What a Government Shutdown Means for Your FAFSA

You’ve probably heard people talking about the government “shutting down.” Here is what it actually means for students trying to pay for college using the FAFSA

You Can Still Fill Out the FAFSA

Even during a government shutdown, the FAFSA website usually stays open. It’s considered an essential service, so you can still go online, fill it out, and submit it like normal.

There Might Be Some Delays

Here’s where a shutdown could make things a little slower. Some Department of Education employees might temporarily not work or get paid.

If that happens, FAFSA applications could take longer to process. And if the IRS is also affected, the Data Retrieval Tool — the part that helps pull in your tax info automatically — might not work right away. That could mean more waiting or having to enter info manually.

Your Aid Money Should Still Come

If you’re already getting financial aid for college your money should still arrive. Schools can still give out funds that were already approved.

But if the shutdown lasts a long time, it might slow down the process for new payments or reimbursements. So, while most students won’t notice much at first, a really long shutdown could eventually cause delays.

Some Verifications Could Be Slower

FAFSA checks certain things with other government systems — like tax info from the IRS or your Selective Service registration (for guys). If those systems are short-staffed, those checks could take longer than usual. Which will again take more time.

What You Can Do

Here are a few ways to stay on top of things during this shutdown:

  • Submit your FAFSA early. The earlier you apply, the better your chances of avoiding delays.
  • Check your email. If your school or FAFSA needs more info, respond fast so nothing holds up your aid.
  • Stay updated. Your school’s financial aid office will share any major updates if the shutdown starts causing problems.
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National Wellness Month

August is National Wellness Month, which was founded to encourage people to focus on their health – self-care, stress management, and healthy routines. But financial health is a big part of a person’s overall wellness too. Financial issues contribute to stress, put strain on relationships, and diminish self-esteem. Addressing your finances during National Wellness Month can help you address the core causes of your personal wellness challenges. As you participate in National Wellness Month, take time also to focus on your finances – commit to taking action on at least one financial area that you feel may have impact on your overall health and well-being.

It’s That Time of the Year Again!

No, not holiday season but scholarship season! UW Whitewater’s scholarships for 2024-2025 school year will open on December 1, 2023. The scholarships are now viewable in the students WINS account and can be searched by the students college (Letters & Sciences) or non applicable. We suggest students search in both areas to maximize their opportunity for scholarships and apply for all they can. Scholarships are free money and who wouldn’t want free money to go to school! PLUS the more scholarships awarded the less student loans a student will need.

But…don’t stop the search there! Students check with your family members to see if the company they work for has any scholarships available. Check with in your home town to see if any business’s, local Moose Lodge, VFW Hall etc. are awarding scholarships.

Lastly don’t forget to search for scholarships this spring online. UWW’s financial aid office as a list of safe scholarship websites. For more information on scholarship scams go to: https://consumer.ftc.gov/articles/how-avoid-scholarship-financial-aid-scams

Good Luck!

Impulse Spending is on the Rise!

In a recent survey Sarah O’Brien a Personal finance reporter found that 45% of the respondents know they are overspending since last reported in April 2021.  Credit card debit is at nearly $1 trillion in 2021 and is climbing.  Below are some tips to help/curb the overspending urges:

1. Start a budget or if you already have a budget it is time to re-evaluate your current budget.

2. Think about your goals: to be debt-free, go on vacation, buy a home and write them down and before you act on your spending look over your goals.

3. Leave the item in your shopping cart for at least 24 hours.  Do you have the strong need for the item or have you forgotten about it?

4. Unsubscribe from marketing emails.

5. Take your credit cards off of your apps on your cell phone.

Pick one, two or all of the above tips and implement a plan to work towards your goals and improve your overall financial wellness.  Take charge of your finances now to set yourself up for future success and freedom.  For more information or to set up a financial coaching session, contact the UWW Financial Literacy Center.