Developing a Financial Aid Strategy 11 th Grade Financial Workshop

Today’s Workshop Learn how to estimate financial aid eligibility – Using the FAFSA4caster Update Postsecondary Plan

Video: Types of Financial Aid What 3 main types of financial aid does the FAFSA help students receive? (Click on picture to begin video)

FAFSA4caster Estimates the amount of financial aid Need an estimate of parents’ income National average salary ($42,000) – Store Clerk: $23,000 – Cook: $28,000 – Teacher: $45,000 – Chef: $49,000 – Doctor: $115,000

Google: fafsa4caster

Sample Student Selections

Financial Aid Estimator

Estimated Amount of Financial Aid

Sample Student Financial Aid Estimate Cost for 1 st Year: $15,000 Financial Aid Grants: $8,300 Scholarships: $3,000 Work Study: $1,465 $12,765 ($2,235 amount still owed)

Paying for Amount Still Owed Amount Still Owed: $2,235 Payment Loans: $1,235 Parent Contribution: $0 Savings : $0 Student Contribution: $1,000

Find Costs & Financial Aid Info Estimate your financial aid Update Postsecondary Plan

Classroom Discussion What did you learn about the FAFSA4caster? Name how students cover college expenses Grants, Scholarships, Work Study, Parent contributions, Loans, Student Contribution

Review 1.Average annual cost of college – $15,000 2.Website tool that estimates postsecondary financial aid – FAFSA4caster 3.Types of financial aid that students do not have to pay back – Grants, Scholarships, Work Study