There’s Still Time! Applying Through HESAA for Financial Aid in New Jersey

Don’t worry, there is still time left to apply for state-based financial aid in New Jersey. HESAA, the New Jersey Higher Education Student Assistance Authority, has compiled a list of deadlines for you to use as a reference. We encourage you to familiarize yourself with the deadline dates below to make sure you don’t miss out on the possibility of receiving New Jersey state or federally funded student financial aid. We have included dates for the upcoming 2016-2017 school year, and we have also listed the deadlines for the 2017-2018 school year for those looking to plan ahead. You can always visit HESAA for more information on these programs and deadlines.

HESAA's FAFSA Filing Deadlines

The FAFSA must be RECEIVED by the Federal processor (not postmarked) by the dates below to be considered for the Tuition Aid Grant (TAG), Governor’s Urban Scholarship, NJ STARS and NJ STARS II programs:

2016-2017 Academic Year

All applicants (Fall 2016 and Spring 2017)	October 1, 2016
All applicants (Spring 2017 only)	March 1, 2017

2017-2018 Academic Year

2016-2017 TAG renewal applicants	April 15, 2017
All other applicants  (Fall 2017 and Spring 2018)	September 15, 2017
All other applicants (Spring 2018  only)	February 15, 2018

HESAA's Deadlines for completing State grant records (Applicant Information Requests (AIR), State verification, corrections, college code changes, etc.):

2016-2017 Academic Year

All applicants (Fall 2016 and Spring 2017)	November 15, 2016
All applicants (Spring 2017 only)	March 15, 2017

2017-2018 Academic Year

2016-2017 TAG renewal applicants (Fall 2017 and Spring 2018)	September 15, 2017
2016-2017 TAG renewal applicants (Spring 2018 only)	November 1, 2017
All other applicants (Fall 2017 and Spring 2018)	November 1, 2017
All other applicants (Spring 2018 only)	March 1, 2018

Here at HESAA, we want you to succeed both financially and academically. We hope you will write these deadlines down somewhere that you will see them frequently. Applying early is your best option for not missing a deadline, but you can also ask a family member to help you remember, write it down in a planner or calendar, or you can even set some reminders on your cell phone. There are lots of ways to make sure you get considered for these great New Jersey student financial aid options.

New Jersey Programs Quick Reference

Here is a list of the programs mentioned above. We have included a quick summary of each program. Besides the FAFSA, all of these are New Jersey based programs.

FAFSA – Free Application of Federal Student Aid

FAFSA is a government sponsored program that the largest provider of student financial aid in the nation. It provides student financial aid in the form of grants, student loans and a work-study program.

NJ TAG – New Jersey Tuition Aid Grant

NJ TAG is a state sponsored need-based program that awards grants covering up to the full cost of tuition to those attending select schools in New Jersey. One-third of all full-time students attending school in New Jersey receive grants through the NJ TAG.

Governor’s Urban Scholarship

The Governor’s Urban Scholarship Program, launched by New Jersey Governor Chris Christie in 2012, is a merit-based scholarship program that benefits students in New Jersey’s economically challenged communities.

NJ STARS – New Jersey Student Tuition Assistance Reward Scholarship

The NJ STARS program was created by the State of New Jersey in 2004 to help provide financial aid for New Jersey’s highest achieving students.

NJ STARS II – New Jersey Student Tuition Assistance Reward Scholarship II

The NJ STARS II program provides funding for successful NJ STARS scholars who transfer to a New Jersey four-year public or private college or university to earn a bachelor’s degree.

Common Mistakes Students Make When Applying for Financial Aid

Figuring out how to finance your education can be overwhelming. Not only do you have to figure out all of the different types of aid available, but you also have to juggle applications and deadlines at the same time. Here at the Higher Education Student Assistance Authority (HESAA) we want to help make the process as smooth as possible for you, so we are going to talk about five common mistakes students make when applying for financial aid.

Mistake # 1 – Not Applying at All

This one may seem obvious, but it’s really easy to count yourself out for financial aid simply because you think you won’t qualify. In reality, you have nothing to lose and everything to gain from applying for all different types of financial aid. While you may not qualify for certain types of funding, you might be the perfect candidate for others. Complete the FAFSA form to get started!

Mistake # 2 – Not Applying Soon Enough

Sometimes we fall into the trap of thinking that as long as we apply by the deadline that we have as good of a chance at getting financial aid, grants, and scholarships as those that applied early. However, this isn’t always the case. Financial aid is often awarded as applicants apply and so there may not be as much money left for those that apply right before the deadline. While you can’t guarantee that you’ll receive funding, you can guarantee that applications are submitted early enough for top consideration.

