College Financial Planning Workshop V: Funding Your Education Glow Foundation Online Version for Program Course Credit

Page 2 Goals for This Meeting  Group Agreements  FAFSA 4Caster  Financial Aid 101(Scholarships, Grants, Work Study, Loans)  Recap  Closing/Questions

Page 3 Group Agreements  Commitment to Glow Foundation’s program  Be prompt and prepared for all Glow sessions (including Homework items)  Reach out for help when needed  Respond promptly to s or phone calls  Share the information learned with family and peers  Be respectful (one mic)/confidentiality  Accountable for myself and the group success

Page 4 FAFSA 4Caster What’s a FAFSA 4Caster? ► Gives you an estimate of your Expected Family Contribution (EFC) and an estimate of your federal student aid award package ► The 4Caster asks you questions similar to those asked on the FAFSA

Page 5 FAFSA 4Caster Breakout Goal: Complete and print out your FAFSA 4Caster

Page 6 Sample FAFSA 4Caster

Page 7 Analyzing Your FAFSA 4Caster Spend 5 minutes writing the answers to the following questions: 1. What is the estimated EFC? 2. How much money in total is this student getting in grants? Work study? Loans? 3. What type of financial aid is NOT listed on the 4Caster? Why? 4. What does dollar value of the “remaining need” indicate? 5. How would you go about closing this financial gap or “remaining need”?

Page 8 Sample Award Letter

Page 9 Financial Aid 101-Scholarships Questions: 1. Is the money free, earned, or borrowed? 2. Where does the money come from? 3. How do you apply? 4. What are the eligibility requirements? 5. Can you get more than one?

Page 10 Financial Aid 101-Grants Questions: 1. Is the money free, earned, or borrowed? 2. Where does the money come from? 3. How do you apply? 4. What are the eligibility requirements? 5. Can you get more than one?

Page 11 Questions: 1. Is the money free, earned, or borrowed? 2. Where does the money come from? 3. How do you apply? 4. What are the eligibility requirements? 5. Can you get more than one? Financial Aid 101: Federal Work Study

Page 12 Financial Aid 101: Federal Work Study Benefits of Work Study:  Flexible schedule: employers know you are a student first  Many FWS jobs are in the fields of your major or areas of interest  Hourly wage is at least minimum wage  In some cases, you can study while you work (libraries, dining commons, gyms, etc.)

Page 13 Financial Aid 101-Federal Loans Questions: 1. Is the money free, earned, or borrowed? 2. Where does the money come from? 3. How do you apply? 4. What are the eligibility requirements? 5. Can you get more than one?

Page 14 Financial Aid 101: Loans Loan Basics:  Things to pay attention to:  How much to borrow  Interest rate & fees  Repayment terms  Subsidized vs. Unsubsidized Loans  Federal Loans vs. Private Loans

Page 15 Recap  Budgeting – Review!  FAFSA 4Caster  Overview of Financial Aid (Grants, Work Study, Loans, Scholarships)  Financial Gaps  Closing/Questions