Arizona’s First University. 1 Scholarships and Financial Aid Scholarships & Financial Aid Fall 2013

2 FAFSA Required application for Federal Student Aid and many Scholarships. Online application at Have families apply- even if they don’t think they will qualify! Free Application for Federal Student Aid FASFA

3 What Goes On The FAFSA? Student and parents 2013 Federal Income Tax information for award yearStudent and parents 2013 Federal Income Tax information for award year U of A school code U of A school code Social Security NumberSocial Security Number Create a PINCreate a PIN There are options for Students with Limited Internet Access FASFA continued…

4 Financial Aid Timeline Can begin filling out FAFSA January 1 st (senior year) –Can estimate income tax returns and correct late Priority Deadline for submitting FAFSA is March 1st

FAFSA FASFA Application Process Student can include up to 10 schools on one application An EFC (Expected Family Contribution) is generated US Department of Education sends Student Aid Report (SAR) to you and electronically sends information your schools School sends Financial Aid award notification to you 5

EFC What is an EFC? The EFC is a snapshot of the previous year’s income data. It is the basis for which to award federal financial aid The EFC is used to determine student aid and loans 6

How much does it cost? Sample Academic Year Expenses Tuition & Fees: $10,390 Room/Food: $9,174 Books/Supplies: $1000 Total: $20,564 Financing your Education

8 Grants Grants Generally Need Based Grants are gifts-no payback Many types –Pell –Institutional and Other Federal Grants –Arizona Assurance

9 Grants: Arizona Assurance To Qualify: –Arizona Resident –$42,400 Family Income –3.0 GPA by the end of junior year –Complete UA application by March 1 st –FAFSA by March 1 st –If asked, College Board Profile by March 31st

AZ Earn to Learn You Save They Match $500 + $4,000 You Get = $4,500 For tuition and other college expenses! Eligibility Requirements Be eligible for a university defined target group If under the age of 18, a parent or guardian and the participant must co-apply with you Be an Arizona resident and have lived here for 3 months prior to applying Be a U.S. citizen or eligible non-citizen Have a social security or federal tax identification number Have earned income from full or part-time work or be co-applying with a spouse partner, guardian, or parent who has earned income.earned income Have a household earned gross income at or below 200% of the federal poverty level based on household size OR within Federal Earned Income Tax Credit (EITC) limits200% of the federal poverty levelFederal Earned Income Tax Credit (EITC) Have net assets that do not exceed $10,000, excluding one vehicle and one home when net worth is calculated net worth 10

11 Scholarships Merit based scholarships (academic performance) Merit based scholarships (academic performance) Wildcat Excellence (resident tuition award) Wildcat Excellence (resident tuition award) Regents High Honors Tuition Scholarship “AIMS Regents High Honors Tuition Scholarship “AIMS Scholarship” Scholarship” National Scholar Program National Scholar Program - National Merit - National Hispanic Scholarship - National Achievement Scholarship Scholarship Universe!!! Scholarship Universe!!! Scholarships

12 Scholarships Start looking for scholarships earlyStart looking for scholarships early Students should never pay for scholarship searchesStudents should never pay for scholarship searches Scholarships can be essay contestsScholarships can be essay contests The more difficult the application, the fewer the applicantsThe more difficult the application, the fewer the applicants Pay close attention to deadlines and datesPay close attention to deadlines and dates Take a rigorous course loadTake a rigorous course load –scholarshipuniverse.arizona.edu Over 20,000 users Winner of 2012 Campus Technology Innovator award in Administrative Systems Scholarship Hints

13 Loans (Loans are financial aid too!) Federal Stafford Subsidized Loan Need BasedFederal Stafford Subsidized Loan Need Based –Does not accrue interest while student is in school –Repayment begins six months after graduation or if a student is enrolled less than half-time Federal Stafford Unsubsidized LoanFederal Stafford Unsubsidized Loan –Accrues interest while student is in school –Repayment begins six months after graduation or if a student is enrolled less than half-time Parent PLUS LoanParent PLUS Loan –Credit Based –Repayment begins two months after the 2 nd disbursement Private Loans (Interest is Variable)Private Loans (Interest is Variable) –Credit Based

14 Reference Information OSFA Contact Information The University of Arizona Office of Student Financial Aid Administration Building, Room Phone: Fax: