August 2020
Five Things We Want You to Know as
We Kick-Off a New School Year
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On August 4, FAME held a virtual training, Financial Aid 101, for our partners who work with students. During that training we shared information to help people get ready for the fall, specifically in this more virtual and COVID-19 impacted climate. We hope you find our biggest takeaways helpful wherever you are on the path to higher education!
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1. College Students – If Your Situation Has Changed, Appeal Your Financial Aid Offer
If you are one of the many college students whose families have experienced a recent change in income or circumstances that is making it harder to pay for school, be sure to discuss your situation with your financial aid office. Check out FAME’s Steps to Appeal a Financial Aid Offer to learn more about financial aid appeals, including next steps and tips to help navigate the appeal process.
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2. High School Seniors and Families – Get Ready to File the FAFSA
The FASFA for the 2021-2022 academic year will become available on October 1, 2020. Students, start getting ready now by creating your Federal Student Aid account and setting up your FSA ID. The FSA ID is the username and password used to access all Federal Student Aid websites, including FAFSA.gov. All students need their own FSA ID to access and sign the FAFSA. One parent of a dependent student will also need to create an account and set up his or her own FSA ID to sign the student’s FAFSA. Go to StudentAid.gov and click on “Create Account” to get started and keep track of your information using FAME’s FSA ID Information Tracking Sheet.
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3. Financial Aid Seekers – Know That FASFA Completion Help Will Be Available
Starting in October, FAME will be offering sessions to help students and their parents complete the FAFSA. Given the ongoing health concerns associated with COVID-19, we are still working out the details related to meeting structure and format. Once sessions are scheduled, information will be posted on FAME’s Events page. Additionally, Online FAFSA Help, including videos and FAQs, is always available at FAMEmaine.com/FAFSA.
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4. Federal Student Loan Borrowers – Understand When Student Loan Payments Will Resume
If you are a borrower whose been taking a break from your student loan payments as a result of COVID-19 related legislation, you’ll need to resume making your payments soon. Currently the suspension of payments is scheduled to end on September 30, 2020. Be sure to watch for information from your loan servicer. Also, now is a great time to visit StudentAid.gov to review your repayment plan options to make sure that you resume payments, you are in the plan that works best for your current situation.
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5. Adult Learners and Anyone Considering Higher Education – Check Out FAME’s Resources
Are you or is someone in your life interested in starting or returning to school? If so, FAME has resources available to help no matter where you or those in your life are on the pathway to higher education. Visit FAMEmaine.com to learn more about preparing to pay for higher education and to access resources including downloadable publications, short videos, tools and calculators, financial education resources, and even a scholarship search.
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FAME is here for you now and will continue to be throughout the entire year. If you have any questions or concerns, give us a call at 1-800-228-3734, send an email to our Customer Service Team, or email any of the members of FAME’s College Access and Financial Education Team directly. We’d love to hear from you! And if you are interested in viewing any of the sessions or seeing the resources shared at FA101, visit FAME’s FA101 Google site.
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FAME's College Access and Financial Education Team:
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The Finance Authority of Maine (FAME) does not discriminate in the administration of any of its programs or in its employment practices on the basis of race, color, national origin, age, gender, religion, physical or mental disability, political affiliation, marital status or sexual orientation. FAME is an equal opportunity employer, provider and lender.
FAME provides links to other websites as a convenience and does not endorse or guarantee the content accuracy or usability of such sites.
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