Speaker 1: All right, Richard, I want you all to know that more than $120 billion in federal financial aid is available for the 2021-2022 school year. So college financial aid season has started October the 1st. And if you want to beat the deadlines, you need to pay attention to this. Our money expert, Janai Thorne, is here to answer our financial aid questions. Good morning, Janai. Hey, good morning, Richard. Janai, happy to have you this morning. You got a whole lot of stuff going on right here now. Janai, what are the financial aid deadlines for 2021-2022 school year?

Speaker 2: I know a lot of parents, it's kind of hard for them to understand that they just got their kids settled in school, but now it's time to start applying for financial aid for next year. So you're right, it's 2021, the 2022 school year. So when we think about our kids going back to school in August or September of next year, but the forms that came available, Ricky, October 1st. So that's why it's important that people go ahead and apply right away.

Speaker 3: Janai, real quick, this word is thrown around a lot in college when you're trying to get financial support, FAFSA. Can you please explain what FAFSA means and what website people can go to to complete?

Speaker 2: Okay, so the FAFSA, that stands for Free Application for Federal Student Aid. So when we think Pell Grants, when we think work-study, when we think even student loans, this is the first step to get to any of that money. And there's only one website that people need to go to. You never pay to complete these forms. You don't have to go through another company. You go directly through the federal government. And that website is FAFSA, F-A-F-S-A dot E-D dot gov. And, you know, it's really important. Even if you have a high school senior, you have no idea where they're going to go to college. You need to fill out these forms right now. Even if you're not sure that you qualify for financial aid, you need to complete the forms right now. So you're going to use your 2019 tax return. And that's one thing that I love. Because, remember, when we were in college, you couldn't even fill out the forms to January. So several years ago, they pushed the deadline up until October. So that gives us more time. You're going to use your 2019 tax return. And I need you to complete the forms completely. You don't have to do them because until they're complete, you're not going to get awarded money. Because people don't realize this money is actually first come, first serve. Right. So I don't care how much need you have. That's why I need you to get them done. And, again, it's October 26th. That money became available October 1st. I need people to apply. Make that commitment. And please have your forms in no later than Thanksgiving.

Speaker 1: Right.

Speaker 2: Go ahead, Marielle.

Speaker 4: Yeah, what advice would you have for parents or students completing financial aid forms for the first time?

Speaker 2: So if you're completing forms for the first time, please schedule time in your calendar to do it. So no interruptions, no social media, no TV. Get focused. Other thing, get familiar with the forms first. So take some time. Review what's expected of you, what documents you have to pull. And then schedule a time maybe a couple of days later to actually sit down and complete the forms because it can be a little overwhelming. So if your child lives between two households, the parent who the child spends the majority of the time with, that's the parent who needs to complete the form because I know that can be confusing for families as well. And the other thing that a lot of parents don't realize, say you complete the forms and they tell you how much money they're going to give you in financial aid, and you're like, there's no way in the world. We should have qualified for more. You can actually appeal a disappointing aid package. And a lot of people don't know that. They think you get that package and you have to stick with it. You can appeal directly with the school. You're not going to do that through the federal government, but you can actually appeal to the school. And one more thing I want people to think about. Remember, you're going to use your 2019 tax return, but maybe you lost your job in 2020. You can provide what's called a supplementary letter, and it can explain your circumstance. Maybe someone in your household is sick. Maybe someone passed away. Maybe someone's been laid off. Your 2019 tax return may not reflect what your life and income looks like today. But again, you can include a supplementary letter with your FAFSA forms. Of course, all this is going to be done online to help explain your situation. You want the school and you want the federal government to know everything that's going on with you right now.

Speaker 1: Right. Now, what else should families be doing now other than completing the FAFSA?

Speaker 2: You know what, Ricky? What's interesting to me, I hear from parents all the time who are busting their behinds, working hard to get their kids in school. I rarely ever hear from any kids. So it's not y'all's education. It's their education. It is really important for students to be looking for scholarships. This is the time where you need to make sure your grades are everything right now, whether you're a high school senior or if you're already in college. But look for the money. You're on campus. Find out what money your department has. What scholarships are they providing? What do you need to do to qualify? But we have gotten so used to our kids getting student loans. That's just become the norm. So I think we need to set a new standard. No loans. What are we going to do? What school can we go to that we can actually afford, number one? And then what else can we do? What community scholarships? How do we need to have ourselves together so we can apply for this additional money that we don't have to pay back?

Speaker 1: All right, y'all. Ladies and gentlemen, we got the one and only Janiyah Thorne with us. Thank you so much for providing that information. Janiyah, let everybody know how you can be reached if they have any questions.

Speaker 2: My pleasure. If anyone has any questions, please reach out to me and follow me on social media at Janiyah Thorne. That's J-I-N-I-T-H-O-R-N-T-O-N. Y'all have an amazing day.

Speaker 1: Hey, Special K, wouldn't it be nice to have somebody like that in your life, that new math and financial aid and money? Just like Janiyah. Janiyah be walking through here with her perfume on. Oh, yeah. You raise everybody's standards. Nice hat. Yeah, yeah. Nice hat, a.k.a. She raise everybody's standards. All that. All that. On point. Just math.

Speaker 2: Just know them numbers. Well, I appreciate that and happy to help. I'm so happy to help. We got to help our people out.

Speaker 1: And then got Osara on the major ticket. Come on, Janiyah.

Speaker 2: Come on, Tuskegee. That's what I'm talking about. Come on. That's what I'm talking about.

Speaker 1: Yeah, Janiyah, you know how to do fractions and all that stuff.

Speaker 3: Add some more points and all that. See, now you're going too far. Now you're getting too carried away now. Uh-oh. Uh-oh. Too carried away now.