HESAA’s Tips and Tricks to Effective Studying

College is a big investment. Even with scholarships and grants, most students end up needing to take out either federal or private student loans. With such a large amount of money invested, there is a lot of pressure for students to do well in school. To help you succeed academically, HESAA has gathered some tips and tricks to make you a studying whiz!

Tip # 1: Get Enough Sleep

Getting enough sleep each night is the single best tip for any student looking to improve their studying habits. Why? Countless studies have shown that most students aren’t catching enough zzz’s to study effectively. Being tired makes it harder to focus and retain information. No amount of coffee or energy drinks can compensate for a full night of sleep, so make sleep a priority.

Tip # 2: Find Your Perfect Study Spot

It may not seem like a big deal, but where you study can really impact the quality of your studying. Find a location that is free from distractions and allows you to focus. For some, it may be at the library while for others it may be outside under a shady tree. Some people can effectively study through nearby noises and distractions while others need quiet and seclusion. You may have to try out several different locations until you find the spot that works best for you.

Tip # 3: Figure out what time of day you study best

Just like finding your perfect study spot, you also need to figure out the time of day that you are most effective when studying. While most students find themselves studying during the day or pulling a late-night cram session, it’s worth getting up early to study once or twice to see if you’re more productive in the morning. You may find that you’re more alert and can better focus after you’ve gotten some sleep.

Tip # 4: Put away your cell phone

Your cell phone is your worst studying companion. Checking your phone constantly will not only break your concentration and focus, but it will make your study session longer than it should be. Consider keeping your phone on silent and putting it out of your sight while studying.

Tip # 5: Take Small Breaks

When studying for long periods of time, it’s important to give your brain a short break every once in a while. Use this time to give your brain a rest. You can do things like take a walk, eat a healthy snack, check your phone, or do some simple stretches. These breaks don’t need to be long; we suggest keeping them around 5-10 minutes.

Tip # 6: Say It In Your Own Words

When trying to grasp difficult concepts, study the material until you can put the concepts and ideas into your own words. When you can do this, you’ll know you have a thorough understanding of the material. If it helps, pretend that you are the teacher and explain it like you would to a class full of students. You can also try writing down the information on paper. Writing things down helps commit them to your long term memory so the concepts will be easier to recall during an exam.

Tip # 7: Use Mnemonic Devices

Some subjects require a lot of memorization. Instead of studying for hours and hours to simply memorize the information, try using mnemonic devices to help you. Mnemonic devices are simple tricks to help your brain connect pieces of information so you can more easily remember them. For example, if I was trying to remember the order of the planets, I could learn the phrase “My Very Excited Mother Just Served Us Nine Pies.” The first letter from each word would correlate to a planet, so it would be easy to know that the order is Mercury, Venus, Earth, Mars, Jupiter, Saturn, Uranus, Neptune, and Pluto. There are hundreds of mnemonic devices out there. Try a few out to see if they help you!

Follow these tips and you’ll be a studying like a pro before you know it!

HESAA Gives Back: The Law Enforcement Officer Memorial Scholarship

There are approximately 900,000 law enforcement officers now serving in the United States. These officers risk their lives to help keep our communities safe. Some officers end up giving the ultimate sacrifice in the line of duty. In the past 10 years, 1,439 officers have died in the line of duty; that’s an average of 144 deaths per year or one death every 61 hours. These officers often leave behind a spouse and children. In addition to the grief and heartbreak that comes from the death of a loved one, there can also be a huge financial impact for the surviving family. This is why the Higher Education Student Assistance Authority (HESAA) of New Jersey created a special scholarship called the Law Enforcement Officer Memorial scholarship. With the cost of education rising, we wanted to make sure that the spouse and children of these fallen officers have the opportunity to pursue an education. Below you will find the details regarding what the scholarship covers, who is eligible to apply and the application process.

