WELCOME! Rosie Castaneda Assistant Director September 26, 2017.

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Presentation transcript:

WELCOME! Rosie Castaneda Assistant Director September 26, 2017

What is the Purpose of Financial Aid? Access to funds to help families pay. 4 year public and private colleges Community colleges Private career colleges Choice among schools. Best academic/cultural/social fit NOT necessarily the least expensive

Comparing Estimated 2017-18 College Tuition Costs Community College $1,104 CSU $7,460 UC $12,630 Private $40,000+ Additional Costs of Attendance (9-month academic year): Other college fees $1,420 Books & Supplies $1,198 Room & Board $12,000 – $15,000 Transportation $505 - $1,439 Personal Expenses $1,500 - $3,000

Comparing Estimated 2017-18 Cost of Attendance Includes: Tuition & Fees Room & Board Books & Supplies Transportation Personal Expenses Community College CSU UC Private TotalCost $17,000 $27,000 $31,000 $59,000

Expected Family Contribution (EFC) Amount family can reasonably be expected to contribute over the course of a school year Stays the same regardless of College attending Two components Parent Contribution Student Contribution Calculated using data from FAFSA/Dream Act Appl applying a formula established by Congress

- Expected Family Contribution What is Financial Need? Cost of Attendance - Expected Family Contribution = Financial Need

Sources of Financial Aid Federal Government State Government College or University Private Agencies

Types of Financial Aid Gift Aid: Grants or scholarships that do not need to be repaid and tuition waivers or other benefits. (Pell Grant, Cal Grant, VA waivers) Work-Study: Money earned by the student as payment for a job on or off campus. Loans: Borrowed money paid back with interest.

Types of Financial Aid Gift Aid Self-Help Aid Scholarships Grants Loans Student Employment Gift Aid Self-Help Aid

UC’s Commitment to California Residents Family income of less than $80,000 Qualify for need based financial aid (apply on time, apply for Cal Grant, etc.) If your existing aid from all sources does not cover your UC System wide tuition/fees ($12,630 for 2017-18) the Blue and Gold Plan covers the balance up to your financial need!

New Middle Class Scholarship Helps to pay a portion of UC or Cal State tuition if : California resident Total family income of between $80K - $156K and total Household assets of $156K or less Qualify for financial aid (apply on time, apply for Cal Grant, etc.) Not already receiving grants and scholarships that equal systemwide tuition and fees ($12,630 for UC; $7,460 for Cal State for 2017-18 ) See more information at http://www.csac.ca.gov

How Does a Student Apply for Financial Aid? Complete a FAFSA or DREAM Act Application October of the SENIOR year in High School FAFSA.GOV DREAM.CSAC.CA.GOV

Which Application? The status of the STUDENT (not the parent) determines which application the student should file. U.S Citizens or Permanent Residents apply using Free Application for Federal Student Aid (FAFSA). Students without lawful immigration status who are AB 540 eligible apply using the CA Dream Act application.

CA Dream Act: Who is Eligible to Apply AB540 Requirement: Students who attended a California high school for at least three full years Graduated from a California high school or attained the equivalent prior to the start of the college term. If applicable, complete an affidavit with the college stating intent to legalize immigration status as soon as eligible to do so.

Application Information & Tips Applications available October 1st File early, but no later than March 2, 2017 for Cal Grants Check with your college regarding other deadlines Student and at least one parent whose information is reported must complete and sign the FAFSA

It Takes 2 by March 2 FAFSA or DREAM APP Cal Grant GPA Verification Form Most high schools will automatically send the Cal Grant GPA to the California Student Aid Commission. We encourage your student to verify with their high school counselor that they have indeed submitted their GPA verification.

Additional College Applications Independent/Private Colleges May need to complete additional forms: CSS Financial Aid Profile Institutional Financial Aid Form Scholarship Applications

FAFSA Filers Create an FSA ID http://fsaid.ed.gov You will be asked to provide: Your Email Create a Username Set a Password

Getting Ready Before starting the FAFSA, gather: Student driver’s license Student Alien Registration Card, if applicable Student and Parent Social Security cards 2016 W-2 Forms and records of money earned and other taxable benefits 2016 federal income tax form Records of untaxed income Current bank statements Business, farm, and other real estate records Records of stocks, bonds, and other investments Create a file for copies of all financial aid documents submitted

Verification for Financial Aid It is important for the student to contact the Financial Aid Office at the college or university they will be attending Verify the application was received Submit any documents the Financial Aid Office may require If your student is selected for verification, help them. Provide them with any parental documentation they may need to fulfill the verification process Financial Aid Administrators are available to help you. If you are confused about the process, DO NOT hesitate to contact the Financial Aid Office.

Keep In Mind Student’s name and ID on everything Remember to keep a copy of everything Stay in touch with each office at college – Financial Aid, Admissions, Housing, Others Remember Deadlines – March 2nd and other school deadlines Re-apply each year

Scholarships Available from colleges, companies, Community-based and other organizations. Usually require separate applications (the UC Admissions Application is your Scholarship Application) Beware of scholarship search Companies that charge a fee. Check with your high school counselor about scholarship opportunities. Be persistent and check regularly. Make use of free reliable online web resources.

Free Scholarship Searches www.fastweb.com www.colleganswer.com bigfuture.collegeboard.org www.sdfoundation.org

Scholarships for AB540 Students http://www.maldef.org/leadership/scholarships/index.html http://www.latinocollegedollars.org/

Special Circumstances Contact the Financial Aid Office and describe the Special Circumstances in writing Loss of income High Medical/Dental Expenses Change in Marital Status

Financial Aid—Investing in Your Future!