CAPlus Monthly - Feb/Mar

February is National Financial Aid Awareness Month, and we want to remind you that you need to file your FAFSA (Free Application for Federal Student Aid)!

In order for students to receive need-based financial aid from the government or the state, they must fill out this application by June 30. If you wait until then, however, you may be out of luck. Don't even wait until April 15, when your taxes are due. We suggest having filed your FAFSA online by the end of March (at the latest). The sooner you file, the better off you'll be.

Parents and students should have received all of their W-2 forms and work information by now.

Use this information to fill out your tax forms and your FAFSA at the same time; it will save you time and money. Once you complete your taxes, log onto the FAFSA website and file.

Once you have finished your taxes and FAFSA form, make sure that your FAFSA accurately represents your financial situation. Mistakes on the FAFSA can be costly, especially if you over-estimate your assets. If you enter a birth date or Social Security number incorrectly, your form may be delayed for several days or even weeks. If you are a CAPlus client, ask your CAPlus representative to review your FAFSA before you submit it.

If you have a student in college and have already filed a FAFSA in a previous year, you will need to file again. You must file a FAFSA each year with your updated financial information.

There are some new questions on this year's version of the FAFSA, and the government has changed some policies. 529 college savings plan assets owned by the student are not factored into the formula this year because of a Congressional drafting error. Also, family-owned businesses are no longer counted as assets.

Once you fill out the form, you will receive a student aid report (SAR), which shows your expected family contribution (EFC). If the number is higher than you expected, mention it to your CAPlus representative and he or she will look over the form with you. Also, many types of financial aid are merit-based and have nothing to do with your amount of financial need.

CAPlus news

College Assistance Plus is franchising! Visit our franchise website to read more about this exciting adventure. If you or someone you know is interested in this new opportunity, email franchise@collegeassistanceplus.com.

High school sophomores

If you know any high school seniors or parents of seniors, you might notice that they seem stressed. College selection is a stressful process for both students and parents, and it can drive a wedge in between family members. The sooner you begin the process for yourself, the easier it will be down the road. Look at colleges. Think about where the student might want to be and what he or she wants to do. Save money. But remember not to panic. You have a lot of time, but it is good to get the ball rolling to take some of the pressure off yourself later.

Students should keep up their grades! A strong GPA in underclass years will often be rewarded with college grants, free scholarships, and other educational grants.

Students need to continue studying for the SAT and ACT tests for at least one hour a week. It is important to treat this test as homework to ensure that the student receives the highest score possible. Colleges often knock down tuition prices by thousands of dollars depending on SAT/ACT scores. The software that College Assistance Plus provides is very helpful in preparing for these tests. You can also take advantage of our exclusive offer of 10% off the Grammatix SAT study guide by clicking here!

If your student is active in community work or volunteer projects with adults, it may be a good idea to ask for recommendation letters now. Getting a head start is a great idea, and it is important to get recommendations from people while the experiences are still fresh in their minds.

Top athletic students should make sure to compile video highlights of their games and to keep together any newspaper clippings about themselves. Most student athletes won't get a full ride to college, but they can pick up a few thousand dollars at many schools if they have the talent (and if their talent is well-documented!).

If career profiling is available to your student through the high school guidance office, take advantage of it! Attend college fairs at schools and local malls. Begin searching for colleges now, because it will make your life much less stressful in the upcoming years.

Parents need to move qualified assets into non-qualified accounts. This is an important strategy to help you receive more financial aid than you may have thought possible. If your assets are exposed to either the federal or institutional methodology, you can reduce the amount you have to pay by altering the title or moving the assets into non-qualified accounts. Be careful to properly and legally implement these movements. See your financial advisor or CAPlus representative for assistance in this process.

High school juniors

If you know any high school seniors or parents of seniors, you might notice that they seem stressed. College selection is a stressful process for both students and parents, and it can drive a wedge in between family members. The sooner you begin the process for yourself, the easier it will be down the road. Look at colleges. Think about where the student might want to be and what he or she wants to do. Save money. You have time left, but you need to be thinking about this now. If you don't, you will end up panicked and stressed during your senior year.

Continue studying for SAT/ACT tests. Focusing on doing well in these tests and in school will help enhance your chances of receiving a good financial package. Depending on the SAT or ACT scores, colleges often knock thousands of dollars off the price of tuition for certain students. The study software that College Assistance Plus provides is very helpful in preparing for these tests. You can also take advantage of our exclusive offer of 10% off the Grammatix SAT study guide by clicking here!

Don't blindly follow every bit of advice from your high school guidance counselor without exploring other options. Guidance counselors are often overworked and have more students to help than they have time for. More often than not, they don't have the time to get to know your student personally, even if they would like to. They are not privy to your financial information, so they cannot advise you based on your financial situation. It is good to talk to the guidance counselor, but be sure that you keep an open ear to your CAPlus representative as well.

