Recently the financial aid office at William Jewell College was informed that a leading provider of federal Stafford and PLUS loans (FFELP) in the midwest will suspend the origination of FFELP loans. U.S. Bank, the sixth largest FFELP lender in 2008, will continue to accept applications and master promissory notes for school certification through September 26, 2009. WJC students and parents who borrow federal educational loans through U.S. Bank will receive their loan proceeds for this upcoming school year, but will need to select a different lender for disbursements that would take place after September 15, 2010.
The WJC Office of Financial Aid and Scholarship Services will work with our students and parents who may be affected by this change and will counsel those who need direction.
U.S. Bank is one of many lenders who will be considering this move over the next few months as Congress considers student loan reform. President Obama's administration proposes that all federal student loans move to Direct Lending in 2010. This means that all students whose loans are currently with one of many FFELP loan providers will receive their loans directly from the government in 2010. Among many of the benefits that this transition is thought to have is saving tax payers money by terminating the subsidies that are provided for the private institutions participating in FFELP and streamline all sources of Federal Student Aid to one servicing platform.
The WJC financial aid staff is committed to helping our students. If you have any questions or concerns about your loans, please contact us at finaid@william.jewell.edu.
Wednesday, July 15, 2009
Monday, July 6, 2009
Summer Financial Aid Update
The summer is moving quickly and the first day of classes at William Jewell College draws near. Students need to finalize preparations to attend as the first billing statement will be mailed on July 6.
In April 2009 the U.S. Department of Education voted to suspend the 2009 PLUS Loan Auction. This is great news for parent borrowers as it allows parents to select the lending institution of your choice. The WJC financial aid office provides quick access to applications and lender comparisons of the most popular lenders for WJC parents and students at www.jewell.edu/finaid/. Parents who intend to assist their student may apply online at any time and funds will be received no earlier than August 21.
In August, the Missouri Department of Higher Education will publicize the 2009-2010 award amounts for the Access Missouri Grant. With the number of FAFSA filers increased and the number of eligible students increased, it is expected that the annual amount that eligible WJC students receive may be less than what was received in 2008-2009. Financial aid awards currently provide estimated figures that could be slightly different in a month.
The Fall matriculation process will officially open in August and students will need to have setup an installment plan and made their first payment, have paid the balance in full, or have enough financial aid (including federal student and parent loans) that the balance will be paid by the first day of classes to qualify for matriculation. Matriculation allows students to have their ID validated allowing them access to a number of facilities and services on campus.
If parents and/or students have any questions about the financial aid process or award information throughout the summer, please feel free to contact us at finaid@william.jewell.edu.
In April 2009 the U.S. Department of Education voted to suspend the 2009 PLUS Loan Auction. This is great news for parent borrowers as it allows parents to select the lending institution of your choice. The WJC financial aid office provides quick access to applications and lender comparisons of the most popular lenders for WJC parents and students at www.jewell.edu/finaid/. Parents who intend to assist their student may apply online at any time and funds will be received no earlier than August 21.
In August, the Missouri Department of Higher Education will publicize the 2009-2010 award amounts for the Access Missouri Grant. With the number of FAFSA filers increased and the number of eligible students increased, it is expected that the annual amount that eligible WJC students receive may be less than what was received in 2008-2009. Financial aid awards currently provide estimated figures that could be slightly different in a month.
The Fall matriculation process will officially open in August and students will need to have setup an installment plan and made their first payment, have paid the balance in full, or have enough financial aid (including federal student and parent loans) that the balance will be paid by the first day of classes to qualify for matriculation. Matriculation allows students to have their ID validated allowing them access to a number of facilities and services on campus.
If parents and/or students have any questions about the financial aid process or award information throughout the summer, please feel free to contact us at finaid@william.jewell.edu.
Wednesday, March 25, 2009
Federal PLUS Loan Auction for Fall 2009
On April 15, 2009 the U.S. Department of Education will hold a PLUS Loan Auction for new parent borrowers electing to help fund their students education as part of a bill Congress passed in 2007 called Enusring Continued Access to Student Loans Act (ECASLA). Although the PLUS auction will not affect parents who have borrowed a PLUS loan in prior years, many colleges and universities throughout the country have requested that the Department of Education temporarily suspend the auction, if not terminate it. Many colleges in the state of Missouri, including William Jewell College, agree that the auction should be terminated because of fear that parents will have limited options on financing their childs education.
The PLUS Loan auction is essentially a bidding process for lending institutions who wish to acquire new PLUS loan volume. These lenders will submit their bid to the U.S. Department of Education and two lenders will be selected for all 50 states and U.S. provinces. Parents who are borrowing the PLUS loan for the first time will be required to use a lending institution whose bid was accepted by the state where their students school resides. Therefore it is conceivable for parents that have two students going to college in different states will have to borrow from different lending institutions.
