What Is Financial Aid-Financial Help For Seniors

What Is Financial Aid-Financial Help For Seniors

Old age brings with it, if you are financially not stable, the necessity to find help from government and other sources. The life retirement can be very difficult for those who have not planned for it properly. As the senior citizens run out of money, it becomes difficult for them to sustain and spend rest of the life after retirement. There are few financial assistance programs which the senior citizens can benefits from. Let us find about financial help for seniors in detail through this article.

Financial Help for Senior Citizens

The options of financial help for elderly people are provided in the paragraphs below. These programs and benefits are useful for seniors citizens since, they are left with limited source of income in their old age.

Social Security: The benefits of social security can be availed by people who have worked for minimum 10 years. These people are eligible for retirement benefits. Spouse of person who has worked for 10 years can avail the dependent benefits. The disability benefits are also offered through the social security program. If a person becomes disabled before his retirement age, he/she can avail these benefits. If a retired citizen and his/her spouse both have worked for minimum 10 years, the couple can avail double-benefit. It means that both retirement and dependent benefits are offered to them to smooth the rest of their days.

Tax Advantages: There are few tax advantages/benefits enlisted in the IRS tax code which are useful for senior citizens. Those elderly/senior citizens above the age of 65 years and who have filed either of the tax forms, 1040 or 1040A can benefit from the tax credit called 'Credit'. People over the age of 60 years can receive counseling from volunteers that are IRS trained and they also get help pertaining to free tax return preparation.

Government Programs: The 'Low-Income Home Energy Assistance Program' (LIHEAP) provides financial aid for seniors in the form of grants in order to pay utility bills. Discount for senior citizens is given in the process of availing services such as the telephone, water, garbage collection, satellite TV, cable, etc. One must provide the age-proof in order to gain the discount benefits.

Prescription Assistance Programs: People who cannot afford to pay for prescription drugs can benefit from this financial help for seniors. The 'Patient Assistance Program' (PAP) is offered by pharmaceutical companies. Doctors and pharmacists can help in gaining more information about such programs.

Senior Farm Direct Nutrition Program: The 'Senior Farm Direct Nutrition Program' (SFDNP) is used for providing senior citizens with checks. These checks can be used in purchasing Oregon grown vegetables, fruits and other herbs. Senior citizens interested in the program have to apply for it. Applications are processed at the SPD (Seniors and People with Disabilities) central office.

Senior Financial Care: It is a counseling program for senior citizens over 60 years of age. The different tasks in which senior citizens can be provided with assistance are bill paying, monthly expense management, bank statement reconciliation, credit counseling, medical insurance counseling, reverse mortgage counseling, credit counseling, fraud awareness, debt repayment and information referral. Information about obtaining financial help for seniors can also be found. The information about senior citizen discounts should also prove to be helpful.

The information about financial help for seniors is presented through different programs and schemes. Apart from the social security program and other government programs, there are private sources of funding and concessions available for senior citizens.

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Source:http://www.buzzle.com/articles/financial-help-for-seniors.html

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How to Write an Appeal Letter For Financial Aid-Sample Letter For Financial Aid

How to Write an Appeal Letter For Financial Aid-Sample Letter For Financial Aid

A financial aid appeal is a formal written request to have your financial aid package reviewed and increased due to some changes beyond your family control that have occurred after processing of your FAFSA (Free Application for Federal Student Aid) or that were not reflected in your FAFSA.

If you are experiencing the following hardship and changes in circumstances, then you may appeal for a financial aid.

Sudden significant change or drop in family income that may be due to loss of job, disability, retirement or homelessness

If you or your parent becomes widowed, separated, or divorced after the filing of FAFSA

If any of the medical expenses paid by you that were not covered by insurance and not likely to be covered by insurance in the future

Either you or your parents have suffered personal bankruptcy, significant and unexpected disability or medical cost

If you are a parent, and you need childcare expenses in order for you to attend classes

If you are doing some research, internship, or field study and need additional finance

You are unable to bear the transportation cost

Any other unavoidable circumstances outside of your control (for example, increase in on-campus boarding costs, expenses related to special education needs of a brother or sister)

If you are facing any of these above situations, then you are eligible to make an appeal for financial aid through writing an appeal letter. Follow the instructions while writing your appeal letter.

Instructions on How to Write an Appeal Letter for Financial Aid

Address your appeal to the concerned person. Call the school and get the name of the head of the financial aid committee. This will make the person feel that you have taken efforts to know about him and how serious you are for the financial aid.

Thank the school for its current offer or financial aid even though it may be a fraction of what you need. In the opening sentence, mention the amount of assistance and thank the committee for their generosity. Include the fact that you are still unable to attend the school as you are not in a position to arrange the remaining portion of the fund needed.

In the next paragraph, explain your condition. This portion is critical as it will allow the financial aid committee to reconsider your appeal. Provide the facts to illustrate your situation. If the school has granted the aid considering your parent's income, explain how insufficient that income is to take care of your educational goals.

Mention the amount the school requires your parents to pay, or have suggested taking out an education loan. Then state the reasons why it is not feasible. It could be a mortgage, home loan, medical bill, etc.

Express the need for a higher financial offer and your inability to attend the school in the absence of the grant. Putting the right word is important. You can write, "I really appreciate your generosity, but I am afraid to let you know that I won't be able to pursue my education, unless my financial aid offer is substantially higher".

These instructions on how to write an appeal letter for financial aid will help you to express your situation that may fetch you an additional financial aid. However, it is totally up to the financial aid committee to deny or approve your request. Just be kind and humble in your letter.

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Source - http://www.howwriteletter.com/appeal-letter/how-to-write-appeal-letter-for-financial-aid.html
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