Overloaded financial aid system costs students

As enrollment in colleges across the country grows, the increasing demand for financial aid is beginning to overwhelm the distribution system.

“About 30 percent of students at SCC receive some type of financial aid,” said Stacie Beck, SCC director of Financial Aid & Placement.    

“This year we have seen the biggest increase (in applications). So far this semester we have had the same number of applicants as we had all of last year.”

With the number of applications increasing so much, financial aid departments at individual schools are slowing compared to the federal level. 

“On the federal level there is no issue with delays. The dollars are there and the system is in place,” said a spokesperson from the U.S. Department of Education. “The individual departments are the ones who determine the actual aid package that the students receive.”

Students are allowed to apply for financial aid about six months in advance of starting school but those who wait too long risk not getting their money for tuition, textbooks and living expenses in time.

“It’s always best to apply early. If you apply by the priority deadline we set every semester, we make sure that if you are eligible you will get your benefits before classes start,” said Beck.

However, almost half of the students do not apply until after the deadline and risk getting their aid late. These late disbursements are causing some serious problems for students.
SCC student Taylor Hoffart knows first-hand the difficulties that can be caused by receiving benefits from her financial aid package late.

“I didn’t apply (for financial aid) early, and when classes started, I hadn’t received anything yet so I had to pay my tuition out of pocket,” said Hoffart. “Thankfully I was reimbursed because if I had to pay for everything on my own I wouldn’t be able to stay in school.”

Hoffart is not alone; her story is a common one on college campuses across the country.
With the current economy, more adults are choosing to go back to school by utilizing financial aid. To provide adequate funding for this increase in aid, the federal “stimulus package” allocated $30.8 billion to parts of the financial aid system.

To learn more about financial aid visit www.scottsdalecc.edu/financial or www.fasfa.gov.