Past News and Announcements
Tips for Completing the 2009-10 FAFSA
December 8, 2008
THERE IS NO FEE TO FILL OUT THE FAFSA, it is a free application for federal student aid.
Be sure to have all of the required information available when you are ready to complete the Free Application for Federal Student Aid (FAFSA). You can print a helpful FAFSA Checklist. If you do not have your or your parent's/s' tax information available, you can use estimated figures to complete your FAFSA and go back and enter the exact figures later.
Tip: It is best to use exact tax figures from completed returns, if possible.
You and one parent will need to sign the FAFSA. You can do this electronically with Federal Student Aid Personal Identification Number (PIN), or you can print and mail a signature page after you have completed the FAFSA online.
Tip: Once you receive your PIN, keep it in a safe place, as you may need it to sign other financial aid documents.
Before submitting your FAFSA online, take a few minutes to review it to ensure that all of the information you reported is correct and accurate.
Tip: Some common mistakes include errors in Social Security Numbers, dates of birth, and tax figures. Take a few minutes to double check your information - it can save you a great deal of time later!
Reminder: Santa Clara University school code is 001326.
Watch for Your Renewal Reminder from the U.S. Dept. of Education
November 21, 2008
Each year in late fall, the federal processor sends Renewal Reminders to renewal eligible students to let you know that you can reapply for federal student aid using a Renewal FAFSA through FAFSA on the Web. Benefits of the Renewal FAFSA, it is faster and easier to fill out! The information fields from last year are already completed — just make any corrections and changes for the new year.
Two types of Renewal Reminders:
- Renewal Reminder Emails are sent to most applicants who have previously received a Federal Student Aid PIN and provided a correct e-mail address.
- Federal Student Aid PIN Mailer Renewal Reminders are mailed via USPS to most applicants who did not provide an e-mail address on their previous-year’s FAFSA. Pin Mailers Reminders are sent to students’ permanent home mailing addresses with their Federal Student Aid PINs, which they can use to access the Renewal Application through FAFSA on the Web.
To Get Your Renewal Reminder:
- Make sure you have a good Social Security Number on file.
- Make sure your 2009-10 Renewal Reminder goes to your correct address. Take time now to update your e-mail address, mailing address, and other contact information at the FAFSA on the Web site or call 1-800-4-FED-AID for questions.
U.S. Department of Education Creates New Web site
October 30, 2008
"Whether you are a parent or a counselor, you dream big for kids in you life - dreams that may well include a college education. But it is no secret that times are tough these days and finding a way to pay for college - not to mention encouraging students to reach for the stars in sprite of the obstacles - can be a challenge."
"That is why the U.S. Department of Education created www.college.gov. In one-easy-to-use, fun and interactive Web site, students can create their own personal 'road map' for preparing for college. From choosing a career and selecting a school, to learning how to apply for a financial aid to make it possible, students will find it at www.college.gov." *
* From the U.S. Department of Education College.Gov, I'm Going [Z-Fold Brochure]
Student Loans: Avoiding Deceptive Offers
September 3, 2008
Private companies may offer you loans and other forms of financial assistance for your education. They often use direct mail marketing, telemarketing, television, radio and online advertising to promote their products.
Paying for your education is a serious long-term financial obligation; that is why comparing the cost of different way of financing your education is so important. Private loans tend to have higher fees and interest rates than federal government loans. Private loans also do not offer the opportunities for cancellation or loan forgiveness that are available on may federal loan programs. So it makes good financial sense to exhaust your federal loan options (as well as grants and scholarships) before considering loans from any private companies.
If you are considering a private student loan, it is important to know whom you are doing business with and the terms of the loan. The Federal Trade Commission and U.S. Department of Education offer these tips to help you recognize questionable claims and practices related to private student loans.
- Some private lenders and their marketers use names, seals, logos or other representations similar to those of government agencies to create false or misleading impression that they are part of or affiliated with the federal government and its student loan programs.
- The U.S. Department of Education does not send advertisements or mailers, or otherwise solicit consumers to borrow money. If you receive a student loan solicitation, it is not from the U.S. Department of Education.
