Financial Aid

What does it cost to go to school? UVSC University of Utah Salt Lake Community College UCLA Others

What Does Financial Aid Cover? Tuition Fees Books Transportation Computers (Just once) Living expenses.

Types of Financial Aid Scholarships Grant Stafford Loans Unsubsidized Loan Work Study

Scholarships School Private Based on Academic or Athletic performance the school is going to waive tuition. Private For whatever reason someone else is giving you money. Beauty Pageants Tall Community Service

Grants The government gives you money to finish school LEAP PELL You must be 24 to qualify for most grants

Stafford Loans Student loan that doesn’t accrue interest until graduation or no longer qualifies To keep a loan students must be… In good academic standing A full-time student Have a qualifying income

Unsubsidized Loans These are similar to Stafford loans but the Interest starts accruing immediately. These are the easiest loans to get.

Work Study The government will pay you to work for the school. Students get paid if they work in their projected field There are hundreds of these.

Who Can Get Financial Aid? Need Based. Your income Parents Income (until you are 24) Academic Progress

Where Can You Use Financial Aid? Universities State Colleges Community Colleges Private Schools Trade Schools Basically and post high school education.

529 Plans A state sponsored plan to encourage higher education. Prepaid Savings

Savings Plan An account is started for the student with the money going to pay for college expenses. The money is invested in Stocks Bonds Money Markets The closer the student gets to college the more safe the investments

Prepaid The cost of tuition at a specific institution is price locked when you pay. Must be used at a specified institution.

Advantages All money is income-tax free. The beneficiary can be changed at any time. Money can be used to pay for tuition, fees, room, board, books, supplies and required equipment. Protected from bankruptcy

Disadvantages There is a fee when you begin a 529 Plan If you take out the money for some other purpose than college there is a financial penalty.