Helping Kids Pay for College

Patricia Gantuah had every intention of going to college -- whether she received financial assistance or not.

“There was no yes or no to college. It’s definitely a yes,” said Gantuah, an 18-year-old senior at Barringer High School.

As it turns out, however, Gantuah did get the financial aid that will enable her to attend one of the schools on her list, exclusive institutions like Seton Hall University, Smith College and  Northeastern. Born in Ghana, Gantuah plans on studying biology and hopes one day to become a pediatrician.

Gantuah was able to secure the funds for her continuing education partly thanks to “Financial Aid U,” a collaborative effort by Newark Now, the Newark Public Schools and Citi Community Development that helps parents and students negotiate the daunting process of applying for grants and loans to pay for college.

Mayor Cory Booker, Superintendent of Schools Cami Anderson and other guests gathered at the Barringer school library today to celebrate the success of the Newark chapter of the program, which is second only to Chicago in the number of students served. More than 600 Newark students took part this year, up from just 155 when it started here four years ago, said Jeremy Guenter of Newark Now.

“I know for a fact we have students who if given the right support can excel at every level in an academic framework,” Booker said.

Anderson illustrated the importance of higher education by citing statistics on the average wages of high school graduates versus those who earn a college degree.

“What’s the difference between $19,000 a year and $58,000 a year? College,” Anderson said to the students at today’s ceremony.

Financial Aid U is part of a larger effort to teach students financial literacy as well as provide adults with free tax assistance, said Guenter. Participants learn about loan terms, interest rates, credit and ways to maintain a solid financial footing.

Financial Aid U is also intended to address a common misperception among some lower-income families, who believe higher education is out of reach, Geuntner added.

“A lot of people won’t even apply to college because they feel they can’t afford it,” Geuntner said.

In fact, many Newark students qualify for substantial financial aid, from grant programs as well as low-interest, subsidized government loans, Geunter said. Many students, scared off by the high sticker price of college, even leave aid money on the table: in 2007-08, 40 percent of community college students eligible for Pell grants had not applied for them, Geunter said.

“Most of our students qualify for the full Pell grant. In-state students can also get tuition assistance grants from the state of New Jersey,” Geunter said, adding that many are eligible for full tuition assistance. That aid does not include room and board or other incidentals.

Another hurdle that had to be overcome was the reluctance of some parents to provide the private information, like Social Security numbers, necessary to fill out the FAFSA, the application for federal financial aid. Newark school counselors worked with parents to reassure them that such information remains confidential.

Also pitching in were volunteers from Citi Community Development, said Helen Steblecki, a vice-president with the 200-year-old bank. Along with providing financial assistance to Financial Aid U, Citi volunteers work with families to help complete financial aid applications accurately, maximizing their chances of receiving monetary help for college.

“Helping people better their financial status is better for us,” Steblecki said. “It directly relates to what our mission is, supporting financial education.”