Benefits

The Law Enforcement Officer Memorial scholarship covers up to the cost of attendance, less other scholarships, grants, benefits and other assistance awarded under HESAA statute. What’s especially great is that these awards are renewable for up to four years! Students must attend an approved New Jersey college, university or degree-granting proprietary school. You can view the list of approved schools on the New Jersey Grants and Scholarships page at HESAA.

Eligibility

Students must:

• Be a dependent child of a New Jersey law enforcement officer killed in the line of duty
• Be a U.S. citizen or an eligible non-citizen
• Be enrolled full-time in an undergraduate degree program at an approved New Jersey college, university or degree-granting proprietary school
• Be registered with Selective Service (if required)
• Maintain satisfactory academic progress
• Students who have received the maximum number of payments are not eligible

Application Process

Applying for the Law Enforcement Officer Memorial Scholarship is simple. Visit the New Jersey Grants and Scholarships page on HESAA’s website where you will find the application. Make sure you get your application submitted before the deadlines below:

• Fall 2016 & Spring 2017 semester Deadlines: October 1, 2016
• Spring 2017 Semester Deadline: March 1, 2017

We encourage you to share this information with anyone that you feel may be eligible for this special scholarship. We want to make sure that these individuals know that HESAA is here to support them should they decide that they want to pursue an education. We are glad for these opportunities to support members of the New Jersey community.

Source: http://www.nleomf.org/facts/enforcement/

How a Degree Can Impact Your Life

Going to college and obtaining a degree is one of the best time and money investments you can make in your lifetime. While the road to getting accepted to school, financing your education, and actually attending school and earning a degree is long and difficult at times, having a college degree sets you up for success for your future. Today we are going to look at some of the ways having a degree can impact your life.

Better pay

Simply put, statistics show that you’ll earn more money with a college degree than without. For perspective, let’s take a look at some numbers from the U.S. Bureau of Labor Statistics. Listed below are the weekly earnings from 2015 for each education level.

• Less than a high school diploma: $493
• High school diploma: $678
• Some college; no degree: $738
• Associate’s degree: $798
• Bachelor’s degree: $1,137
• Master’s degree: $1,341
• Doctoral degree: $1,623

You can easily see that there is a large jump between the weekly earnings of someone with only a high school diploma and someone with a bachelor’s degree. This is one of the main reasons why we, at HESAA, talk so much about how you should look at college as an investment in your future. The cost of higher education can be high but there are so many ways of making college more affordable through financial aid options like student loans, grants, scholarships, and private loans. Visit HESAA to learn more about these options for New Jersey residents and those looking to attend school in New Jersey.

More Job Opportunities

This one may seem obvious, but it’s worth remembering that not having a college degree really limits your career options. Think about all of the different jobs that require a college degree: teacher, doctor, lawyer, accountant, engineer, professional actor, scientist, journalist, and so many more. It would probably be easier to list jobs that don’t require a college degree than to list those that do. It’s worth taking the time to research the education required for your dream jobs. In most cases you’ll find that they require a minimum of a bachelor’s degree. Even if they don’t require a degree, you might find yourself competing for the same job with those that do have a college degree and that might give them a better chance at receiving a job offer.

Better Benefits

When you have more job opportunities you can shop around for a job with better benefits. Many companies attract workers with an excellent benefit package. When you have a degree and skill set that employers are seeking you’ll be able to find a job with benefits that appeal to you. You’ll want to consider things like the coverage options of their health insurance, how many vacation and sick days you’ll receive, what retirement plans they offer, and any other special perks that set them apart from other companies.

Personal Satisfaction and Happiness

Getting a college degree is a major achievement! You will feel a great amount of personal satisfaction and fulfillment when you find yourself celebrating your graduation in your cap and gown. Luckily, the satisfaction and happiness doesn’t have to end upon graduation. Hopefully, you’ve chosen a major that will take you down a career path that will lead you to a job that you will enjoy and that will bring you daily fulfillment and personal growth.

