Financial Aid Workshop with Pat Fox Ohio University Lancaster Campus 681-3333 fox@ohio.edu

Workshop Topics: Sources and types of financial aid How to apply How financial need is determined How financial aid is awarded

Sources of Financial Aid: Federal State Institutional Private

Types of Financial Aid: Gift Aid Scholarships Work Aid Loan Aid

Gift Aid Federal Pell Grant Ohio College Opportunity Grant Federal Supplemental Educational Opportunity Grant College or University Grants

Scholarships College Scholarships Local Scholarships Plus many more....

Work Aid Federal College Work-Study Program Other types of student employment

Loan Aid Federal Perkins Loan – 5% * Federal Subsidized Stafford Loan – 4.29% Federal Unsubsidized Stafford Loan – 4.29% Federal PLUS (For dependent students) – 6.84%

How to apply: Free Application for Federal Student Aid (FAFSA) on the web Scholarship Applications

Web Sites fafsa.gov fastweb.com ed.gov/ finaid.org ohiou.edu/financialaid Finaid Search

Satisfactory Academic Progress Students must maintain Satisfactory Academic Progress (SAP) in order to continue receiving financial aid. Criteria include: Grade Point Average (GPA) of at least 1.75 at the end of your freshmen year. GPA of 2.00 at the end of each subsequent year. Minimum Completion Percentage (MCP) of at least 67%. This means passing grades in 67% or more of the courses you attempt in your academic year.

Free Application for Federal The Application www.fafsa.gov Free Application for Federal Student Aid 2017-2018 School Year FSA ID

FAFSA Overview Social Security Numbers for Student/Parent Student Driver’s License 2015 Federal Tax Returns (Student/Parent) 2015 untaxed income records (Student/Parent) Includes child support paid/received, other income not included in the IRS Adjusted Gross Income Current bank statements (Student/Parent) Current business and investment records (Student /Parent) Selective Service Number for Student

FAFSA Overview The FAFSA on the Web Worksheet prepares families to complete the FAFSA online. It provides questions from the online version. It is not required and should not be mailed. A PDF version of the FAFSA is available for printing from www.fafsa.gov.

Evaluating Eligibility Student’s Income and Assets Parent’s Income and Assets Family Assets (Savings, Investments, etc.) Family Size Number in College

How financial need is determined Cost of Education - Estimated Family Contribution (EFC) = Financial Need (your award)

How financial need is determined Private College $40,000 -$ 5,000 $35,000 Public College $25,000 - $ 5,000 $20,000

How financial aid is awarded Financial need is determined The college or university makes an award offer to those that have applied The student responds to that award offer

Alternative Sources: Institutional payment plans Employer Assistance Labor Unions Community/Service Organizations H.S. Guidance Offices