Recession spurs scholarship fund

In light of current economic troubles, the university anticipates more students will require additional financial aid to remain enrolled. In response, Student Financial Services has established a new fund to assist students in need.

Student Financial Services has designed the Academic Year, AY, Fund to help both graduates and undergraduates whose financial circumstances have been negatively impacted by the recession.

Money from the AY Fund will supplement any scholarship money or financial aid that a student has already received from the university, the government, or other external parties, as determined by merit or the 2009-2010 FAFSA.

The total scholarship could be anywhere from $1,000 to $5,000, but any grant larger than $3,000 requires approval from the Student Financial Services administrators.

Janet Cantelon, director of Student Financial Services, and James White, associate provost of Enrollment Services, established the AY Fund when it became apparent that some students might need additional financial assistance.

"It's common for the financial situations of many students' families to change over the course of four years," Cantelon said. "This fund will help those families push through their financial problems, especially in these difficult times."

The university has set aside approximately $250,000 from funds the university gets from tuition to start the AY Fund.

Cantelon and White sent a school-wide e-mail two weeks ago providing details on how to apply for additional financial assistance. According to the e-mail, "any student who is finding it difficult to cover any academic expenses may contact a financial services counselor."

Part of Cantelon's reasoning for the fund was that students need to be able to fund not just their academic experience, but their entire educational experience.

"There are a number of opportunities at Seattle University beyond those in the classroom," Cantelon said. "We want to make sure that every student is given the chance to pursue an education at Seattle University, regardless of their financial situation."

Each of the seven financial aid counselors is assigned a particular group of students, determined by the first letter of the student's last name. The counselor evaluates the individual hardships of the student, which could range from decreases in income, a loss of scholarship money or the loss of a job.

If external opportunities, such as federal aid and non-Seattle U scholarships, are unavailable for the student, then the counselor requires documentation and financial notices of the student's need in order to justify the withdrawal of funds from the AY. This could include copies of final paychecks or a signed letter from a financial adviser.

Once the AY Fund becomes the final option for the student, the counselor is then cleared to temporarily assign additional financial aid to that student. All grants are awarded on a quarterly basis, but students can reapply in between quarters.

"This money will certainly help us to do our jobs in helping students," said John Wilkins, a financial aid counselor who usually sees about 30 students per week regarding their finances. "It's limited in dealing with major financial crises, though, and we can only help so many students with this new money."