An Ominous Experience
The Financial Aid process can be a harrowing experience for students. For many, this is the largest purchase they have made in life thus far. The process can be confusing and frustrating; especially when their life situation requires that they obtain records from other individuals. A large dose of patience and encouragement will go a long way in their Financial Aid experience.
Exactly. A little empathy does wonders. Understanding that basic concepts like "interest rates" and "lender" a foreign concepts to some people depending on his/her economic background. Knowing and understanding that every student is not coming in with an equal understanding of finances is extremely important.
I like to think about the different financial experiences I have had in life and try to help students and parents become more financially literate. Student loans, automobiles, house, investments, etc. I encourage my staff to be open and address typical concerns that students should have even if they do not know what to ask about the financial aid process. We try to simplify the process while encouraging asking questions whenever they arise. When it is time to repackage a student another opportunity arises to dig deeper and do a spot check on their understanding. Those graduating also have another opportunity to devise a strategy with the financial aid advisor.