Mistake # 3 – Not Knowing Your Options

Finding success in paying for school comes from knowing the different types of aid available to you. Students often finance their education through a number of different ways including

• Personal savings
• Family assistance
• Federal aid, scholarships, grants, and loans
• Private grants and scholarships
• Supplemental loans
• Working part-time while attending school

Here at HESAA, we encourage you to take some time to research all of the ways you can finance your education.

Mistake # 4 – Not Asking for Help

There are so many people that can help you apply for financial aid. A parent or caregiver is often your closest and best resource, but you should also consider asking your High School guidance counselors, siblings, teachers or other helpful mentors in your life. You may find that specific mentors are best suited to assist you with certain types of financial aid. For example, your parents will be a great help when filling out the Free Application for Federal Student Aid (FAFSA) and may also help you by co-signing for a supplemental loan. In contrast, your High School guidance counselor is one of the best resources for learning about local and national scholarships and grants. Regardless of those you choose to ask for help, the important thing is that you don’t try to go through the application process alone.

Mistake # 5 – Not Having a Contingency Plan

Even if you’ve done everything in your power to get yourself financially prepared for college by saving money, filling out the FAFSA and applying for grants and scholarships you still won’t have a guarantee that you will receive enough funding to cover the cost of college. In these cases, many students will also apply for a federal student loan and/or supplemental loans like the New Jersey College Loans to make ends meet. While nothing is better than free money, these loans still make attending college a possibility.

What is the New Jersey Tuition Aid Grant (TAG)?

At HESAA, our mission is to provide students and their families with financial information and resources to help those wishing to pursue education beyond high school. We have lots of information about different types of student financial aid options on our website, but today we are going to share information about the New Jersey Tuition Aid Grant (New Jersey TAG) program. This need-based grant is one of the most generous programs in the nation, and the program is also one of the most popular. One-third of all full-time students attending school in New Jersey receive grants through the New Jersey TAG.

Support through New Jersey TAG isn’t limited to just full-time students either. Part-time students attending a county school taking between 6-11 credits are also eligible for an award.

What You Should Know About TAG:

NJ TAG Benefits

Awarded grants through New Jersey’s TAG program may cover up to the full cost of tuition. The amount that you receive is based on several things including the cost of attendance, your financial need, and the availability of funds.

Another great benefit is that the grant may be renewed annually as long as you continue to meet the eligibility requirements.

To give you an idea of what the maximum grant awards are for 2016-2017 take a look at the list below:

• County Colleges - $2,680
• State Colleges & Universities - $7,096
• Independent Colleges & Universities - $12,438
• Rowan - $8,080
• Rutgers - $9,468
• NJIT - $10,986

Verify Your Eligibility

Before you apply, make sure you read through the following requirements to make sure you are eligible to receive a grant:

• Have a high school diploma or recognized equivalent
• Demonstrate financial need
• Be a U.S. citizen or an eligible non-citizen
• Be a legal resident of New Jersey for at least 12 consecutive months immediately prior to enrollment
• Be registered with Selective Service (if required)
• Maintain satisfactory academic progress
• Be a full-time undergraduate student enrolled in an approved degree or certificate program

In addition the eligibility requirements, there are a few things that disqualify you from receiving a grant. Take a look at the reasons below and make sure you are eligible before applying.

• You have a bachelor degree or associate degree if enrolled at a two-year college
• You received the maximum allowable number of grant payments
• You owe a refund of a Federal or State grant
• You are in default on a Federal or State loan
• You are enrolled in a program leading to a degree in theology or divinity

Know the Deadlines

The Federal Application for Free Student Aid (FAFSA) must be received (not postmarked) by the federal processor by the dates indicated below to be considered for TAG:

2017 - 2018 Academic Year

• Renewal TAG recipients - April 15, 2017
• All other applicants (fall semester or full academic year) - September 15, 2017
• All other applicants (spring semester only) - February 15, 2018

Apply through HESAA

Applying for the New Jersey TAG is easy. Once you’ve filled out your FAFSA, simply register for an account at HESAA and submit the additional New Jersey questions before the deadline. We’ve done our best to make the application process easy. In fact, we even have an online estimator that will help you estimate your potential TAG award. We encourage you to use this financial planning tool early to assist in your financial preparations.

We hope you have a better understanding of what the New Jersey TAG program is about and what it can potentially offer you. We encourage all qualified students interested in attending school in New Jersey at one of our participating institutions to apply for this grant. If you end up not qualifying for a New Jersey TAG grant, visit HESAA to see what other student financial aid options might work for you.

