College Financial Aid What is it ? What is it ? How do I apply ? How do I apply ? How can I prepare NOW ? How can I prepare NOW ?

What is Financial Aid ? 1 st we need two pieces of information: The cost of attending college minus minus what the family can contribute toward that cost = Financial need = Financial need

Financial Aid is... … the attempt to meet that financial need in order to make it affordable for the student to attend a given institution.

Cost of Attendance Tuition & Fees Room & Board Books & Supplies Miscellaneous Personal Expenses Loan Fees Transportation

How to apply for Financial Aid The FAFSA FORM The CSS College Profile

The FAFSA Form Stands for Free Application for Federal Student Aid It is a form similar to an Income Tax Return Must be completed by BOTH the student and parent(s) This document cannot be filed until after January 1st

Before you submit your FAFSA You must have applied to a college prior to submitting your FAFSA application Make sure you have included your tax information for the year just ended Check that you have answered all the questions on the form

Electronic *** TIME SAVER TIP *** if applying to a college in NY State!

Bonus Time! If you are planning to attend a college in New York State, you will be asked after completing your FAFSA form “Do you now want to go to HESC (NY State site for financial aid) CLICK YES!

FAFSA Follow-Up Once it is processed you should be able to print out a Student Aid Report (SAR) Check the statement for accuracy, if there are any mistakes correct them line by line and resubmit Remember the FAFSA is processed for free Remember the FAFSA is processed for free

The CSS College Profile This is a document required by more pricey private institutions It may be filed early in the senior year as soon as the student knows which school he/she will be applying to Please remember that The FAFSA must still be filed

Two Categories of Aid Non-need based To recognize special skills, talent or athletic ability Need-based Need to demonstrate financial need

College Loans It is important to stress that loans are an integral part of almost all financial aid packages Remember education is an important investment in the future of your child and loans are not a bad thing We take out loans to buy a car, a home and many other things in life; this particular loan pays a great return over the course of the student's life We take out loans to buy a car, a home and many other things in life; this particular loan pays a great return over the course of the student's life

Students with a college education earn considerably more during the course of their lifetime than those without Weigh the benefits of college loans

Federal Family Education Loan Program (FFELP) Federal Stafford Loans Subsidized vs. Unsubsidized

Scholarships How to find them & How not to get taken taken!

Scholarships are given for: Grades Athletic Ability 1st Generation College Student Other outstanding talents They are based upon merit as opposed to financial need!

How to find them Talk with the financial aid counselors at the college you are considering applying to The local scholarships are posted in all three guidance offices The complete list of local scholarships and the individual applications are available at our new website: then click on the guidance link The Internet

Don’t get ripped-off Free Seminar Application fees Guaranteed winnings We have information/sources that no one else has Claims of influence with scholarship sponsors

Sources of Scholarships The Colleges and Universities Your employer, Union, or any Organization that you belong to (i.e. Rotary or Lions Club) Local Scholarships which are offered by service clubs and foundations in the Newburgh/New Windsor area

Creative ways to reduce the cost of college Earn College credit while in high school (AP & Articulation Programs) The Montgomery GI Bill Joining the Air National Guard entitles you to FREE SUNY tuition Attend a Community College for the first two years

School Counselors are not experts on financial aid ! Each college has a financial aid officer with a staff who have great expertise in financial aid. You should not hesitate to contact the financial aid office at a college or University in order to have your questions answered

Check our Website for more

If you have any questions, we’ll be here to help you ! NFA Department of Counseling & Guidance