1.  Financing Your Child’s Education First-Year Financial Aid Ramona Hudson Assistant Director Student Financial Services Hofstra University

2.  What is Financial Aid? Financial Aid Federal Work-study Grants & Scholarships Loans

3.  Gift Aid (Does not need to be repaid) Scholarships (typically merit-based)  Institutional  Local/ Outside Grants  Institutional  Federal Pell Grant  Federal Supplemental Opportunity Grant (SEOG)  Tuition Assistance Program (TAP- for NYS residents attending a NYS school, Public or Private)

4.  College Scholarships/Grants What to Ask  Application vs. Automatic Awards  Deadlines  Awarded by Admission, Financial Aid, Athletics, Alumni, Major Department  Renewable vs. One-Time Award  Any limits or renewal criteria?  What happens if the student changes his/her major?  Opportunities as a continuing student?

5.  Scholarship Search SitesFinaid.org Fastweb.com Scholarships.com Collegeboard.com *Note: Links are provided as a general information resource. The links provided are maintained by their respective organizations and they are solely responsible for their content. Hofstra does not favor one link over the other, nor does Hofstra endorse or profit, in whole or in part, from any products or services offered or promoted by any of the websites whose links appear.

6.  Loans (need to be repaid) *Note: Figures reflect 2015-2016 interest rates and origination fees. Each year’s rates become available by July 1 Federal Education Loans 2015-2016  Subsidized and Unsubsidized Stafford Loans  Annual limit for Freshman =$5,500 gross  * 4.29% interest rate, 1.068% loan fee  Federal Parent Plus Loan  Annual limit = Student’s Cost of Attendance  * 6.84% interest rate, 4.272% loan fee  Alternative/Personal Student Loans  variable interest rates and terms/conditions  Home Equity Loan

7.  Federal Work Study (FWS)  Most jobs worked on campus  Students earn wages  Funds are not applied to a student’s billing account  Based on the student’s schedule  Part-time jobs  Undergraduate Assistantships  Earn more than just a degree!  Valuable networking opportunities

8.  Ways to Save on College Costs  Live in a less expensive residence hall or commute if you are local  Apply to work a job on campus  Buy used textbooks, rent or borrow, sell back your used books  Take a small meal plan, buy low cost food, brown bag lunch  Use meal plan for dinner-keep inexpensive food for breakfast and lunch  Participate in free college activities  Use free college transportation

9.  Typical Undergraduate Financial Aid Process Summary Fall Semester Senior Year In High School After January 1 st Late Feb.- MarchApril- May Inquire about scholarship/grant application processes at college(s) www.hofstra.edu/scholarshi p 516-463-8000 www.hofstra.edu/scholarshi p Males must register for Selective Service upon reaching the age of 18 years old www.sss.gov www.sss.gov Student and one parent apply for FSA ID www.studentaid.gov/FSAID 1-800-433-3243 www.studentaid.gov/FSAID If required by college, file the CSS/Financial Aid PROFILE after October 1 st (fee required) www.collegeboard.com 305-829-9793 (not required by Hofstra) www.collegeboard.com File the FAFSA www.fafsa.gov 1-800-433-3243 (Hofstra’s preferred deadline is February 1 st ) www.fafsa.gov Apply for state aid NY State: link following the FAFSA www.hesc.ny.gov 1-888-697-4372 www.hesc.ny.gov Many Colleges/Universities begin to send out financial aid packages Complete verification if required, request student and parent federal tax return transcripts from the IRS www.irs.gov/transcript 1-800-908-9946 www.irs.gov/transcript Submit other requested forms (proof of citizenship, selective service) Accept/decline financial aid no later than May 1 st, the National Reply Date, and pay tuition & housing deposits (sooner if required by the college(s)) In May, student completes federal Stafford Loan Entrance Counseling & Master Promissory Note www.studentloans.gov 1-800-557-7394 www.studentloans.gov In May, parent completes federal Parent PLUS Loan Application Request & Master Promissory Note www.studentloans.gov 1-800-557-7394 www.studentloans.gov In May, if participating, student and cosigner completes alternative loan application www.finaid.org/loans/private studentloans.phtml www.finaid.org/loans/private studentloans.phtml Note: Links are provided as a general information resource for the use of visitors to the web site. The links provided are maintained by their respective organizations and they are solely responsible for their content. Hofstra does not favor one link over the other, nor does Hofstra endorse or profit, in whole or in part, from any products or services offered or promoted by any of the web sites whose links appear.

10. 2016-2017 FAFSA on the Web Preview Presentation December 2015

27. These fields are pre-filled based on FAFSA responses

48.  Questions? For more information: *Note: Links are provided as a general information resource. The links provided are maintained by their respective organizations and they are solely responsible for their content. Hofstra does not favor one link over the other, nor does Hofstra endorse or profit, in whole or in part, from any products or services offered or promoted by any of the websites whose links appear.  Federal Aid www.studentaid.govwww.studentaid.gov  NYS Aid www.hesc.ny.govwww.hesc.ny.gov  FAFSA www.FAFSA.ed.govwww.FAFSA.ed.gov  FAFSA Worksheet https://fafsa.ed.gov/help/ffdef44.htm https://fafsa.ed.gov/help/ffdef44.htm  CSS Profile www.CollegeBoard.comwww.CollegeBoard.com  General info. www.finaid.orgwww.finaid.org  FAFSA Workshop www.hofstra.edu/sfs “Financial Aid” > “Workshops”www.hofstra.edu/sfs