Student Financial Aid from New Jersey’s HESAA

Getting ready for school? Wondering what is available for Student Financial Aid in New Jersey? The New Jersey Higher Education Student Assistance Authority (HESAA) helps students like you find the financial aid that they need in order to get a higher education. With their mission of “Providing students and families with financial and informational resources for students to pursue their education beyond high school,” HESAA seeks to provide opportunities for that might not otherwise be available through student loans, scholarships and grants.

As you can see in the infographic above, HESAA provides financial aid through many different channels. If you are looking for programs to help you save for college, you may consider looking into the NJBEST program, which helps families plan and save for college.

A popular program used by about ⅓ of New Jersey’s college undergraduates, the Tuition Aid Grant (TAG) program is a need-based grant that may cover up to the cost of tuition based on financial need, cost of attendance, and available funding.

If you are looking for Scholarships, and were part of the top 15% of your class during Junior or Senior year, the NJ STARS program can help you. Created with New Jersey’s highest achieving students in mind, the NJ STARS award can cover the cost of tuition for up to 5 semesters of continuous full-time enrollment in a degree program.

For help getting started, or just to learn more, visit HESAA.org.

Where to Apply for Student Financial Aid

Financing your education can seem like a daunting task. You already know that you should look into financial aid options, but you aren’t sure about where to start. Here at the Higher Education Student Assistance Authority (HESAA) we are here to help you know where to apply for student financial aid. Follow these easy steps and you’ll be on your way to financing your education:

1. Apply for Federal Aid

Complete the Free Application for Federal Student Aid (FAFSA). Federal Student Aid is the largest provider of student financial aid in the nation. It provides financial assistance in the form of grants, loans and a work-study program. There is no age limit to receiving assistance; you simply need to meet all of the eligibility requirements. The FAFSA application is available online and the earlier you fill it out the better. Be sure to visit their website and familiarize yourself with the current deadlines. They even have an Early Estimator Calculator that can help you get a rough idea of an early estimate of your eligibility for federal student aid. They recommend juniors in high school or even those in middle school to use this calculator. Having an idea of the funding that may be available to you early on will help you create a successful strategy for paying for school.

2. Apply for State-funded Grants and Scholarships

Make sure you are also considered for state assistance. When submitting your FAFSA, check to see if your state offers state funded grants and scholarships. Applying for state funding in New Jersey is easy and convenient. After you’ve submitted your FAFSA online, simply register for an account through the HESAA website and answer the New Jersey grant questions. The New Jersey Tuition and Grant Program (TAG) is one of the most generous need-based financial aid programs in the nation. It offers funding for full and part-time students attending select schools in New Jersey. The TAG program also offers an online NJ TAG Estimator to help you see what types of funding may be offered to you. New Jersey also has merit-based scholarships available through the New Jersey Student Tuition Assistance Reward Scholarship (NJ STAR). These scholarships are eligible to those who rank in the top 15% of their class at the end of their junior or senior year of high school who plan on attending select county colleges in New Jersey. In addition to these two programs, there is information about many more state funded grants and scholarships available through HESAA.

3. Look into Supplemental Student Loans

Consider investing in a student loan. There are times when college savings, scholarships, grants and federal loans just aren’t enough. Federally funded student loans, both subsidized and unsubsidized, tend to be the best and most affordable options. However, you may not qualify for these student loans, or you may not qualify for a loan large enough to cover all of your costs. When this is the case, students and their families can begin looking at private & supplemental loans like New Jersey College Loans to Assist State Students (NJCLASS) available through HESAA. HESAA will help you determine if you are eligible for NJCLASS loans. These supplemental student loans are offered to those New Jersey residents who plan to attend an eligible in-state or out-of-state school and to out-of-state students attending an eligible school in New Jersey.

Knowing the types of financial aid available to you can help you start your financial planning early. Having a plan on how you will pay for school is one of the first steps in setting yourself up for success. Following these easy steps will help you make one of the smartest investments in your future.

How to Receive the NJ STARS Scholarship

NJ STARS: New Jersey Student Tuition Assistance Reward Scholarship

Here at HESAA, we understand that it can be financially difficult for families to send their children to college, even if those children are exceptional students. However, Grants and Scholarships (i.e. financial aid that does not need to be repaid) can make that dream much more attainable. The New Jersey Student Tuition Assistance Reward Scholarship (NJ STARS) program was created by the State of New Jersey in 2004 to help provide financial aid for New Jersey’s highest achieving students.

