FINANCIAL AID 101 Berennisse Behr Financial Aid Counselor Scholarship Coordinator Western University of Health Sciences

Topics to be Covered What is Financial Aid Applying for Financial Aid Types of Financial Aid Financial Aid Offer What To Do Now

Applying for Financial Aid FAFSA- Free Application for Federal Student Aid Dream Act Application Institutional Aid Scholarships

FAFSA Free Application for Federal Student Aid Opens every October 1st Deadline is March 2nd Need parent tax & income information Student must be a citizen or an eligible non citizens For federal, state & institutional aid

FAFSA Dependency Questions Born before January 1, XXXX (24 years old) Married Seeking Master’s or Doctorate program Have children or dependents Serving in U.S. Armed forces or a Veteran Parents deceased since turned 13 years old Emancipated minor, ward of court, legal guardianship Homeless or at risk of being homeless

FAFSA Dependency Questions Parent(s) is defined as: Biological, Adoptive or Step-parent Marital Status Single Married Divorced Widowed Unmarried and both parents living together If parent does not have Social Security Number, report as 000-00-0000 People in parent’s household

FAFSA Financial Questions Completed IRS Tax Return Include adjusted gross income for 2015 and earnings from work Can provide estimate based on 2015 earnings Update FAFSA when return is filed Include additional financial information and untaxed income Indicate if parent is a dislocated worker Not eligible if parent quit or left voluntarily

FAFSA Financial Questions Asset value as of the date FAFSA is completed Cash, savings and checking accounts Investments net worth Business net worth Over 100 employees Investment & farms net worth Do not include family farm

FAFSA School Selections Option to list up to 10 colleges that will receive your FAFSA Search feature available to search for school codes Housing Plans On Campus (dorms) With Parent Off Campus

FAFSA Confirmation You will receive an electronic notification that your SAR (Student Aid Report) is ready to review Summary of your FAFSA information Not a financial aid award The Financial Aid Office may request additional documents from you and/or your parent(s) to determine your aid eligibility You will receive an award notification from each school

California Dream Act of 2011 Allows students who meet certain criteria to apply for financial aid, such as: Private Scholarships State University Grant (CSU & UC) Cal Grants, EOP Grants Applicants include: AB540 students Undocumented students Deferred Action for Childhood Arrival (DACA) students

California Dream Act of 2011 Application opens January 1, 2016 https://dream.csac.ca.gov Eligibility Attended a CA school for 3+ years AND graduated from a CA HS or equivalent Attend a CA college or university File affidavit with college or university of interest Deadline: March 2nd Submit GPA Verification

Institutional Aid Money given by the College or University Normally offered as part of financial aid package May require supplemental applications Can be in the form of grants, scholarships or loans Requires student meet certain GPA or financial need requirements May be renewable every year

Scholarships Institutional Outside Apply through college or university Each school has its own deadline Outside Start with high school or parent’s work Use scholarship search engines

Types of Financial Aid Gift Aid Work-Study Federal Student Loans Grants or scholarships that do not need to be repaid Work-Study Part-time employment Federal Student Loans Low interest loans that must be paid back

Federal Aid Programs Pell Grant Supplemental Education Opportunity Grant (SEOG) Federal Work-Study Federal Direct Student Loans Subsidized - Need Based Unsubsidized – Non Need Based Federal Direct Parent Loans for Undergraduate Students (PLUS)

State Aid Programs regardless of citizenship status Cal Grant A, B or C CHAFEE Grant Board of Governor’s Fee Waiver (BOG) California Community Colleges Educational Opportunity Grant (EOP) CA Dream Act AB 540 Students only Middle Class Scholarship (MCS) State Schools only (CSU& UC)

Other Aid Programs Vocational Rehab Fee Paying Programs Athletic Grant-in-Aid External Grants & Scholarships Veteran’s Benefits Contact Veteran’s Affairs representative

Financial Aid Award Each school you are accepted to will send you a financial aid award offer or package Will combine aid from federal, state, institutional & outside sources Changes in income and grades may effect Will show Cost of Attendance What you pay Total Balance – Financial Aid = Amount Due

What To Do Now Do well in school Be involved Institutional and external scholarships consider GPA Be involved Community service & school activities Start applying for scholarships Start saving now

Questions