Financial Aid

Officials at Beaver College in Montgomery County are promoting a plan that addresses one of the most critical issues families face in choosing a college: the price. Students interested in the private, 750-student college are promised that if they fill out the school's FAST form - the acronym stands for Financial Analysis Services Today - within 10 days they will receive an estimate of what they will have to contribute annually toward college costs. The impetus is to get families quickly over the sticker shock of private- college costs - at Beaver, for instance, a year of tuition, room, board and fees is about $16,500 - and make them more willing to apply.

Enrollment at Community College of Philadelphia fell 4 percent last fall, and officials suspect tightened eligibility guidelines for federal financial aid are to blame in part. Full-time student enrollment on its own took an even bigger hit, dropping 8.3 percent, from 5,540 in fall 2011 to 5,076 last fall. Throughout the region, other community colleges also report dips or flat enrollment, and note that students who in the past would have received aid, known as Pell grants, are going without.

The Toronto Blue Jays, whose owners say they lost $15 million (Canadian) in the first quarter of 2002, despite not paying a payroll during that off-season period, have petitioned Major League Baseball for a "currency equalization" plan similar to those in the NBA and NHL. Without one, 80 percent of the Blue Jays' expenses are paid in U.S. dollars, while 70 percent of their revenue is in Canadian dollars. The team claimed losses of $43.1 million last year. Alan Horn, chief financial officer of Rogers Communications, which owns the team, told the Toronto Sun last week that the team would become profitable or "other alternatives" would be considered.

Paying college tuition these days is like shopping for a car: You almost never have to pay the sticker price. Colleges are receiving unprecedented numbers of applications for financial aid - and giving out unprecedented numbers of dollars. At West Chester University, the number of students requesting financial aid rose by 1,000 from 1990 to 1991. At Bryn Mawr College, 100 more freshmen sought monetary help than the year before. At Cheyney University, where 88 percent of the students get financial help, applications for aid are up 10 percent.

As consultant to consumer and educational lending programs for several East Coast banks, Harvey Grossman began to notice a trend. Mass confusion over paperwork, particularly concerning college financial aid. "How do you fill out this form?" "What do I do?" "Where do I send this?" "We found there was nowhere to go. If you had a question on the financial aid process, you had to go to the financial aid officer at a college, and they would present you with their biased view," Grossman said.

With all the talk about financing a college education, there is one important fact to remember: Some colleges still offer financial aid even for applicants who are able to pay. It may be called "no-need" aid. It may be called "merit money. " It may be offered for purely altruistic reasons or as a more practical attempt to buy the affections of students who might not otherwise enroll. No matter. You don't need to detail your family's finances to be eligible. You don't need to comply with government guidelines.

'TIS THE season for stockings, car commercials, wish lists, egg nog and scammers. With the student financial-aid application season beginning soon, state officials are reminding students and families that they may be contacted by individuals or companies via email, social media or traditional mail, offering assistance in securing scholarship money for a fee. Some of the organizations are legitimate; others are not. Families can avoid scams...

Soaring tuitions are threatening both the quality of higher education and the financial security of many colleges. The reasons are circular. As tuitions have risen dramatically and schools have raised billions for their endowments, spending levels have skyrocketed. With many families priced out, colleges have had to allot more financial aid. The result of this economic spiral: Colleges have less to spend on educating undergraduates. Institutions have long offered financial aid, but never at the volume they do now. Since 1980, colleges and universities have more than quadrupled their financial-aid budgets, according to U.S. Department of Education statistics.

College-bound seniors and their parents can get help completing the Free Application for Federal Student Aid (FAFSA) form at 50 workshops throughout the state on Feb. 9. The FAFSA is a federal form that all families need to submit to determine if they qualify for almost all forms of need-based financial assistance, including the Pennsylvania State Grant, Federal Pell Grant, many scholarships and institutional awards, and low-cost student loans....

The Public Interest Law Center of Philadelphia, which battles for social change in the arena of the courtroom, is looking for financial help. The nonprofit law firm, best known for prompting the U.S. Supreme Court to close the antiquated Pennhurst State Hospital, is trying to raise $50,000 by Jan. 31. If the goal is met, the Philadelphia Bar Association will pitch in an additional $25,000. Michael Churchill, PILCOP's chief counsel, and Clifford Haines, outgoing chancellor of the bar association, said yesterday that they were seeking contributions from foundations, businesses and - especially - law firms.