by Natala K. Hart

Dropping Classes
If you need to drop a class and especially if you withdraw completely or drop below full time status, your financial aid will be affected either that term or in the future. There is no single bit of advice about what will occur if you drop classes, so be sure to contact a financial aid counselor before dropping below full time. You also can contact a counselor through our email address: finaid@osu.edu

Apply on Time
Many students have heard a myth that “billions of dollars of scholarships go unused.” This is not true. What is true is that students lose dollars because they fail to apply or do not apply on time. Make a note now that March 1, 2004, is a critical deadline to have your Free Application for Federal Student Aid (FAFSA) filed.

We noticed this year a high rate of students who waited until after filing their own or their parents’ tax return before completing the FAFSA. It is crucial that you file the FAFSA even if you estimate the values before completing the IRS tax process. Don’t miss out on aid because you file late.

Avoid Credit Cards
There are several good reasons to have a credit card for emergency purposes. In studying the issue of credit use, we can find no good reason to have more than two credit cards of any type. Data from our faculty shows that students (and others) who have two or fewer credit cards rarely get into trouble managing their credit card debt. Those with six or more often get in trouble managing their payments. Sadly, there are students who drop out of college or get poor grades because they are distracted by high credit card debt.
If you have questions about credit card use, a financial specialist is available at no cost to you. He can advise you on budgeting, responsible credit card use, and planning for debt repayment. To make an appointment, contact Dr. Larry Christopherson at 247-7218, or christopherson.9@osu.edu.

We’re Here to Help
If you have questions about these or other financial issues, please send us an email, call or set up a counseling appointment. Our job is to provide financing so you can focus on obtaining a great OSU education. Best wishes for a great year ahead!