Parents who wish to help their students finance their education for the first time beginning July 1, 2009 are encouraged to delay applying for a PLUS loan until more information is available on the state of the auction. During the summer months the WJC financial aid office will provide the necessary information to make a decision that is in the students and parents best interest. Parents who have applied for a PLUS loan for a prior semester are able to apply for the PLUS loan with the lending institution of your choice.
If you have any questions regarding the upcoming PLUS Loan Auction please contact the Office of Financial Aid and Scholarship Services.
The PLUS Loan auction is essentially a bidding process for lending institutions who wish to acquire new PLUS loan volume. These lenders will submit their bid to the U.S. Department of Education and two lenders will be selected for all 50 states and U.S. provinces. Parents who are borrowing the PLUS loan for the first time will be required to use a lending institution whose bid was accepted by the state where their students school resides. Therefore it is conceivable for parents that have two students going to college in different states will have to borrow from different lending institutions.
Parents who wish to help their students finance their education for the first time beginning July 1, 2009 are encouraged to delay applying for a PLUS loan until more information is available on the state of the auction. During the summer months the WJC financial aid office will provide the necessary information to make a decision that is in the students and parents best interest. Parents who have applied for a PLUS loan for a prior semester are able to apply for the PLUS loan with the lending institution of your choice.
If you have any questions regarding the upcoming PLUS Loan Auction please contact the Office of Financial Aid and Scholarship Services.
Thursday, February 5, 2009
Proposed Changes to Access Missouri Grant Program
We want to inform parents of students receiving financial aid from the state of Missouri through the Access Missouri program, that there is a Legislative threat underway that seeks to reduce or perhaps eliminate this tuition assistance for students attending private institutions.
Access Missouri was created to help our state’s neediest students achieve their dreams of a college education by providing up to $4,600 in tuition support to attend any Missouri college or university. Unfortunately, there is a misguided effort to dismantle Access Missouri by eliminating or reducing financial aid to students attending Missouri’s private colleges and universities. This is happening as the state grapples with anticipated budget shortfalls and at a time when students are facing economic hardships of their own. The changes being discussed could eliminate or reduce financial aid to some 15,000 students who rely on Access Missouri assistance. Specifically, Governor Jay Nixon’s budget proposal calls for the reduction of this need-based grant program for students attending private colleges while increasing grants to students attending public sector institutions.
We at William Jewell College remain committed to helping all of our students locate the financial aid that meets their needs and are taking action to protect Access Missouri funding for our students, but we cannot do it alone. We need your help.
It is critical to let the Legislature know that you support keeping Access Missouri available to all Missouri students attending any Missouri college. There is a coalition forming to advocate for keeping Access Missouri funds available to all Missouri students called KeepMeInCollege.org.
Please go online at www.KeepMeInCollege.org to learn more about the coalition and to join us as a member of the statewide grassroots effort to keep Access Missouri available to all Missouri students regardless of college choice.
Thank you for your interest and support of this statewide effort.
Access Missouri was created to help our state’s neediest students achieve their dreams of a college education by providing up to $4,600 in tuition support to attend any Missouri college or university. Unfortunately, there is a misguided effort to dismantle Access Missouri by eliminating or reducing financial aid to students attending Missouri’s private colleges and universities. This is happening as the state grapples with anticipated budget shortfalls and at a time when students are facing economic hardships of their own. The changes being discussed could eliminate or reduce financial aid to some 15,000 students who rely on Access Missouri assistance. Specifically, Governor Jay Nixon’s budget proposal calls for the reduction of this need-based grant program for students attending private colleges while increasing grants to students attending public sector institutions.
We at William Jewell College remain committed to helping all of our students locate the financial aid that meets their needs and are taking action to protect Access Missouri funding for our students, but we cannot do it alone. We need your help.
It is critical to let the Legislature know that you support keeping Access Missouri available to all Missouri students attending any Missouri college. There is a coalition forming to advocate for keeping Access Missouri funds available to all Missouri students called KeepMeInCollege.org.
Please go online at www.KeepMeInCollege.org to learn more about the coalition and to join us as a member of the statewide grassroots effort to keep Access Missouri available to all Missouri students regardless of college choice.
Thank you for your interest and support of this statewide effort.
Tuesday, November 18, 2008
November 2008 News Bulletin: College Scholarship Search
Applying for college scholarships may seem like a never-ending homework assignment, but the rewards can be well worth the time commitment. A free online search engine known as FastWeb is located at http://www.fastweb.com/. You will be able to create a profile about yourself which will match potential scholarships based on your unique profile. Of course, you must take the all-important next step which is to apply. Deadlines vary as do eligibility criteria. It's not too early to begin your search.
