Nickerson, a Murray High student, is like many high school seniors tasked with planning for his soon-to-be college future while having his last high school hurrahs.

“I tried to get some scholarships, but there’s still going to be a lot to cover,” he said Tuesday. “I haven’t thought about how I’m going to do that yet.”

Higher education officials say there’s still time for Nickerson and others in the class of 2011 to make necessary decisions about financial aid and their academic futures.

David Feitz, the executive director of the Utah Higher Education Assistance Authority, said it’s not too late for graduating seniors to save up for tuition and apply for scholarships in addition to government grants and loans.

Feitz said the Free Application for Federal Student Aid is a great tool that is oftentimes overlooked by teens and their families.

“Completing that FAFSA is the number one step that every student should start with,” he said.

After filling out the FAFSA, students learn if they qualify for Pell Grants, which are needs-based federal grants that don’t have to be paid back. The maximum Pell Grant amount is $5,550 per school year.

Feitz said there are numerous private and public scholarships that are still available and recommended students search for scholarship opportunities at websites like FastWeb and FinAid.org.

To read the rest of this article from the Deseret News, click here.

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According to The Salt Lake Tribune, UHEAA’s Executive Director, David Feitz, states, “In recent years, UHEAA has kept student loan default rates low thanks to the interest rate breaks it gives for on-time payment and customized payment plans for struggling students. Utah’s 2.1 percent default rate is less than one-third the national average. Even though the federal government has had a direct loan option in place since 1993, very few Utah students go that route…”

Essentially, the new legislation will dramatically affect the way UHEAA does business, and could lead to increased default rates for Utah’s students.  The Tribune also reports that UHEAA’s 183 employees could be out of work if the federal government does not contract with local non-profit agencies like UHEAA to service loans made under the new program.

To read the full Tribune article, visit: http://www.sltrib.com/news/ci_14789463

On September 18, 2009, the House of Representatives passed the Student Aid and Fiscal Responsibility Act (SAFRA).  This bill does many things, one of which is end the Federal Family Educational Loan Program on June 30, 2010.  This means that you would no longer be able to get your Stafford or PLUS loan through your bank or credit union.  The Department of Education will be the only lender making traditional student loans.

What does this mean to you?  You need to pay careful attention to your school’s instructions and act on them immediately!  Your school will provide you with more information on these changes.  If you have already received information about these changes from your school but have questions, please contact the financial aid office on your campus for the most up-to-date information.

In the meantime, UHEAA and its partner lenders will continue to provide you with student loans and the highest possible level of customer service.

If you are interested in a full overview of SAFRA, you can find more information here:  http://www.nasfaa.org/publications/2009/ln3221summary092209.html

Hoping for a fast and easy answer, I asked my 13 year old granddaughter, “Honey, what is a ‘blog’?”  She stared at me in disbelief.  “You’re joking right?”

Admittedly, I feel frustrated.  I lack knowledge and experience!  Add “vulnerable” and “self conscious” to the mix, and that pretty much sums up how I feel about my new BLOG assignment.

A few days have passed and I now have a better understanding of what I will be doing here (thanks to my all-knowing computer search mode), but I know there is much to learn before I feel at ease with the process..

I think that’s how it is with the student loan process. There are seemingly endless steps along the way and so many entities connected with them. It can appear overwhelming and irritating all at the same time. Getting that loan from “application” to “pay off” is a tricky process – like keeping eight spinning plates in the air. Timing is of the essence.  Does the right hand ever know what the left hand is doing?

Recent changes in the student loan program at the federal level can be very confusing!  You do not need to have all the answers . . .  but it can be very useful to know where to go to get them.

UHEAA is ready, willing, able, and anxious to help you! We can be reached at 1-877-336-7378, Monday through Thursday, 8am to 8pm, MST. On Fridays the hours are 8am to 5pm. You can also send an e-mail to us at uheaa@utahsbr.edu.

Hard times have returned and it is still frightening to realize that there is no way to pay all the hands reaching into our pocketbooks. Many of us borrowed money for continuing education, fully expecting to pay it back in a timely fashion. We figured if we got a degree the chances for financial stability were good. It’s what we “banked” on.  Unfortunately for some of us, things have not worked out as we planned. There is way too much month left at the end of our money. Not only do our “ends” not “meet”, they don’t even wave at each other!

I think we make the worst decisions when we don’t know all of our options. There are tools available to fix our broken student loan budgets. Some of them include: deferment, forbearance, and income-based-repayment. Additionally, we might qualify for reduced or graduated payments.  We won’t be able to make the best choices until we explore the possibilities, and UHEAA can help us in that process if we give them the opportunity to do so. They can be reached at 1-877-336-7378, Monday through Thursday, 8am to 8pm, MST. On Fridays the hours are 8am to 5pm. E-mail inquiries should be directed to uheaa@utahsbr.edu.