F INANCIAL A SSISTANCE Funding your Education Stevens High School November 17, 2015 Starla Russell, Director of Financial Aid Western Dakota Technical.

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Presentation transcript:

F INANCIAL A SSISTANCE Funding your Education Stevens High School November 17, 2015 Starla Russell, Director of Financial Aid Western Dakota Technical Institute – 800 Mickelson Dr. Rapid City, SD

I NTRODUCTION lWhat is Financial Aid? lWhat can I use Financial Aid for? lHow do I apply for Financial Aid? lWhat types of Aid can I receive?

What is Financial Aid? Grants Loans Work Study Scholarships Outside Funding

What Can I Use Financial Aid For? Tuition and Fees Books/Supplies Tools Room & Board Transportation Miscellaneous

Complete your 2015 Taxes Complete the FAFSA & Loan Application Complete Institution-specific Forms = Financial Aid Award Letter How Do I Apply for Financial Aid? FAFSA (for enrollment beginning August 2016) (starting Jan 1, 2016) (active for 10 years) Reminder: Always Watch for Scholarship Opportunities!

FAFSA Process for FAFSA (for enrollment beginning August 2017) Use your 2015 Taxes Complete the FAFSA & Loan Application Complete Institution-specific Forms = Financial Aid Award Letter (starting Oct. 1, 2016) (active for 10 years) Reminder: Always Watch for Scholarship Opportunities!

- Types of Aid - Gift Aid –Pell Grant- $5,775 max –FSEOG –Institutional Grants –Scholarships Loans –Subsidized- $3500 max –Unsubsidized- $2000 max OR $6000 max Federal Work Study Outside Funding –Alternative Loans –Plus Loan

Keep in Mind… The FAFSA is the 1 st Step Master Promissory Note also required (for loan borrowers) and… Institutional aid forms may also be required.

Frequently Asked Questions Who is Eligible for Financial Aid? Must I be accepted for admission before applying for Financial Aid? When should I apply? Where can I find additional sources of financial aid?

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