Casey Comings Admissions Representative Grand Canyon University Financial Aid 101 Casey Comings Admissions Representative Grand Canyon University

Agenda Types of Financial Aid FAFSA Cal Grant Information Award Letters

Types of Financial Aid Scholarships Federal Financial Aid Loans Grants Work Study

Scholarships

Types of Scholarships Institutional Scholarships Private Scholarships Funding from the university Ask about the eligibility requirements How to apply? Are they based upon need? Are they renewable? Private Scholarships Funding from outside organizations- not university specific How do I receive this scholarship award? Is this scholarship renewable? Do I receive the scholarship money or does the university?

GCU FRESHMEN ACADEMIC SCHOLARSHIPS Chancellor Scholarship ($9,750 per year) Minimum incoming 4.0 GPA (un-weighted) President Scholarship ($7,750 per year) Minimum incoming 3.9 GPA (weighted) or SAT: 1350 (Reading and Math) / ACT: 31 Provost’s Scholarship ($6,750 per year) Minimum incoming 3.7-3.89 GPA (weighted) or SAT: 1225 (Reading and Math) / ACT: 27 Dean Scholarship ($5,750 per year) Minimum incoming 3.5-3.69 GPA (weighted) or SAT: 1100 (Reading and Math)/ ACT: 24 Faculty Scholarship ($5,000 per year) Minimum incoming 3.3-3.49 GPA (weighted) or SAT: 1050 (Reading and Math)/ ACT: 22 Antelope Scholarship ($3,750 per year) Minimum incoming 3.0-3.29 GPA (un-weighted) or SAT: 1000 (Reading and Math)/ ACT: 20

CCSC Scholarship Available to all admissible graduates from Berean Christian 5,000 per academic year for on campus 2,500 per academic year for off campus Renewable for up to 4 years or the number of years the student attended Berean Christian for high school

GCU Grants Priority Registration Grant* $500 per year Computer Science/Information Technology/Engineering Program Grant** $1,000 per year *, ** these grants are awarded on a first come first serve basis to those students who qualify. There are a limited number of these available.

Sources for Outside Scholarships Ask your employer about tuition assistance benefits Your parents’ and relatives’ employers Church or volunteer groups Performance Awards Opportunities within your school district Clubs ROTC Athletics

Free Scholarship Websites www.fastweb.com www.petersons.com www.supercollege.com www.finaid.org www.students.gov www.collegenet.com www.wiredscholar.com www.collegeboard.com

Student and Parent Loan Options

Student Loans Stafford Loans Subsidized Unsubsidized Alternative Loans Parent Plus Offered at some local banks and private organizations Credit Based Co-Signer may be needed

Grants Need Based Federal-Pell Grant Cal Grant Federal-Supplemental Educational Opportunity Grant (FSEOG) Teacher Education Assistance for College and Higher Education Grant (TEACH)

Applying for Federal Financial Aid What does FAFSA stand for?

Personal Identification Number (PIN) First Step: Apply for a PIN Go to www.pin.ed.gov Parent and student need to apply for a PIN Free to apply Why do I need a PIN? Sign FAFSA electronically

Free Application for Federal Student Aid (FAFSA) Apply after January 1st What do you need? Current Tax Information Social Security Number Driver’s License Number PIN Number Application available at: www.fafsa.ed.gov

Independent vs. Dependent Status What’s the difference? Independent Status Must be 24 or older Enlisted or veteran of the U.S. military Married Have children or dependents Working towards your Master’s or Doctoral degree Deceased Parents or Ward of the State Unaccompanied youth or homeless If you do not meet the above requirements, you are a “Dependent Student”

IRS Data Retrieval Tool (DRT) Enter Tax Information IRS Data Retrieval Tool (DRT) Enter personal information Use DRT tool to import most recent tax information Double check for accuracy

Electronically Sign Use your PIN to electronically sign your FAFSA Application Parent will use PIN to electronically sign

What is an EFC? What does it mean to me? Confirmation Page What is an EFC? What does it mean to me?

Calculating Financial Need Basic Equation of Need: Cost of Attendance (COA) - Expected Family Contribution (EFC) =Student’s Financial Need (eligibility) www.FAFSA4caster.ed.gov

Cost of Attendance Tuition and fees Room and board Books and supplies Transportation Miscellaneous personal expenses May cover cost of computer May also include other expenses

Expected Family Contribution Need Analysis is the formula used in determining a family's EFC EFC is the measure of a family's financial strength

Calculating Eligibility Federal EFC will be the same for all schools – awarding of all federal aid must be based on the federal EFC Federal FA eligibility varies because COA varies Some schools may use institutional methodology to award their own institutional funds

What happens after I submit my FAFSA Application? FAFSA Application can be sent to up to 10 colleges or universities Two weeks to process FAFSA application Follow up and send information that is requested

Verification Process Am I selected for FAFSA Verification? Random selection process Requires the student to provide additional documentation before application and awards can be processed Dependency Verification Worksheet Source of Income Worksheet Asset Verification Worksheet Don’t procrastinate! This process can take 6-8 weeks to process.