- Do not let promotions or incentives like gift cards, credit cards and sweepstakes prizes divert you from assessing whether the key terms of the loan are reasonable.
- Do not give out personal information on the phone, through the mail or over the Internet unless you know with whom you are dealing. Private student loan lenders typically ask your student account number — often your Social Security Number (SSN) or your Student Personal Identification Number (PIN) — saying they need it to help who purport to be private student lenders can misuse this information, it is critical to provide it or other personal information only if you have confidence in the private student lender with whom you are dealing.
- Check out the track record of the particular private student lenders with your state Attorney General, your local consumer protection agency and the Better Business Bureau.
New TEACH Grant Program began July 1
August 4, 2008
The U.S. Department of Education launches the Teacher Education Assistance for College and Higher Education Grant (TEACH Grant) program, which provides grant funds to post-secondary students who are completing or plan to complete coursework that is needed to begin a career in teaching, and who agree to serve for at least four years as a full time, highly qualified teacher in a high-need field, in a school serving low-income students.
Eligible full time students may receive $4,000 per year in TEACH Grant funds, up to a maximum of $16,000 for undergraduate and post-baccalaureate study, and $8,000 for graduate study.
If you receive a TEACH Grant, but do not complete the required four years of teaching serve within eight years after completing the coursework for which you received the grant, or if you otherwise do not meet the requirements of the TEACH Grant program, all TEACH Grant funds that you received will be converted to a William D. Ford Federal Direct Loan - Unsubsidized that you must repay in full, with interest, to the U.S. Department of Education. Once a TEACH is converted to a loan, it cannot be converted back to a grant.
You must sign an Agreement to Service (ATS) each year before receiving a TEACH Grant. The ATS is a legally binding document that defines that teaching service obligations you must meet and specifies your repayment obligations if a TEACH Grant that your receive is converted to a William D. Ford Federal Direct Loan - Unsubsidized.
By signing the ATS you promise to meet the teaching service requirements of the TEACH Grant and to repay with interest the full amount of any TEACH Grant that is converted to a William D. Ford Federal Direct Loan - Unsubsidized if you do not meet those requirements.
For purposes of the TEACH Grant program, a low-income school is a public or private elementary or secondary school that is listed in the U.S. Department of Education's Annual Directory of Designated Low-Income Schools for Teacher Cancellation of Benefits.
You can visit www.studentaid.ed.gov for more information on the TEACH Grant or contact our office.
Regulatory Changes for Financial Aid
July 22, 2008
On May 8, 2008, the Ensuring Continued Access to Student Loans Act was signed into law (HR 5715). The bill makes significant changes to federal student aid programs, including several that could help Santa Clara University student and parent loan borrowers this fall.
The law makes these federal student aid changes effective July 1, 2008:
- Increases William D. Ford Federal Direct Loan – Unsubsidized limit for dependent students by introducing additional unsubsidized amounts of $2,000;
- Increases William D. Ford Federal Direct Loan – Unsubsidized annual limits by $2,000 for independent undergraduate students and for dependent undergraduate students whose parents are denied a Federal PLUS Loan;
- Allows parents to choose to defer payments on a Federal PLUS Loan until six months after the date the student ceases to be enrolled at least half time; accrued interest could either be paid by the parent borrower monthly or quarterly or be capitalized quarterly.
- Increases aggregate loan amounts for undergraduate dependent students from $23,000 to $31,000;
- Increases aggregate loan amounts for undergraduate independent students from $46,000 to $57,500
For more information about the new law, please visit the following Web site.
ECMC's FAB program launches new financial literacy Web site
June 10, 2008
Educational Credit Management Corporation (ECMC) announced their launch of their new financial literacy Web site. Financial Awareness Basics (FAB), ECMC’s financial literacy program, developed the Web site to help students of all ages and their families prepare for post-secondary education.
Through online tools, resources and financial calculators, the interactive FAB site helps users discover ways to pay for college costs, learn how to make informed financial decisions and maintain a healthy balance between academics and campus life.