Are you interested in participation in a talent area at Jewell? If so, awards are available for art, athletics, debate, journalism, music and theatre. Go to http://www.jewell.edu/ for specific requirements and appliction procedures. Because funds are limited, you must complete and submit the Scholarship Application by March 1, 2009. Note: Talent and co-curricular awards require submission of the FAFSA.
Mark your calendar! The 2009-2010 FAFSA will be available online at http://www.fafsa.ed.gov/ on January 1, 2009. Do you need assistance in completing the FAFSA? If so, consider attending College Goal Sunday at a site near you on Sunday, February 8, 2009. The Missouri site map is located at http://www.collegegoalmissouri.com/ while the Kansas site map can be accessed at http://www.collegegoal.com/. If you are a resident outside these areas, you will want to consult with your high school guidance office to learn of any financial aid workshop opportunities in your area.
Let us partner with you in your scholarship search process. Your William Jewell College Scholarship Coordinator, Mrs. Raschelle Johnston, is a great resource for your first year at Jewell and beyond. She can be reached at (816) 415-5145 or johnstonr@william.jewell.edu.
Don't miss out on scholarship opportunities. Start your search today!
Are you interested in participation in a talent area at Jewell? If so, awards are available for art, athletics, debate, journalism, music and theatre. Go to http://www.jewell.edu/ for specific requirements and appliction procedures. Because funds are limited, you must complete and submit the Scholarship Application by March 1, 2009. Note: Talent and co-curricular awards require submission of the FAFSA.
Mark your calendar! The 2009-2010 FAFSA will be available online at http://www.fafsa.ed.gov/ on January 1, 2009. Do you need assistance in completing the FAFSA? If so, consider attending College Goal Sunday at a site near you on Sunday, February 8, 2009. The Missouri site map is located at http://www.collegegoalmissouri.com/ while the Kansas site map can be accessed at http://www.collegegoal.com/. If you are a resident outside these areas, you will want to consult with your high school guidance office to learn of any financial aid workshop opportunities in your area.
Let us partner with you in your scholarship search process. Your William Jewell College Scholarship Coordinator, Mrs. Raschelle Johnston, is a great resource for your first year at Jewell and beyond. She can be reached at (816) 415-5145 or johnstonr@william.jewell.edu.
Don't miss out on scholarship opportunities. Start your search today!
Tuesday, October 14, 2008
Spring Registration
Jewell's registration process for the Spring 2009 semester will be underway in early November. As a reminder, all student balances must be paid in full before students will be allowed to register. Your My Jewell account will allow you to see if you are able to register at the first available time.
One of the leading factors prohibiting a student from enrolling on time is financial aid. Students are encouraged to either contact us (finaid@william.jewell.edu) or check your balance in My Jewell to see if all of your financial aid has been applied to your account. Many times, loan proceeds have additional requirements before they can be processed or before the bank will send the college money. Other times it simply requires acceptance of a particular award.
These issues can be quickly resolved, so don't let them interfere with enrolling in the classes you want.
One of the leading factors prohibiting a student from enrolling on time is financial aid. Students are encouraged to either contact us (finaid@william.jewell.edu) or check your balance in My Jewell to see if all of your financial aid has been applied to your account. Many times, loan proceeds have additional requirements before they can be processed or before the bank will send the college money. Other times it simply requires acceptance of a particular award.
These issues can be quickly resolved, so don't let them interfere with enrolling in the classes you want.
Monday, October 6, 2008
Economic Rescue Plan's Impact on Financial Aid
Many students and their families may be wondering how President Bush's Economic Rescue Plan (H.R. 1424) will impact their student loans and their ability to pay for college. Although there is still a bit of uncertainty, most are optimistic that it will have little impact.
In fact, the College Cost Reduction and Access Act (H.R. 2669) of 2007, also referred to as CCRAA, gradually cuts interest rates on Federal Subsidized Stafford loans for undergraduate students. Over the next few years, the Federal Subsidized Stafford interest rate will drop from the current 6% to 5.6% beginning July 1, 2009, to 4.5% in 2010 and again to 3.4% in 2011.
One positive provision of H.R. 1424 is the extension for two years the ability of taxpayers to take a deduction for qualified tuition and related expenses.
Questions or concerns can be directed to the Office of Financial Aid and Scholarship Services at finaid@william.jewell.edu.
In fact, the College Cost Reduction and Access Act (H.R. 2669) of 2007, also referred to as CCRAA, gradually cuts interest rates on Federal Subsidized Stafford loans for undergraduate students. Over the next few years, the Federal Subsidized Stafford interest rate will drop from the current 6% to 5.6% beginning July 1, 2009, to 4.5% in 2010 and again to 3.4% in 2011.
One positive provision of H.R. 1424 is the extension for two years the ability of taxpayers to take a deduction for qualified tuition and related expenses.
Questions or concerns can be directed to the Office of Financial Aid and Scholarship Services at finaid@william.jewell.edu.
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