By SARA BERGQUIST

sbe007@latech.edu

 

Since money has not been spotted growing on the newly blooming trees around campus, students have to find other ways to rake in the “Benjamins.”

The four-letter word “loan” may scare some students. Most students hear the words “financial aid” and think about piles of confusing paperwork and endless amounts of forms to file, but Roger Vick, director of student financial aid, said applying for aid does not have to be dreaded.

“It only takes about an hour to make the application,” Vick said.

“There is a potentially enormous amount of money that could be available, and it’s free.”

Vick said he encourages students to begin scholarship searches and financial aid applications as early as possible.

“If students don’t apply, [students] don’t get anything,” Vick said.

Vick said many students forget financial aid is an annual application. Students have to apply for federal financial aid every year.

Vick also said it is extremely important for students, as well as, parents to apply early, and reapply.

In 2003-2004 Tech’s total financial aid awards paid was $56,031,412, Vick said.

Crystal Garcia, a junior early education major, said she had financial aid in the fall of 2005.

“I went through the school for my loans,” Garcia said. “After my acceptance package, I was awarded a maximum amount of loans based upon the government and my year in college.”

Garcia said since she was a sophomore at the time of her loan acceptance, she was awarded $3,500, which was divided among three quarters.

“My loan doesn’t accumulate interest, and it was pretty easy to obtain because everything was done online,” Garcia said.

“The award letter is online, along with the interest interview and master promissory note.”

Garcia said her loan is good for 10 years.

“You can accept and receive your loans as you need them,” Garcia said.

“You don’t have to go through the entire process of resubmitting your applications.”

Heather Douglas, a sophomore psychology major, also said her loans were easy to obtain.

“I was offered loans in the beginning, but I denied them,” Douglas said.

“Then I saw how much I needed the loans, and I applied online.”

Douglas, who is married and has a child, said financial aid was a life saver for her.

“I don’t work, so the loans are really worth it,” Douglas said.

“I also hear that [loan companies] are really easy to work with when it comes time to paying off your loans.”