If you plan to take the ACT, register now for the April 14 exam. Registration is due by March 9, and late registration (which requires a late fee) is accepted until March 23rd. The next SAT exam is March 10; regular registration is due by February 2, and late registration is due February 14th. The next SAT exam is May 5; regular registration is due April 3, and late registration is due April 11th. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites near you.

You should identify schools where the student is in the top 25% of the admitting freshman class. If you want to increase your chances of receiving more scholarships/aid, find schools where the student is in the top 20%. Students in this category tend to receive more free college scholarship/grant money and need less money from student loans. Look on your CAPlus Junior/Senior Guide for more information on this subject.

Continue to refine your lists of potential colleges. Contact the admissions and financial aid offices at any colleges in which you are interested so that you can get information now on admission, scholarships, and financial aid.

Talk with your parents about the colleges in which you are interested; parents often have wise insights and suggestions.

Athletes who play spring sports (such as track and field, baseball, softball, etc.) should be compiling photographs and video clips of themselves from the current season. By the time you are a senior and participating in the sport, you will have already made your college decision. Now is the time to emphasize what you have done in the sport.

In order to stay ahead of the game, juniors should be continuing to work on lists of colleges that they may want to attend. Collect information about the application procedures, entrance requirements, tuition and fees, room and board costs, student activities, course offerings, and financial aid from the colleges you are interested in. The Internet is a great way to find this information. Begin comparing schools by factors that you find most important.

Stay focused on schoolwork during the end of the fall semester. Junior-year grades are especially important because they show to the college what kind of work the student can do in advanced, upper-level courses. Grades are also used to determine scholarship and grant eligibility.

High school seniors

Students should have finished filling out applications for colleges by now, or they should be close to having applied to every school they are interested in. Many schools have deadlines in March and April, though most selective schools' deadlines are in January and February. If you have missed deadlines, look for colleges with later deadlines to which you can apply. We suggest applying to six or more of your favorite colleges so you have a lot of financial options.

If you have not yet filed your FAFSA, spend one or two hours now and do it. You should have received all W-2 forms and information by now. If you already filed based on last year's numbers, go back to the website (or fill out the corrections report) and correct the information.

By now the due dates for recommendation letters may be approaching. Recommendations are very important when applying to colleges, so be sure to ask for recommendation letters if you know they have not yet been sent to the school. This is an important step in the application process! If the person who is writing the letter does not turn it in on time, you do have the right to ask them about it. It is also appropriate to tell the person writing the letter what you have already told the college and what you hope to see in his or her letter. This often gives the writer a strong foundation on which to write.

Follow up with colleges to which you have applied in order to make sure that they have received all application information, including your FAFSA, recommendation letters, and test scores.

If students are not happy with their previous SAT/ACT scores, register to retake these tests. The highest combination of scores is always used, so taking the tests again won't hurt. If you plan to take the ACT, register now for the April 14 exam. Registration is due by March 9, and late registration (which requires a late fee) is accepted until March 23rd.

The next SAT exam is March 10; regular registration is due by February 2, and late registration is due February 14th. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites near you.

CAPlus clients who are preparing for the SAT exam are eligible to receive a special discount on Grammatix, a study program that helps students develop unique test-taking skills and strategies. To get this 10% discount through CAPlus, click here.

Students should meet with their guidance counselors to discuss their college plans. Go over previous SAT and ACT scores to determine if you should retake either of these tests. Discuss whether the colleges you want to apply to are appropriate, considering your academic and personal records. Request that the counselor send the transcripts of your first-semester grades to colleges if you have not already done this.

Don't make rash decisions! This is the most important thing you can remember right now. You don't have to make a commitment at this point; just apply to as many schools as you think is reasonable, and wait to see what kind of financial packages they will give you. Remember that many students transfer and/or change majors, so you should really take the time to choose a school where you want to be.

Don't choose a school based on a boyfriend or girlfriend! If the relationship is meant to be, it will withstand the test of separate colleges. Most often, though, high school relationships don't last throughout colleges, and one or the other of you may decide to transfer for academic or financial reasons.

If you have filed your FAFSA, watch the mail for your SAR (Student Aid Report). This should arrive about four to six weeks after you file the FAFSA. If you do not receive it within six weeks, call the Federal Student Aid Information Center at 1-800-FED-AID. The customer service representatives there are very friendly and helpful. This report summarizes your financial aid eligibility, so check it carefully to make sure it is accurate. If there are any inconsistencies, follow the steps in the packet and send it back.

Plan visits to any colleges and set up interviews if you did not get to them during the summer or if you would like to return to a campus for a second time. Read bulletin boards and the college newspaper while you are there; also, talk to current students and professors about their experiences. Be sure that you have talked with your College Assistance Plus representative and know the cost of the colleges before you go. We have College Visit packets available to help you narrow down your college search.

