAI = adjusted available income
  • TPC = total parents' contribution
  • TSC = total student's contribution
  • PC = parents' contribution
  • SIC = dependent student's income contribution
  • SCA = dependent student's contribution from assets
Grants and Scholarships

Grants and scholarships provide money that doesn't have to be repaid. Two of the largest grant programs are funded by the federal government: the Pell grant program and the Federal Supplemental Educational Opportunity Grant (FSEOG) program. These are need-based grants, reserved for the neediest students. If you qualify for a Pell grant, it will be indicated on your SAR, assuming you checked all the appropriate boxes on the FAFSA.

Pell grants are only available to undergraduate students who have not yet received a bachelor's or professional degree. The amount available to each student depends on the funding for the program; in 1996 the maximum award was less than $2,500. If you receive a Pell grant, your school will either apply the money directly to the cost of your tuition or pay you directly. The school must inform you, in writing, about the amount of your grant and how and when it will be disbursed. Federal Supplemental Educational Opportunity Grants (FSEOG) are awarded to undergraduate students with exceptional financial need. Students who receive Pell grants are given priority for this program. Even if you are attending school less than half time, you can be considered for this grant.

In addition to these federal programs, there are several state grant programs available. The school you are planning to attend may also provide some educational grants. Many scholarships are administered by particular schools. You can get information on these programs from the financial aid officer at your paralegal school or your high school guidance counselor.

Work-Study

The Federal Work-Study Program provides part-time jobs for students who need help in meeting educational costs. The program is designed to provide you, when possible, with work related to your field of study, or community service work. Most work-study jobs are on campus; however, some public agencies or private nonprofit groups have made arrangements to hire work-study students.

If you qualify for work-study, you will be "awarded" the total amount you may earn in a given period-for example, an academic year or a summer award. During the award period, you cannot collect more than your award; nor can you work more than twenty hours a week. Most work-study students are paid hourly, although some graduate students may be paid a salary. In order to receive a work-study job, you must apply and be hired as you would for any other job. The fact that you qualify for work-study doesn't guarantee you a job. The program really helps fund the jobs and determines which students qualify financially to be considered for them. After that, you are on your own.

If you do not qualify for federal work-study, check with the student employment office at your school anyway. There are often non-work-study jobs available for students.

Financial Aid Checklist

There's a wide range of loans, grants, scholarships, and work-study sources. You do not have to have been accepted by a paralegal school to file a FAFSA; you should indicate the programs you are considering. Then your SAR will include COAs for the schools you listed, and you can see what your financial need will be. You can even have each school send you a financial award letter outlining your financial aid package and use that information to help you determine which school you will attend. You will not receive any aid until you have decided which school you will attend. Make sure you notify the financial aid office of any changes in your circumstances as they occur; for example, if you receive a grant or scholarship or your income estimates must be changed. If you keep good records and continually communicate with your financial aid officer, you should be able to locate all the financial aid you need. Use this checklist to keep yourself on track:

FAFSA
  • Get a FAFSA from the financial aid office of the school you plan to attend or one of the schools you are considering. They are also available from public libraries, high school guidance offices, and the U.S. Department of Education.
     
  • Create a financial aid file.
     
  • Gather all the financial records you need-yours, your spouse s, and your parents'-and put them in your file.
     
  • Fill out the FAFSA completely and accurately. Incomplete applications may be rejected.
     
  • Sign and date the completed FAFSA. Do not date it before January 1. _Make a copy of the FAFSA for your financial aid file.
     
  • Mail the FAFSA to the appropriate processor as soon as possible after January 1. Don't put anything extra in the envelope when mailing the FAFSA.
State, School, and Private Applications
  • Fill out all aid applications for state, institutional, and private financial aid. These should be available from your paralegal school's financial aid office, your high school counselor, public libraries, or the state agencies listed above.
     
  • Make a copy of your completed state, institutional, and private aid applications for your financial aid file.
     
  • File all the applications at the appropriate time.
SAR
  • If you have not received your SAR within a month of filing your FAFSA, contact Federal Student Aid Programs, P.O. Box 4038, Washington, DC 52243-4038 or your financial aid office.
     
  • When you receive your SAR, check for inaccuracies, correct any mistakes, and mail to the address indicated.
Verification Items

Some applications are selected for verification, either by the Department of Education or by the school you'll be attending. If yours is, you'll be notified that more information is being requested before any financial aid can be granted. You will receive a verification statement and may be required to provide (these should all be in your financial aid file):
  • Tax returns: yours and your spouse's (if married) prior year's tax returns, including all schedules and attachments, if you're an independent applicant. If you are a dependent student, your parents' prior year's tax returns, with all schedules and attachments.
     
  • Alien Registration Card or other INS documents, if applicable
     
  • Documentation of any untaxed income you reported
     
  • Other documents as requested
Financial Aid Transcript (FAT)
  • If you have recently attended another post-secondary school, your financial aid office may request a FAT for each previous school, even if you didn't receive financial aid at that school. If the financial aid office notifies you that they need a FAT, forms are available at the financial aid office. (Note: FATs are not academic transcripts!)
Updates
  • Notify the financial aid office if your address, marital status, or name changes in the course of the financial aid application process.
     
  • Notify the financial aid office if your financial situation changes or if you receive any aid from outside sources (such as grants or scholarships).
Financial Aid Awards
  • Clarify any information on your financial aid package that you don't understand with the financial aid office.
  • Compare financial aid awards, if you've been considering more than one school.
  • Show Me the Money
  • Complete and file all necessary paperwork to receive your financial aid.
  • Apply for work-study jobs, if applicable.
Finances should never keep you from furthering your education. There is money available, in the form of loans, scholarships, and grants. The financial aid office of your paralegal school is your best resource in the search for financial aid. They keep up on all the federal and state regulations and they know about all the local money sources. The process can be complicated and all the rules, regulations, and deadlines can be daunting, but mastering them is a small price to pay for your future in an exciting career.

published January 29, 2013

By Author - LawCrossing
( 3 votes, average: 4.3 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.