At HESAA, we hope you will keep these things in mind when deciding whether or not to pursue a degree in higher education. We know that it’s a lot of work and can be an expensive endeavor, but that doesn’t mean that it is out of reach. Visit HESAA to learn more about the different ways you can finance your education.

You Can Qualify! HESAA Offers New Jersey Students Financial Aid

Getting an education is one of the best decisions a person can make. If you are a resident of New Jersey or are planning on attending school in New Jersey then look no further than the Higher Education Student Assistance Authority (HESAA) for information about financing your education. Our website it full of information about state and federal financial aid, state-sponsored scholarships and grants, supplemental loans and more.

Qualifying for financial aid is within your reach! Let’s take a look at the steps you should take to financing your education.

Apply for Federal Aid

Filling out the Free Application for Federal Student Aid (FAFSA) should be the first thing you do when looking to finance your education. Federal Student Aid is a part of the U.S. Department of Education. They are the largest provider of student financial aid in the nation. Each year they provide more than $150 billion in federal grants, loans, and work-study funds each year to more than 13 million students paying for college or career school. If you don’t end up qualifying for a federal grant, taking out a federal student loan may be a good option for you. These student loans typically offer lower interest rates than private student loans.

Apply for New Jersey Grants and Scholarships

New Jersey is proud to offer one the most generous need-based programs in the nation, the New Jersey Tuition Aid Grant (NJ TAG). In fact, one-third of all full-time students attending school in New Jersey receive grants through the NJ TAG. In addition to our need-based programs, New Jersey also has many scholarships. These scholarships vary in amount and qualifications. Visit HESAA to learn more about our grants and scholarships. Remember, grants and scholarships are free money! You’ll want to apply for these early to give yourself the best chance for receiving an award.

Apply for Private Grants and Scholarships

In addition to applying for state-based funding, look into private grants and scholarships. A high school counselor is a great resource for any student looking to learn more about private scholarships and grants.

Consider Supplementing with a Private Student Loan

After you’ve applied for federal, state, and private funding you may find that you still don’t have enough money to cover the cost of attending college. After all, college is expensive. Listed below are the average costs of yearly tuition and fees according to The College Board:

Public Two-Year College (in-district students):          $3,440
Public Four-Year College (in-state students):             $9,410
Public Four-Year College (out-of-state students):      $23,890
Private Four-Year College:                                         $32,410

Considering these amounts, it’s easy to see how you may need extra help paying for school. At HESAA, we offer New Jersey College Loans to Assist State Students (NJCLASS Loans). These supplemental loans were established in 1990 and offer a choice of repayment options. We offer options to start repaying your loan while in school or you can wait until after you graduate. Most repayment plans offer lower interest rates than the Federal PLUS Loan. We offer both undergraduate and graduate/professional loans. Additionally, there are no prepayment penalties for paying off NJCLASS loans early, so borrowers can save even more money on student loan debt interest by paying more than their minimum payment each month. For those looking to attend school in New Jersey, the NJCLASS loan can be a great option if you need to take out a private student loan. As always, you want to make sure you borrow wisely with a plan for how you will repay your loan.

In conclusion, we hope that you realize that you can qualify for some of these student financial aid options. Visit HESAA to learn more about financing your education in New Jersey.

What to do When the Primary Signer Defaults on a Student Loan

Agreeing to be a cosigner for a student loan is a huge responsibility. Hopefully, if you have already cosigned for a loan you did it with someone you trust. Open communication is crucial when agreeing to cosign for a loan. However, sometimes payments don’t get made and as the cosigner, you may not know what’s happening until it’s too late and you are dealing with a loan default.

The Road to Loan Default

First, let’s talk about what it means to default on a student loan. When the primary signer misses a payment, the loan is considered delinquent. During the delinquency it’s crucial to keep communicating with your lender. If help is sought in the early stages of delinquency there may be options such as deferment or forbearance to assist borrowers. However, if payments continue to be missed and the delinquency goes on for many weeks the loan defaults.

