Funding Your Future Financial Aid Overview

Topics Introduction What is financial aid? Sources of financial aid Eligibility requirements How to apply? What happens after? Where do I get help? Other information

What is financial aid? Financial aid are funds provided to students and families to help pay for postsecondary educational expenses

Sources of Financial Aid Private sources-scholarships Federal and State Grants Student Loans Work Study

Scholarships Awarded on the basis of skills, gpa or unique characteristic Free money Foundations, high schools, businesses, charitable organizations, employers, unions Deadlines vary

The Cuesta Promise SLO County high school graduates Fall 2014 semester fees covered Complete the Cuesta scholarship application by March 2, 2014 Guaranteed to all students who complete the promise steps regardless of income or gpa

Federal Government Largest source of financial aid Aid awarded primarily on the basis of financial need Must complete the FAFSA

Common Federal Programs Federal Loans -Subsidized -Unsubsidized PLUS- Parent Loan Pell Grant Federal Supplemental Opportunity Grant Federal Work Study Teach Grant

Limitations of Federal Aid Programs Pell Grant 12 full-time semesters Direct Subsidized Loans 150% of the length of program To track financial aid history:

California State Grants Residency requirements Aid awarded on the basis of both gpa and need Must complete the FAFSA

Common CA State Programs AB540 Cal-Grants Chafee University Grants Middle Class Scholarship Board of Governors Fee Waiver

AB540 Allows non-resident students to receive state grant opportunities Must complete application at college/university Admissions Office determines eligibility Student is able to complete the FAFSA or Dream Act application

Cal-Grants Must submit FAFSA or Dream Act Students/school must complete a GPA verification form Verify if your high school submitted your GPA Visit Deadline March 2 nd, 2014

Chafee Available for foster-youth Must complete an online application Limited funds

University Grants Available at private and public universities Funds may be limited Follow-up with your school of choice

Middle Class Scholarship Program New, transfer and returning undergraduate students California State University or University of California Family income of up to $150,000 Complete the FAFSA or Dream Act application

Board of Governors Fee Waiver Waives enrollment fees at community colleges You must complete FAFSA or Dream-Act

Eligibility Requirements for Federal and State Aid Be a U.S. citizen or eligible non-citizen ***Have a valid social security number*** Register with Selective Service High school diploma/GED/homeschooled Enrolled in an eligible degree or certificate program

How do I apply for ? Complete the FAFSA or Dream Act Apply online orwww.fafsa.gov Application is available starting January 1 st Colleges may set their own deadlines

Dream Act Application California application for financial aid Only for students who do not have a SSN Students complete this instead of the FAFSA

Frequent Application Delays Transposed Social Security Numbers Marital status Income information Taxes paid Household size Number in college Asset information missing Missing student/parent signatures

What happens after? Student will receive a Student Aid Report (SAR); make corrections Student will have an Expected Family Contribution (EFC) School may require student/parent to submit additional documentation

Need Varies Based on Cost

How can I help as a parent? Complete income taxes early Use the IRS Data Retrieval Tool Request IRS Transcripts Online: Transcript Type: Return Transcript Phone number: Have your son/daughter follow-up with the financial aid office!

Where can I obtain help? Cash for College Workshops: Enter in a $1000 Scholarship raffle February 11 th Cuesta SLO Campus February 12 th Paso Robles Campus FAFSA, Dream Act, Cuesta Scholarship Application

Special Circumstances Change in employment status Medical expenses Unusual dependent care expenses Loss of parent or student income Any other unusual circumstances that affect a family’s ability to contribute to higher education

Electronic Payments Students have options to receive financial aid or tuition disbursements: Receive disbursement on a debit card Direct deposit into a personal bank account Request a paper check

Questions? Cuesta College