Financial Aid
YOU WILL LEARN ABOUT…. MAKING TIMELINES AND DEADLINES FASFA DOCUMENTS NEEDED PIN NUMBER ELIGBILITY LOANS, GRANTS, SCHOLARSHIPS OTHER RESOURCES
TIME LINES AND DEADLINES
FINANCAIL AID WORKSHOP DEC. 6PM TIME TO APPLY JAN. 1 TIMES UP!! MARCH 2
THE BASICS OF GETTING STARTED Important: Read the instructions! Apply Early! Complete Your Tax Return! Save Time: File Electronically! GET YOUR DOCUMENTS DEADLINES: FEDERAL AND STATE FREE APPLICATION for FEDERAL STUDENT AID!!!
DOCUMENTS NEEDED SOCIAL SERCURITY NUMBER DRIVER’S LICENCES (IF ANY) YOUR’S/PARENTS' 2008 TAX RETURN PARENT’S CURRENT BANK STATEMENTS PARENTS’ current business and investment mortgage information, business and farm records, stock, bond and other investment records
DOCUMENTS NEEDED Dependency Status Worksheet FAFSA on the Web Worksheet Student's Income Estimator Worksheet Parents' Income Estimator Worksheet Student Aid Eligibility Worksheet YOU MAY ALSO NEED…
PIN NUMBER IDENTIFIES YOU TO HAVE ACCESS TO PERSONAL INFORMATION 4 – DIGIT NUMBER SS#, NAME, AND DOB CAN BE USED TO ELECTRONICALLY SIGN FEDERAL STUDENT AID DOCUMENTS ACESS YOUR PERSONAL RECORDS MAKE BINDING LEGAL OBLIGATIONS
PIN NUMBER STUDENT AND PARENT ( if you are a dependent student) will need to sign your FAFSA. Using a PIN to sign your FAFSA electronically is the fastest and most reliable way. Your PIN can be used each year
ELIGIBILITY Basic Equation of Need Cost of Attendance (COA) Expected Family Contribution (EFC) _______________________________ =Student’s Financial Need (FA eligibility)
COST OF ATTENDANCE(COA) Tuition & fees Room & board Books & supplies Transportation Miscellaneous personal expenses – Computer cost – Study abroad expenses – Care and educational expenses …. associated with a disability
TYPES OF FINANCIAL AID Self-Help Aid – Loans Federal Stafford/Direct Federal Perkins Private (Alternative) – Work Study/Employment Federal State Institutional Gift Aid – Grants Federal State Institutional Private – Scholarships Institutional Private
TYPES OF FINANCIAL AID GRANTS VS LOANS FEDERAL PELL GRANTS – LARGEST Need - Based student aid program – $890 - $4,731 (’08-’09) The Academic Competitiveness Grant The National SMART Grant FEDERAL SUPPLEMENT EDCATIONAL OPPORTUNITY GRANT (SEOG) CAMPUS BASED FEDERAL TEACH GRANT Students who plan on teaching in public/private elem. school SUBSIDIZED – Private sources Banks, credit unions, saving and loans ass., and educational organizations FEDERAL GOV. PAYS INTEREST WHILE ATTENDING SCHOOL UNSUBIDIZED Terms similar repayment begins as soon as money is received – BY STUDENT!!! *Freshman up to $5,500 *Upper classmen $6,500 *Repayment schedule worked out btwn student and lender
TYPES OF FINANCIAL AID SCHOLARSHIPS AVAILABLE SCHOLARSHIPS -Scholarship newsletter -Internet (sites on newsletter) -Community groups -
TYPES OF FINANCIAL AID SCHOLARSHIPS *Beware of Scholarship Scams *Avoid Scholarships that Charge a Fee *Avoid Scholarship Services that Charge APPLY!
RESOURCES DU/FINANCE/FINANCIAL-AID- FAQS DU/FINANCE/FINANCIAL-AID- FAQS FED-AID REMEMBER TO CHECK WITH COLLEGE OF INTEREST FINANCIAL AID DEPT.
TIMELINES AND DEADLINES FINANCAIL AID WORKSHOP DEC. 6PM TIME TO APPLY JAN. 1 TIMES UP!! MARCH 2
THAT’S ALL FOLKS!!!