At the University of Alaska at Anchorage, fewer than half the students enrolled there have applied for financial aid, even though tuition is $1,344 per semester and living costs are nearly $9,000. As a result, a number of these students are running out of cash and/or have to charge their tuition, housing, food, and books to credit cards.
According to Ted Malone, director of financial aid at the university, Alaskans apply less often for financial aid than students at similar institutions in other states. However, Malone believes that many of these students would apply for financial aid if they understood the various options available to them.
The state is trying incentives to encourage students to apply for aid. In 2001, a rule was implemented that required students applying for the Alaska Supplemental Education Loan to also fill out a Free Application for Federal Student Aid (FAFSA)--which makes it possible for the students to be considerd for the need-based federal Pell Grants. And, next year, the state will begin a new grant program aimed at students in financial need; about $600,000 will be given away the first year.
Failing to apply for financial aid has serious consequences, according to Mary Gower, manager of student services for the university. In her view, "the more free money they have to attend school," the more likely it is that they will "stay in school."
Tip: If you're looking for free money, here's any easy way to find the aid you need: check out the financial aid programs identified in Reference Service Press's line of award-winning financial aid directories for undergraduates, particularly Kaplan Scholarships.