Repercussions of a Defaulted Loan

Once a loan has defaulted, borrowers will be immediately responsible for the entire amount of the loan including all accrued interest. A defaulted loan is no longer eligible for deferment, forbearance, or repayment plans. The loan will be shifted to a collections agency and the default will be noted on the borrowers’ credit scores. Collection agencies will then use other means to recoup the money including garnishing wages, repossessing vehicles, and even putting a lien on your home. Because students typically don’t have as many assets as the cosigner, it’s more likely that you as the cosigner will feel the impact.

Communicate With the Primary Signer

Now that you know what happens when a student loan defaults, talking to the primary signer is critical. Discuss what the defaulted loan means for you and them. Remind them of their responsibility. Together, create a plan for how you will pay off the loan in full.

Consider Your Options

There’s no easy way of dealing with a defaulted loan. Most of the simple solutions happen long before a loan has even become delinquent. Nevertheless, let’s talk about a few options for you to consider.

• Contact the lender – It’s unlikely that the lender will be able to provide many options once the loan has defaulted, but it’s still worth contacting them to see if they can do anything to help. At HESAA, we have resources for those that are having trouble making payments on our supplemental loans.
• Primary signer takes out a third party loan – While the chances of them finding a lender are slim, the primary signer may be able to take out a third party loan large enough to pay off the student loan (remember that once a student loan is defaulted borrowers owe the entire amount of the loan plus interest immediately). This would completely absolve you of any further responsibility for the student loan.
• You take out a third party loan – If the primary signer does not qualify or is unwilling to take out a third party loan, this may be your best option if you don’t have the savings to pay the full amount of the student loan upfront. A third party loan is likely to have a high interest rate but would allow you to make payments.
• Contact friends and family – See if any friends and family would be willing to make a financial contribution to help pay off the student loan. If enough people help out it could make the amount you have to pay attainable without needing a third party loan.
• Talk with a financial planner – A financial planner won’t make the student loan responsibility go away but he/she may be able to help you find the best way to pay off the loan and to start the process of getting your credit score and personal finances back to where they need to be.

Hopefully, as a cosigner you understood that there was the possibility that you would be responsible for either partially or entirely paying off this loan, and as such you have sufficient funds in place to do so. If not, we hope that this article will help you consider what other options are available to you.

Grant, Scholarship, or Loan: What’s the Difference?

At HESAA, we know that there are lots of terms that we use when talking about student financial aid. In this article we are going to take a closer look at three of the most common types of financial aid—grants, scholarships, and student loans.

What is a Grant?

A grant is a certain amount of money that is given to a person by an organization or the government. Recipients of grants are not limited to just students, but for the purposes this article we will be talking specifically about student grants. One of the great things about receiving a grant is that the recipient does not need to repay the grant—in other words, it’s free money. Student grants can help pay for tuition, housing, food, books, and other school-related expenses. People often confuse grants with scholarships. After all, they are both free money, right? The difference is that grants are typically need-based while scholarships are merit-based.

One of the most common grants you might hear about is called a Federal Pell Grant. This grant is awarded through the federal government and is for undergraduate students who have not earned a bachelor’s or professional degree. Students can apply for a Pell Grant by filling out the Free Application for Federal Student Aid (FAFSA). The award amount varies based on your financial need, the cost of attendance at your school, whether you are a part-time or full-time student, and a few other variables. Some fail to fill out their FAFSA because they think it is too hard. HESAA has gathered some helpful tips to get started. You can also check the current maximum award amounts at the Federal Student Aid website.

What defines a Scholarship?

Scholarships are a certain amount of money that is given to a person for educational purposes based on academic or some other type of achievement. This is an instance where getting good grades can really help you pay for school. In addition to academic scholarships, there are also athletic and artistic scholarships available.

Scholarships come from a variety of places. Some come directly from universities while others come from organizations. There are even state sponsored scholarships like New Jersey’s Governor’s Urban Scholarship. To learn more about scholarship opportunities in New Jersey, visit HESAA.