Visit the new FAB Web site at www.ecmc.org/fab.
New Federal TEACH Grant
May 27, 2008
Santa Clara University will participate in the Teacher Education Assistance for College and Higher Education (TEACH) Grant program beginning with the 2008-2009 academic year.
Final regulations regarding this grant program have not been published by the U.S. Department of Education, and are expected mid-June.The TEACH Grant Program will revert to a loan if the recipient does not fulfill the federally required teaching obligations as fully explained in the U.S. Department of Education information. Read this information carefully before making a decision to accept a TEACH Grant.
Additional Loan Financing Options
May 22, 2008
Looking for additional loan financing options to help fund your education? Check out GreenNote. A new innovative alternative to private alternative educational loans is provided through GreenNote, a company that helps students connect with their own social networks for help financing their college education.
Private Scholarship Tips
April 21, 2008
If I had to tell you in a very short amount of time the most effective things you could be doing to boost your scholarship search efforts, they would be as follows:
- Commit a day a week to find and apply for scholarships. One of the easiest ways to sabotage yourself is to not set up a routine or a schedule. You will put off your scholarship search until it is too late. Instead, pick a day of the week, like every Sunday, and make a commitment that by sundown, you will have found three new scholarships to apply for and have filed applications for them.
- Learn to harness the power of Internet. The Internet is probably the most powerful tool you can use to find scholarships. Search Web sites like Google and Yahoo, require a little bit of learning in order to get the most out of them. But when you do, the value they can deliver is immeasurable. The more specific you can be in your scholarship searches, the better the results will be.
- Search SCU Financial Aid Web site and/or visit the SCU Financial Aid Office. The SCU Financial Aid Office is full of not only scholarship resources, but also financial aid administrators, some of whom have decades of experience in helping students.
- Expect rejection and do not take it personally. Keep going!
Federal Stafford Loans for Summer Term 2008 – Deadline to Request Loan Funds is May 15, 2008
March 17, 2008
Attention Graduate Students!:
Are you interested in receiving a Federal Stafford Loan for the summer 2008 term? Do you have remaining eligibility in the 2007-08 academic year to borrow additional Federal Stafford Loans? In order to receive a Federal Stafford Loan for the summer 2008 term, you must submit a written request to the SCU Financial Aid Office by May 15, 2008. If you have questions about financial aid for summer term, please contact the SCU Financial Aid Office at (408) 554-4505 or financialaid@scu.edu.
Access to Student Loan Capital for SCU Students
February 29, 2008 – Revised March 13, 2008
Santa Clara University students – undergraduates, graduates and law – will have adequate access to student loan funds for the 2008-09 academic year. You may have seen several recent stories in the press about how the U.S. capital market has been experiencing stress as a result of the sub-prime mortgage crisis and how this impacted the ability of some lenders to finance their student lending activity.
Santa Clara University wants to reassure you that adequate student loan capital will be available to every SCU student who qualifies. As a participant in the William D. Ford Federal Direct Loan program, the University’s access to student loan capital will not be affected for undergraduate students, graduate students or law students. Please visit Loan section of our Web site for complete details regarding the William D. Ford Federal Direct Loan program. Also, we expect more than an adequate supply of lenders to remain in the Federal Graduate PLUS Loan program to meet the needs of graduate and law students. Students who are seeking private market loans might find a tightening of eligibility criteria and available lenders. If you experience such a problem please contact the SCU Financial Aid Office for assistance. Please remember that you should never seek private loan funding without having first determined your full eligibility for federal need-based student loans.
FAFSA Tips
February 13, 2008
Before beginning the FAFSA, you should apply for a Federal Student Aid personal identification number (PIN) at www.pin.ed.gov. The PIN will allow you to sign your FAFSA electronically and later to access your processed FAFSA online. After you receive the PIN assigned to you, we recommend you change it to something easy to remember. Do not share your PIN with anyone! If you are providing parent information on the FAFSA, one of your parents also must sign your application. To sign electronically, your parent must apply for his or her own PIN.
