A burning question for many students, at all college levels is “How can I maximize my financial aid opportunities?” – especially when there are growing uncertainties among both students and professionals concerning the path where FAFSA is heading.

According to a report on “How America Pays for College,” scholarships and grants pay for at least one-third of college fees. This amount may seem like nothing, but considering that the remaining means of funding is through parents/students income, savings, and borrowing, it is no surprise why the stress levels of students are increasing.  

So, what really is the current state of students education?

There are always alterations within the Department of Education. Under the new administration, government’s student loan program have been moved to the treasury, which would impact how funds are managed. This also implies that the means, and the amount of funds that  should be dispersed is variable to change, and whether that change will benefit students is an important question that should be asked.

Furthermore, this also involves the funding of scholarships.  

In addressing the US senate committee, Persis Yu, deputy executive of the Student Borrower Protection Center stated, “No transitions in the student loan system have ever gone well,  historically, and we have never tried to move the entire portfolio,”. 

This is a worrying statement since it carries statistical and historical weight. In an exclusive interview with the Beacon, Director of Financial Aid, Ms. Stacy Ann Brown, describes this impact as, simply, “unsure”. She further expressed, “until we have  something definitive as to the direction of the Department of Ed and how that will trickle down  and affect the state and universities such as William Paterson, we’re in a bit of an unsure space.” 

Another concern is the ridding of loan forgiveness programs which might ultimately place more students in debt and strip away eligibility criteria for repaying loans.  

All of this, in the wake of a recently revamped FAFSA, with the objective of providing a more efficient process for students and financial aid employers, only to be met with a seeming contrary result. Mark, a first-year music student describes the drawn-out nature of the past FAFSA  detailing, “When I got in, I needed to do FAFSA first so I can get inside the school.  It took me almost half a year to get the process done.” He suggests that FAFSA should be facilitated earlier, specifically for high school students for an easier transition.  

Since this is evidently relative students, so what can students do? 

To begin with, William Paterson provides a great resource where students, upon admission, are given a competent financial aid advisor. Therefore, the first step is to apply, even in uncertainty. “One of the things with financial aid in general, especially aid that is restricted, is that it’s typically on a first-come, first-served basis,” Brown said. It isn’t about just submitting an  application, but doing it as early as possible, giving individuals more opportunity for aid.  

The entire point of financial aid is to see if students are eligible or ineligible. Aside from this, there are work study programs, which can not only support students financially, but also help them gain experience in a work environment.

All these considered, students are recommended to look beyond grants, academic excellence is always rewarded. There is opportunity at William Paterson to receive scholarships offered by various alumni, associations, and state specific scholarships.

 As Director Brown has described, “the landscape of higher education may be, at times, a very volatile one.” It is important for students to speak to their advisor, look at what the state has to offer, and

embrace  the support that William Paterson has to offer.  

See more: Financial Aid | William Paterson University