/General/General%2012.png?width=1280&height=853&name=General%2012.png)
Most Univision Communciations employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Univision Communciations employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Univision Communciations employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Univision Communications?
The 401(k) plan at Univision Communications is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can I enroll in the 401(k) plan at Univision Communications?
Employees can enroll in the 401(k) plan at Univision Communications by completing the enrollment form available through the HR portal or by contacting the HR department for assistance.
Does Univision Communications offer a company match for the 401(k) contributions?
Yes, Univision Communications offers a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions outlined in the plan documents.
What are the contribution limits for the 401(k) plan at Univision Communications?
The contribution limits for the 401(k) plan at Univision Communications follow the IRS guidelines, which may change annually. Employees should refer to the latest IRS announcements for current limits.
Can I change my contribution percentage for the 401(k) plan at Univision Communications?
Yes, employees can change their contribution percentage for the 401(k) plan at Univision Communications at any time by submitting a request through the HR portal.
What investment options are available in the Univision Communications 401(k) plan?
The 401(k) plan at Univision Communications offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles, allowing employees to choose based on their risk tolerance.
When can I access my 401(k) funds from Univision Communications?
Employees can access their 401(k) funds from Univision Communications upon reaching retirement age, or under certain circumstances such as financial hardship or termination of employment, subject to plan rules.
Is there a vesting schedule for the company match in the Univision Communications 401(k) plan?
Yes, Univision Communications has a vesting schedule for the company match, which determines how much of the employer contributions employees are entitled to based on their years of service.
What happens to my 401(k) plan if I leave Univision Communications?
If you leave Univision Communications, you have several options for your 401(k) plan, including rolling it over to another retirement account, leaving it with the plan, or cashing it out, subject to taxes and penalties.
Can I take a loan against my 401(k) at Univision Communications?
Yes, Univision Communications allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan documents.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)