Orionna Brumfield
Staff Writer
The types of financial aid, how to use loan money wisely, grace periods, student loan repayment, resources, and reminders about reapplying for financial aid were all discussed at the Money Matters seminar held on Feb. 9.
Many students are unaware of what they are signing when they accept loans, grants, and even scholarships and the Financial Aid department at Jackson State University wants students to understand the terms and conditions that must be met when they accept this aid.
B. J. Moncure, Director of Financial Aid at JSU, spoke with students during the seminar. Moncure stated that many students are unaware of these topics because their parents complete the financial aid for them. She added that students may not completely understand the severity of an agreement, and they have to learn how to plan for life during and after college.
“These events are very important for all of our students applying for financial aid. This will give them an insight about the opportunities we have here at Jackson State. It also gives additional information if they do not have enough financial aid to cover their costs” said Moncure.
Moncure discussed financial aid for undergraduate and undergraduate students. Undergraduate students can receive a maximum of six years of financial aid while the government pays the interest; this is called a subsidized loan.
Any undergraduate student is eligible for this loan as long as there are in good standing with their school, have no criminal record, and have completed an online application.
Graduate students are not able to receive unsubsidized loans. They have subsidized loans which require them to pay the interest without any assistance from the state.
Nekitress Mitchell, a senior health care administrator from Holly Springs, Miss. said, “I’m going to search into a lot of scholarships because I don’t want to pay anything for graduate school. I don’t want to take out any more loans because I already took one out when I came to Jackson State.”
Mitchell was unaware of the differences between unsubsidized and subsidized loans. Although she is graduating this semester, she now knows the various ways to still pay for school without taking out loans once she goes to graduate school.
“Now that I know about the interest which helps out with the subsidized, I’m going to search within my department and look on websites for different scholarships. I’m also going to save up in case I do have to take out some money for a loan,” said Mitchell.
The seminar was held for transfer students, but other underclassmen attended the event. Briana Marshall, a sophomore mathematics education major from Jackson, Miss. understands how important it is to go ahead and pay back loans as soon as possible. Marshall wants the school to do a better job spreading information about financial aid.
“When you come into college, they really don’t give you a lot of information like they’re supposed to. I was fortunate to have my English teacher from high school give us pages full of scholarships. You try to research the difference between loans, but I tired and it gave me a headache,” said Marshall.
Tai Shelby, Coordinator of Transfer Programs and Scholarships, wants to encourage students to attend these kinds of seminars and she is planning to have another event directed to all students next semester.
“It was even an educational session for me, and I’m a mother of two. For students who are in college now, this is the time to get information,” said Shelby.
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