Page 41 - UMKC Parent and Family Insider

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File income tax returns on time. Complete the FAFSA as soon as it becomes available.
Maintain a current resumé to keep track of work, extracurricular experiences, academic recognitions, etc.
Cultivate relationships with professors and supervisors and think ahead about whom to ask for letters of recommendation.
NEW SEMESTER
To prep for applying, advise your student to:
Colleges
use the FAFSA when disbursing their own merit aid. Even if your family doesn’t qualify for government aid, your student must complete the FAFSA to be considered for money set aside by the college for its current students.
More inancial advice from Suzanne!
Borrow wisely
To qualify for federal student loans, your student must complete the FAFSA. But before your student signs on the dotted line every year, encourage them to take inventory of their total student loan balance. They should investigate repayment amounts and the rules and regulations about paying back these loans.
For government loans that your student does not have to pay back until graduation but the interest does accrue, encourage them to pay the interest. Even paying a small amount during college will reduce the overall debt at graduation.
Try to avoid taking out private student loans if possible. The rates are higher than government loans and have stricter repayment rules and penalties.
Graduate on time
A recent study conducted by the National Center for Education Statistics found the 6-year graduation rate for irst-time, full-time undergraduate students who started in a four-year program was 60%. Graduating in four years or less can save your student and your family tens of thousands of dollars. You would not only save on tuition, but room and board and other expenses as well.
An on-time graduation also means your student will enter the work force (and begin earning a salary!) sooner rather than later.
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