You may have heard people talking about full-ride scholarships. These scholarships often cover tuition, books, fees, and even room and board. It’s easy to see why these sought-after scholarships are so competitive. With so many scholarships out there, it can be difficult to know where to start looking. We suggest working with your high school guidance counselor to identify scholarship possibilities that may be right for you based on your grades, interests, and experience. In addition to your high school counselor, consider using one of the many scholarship locating websites or asking a mentor or parent to assist you in finding scholarship opportunities.

What makes Student Loans different?

Student loans are money that you borrow from either the government or a private institution to help you pay for school. Student loans often have a lower interest rate than other types of loans, and you typically don’t have to start repaying the loan until after you graduate. Even if you end up receiving scholarships and grants, you still may not have enough money to cover the cost of attending school. Most students looking to get a student loan get one through the federal government. If a federal student loan still doesn’t cover your expenses, you can consider taking out a supplemental student loan such as an NJCLASS loan. These student loans can make your dream of attending college a reality.

HESAA Gives Back: The NJ World Trade Center Scholarship Fund

The tragic events of September 11, 2001 are forever a part of American history. Nearly 3,000 people lost their lives as a result of the attack. Some of those victims were residents of New Jersey. To honor those that lost their lives in the attack and to help take care of their families, the Higher Education Student Assistance Authority (HESAA) created a special New Jersey World Trade Center Scholarship Fund.

This unique scholarship from HESAA benefits a surviving spouse and dependent children of New Jersey residents who were killed or died as a result of injuries sustained by the terrorist attacks.

Benefits

Scholarship recipients may attend any Title IV eligible college or university in New Jersey or out-of-state. The average amount recipients receive is $6,500, and this scholarship is renewable each semester as long as recipients continue to meet the eligibility requirements. The scholarship amount cannot exceed the actual tuition, fees, room and board charged. Scholarship amounts may change as a result of changes in program funding and student’s other available financial assistance.

Eligibility

Listed below are the eligibility requirements for this HESAA scholarship:

• Be a child or spouse of an individual who was a NJ resident on September 11, 2001 who was:
• Killed in the terrorist attacks against the United States on September 11, 2001
• Died as a result of injuries received in the attack
• Died as a result of illness caused by exposure to the attack sites
• Declared missing and officially presumed dead as a result of the attack
• Be a U.S. citizen or eligible non-citizen
• Be a full-time, undergraduate student
• Eligibility to apply is limited to eight years from the date of the child’s high school graduation and eight years from the date of death for the spouse.
• Maintain satisfactory academic progress
• Not have received the maximum allowable number of payments. For example: eight semesters of payment for a regular four-year degree program; five semesters of payment for a regular two-year degree program.

Application Process

Applying for the WTC Scholarship is easy. Visit the New Jersey Grants and Scholarships page on HESAA’s website where you will find the application. Make sure you get your application submitted before the deadlines below:

Fall 2016 Semester Deadline: October 1, 2016
Spring 2017 Semester Deadline: March 1, 2017

When you apply you will be asked to provide the following document to verify your eligibility:

• Proof that the deceased was a New Jersey resident on September 11, 2001
• An original or certified copy of the death certificate, or an accurate and complete photocopy of the original or certified copy of the death certificate
• A letter from the deceased’s physician stating the cause of death
• Proof that the deceased was registered with an appropriate state or federal registry, including, but not limited to:
• The Victim’s Compensation Fund
• The World Trade Center Medical Monitoring & Treatment Program
• The World Trade Center Health Effects Treatment

At HESAA, we are proud to offer the NJ World Trade Center Scholarship Fund. Recipients of this scholarship deserve our continual love and support. We hope that this financial assistance will make getting an education a reality and that a college degree will make for a brighter future. This scholarship is a small way we are giving back and offering support to the wonderful citizens of New Jersey.