By Scott Mac Kay
Many delays in the processing of financial aid forms can be avoided by taking a few simple precautions. Following are some of the common mistakes made by students, and some tips from the University of La Verne Office of Financial Aid on how to avoid them.
•Common Mistakes in Applying
Forms have not been signed
Application materials must be signed to be valid. Unsigned documents will be returned for a signature.
Questions left blank
Unless the instructions specifically indicate that a blank is acceptable, provide a response for every item. Use “0,” “n/a” or “none” if it is the best answer.
Information is illegible
Forms that cannot be properly interpreted will be returned for clarification.
Submitted materials that cannot be properly identified
Name and Social Security number must be placed prominently on all materials submitted for financial aid consideration. Pre-printed forms normally have spaces for name and Social Security numbers but letters and copies of other documentation do not.
Applying late
Funds at ULV are awarded using up to three criteria: application date, academic ability and financial “need.” College grade point average determines academic ability. The federal calculation determines financial “need.” Students must determine whether their applications are complete before funds in certain programs are exhausted. Complete and legible forms should be submitted in January and February to guarantee that funds are available. Prompt responses to all requests for information will also speed the process.
Not notifying Financial Aid about address changes
Because the University maintains several different student databases, students should notify the Office of Financial Aid in writing any time their permanent address changes. This is true even if students have already notified the Registrar’s Office or academic department. If student loans have been borrowed, students are also required to notify their lenders in writing any time their permanent address changes until the loan has been completely repaid.
Writing comments on the form
The people hired by the federal center to keypunch the information off forms are instructed to make no judgments. As a result, any messages, notes or explanations put on forms will delay processing.
Not including asset information in Section G
The instructions indicate that certain filers may skip Section G. This is true for federal aid, but asset information must be provided if students are applying for Cal Grants.
•Common Renewal Mistakes
Using last year’s income and asset amounts
Because the form comes with last year’s figures, it may be tempting to carry the amounts forward. While some amounts may not change significantly from year-to-year, many will; some significantly. Students should review each question and determine whether to use last year’s amounts or to develop better estimates.
Not forwarding the information to ULV
Be sure to release the renewal information to the University of La Verne.
Waiting too long for the Renewal FAFSA to arrive in the mail
If one has not received a Renewal FAFSA from the federal processor by Jan. 31, he or she should fill out the FAFSA. In any event, students only need to fill out one or the other, and although some may find one form easier than the other, each asks for the same information.
•Common Mistakes on ULV Forms
Not initialing crossouts and corrections
Applicants must initial all crossouts and corrections in order for the lender and guarantor to be able to accept the application.
Not providing complete information
Every question should be completed. For example, item 6 asks for a driver’s license number and the state of issue. Many students put their license numbers and forget to put CA (for California). Banks and lenders will pend applications which are missing the state designation until provided with the necessary information.
Not including complete reference information
Students must include complete information on two different references, who must live at different addresses. Applicants should use relatives whenever possible. If one does not have two relatives who qualify as references, list friends, business associates or someone with a similar description as relationship to the borrower should be listed.
Putting down the wrong loan amount
The loan amount should be the amount desired, not to exceed the total Federal Subsidized Stafford Loan and the Federal Unsubsidized Stafford Loan for fall and spring combined.
Checking only the subsidized box in item 11
The award letter indicates maximum eligibility for Federal Stafford Loans for the academic year. If a student qualifies for a combination of subsidized and unsubsidized loans, he or she must check both box 11a and box 11b. If students check only one of the two boxes and want to borrow in both programs, the original application can only be used for part of the loan.