Gather the Information Required to Apply
- Your Social Security number and your parents’ Social Security numbers, if you are providing parent information.
- Your driver’s license number if you have one.
- Your Alien Registration Number if you are not a U.S. citizen.
- Federal tax information or tax returns, including W-2 information, for yourself, for your spouse if you are married and for your parents, if you are providing parent information, using income records for the year prior to the academic year for which you are applying.
- Records of untaxed income (such as Social Security benefits, Temporary Assistance for Needy Families [TANF] benefits and veterans benefits) and information on savings, investments and business and farm assets for yourself (and for your parents if you are providing parent information)
Use the FAFSA on the Web Worksheet
Santa Clara University has copies of the worksheet, or you can print one from www.fafsa.ed.gov. This worksheet is optional, but it will help you collect the information you need to fill out your FAFSA online.
Complete and Submit your Application
Enter all necessary information at www.fafsa.ed.gov. If you need help, there are help links on each page of the online application. After you submit your application, make sure you receive a confirmation number. This number tells you your application has been successfully submitted. Keep this confirmation number for your records.
Follow up on your FAFSA
Your application will be processed and you will receive an e-mail with a link to your Student Aid Report (SAR). If you did not provide an e-mail address, you will receive your SAR by mail. You should review your SAR for any necessary corrections or updates. If you do not hear from the U.S. Department of Education within three weeks, go to www.fafsa.ed.gov and select: “Check status of a submitted FAFSA or Print Signature Page.
Direct to Consumer Loans
January 30, 2008
As a result of recent legislative action, several student loan lenders have decided to increase efforts to get students/parents to use private loans to finance a college education. Some of these lenders are well established in the student lending industry, while others are unknown. There are several things you must keep in mind:
- Direct to Consumer loans typically do not require school certification, however if the school is aware of the loan it must include the amount as a resource which may adversely affect your aid.
- Direct to Consumer loans are considered high risk even for the lenders who make the loans because there is no confirmation of enrollment, purpose of loan or the amount actually needed.
- Direct to Consumer loans have a higher fees and higher interest rates than other loan products.
- Even with reputable lenders, direct to consumer loans will cost the student more than the same loan product which the school certifies for the student.
- Direct to Consumer loans will have a negative impact on a credit score and could impact future student loan borrowing (non-federal loans).
Many students need to utilize loans to cover the cost of their education. It is important to make sure that you utilize federal and state loans first, since they offer interest rates and repayment terms which are more favorable. However should you need to borrow from other resources it is important to make sure you are receiving the lowest rates and fees which are available to you.
EdFund Updates Higher Education Tax Benefits Flyer
December 28, 2007
The holidays are almost over. It is time to think about filing taxes again! But EdFund is making it easier with an update of the flyer, Federal Tax Benefits at a Glance: A Guide for Students and Parents. This is a one-page sheet summarizing information on taking advantage of tax credits, deductions and savings incentives/tax-free withdrawals for Tax Year 2007.
"Real-Time" PIN Available for 2008-09 FAFSA
November 19, 2007
Beginning January 1, 2008, students and parents will be able to apply for and receive a "real-time" PIN when completing a FAFSA on the Web or when applying for a PIN on the U.S. Department of Education PIN Web site. After determining that 97 percent of PIN applicants provide correct information (i.e. social security number), the U.S. Department Education decided to make this "real-time" PIN available not only for first-time PIN applicants, but also for those whom have lost or forgotten a previous PIN.
Families Affected by the Southern California Fires
October 26, 2007
The Santa Clara University community is united in our thoughts and prayers for those families whose homes, lives and communities have been affected by the wildfires in Southern California
Our Enrollment Management staff is particularly aware that Early Action applicants might be experiencing additional anxiety in light of the November1 deadline. If your family or school is in an area directly affected by the fires, submit your admission and financial aid application materials as soon as you are able and the admission and financial aid staff will be as flexible in allowing deadline extensions. If you need additional assistance, please contact the Admission Office at (408) 554-4700.
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