Financial Aid Roderick Shea 12/2/2015 The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ

What does financial aid mean? What types of financial aid are available? How do you get financial aid? What is the difference between the FAFSA form and CSS Financial Aid Profile form? The Basics of Financial Aid

File on or as close to January 1 of your student’s senior year in high school. You do not need to wait until your taxes are done to file the FAFSA. Don’t forget to list the colleges you want your FAFSA information sent to. Filing the FAFSA

Financial aid is based on the following calculation Cost of Attendance -Expected Family Contribution =Financial Need The Financial Aid Process Source: EFC Formula –

After the FAFSA is filed, the applicant will receive a Student Aid Report known as SAR. The SAR includes the estimated family contribution (EFC). EFC usually appears right under the date of the SAR form. The SAR is sent to the colleges listed on the FAFSA as well as federal and state agencies. Check the SAR thoroughly to ensure it is accurate. Student Aid Report

Federal Government Pell Grants Subsidized and Unsubsidized Stafford Loans Parent PLUS loans State Government Campus-based programs Private scholarships Sources of Financial Aid Source:

Colleges combine various awards to make up the financial aid package. Examples could include: Grants Loans Scholarships Work-study jobs Appeals Financial Aid Package

Apply to schools where you meet or exceed the entrance requirements. Apply to a mix of schools (private and state). How to Get the Best Financial Aid Package

1.My parents make too much money to qualify for financial aid. 2.Only students with good grades get financial aid. 3.The form is too difficult to fill out. Financial Aid Myths

Companies Organizations Groups Sports Local government Scholarships for College-Bound Students

Internet Sites American Indian College Fund  Asian American Studies  Black Excel  Hispanic College Fund  Hispanic Scholarship Fund Scholarship Resources for Minority Students

Internet Sites Continued Horatio Alger Association  NAACP  National Urban League Scholarship  United Negro College Fund Scholarship Resources for Minority Students

Directories The Hispanic Scholarship Directory Directory of Financial Aid for Minorities Black Excel African American Student’s College Guide Review other directories in the reference section of the library Scholarship Resources for Minority Students

Federal Student Information Center FED-AID ( ) Funding Education Beyond High School FAFSA on the Web College Navigator U.S. Government Website for College Students/Parents www2.ed.gov/students U.S. Department of Education The Smart Student Guide to FINAID Resources for Additional Information

Questions

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