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Published: March 08, 2009 12:48 am
ECONOMY: Where to go?
Economy is affecting college-bound students’ choice of schools
By Joe Olenick E-mail Joe
Lockport Union-Sun & Journal
Lockport High School senior Dan Sciandra wants to attend Hofstra University.
His sister attends a visual arts school in New York City, which isn’t far from Hofstra on Long Island. But there’s a decision for Sciandra and his family to make, because attending Hofstra is expensive.
“They gave me a $5,000 scholarship,” Sciandra said. “But it’s still about $30,000 a year to go there.”
Sciandra said his other choice is the state University at Stony Brook, also on Long Island. Because it’s a state school, it is cheaper than a private university and could require less financial aid. Sciandra has already filed his Free Application for Federal Student Aid, or FAFSA, a form students file to see what federal aid they are eligible for. Results can be sent to multiple schools, who send students what aid they’re entitled to receive. The FAFSA filing deadline is April 1.
Sciandra is waiting to find out his financial aid results and will decide then what school to attend. Most college-bound students are in similar situations and have similar decisions to make.
In the middle of a recession, families could find it harder to pay for college. So does that mean more will attend a less-expensive school? Answers should be on the way, because over the next few weeks, students will find out what they’re getting in financial aid and start committing to schools.
More families may wait, according to Michael Konopski, director of enrollment management at Niagara University. He said folks may not be comfortable with making a decision on a school right now.
“They may wait longer until they have all of their financial information, as they should,” Konopski said. “You may feel differently by April than you feel now, if the market were to improve.”
As a result, there’s no way to know how Niagara’s enrollment will be affected. Because of the financial crisis and families waiting, Konopski said all of the usual signs and barometers of enrollment would have to be thrown out this year.
Jennifer Ginty, a Lockport counselor, said there are a number of things families can do to help decide. First is to check out the counselor’s office at the high school and see what kind of scholarship opportunities there are. Many scholarships are available that most students don’t know about.
“Pursue scholarships,” Ginty said. “A lot of them are local based, some are open to just Lockport students.”
Ginty added that she believes there will be a lot of shuffling between schools for students. Standards for admission are higher, including state schools.
“I think a lot of students are going to NCCC and then transferring to a four-school year,” Ginty said.
Asking questions of a school’s financial aid office is a good idea, Ginty said. Most colleges have different amounts of aid for different factors, such as a program the student is enrolled in. It’s also important to understand there isn’t as much free money available. Students will have to work for what is available and be wary of taking out loans, Ginty said.
Jim Trimboli, director of financial aid at Niagara County Community College, said schools are waiting to see how much money they’ll receive from increase in the Work Study program. About 600 NCCC students take part in the program. He also predicted an increase in enrollment for NCCC, especially with non-traditional students who are returning to school.
“A lot of people are out of work; there’s a greater need for help,” Trimboli said.
He offered some advice for students: File the FAFSA immediately and pay attention to any communication concerning financial aid. Getting your financial house in order is important.
“The last thing a student should worry about on their first day is how they’re going to pay for it,” Trimboli said.
Schools are offering students help. Konopski said Niagara has always been willing to work with students in order to pay for college costs, even offering an estimate on what it would cost to attend Niagara. This year, the school has seen an increase in the number of students, especially current students, who filed a FAFSA earlier and whose financial information now has changed.
“We’ll work with them and with their income situation,” Konopski said.
He added that people need to go through their financial information carefully and should not hesitate to ask questions. Paying a more in-depth visit to schools is also beneficial.
There is more help on the way from the state and federal government. Konopski said Gov. David Paterson’s state budget proposal included the creation of a loan program where students could borrow at a lower rate, instead of the higher rates in the private market.
The National Association of Student Financial Aid Administrators said the federal stimulus, the American Recovery and Reinvestment Act of 2009, provides slightly more than $17 billion to increase the maximum Federal Pell Grant award by $500 to $5,350 in 2009-10 and to $5,550 in 2010-11. The bill also promotes student employment by providing $200 million for the Federal Work Study program and creates a new tax credit that is worth up to $2,500 this year and next. The credit can cover such expenses as tuition, fees and books and encourages use of savings for educational costs by allowing computers to be considered a qualified expense under 529 college savings plans.
But there is one common piece of advice from the experts: Get all the information you can before making a decision.
“Keep asking questions,” Ginty said. “Look for that safety school, then go after that dream school and see what you can do. But be cautious.”
Contact reporter Joe Olenick
at 439-9222, ext. 6241.
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