COLLEGE FUNDING OF THE ROCKIES
January 2005 Client Newsletter #58
699 Summit Blvd., Unit K
P.O. Box 4788
Frisco, CO 80443
Tel: (970) 668-8100 Fax: (970) 668-5861
Email: collegef@vail.net
Website: www.collegefundingoftherockies.com
Norma Jordan-Backe
“I don’t know the key to success, but the key to failure is trying to
please everybody.” Bill Cosby
WHAT ARE WE ALL ABOUT, ANYWAY?
Dear College Funding of the Rockies Member and Friends:
Welcome to the new year and all the madness that goes along with it. I want this
month to address a couple of things that have surfaced recently and are perhaps a bit
troubling for some parents. In addition, we are going to talk some more about the
voucher program here in Colorado along with other bits of interesting information for
all of you.
As many of you know, in the fall, the Department of Education changed the
rules for electronic filings of the FAFSA form when it comes to third parties completing
the forms. Because of this change, although we could fill out forms online, we were not
allowed to use the PINs to sign for parents and students, even with authorization from
the family. For this reason, we printed out signature pages which were then mailed to
the families for signatures and then sent on to the Department of Education so that
the processing of the forms could be completed.
I recently had someone ask me if there was a reason for the change wrought by
the Department of Education. Yes, indeed, is my reply. And part of that reason was
pointed up, at least partially, in a recent article from the Associated Press on “financial
aid scams.”
There have always been, and sadly always will be, businesses who simply do not
operate within the boundaries of decency and fairness. There are companies who
choose to take unfair advantage of individuals. In our business, that is College
Funding, there are unfortunately a certain number of such companies as well.
While I certainly do not agree with all of the statements made in the article, one
assertion stands clear: you must be wary of companies that promise a financial aid
package. It is absolutely out of the hands of a consulting company how much will be
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offered in an aid package. What we at College Funding of the Rockies promise is to
show families ways to lower Expected Family Contribution, when that is possible—and
it is possible in many, many situations, regardless of what the article from AP says—to
complete forms on time and accurately, and to be the family’s advocate throughout the
process.
In my six years in the college funding business, I have found over and over again
that many families are quite relieved to have someone assist them in this confusing
and time-consuming sector of preparing for college. We take very seriously the position
we fill for busy and overburdened parents.
I do not see the changes from the Department of Education or the article from
the Associated Press as bad things. These are some of the growing pains of a new
industry—an industry that is only about 12 years old. Definitely, it is an industry in
need of some regulation. Regulation is good to help weed out the folks who are not
committed to this industry and who will not want to comply with new ways of doing
things—albeit, more complicated ways in the beginning, but beneficial to the
consumer.
We here at College Funding of the Rockies will continue to conduct business and
work for families according to the highest standards.
Voucher News
There seems to be a lot of confusion about the new voucher system here in
Colorado. I am still surprised to talk with a lot of parents of seniors who are not even
aware of the vouchers! Probably the use of different names for the program is partly to
blame for that confusion. You may hear it referred to as the Voucher Program, Stipend
Program or the Colorado Opportunity Fund.
Last spring I expressed in this forum my dissatisfaction with the entire dog-and-
pony show. I am still dissatisfied, but it is now a reality and we must be certain that
qualified families can take advantage of these funds.
The Voucher Program is not financial aid. Your FAFSA form has nothing to do
with this program. There is a separate application process to assure your student
voucher funds. It is not need-based. For those of you who are currently working with
us, we will file these applications for your students if they have applied to Colorado
colleges.
Up to $2,400 each year is available to students who have applied for the voucher
and attend college in Colorado. These funds will be sent directly to the college to be
applied to the student account. The amount credited depends upon how many credit
hours the student is taking—the credit is expected to be $80 per credit hour, up to a
maximum credit of $2,400 per school year.
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Students enrolled in private colleges in Colorado will qualify for reduced voucher
funds. Restrictions apply for certain courses in the public schools.
Just a note for parents who already have students in school: your student can
qualify for these funds the same as new students. It is not retroactive, but will apply
for any additional years your student is in school.
One more bit of good news: It is not necessary to apply for this program every
year, the way we have to for need-based financial aid. It is a one-time application! Now
that really is good news.
Here is the website for information and to file: www.collegeincolorado.org.
Remember, if you are already working with us, we will be making this
application for your student.
In-State Tuition
It has been a real roller-coaster this year, with the voucher program and the
state universities requesting tuition increases of 13 and 21%. But a couple of weeks
ago, we got some really good news:
Tuition increases at Colorado state colleges and universities will now be limited to
rate of inflation, unless a school is able to justify a greater increase. This is a 4-year
agreement that will extend until the 2008/2009 school year. Note: Colorado School of
Mines is not part of this agreement.
Client’s Corner
Signature pages have been sent out for the FAFSA forms, along with stamped
envelopes to send these on to the Department of Education. Hopefully, you have all
signed those and mailed them. If you have not, please take care of that right away! If
you have not received your signature page from us, call us right away. Until the
Department of Education receives that completed signature page, they cannot process
your application. This is very essential!
Also, in a few weeks, you will receive your Student Aid Report. Again, because of
the changes this year, we will require that Student Aid Report so that we can make
changes such as final financial numbers when your taxes have been filed or to add
colleges.
If we have filed CSS Profile forms for you, we were able to do everything online
and do not need signature pages, etc.
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Client of the Month
A great big Thank You goes out this month to Michaela Cassidy. Michaela has
kindly passed on information on College Funding of the Rockies to friends and family
who have benefited from her care and concern for their challenges as parents of college
students. Thank you, Michaela.
A New Year at the Hut
The holidays are great, but I am always glad when they are over. I don’t know
what is more exhausting, work or holidays!
Just like many of you, we had our college student home for Christmas. It was
great, and even greater since she had already finished first semester! No mad
scrambling to finish papers or study for finals.
Now we are enjoying our good snow and looking for opportunities to get out and
ski, just like the rest of the world! Nic is hoping to begin his ski season in February,
after a clean bill of health on his knee. He has been coping with a 30% tear in his
quadriceps tendon since early November, but he is on the mend.
In Closing
Check the website for upcoming College Funding Workshops for this spring. We
are currently setting up late February, March and April workshops.
Thank you all for your calls letting us know where your kids have been accepted
to college. We love to share in the excitement!
Until February
Norma Jordan-Backe
Your College Funding Specialist
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