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State, federal and private institutions help with students' needs

Arizona Summer Wildcat

Various financial aid options available

Even with a strong economy, parents across the nation might find it difficult to finance their children's college careers.

The University of Arizona Financial Aid Office estimates that in-state students living on campus can expect to pay about $11,400 per year, while out-of-state students living on campus will shell out nearly $19,000 over the same time period.

There is, though, some relief to help put a child through college, and it's called financial aid.

The UA, the federal government and many private institutions offer a number of ways for college students to fund their college careers.

A grant, the most popular of which is the Pell Grant, is based on financial need. The government does not require repayment of grants.

Another way to help students get through college is a loan. These are need-based and must be repaid after the student completes or leaves school. Interest rates vary from loan to loan.

Federal loans, like the Federal Stafford Loan, are issued by the government through individual banking institutions.

John Nametz, University of Arizona director of need-based aid, said there is one step in getting money from a Federal Stafford Loan that many students forget.

"For those who have applied for the Stafford Loan and received an award letter, they must claim the loan before they will see any money," Nametz said.

So far, only about 33 percent of students who received an award letter have claimed their money.

To complete the process of getting Stafford Loan money, go to http://w3.arizona.edu/~finaid/.

There, students can fill out the necessary form to claim the loan and will be given a list compiled by the financial aid office of recommended lenders.

If students do not wish to fill out the form online, they can get a phone number off the Web site to complete the process.

The UA offers programs such as the Federal Perkins Loan, Nursing Student Loan and short-term emergency loans.

Students who do not get loans or grants also have the option of getting jobs available to people with financial need. The university employs nearly 10,500 students annually to help offset tuition costs.

This federal employment program offers on-campus jobs, as well as some off campus.

Nametz said students are never left to scramble for money if they simply fill out the FAFSA form.

"We can get enough money to get them through college, including cost of room," he said.

The university's Student Employment Manual gives procedures and policies for gaining employment on campus.

Further information regarding financial aid can be obtained by visiting the Financial Aid Office in the Administration building, Room 203, or from the Scholarship Office in Old Main, Room 232.

If students have questions, the UA Financial Aid office can be reached at (520) 621-1858.

With crunch time approaching, the best and most efficient way to get in touch with the office is e-mail. The address is: askaid@arizona.edu.

While the different types of financial aid might be difficult to understand, Nametz said students can make it easy on themselves.

"They don't have to be experts on this, they just have to apply," he said.

Blake Smith can be reached at Blake.Smith@wildcat.arizona.edu.