Bait- Picture it, the excitement of college, move in day, new friends and experiences. Pitfall- Every year students miss out on this dream, families take on more debt because money (an average of $1800 per person) is left on the table and students and parents alike are unsure how to read an award letter. Rescue- My name is Laura Poole. I have been in your shoes as a school counselor. Now, I work in a FA office and want to inform you how Financial Aid can make college affordable and a reality.

What is Financial Aid? Types Where does $ come from Purpose Who can get it Types: Need (finances ****BASED ON ABILITY NOT WILLINGNESS/ A SNAPSHOT****) Merit (academics, talent, athletic, others) (about 55 merit in each class at Duke) Grants, scholarships, loans, work study Where: Federal, state, private institutions Purpose: To reduce the family cost Analogy about peanut butter Who: US citizens, permanent residents, and eligible non-citizens HS Graduate or GED holder Valid SS # Eligible degree or certificate program STOP: ASK QUESTION- How many of you have ever filled out a financial aid application?

How to Apply File Taxes FAFSA www.fafsa.gov CSS Profile www.collegeboard.org Priority Deadlines Both applications open October 1st FAFSA- Determines eligibility for federal and state funds, loans, and work study FREE CSS PROFILE-required by many private and some public institutions Determines eligibility for institutional funds More detailed Fee-based (there are waivers)

Sally Visual

Reviewing the Offer How much is a “gift” What is the total amount billed? What other expenses will you have? EFC is not how much you will pay but what government/school says that you can afford

College A Sample Aid Letter Cost: Tuition: $6,500 Fees: $1,200 Room: $5,200 Board: $4,000 Books & Supplies: $1,800 Travel & Misc.: $1,300 ______________________ Financial Aid: College A Scholarship: $9,500 Pell Grant: $1,250 State Grant: $1,250 __________________________ Total Cost of Attendance: $20,000 Total Aid: $12,000

College A Sample Aid Letter Cost: Tuition: $6,500 Fees: $1,200 Room: $5,200 Board: $4,000 Books & Supplies: $1,800 Travel & Misc.: $1,300 ______________________ Total Cost of Attendance: $20,000 Financial Aid: College A Scholarship: $9,500 Pell Grant: $1,250 State Grant: $1,250 _______________________ Total Aid: $12,000 Billed expenses = $16,900 Gift aid = $12,000 Amount owed College A: $4,900

College B Sample Aid Letter Cost: Tuition: $12,200 Fees: $2,800 Room: $8,500 Board: $4,000 Books & Supplies: $3,500 Travel & Misc.: $2,200 ______________________ Total Cost of Attendance: $33,200 Financial Aid: College B Scholarship: $15,000 Pell Grant: $1,250 Federal Subsidized Stafford Loan: $3,500 Federal Unsubsidized Stafford Loan: $2,000 Federal Work Study: $3,000 *Parent PLUS Loan: $8,450 _______________________ Total Aid: $33,200

College B Sample Aid Letter Cost: Tuition: $12,200 Fees: $2,800 Room: $8,500 Board: $4,000 Books & Supplies: $3,500 Travel & Misc.: $2,200 ______________________ Total Cost of Attendance: $33,200 Financial Aid: College B Scholarship: $15,000 Pell Grant: $1,250 Federal Subsidized Stafford Loan: $3,500 Federal Unsubsidized Stafford Loan: $2,000 Federal Work Study: $3,000 *Parent PLUS Loan: $8,450 _______________________ Total Aid: $33,200 Billed expenses = $27,500 Gift aid = $16,250 Amount owed College B: $11,250

Factors that Impact Aid Family Special Circumstances # In College Outside Scholarships FAFSA vs PROFILE Early vs Regular Decision Net Price Calculator Touch on DACA and Independent Students Aid for Summer and Study Abroad Student support programs Payment Plans and other financing options

Picture of an example of the net price calculator

Just remember: Financial Aid Folks are really really NICE!!! Closing: I have shared this information with you today so that you have some knowledge about financial aid and resources to give to your students. I challenge you all to go back to your schools this afternoon and complete the applications and choose to do a few net price calculators!