The NJ STARS award can be used to cover the cost of tuition (minus any State and/or Federal grants and scholarships) for up to eighteen credit hours per semester. This blog article should help you understand the basics of the NJ STARS scholarship.

NJ STARS Eligibility

In order to be considered for an NJ STARS scholarship, students must meet the following criteria:

• Be a Resident of the State of New Jersey — The student must be a U.S. citizen or eligible non-citizen who is a legal resident of the State of New Jersey for at least 12 consecutive months immediately prior to high school graduation
• Rank in the Top 15% of Their Class at the end of either their junior or senior year of high school
• Complete a Rigorous Course of Study at the high school level
• Plan on Attending the New Jersey County College in Their Home County — If the student’s desired program of study is not offered at the county college where they reside or is oversubscribed for at least one year, they may attend another New Jersey county college
• Achieve an Acceptable Score on a College Placement Test, Demonstrating College Readiness — If remediation is required, the student must demonstrate college readiness by September 1st of the year following their high school graduation.

For up-to-date eligibility requirements, please refer to the NJ STARS Fact Sheet for the applicable year.

NJ STARS Application

To apply for the NJ STARS award, you will need to:

• Meet All Eligibility Requirements
• Apply for Admission to Your Home County College
• File Your Free Application for Federal Student Aid (FAFSA) Within State Deadlines (see deadlines for the 2017-2018 school year here)

Once these steps have been completed, you will receive notification regarding your NJ STARS eligibility from your home county college.

NJ STARS Renewal Requirements

Qualifying students may receive an NJ STARS award for up to five semesters of continuous, full-time enrollment in a degree program. However, they must meet additional eligibility requirements to continue receiving the scholarship. They must

• Maintain Continuous, Full-Time Enrollment in an Associate Program at Their Home County College
• Take at Least Twelve College-Level Credits per Semester
• File an Annual FAFSA Within State Deadlines
• Attain a Cumulative Grade Point Average (GPA) of 3.0 or Higher by the Start of Their Second Year of Enrollment

Successful NJ STARS scholars who wish to transfer to a New Jersey four-year public or private university or college in pursuit of a bachelor’s degree may be eligible to receive the NJ STARS II award.

When Should I Start Saving for My Child's College Education?

If you’ve ever looked at How Much College Actually Costs, you probably wonder just how early you should begin saving for your child’s college education. Here at HESAA, we wanted to help you answer that question. The truth is that the short answer is:

Start Saving for College as Soon as Possible.

That being said, let’s look at the long answer. Your ability to save for your child’s future education has a lot of influencing factors. First, before looking at saving for college, you need to be taking care of your current financial obligations, including all of your livings expenses and your current debt payments.

Next, you need to determine which savings goals matter most to you.

For example, you may want to figure out if you think it is more important for you to save for your child’s college education or for your own retirement. For many, saving for retirement takes precedence over college savings because they don’t want to become a financial burden on their children later in life and there are other financial opportunities that can help pay for college that are not available for retirees. Many financial advisors also suggest that you have a “rainy day” fund with 3-6 months worth of income in it and an emergency fund for large, unexpected occurrences like car repairs or medical bills.

You can, of course, start saving in each of these areas, because saving for one does not preclude saving for the others. However, determining your priorities will help you decide how much you can put into each savings category.

Why Should I Start Saving Early?

It is our opinion, however, that you should begin saving for your child’s education while they are still young. You may not be able to save enough money to pay for college outright, but anything you are able to save doesn’t have to be made up later using Grants, Scholarships, or Expensive Student Loans.

Interest Rates Make a BIG Difference.

Another reason to start saving early is that the length of your investment, coupled with compound interest adds up. Looking at a few savings examples will help illustrate why saving early can pay off.

If you start saving for college when your child is born and save $100 per month in an account that receives 1% compound interest, by the time your child turned 18, you would have invested $21,600, resulting in nearly $23,800 after interest.

On the other hand, if you wait until your child is 5 years old to start saving and put the same $100 per month away with the same 1% interest rate, you will have invested $15,600, resulting in close to $16,800 after interest.

In these examples, saving sooner resulted in much higher investment levels, of course, but the additional interest also resulted in an extra $1,000. If you are able to find a higher yielding investment, that difference grows exponentially. If we look at the same $100 per month investment at a 3% interest rate, it would result in over $28,800 over 18 years or just over $19,200 over 13 years.

As you can see, starting to save for your child’s education early can make a big difference in how much you can help them pay for college. Here at HESAA, we want to help you Plan for Your Child's Future. If you’re ready to start saving for you child’s future, you may want to look into qualified tuition plans like NJBEST, New Jersey’s 529 College Savings Plan.