Parent PLUS Loans To apply, visit www.studentloans.gov Credit based loan application for parent to complete Loan can be used to assist student with tuition and fees Repayment begins 60 days after loan is disbursed

Entrance Interview (EI) Master Promissory Note (MPN)

Filing Tips Apply for PIN(s) now at pin.ed.gov with e-mail addresses for both student and parent PIN(s) disabled after 18 months of inactivity (can be used in subsequent years – keep in safe place) Beware of spam blocker software. To ensure e-mail delivery, add the address listed online to your e-mail address book Apply early – institutions may run out of funds for late filers

Filing Tips Gather necessary docs ahead of time Complete a FAFSA worksheet Check browser requirements Allow ample time to complete (do not begin on March 1st ) Save all work periodically Print out a copy before submitting electronically Keep a copy of the Submission Confirmation Page

Filing Tips Parents with multiple children in college may transfer their information to an additional application Do not log out before transferring info to a new FAFSA Can only transfer once Each student needs own PIN and email, but parents need only one PIN and one email address

Federal Work Study (FWS) Student worker position on campus FWS jobs found in Career Services Office Weekly hours and wage pre-determined based on eligibility Ask your financial aid office about eligibility and if you qualify! How is this different from any other student worker job on campus? FWS jobs are government funded Non-FWS jobs are college or university funded

Cal Grants

Cal Grant Student Help Line contact number 888.CA.Grant/888-224-7268 (not 888.Cal.Grant, please) Deadline: MARCH 2nd Cal Grant A, B, C Renewable and portable Adjustable with school attended Recent HS grads are “entitled” www.calgrants.org www.csac.ca.gov

Cal Grant Eligibility Requirements Submit FAFSA and GPA Verification by March 2nd Meet eligibility for income/asset ceilings showing financial need – determined by FAFSA Meet GPA requirements Have high school diploma or equivalent Be California resident Be US citizen or eligible non-citizen Attend an eligible California school Be enrolled in college at least half-time Have not earned a bachelor’s degree Not be in default of federal student loan

Cal Grant Minimum GPA Requirements* Cal Grant A - 3.0 Cal Grant B - 2.0 Cal Grant C - No min *GPA based on sophomore and junior years

Cal Grant A Low to middle-income families (family size of four, $87,400) Minimum H.S. GPA 3.0 Eligibility for up to 4 years full-time; may be extended to 5 years for mandatory 5 year programs or a teaching credential Covers tuition/fees at UC and CSU (UC - $12,192 CSU - $5,472) Independent - $8,056/year Held in reserve while attending CC BA/BS programs only

Cal Grant B Students from lower income families (family size of four, $45,900) Minimum GPA 2.0 Eligibility up to 4 years full-time study 1st year - $1,473 Subsequent years - $1,473 plus tuition/fees same as Cal Grant A AA, BA/BS, and Certificate

Cal Grant C Low to middle-income families (family size of four, $87,400) No minimum GPA AA and Certificate programs (vocational/technical) Course of study must be at least 4 months and may be up to 2 years Required supplemental application sent after FAFSA Tuition and fees up to $2,462/year

Cal Grant California Aid Report (CAR) emailed as soon as student eligibility is determined; response from calgrantoffice@csac.gov Letter sent if no email address provided If corrections made to SAR, processed by Cal Grant and eligibility will be re-calculated No notification if deadline missed

Middle Class Scholarship Family incomes up to $150,000 Attend UC or CSU campus (no private schools included) Must file FAFSA to apply http://www.csac.ca.gov/mcs.asp

Summary of the Process Submit all required forms, including FAFSA, by each college’s published deadlines (no later than March 2) By March 2, submit a Cal Grant GPA Verification Form (Mrs. Miller has electronically submitted with parental written permission) Keep a copy of all forms submitted Review Student Aid Report - SAR Review California Aid Report -CAR

Summary of the Process Watch for financial aid award notifications from colleges to which the student has been admitted Apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible Ask questions

Awarding FA offered to admitted students Institutions have different awarding policies Award letters may list: amount of award, COA, EFC, need and unmet need, period of enrollment covered, terms and conditions of awards Response may or may not be required

FAFSA Contact federalstudentaidcustomerservice@ed.gov 1 (800) 433-3243 [Excellent Response] Live “Chat” at www.fafsa.gov

Contact Information: Casey Comings Grand Canyon University Phone 619.606.1472 Email casey.comings@gcu.edu