The Financial Aid Merry-Go-Round

The world of financial aid, like the life of a student, is cyclical. Those of us that work in the field view our jobs in cycles; spring is FAFSA time, summer is long hours and prep for the fall, August is last minute reviews and ensuring things are set for incoming students. In the fall we start planning for the next year and by January we're right back where we started the prior spring. Over time, the years begin to blend together and you can't remember if that new regulation took effect last July, the next July or if you're thinking of something else entirely! Throw in one of the busiest legislative and regulatory time periods in my memory and it's been quite an interesting year in the world of financial aid.

Regent is one week away from what the Central Financial Aid Office calls EFT day. It's one of the biggest days of the year for our office, and what happens on that day is one of the key indicators as to how well our processing cycle went in a given year. I'm excited about this fall because our early figures indicate a dramatic increase in the number of students who will be receiving aid by the time classes begin.

Here are a few important things for students to remember as you prepare for the fall term:

* Arrive ready to pay a few of your initial bills
Financial aid can help pay for more than tuition, but it won't be waiting for you if you arrive on campus earlier than the established account refund date. It's recommend you have enough money to cover your first month's rent and to pay for books.

* Complete all requirements in a timely manner
The number one reasons students don't have funds at the start of classes is they either a) register for classes late or b) they have some soft of requirement to complete. It is recommended that you complete all your registration and financial aid requirements at least a week prior to the start of the term.

* You can see missing documents and whether or not your loan has arrived in Genisys
Genisys is there 24/7 to help inform you of the items you need to complete, if your awards have been posted, and whether or not your refund has been produced. (I'll be blogging more about that in the future.)

* Student Account Refunds Begin August 22nd
If you've signed up for direct deposit in Genisys, funds will start being transmitted for arrival on the 22nd. Students must be enrolled at an appropriate level, have all requirements completed, and funds actually arrived by Wednesday August 20th to help ensure funds will be released to their account on the 22nd.



Best wishes for a successful fall term!