Students should beware of ending up at a school that is too selective for them. Applying to and choosing a very selective school can often hurt more than it can help; if you are only considered average at the school, they will not want you as much as they will want someone who will be above their average. Schools are businesses, and they offer better financial rewards to students that will make their institutions seem better.

If the student is taking AP courses for college credit, begin preparing for the tests in May. If there is an AP preparation class available, consider taking it. These courses can give you college credit that you will not have to pay for later, so good grades are beneficial.

College freshmen, sophomores, and juniors

If you have not filed your renewal FAFSA yet, you need to do so either online or in hard copy. 42% of submitted FAFSAs contain mistakes, so be certain that you have not made any errors. Contact your CAPlus representative to review your FAFSA before you submit it if you are uncertain.

Good grades mean higher incentive for the college to give you scholarships for the following year and years after that. Also, 30% of students transfer after their first or second year of college, so higher grades will give you the ability to negotiate a better deal for the next year. Parents should remember that their student is on their own as far as school is concerned, but it can be good to ask how the student is doing academically or giving encouragement over the phone.

It is very important for any students who received academic scholarships to keep their GPAs at the required level. Many students lose

their scholarship benefits because of low GPAs, causing them to lose thousands of dollars the next year because of a lack of effort. Have fun at college, but don't lose your focus on performing well academically.

When students meet with their academic advisors to discuss plans for the upcoming semester, make it a point to talk about whether you are on track to complete your degree in four years. If you have not declared a major yet, determine which general classes you can get out of the way now. Don't get trapped into an extra semester by being indecisive!

Avoid buying books from the campus bookstore if you can. Buying used books from other students or online is much cheaper than buying new books from the campus bookstore. You may be able to get up to 40% off new and used books through College Assistance Plus at Amazon.com and Barnes & Noble Online.

If you are coming home for spring break this year, plan on looking for a job for the summer (especially if you want to get a job in your field of study). Service jobs are plentiful in the summer, but focusing on a particular job that will reflect your major takes work and will be hard to find. It will, however, boost your resume! Network around and get some interviews if possible. You're only three months away from the end of school for the year!

College seniors

Parents should caution their seniors about getting credit cards both now and after they graduate. We cannot stress enough the importance of controlling credit card use! Any late payment can be used as an excuse by the credit card company to increase the card's interest rate. Grace periods are also shrinking. The student needs to know the card's policies before signing up! They should also make sure they pay the bill on time each month and avoid building up large amounts of debt and interest fees.

Many campuses hold career fairs around this time of year. This is a great opportunity to talk to some people in different fields and perhaps even have some interviews. If you get an opportunity to attend any of these fairs, take it! You never know what kinds of leads you might get.

Continue looking for jobs and internships, and talk to friends and family for ideas or contacts. If you'll be coming home for spring break, this will be a great time to talk to people! Network like crazy and stay focused. Parents usually have many friends and contacts who might be helpful. Remember that most jobs aren't posted on newspapers on websites. Getting a job is all about networking! If you're in a four-year program, you're only three months away from the end of your college career!

Students should also take this time to pursue recommendations from college professors or department heads. If you do not know your professors or department heads very well, try to get to know them in the few months you have left. It is important to have a relationship with these people because they can be very influential and helpful when it comes to recommendations or references.

If you are graduating and aren't sure what you'll be able to do with your degree, give your CAPlus representative a call. We work with students all over the country, and we know what kinds of jobs are available. We can help you learn what might be available in your field and what kind of job you would like to have.

Avoid buying books from the campus bookstore if possible. Buying used books from other students or online is much cheaper than buying new books from the campus bookstore. You may be able to get up to 40% off new and used books through College Assistance Plus at Amazon.com and Barnes & Noble Online.

Strategic Suggestions

High school seniors need to spend time applying to college! The important thing to remember is not to make any decisions until you have received your financial aid packages from the colleges. Acceptance letters are great, but you need to comparison-shop in order to get the best deal.

High school students, especially juniors and even sophomores, need to spend time studying for the SAT and ACT tests. Unless you got a nearly perfect score, retake the test! The highest combination of scores is kept, so there is no way for you to hurt yourself by taking the exams again. Some schools automatically reduce the costs of tuition by 50% or more if the student's SAT score is 1100 (by the old standard) or above! There are also many scholarships that students can qualify for based only on their SAT/ACT scores.

College students should work hard to get good grades, for getting excellent grades greatly enhances the ability to get extra money from the college. Even if you can't maintain a 3.5 GPA, don't be discouraged! If you work hard and raise your GPA, the college will notice. Also, if the student ends up transferring, a good GPA is extremely beneficial in getting a good financial aid package.

If there has been some circumstance in your family that has suddenly created financial hardship, write a letter to the college's Financial Aid Director explaining the situation. Make sure that he or she understands that you are not looking for loans but gifts/grants/hardship dollars directly from the college or university. If you call or email your CAPlus representative, he or she will assist you in drafting this letter.