1. Financial Aid Workshop Class of 2017
Mr. Milian
Jose Marti MAST 6-12 Academy

2. WHO WANTS MONEY FOR COLLEGE?

3. What I will try to answer:
What is financial aid?
Difference between scholarships and need based aid.
Types of Federal and State Financial Aid
How do I apply?
What happens next?
Understanding college award letters
Where can I get more info?

4. What is Need Based Financial Aid ? What is a Scholarship?
Family eligibility and ability to pay (based on)
Cost of College
Family Contribution (EFC)
Availability of Funding Based on Level of Need
and Available Aid Funding
Types of Need Based Financial Aid
Grants
Loans
Work Study
Scholarships are performance based – grades, test scores, athletics, the arts, etc

5. CSS Profile
The PROFILE is used to help award nonfederal student aid funds from certain colleges and universities
The CSS/Financial Aid PROFILE is only available online, starting October of senior year at:
There is a fee to apply and only a limited number of fee waivers are granted based on the financial information provided on the PROFILE

9. How to Apply for Federal Aid
Complete an electronic Free Application for Federal Student Aid (FAFSA) on or after October 1st (Contact college/university for exact deadline dates)
FAFSA on the Web at:

10. http://www.fafsa.ed.gov/ NOT www.fafsa.com this is a pay site

11. Documents Needed Social Security Number Driver's license (if any)
2015 W-2 Forms and other records of money earned
Student’s (and spouse's if married) 2015 Federal Income Tax Return –(IRS Form 1040, 1040A, 1040EZ)
Parents' 2015 Federal Income Tax Return (if dependent student)
2015 untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records

12. Documents Needed Most recent bank statements
Most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
Alien registration number or permanent residence card (if you are not a U.S. citizen) .
Keep these records! You may need them again. Do not mail your records with your signature page.

13. Which FAFSA form do I file?
Attending College
Use FAFSA Form
Use IRS Income Tax From
Beginning Summer 2017
Then Fall 2017
2016 – 2017 FAFSA
2017 – 2018 FAFSA
2015
Beginning Fall 2017
It is important to note the type of deadline you are up against. Ask your college/university about their definition of an application deadline, whether it is the receipt date and time or the process date and time of the application.

14. Get an FSA ID Your FSA ID is your electronic signature Request FSA ID
one for the student
one for the parent
Use FSA ID to file and make online corrections

15. How does it all work?

16. Financial Aid Includes
Grants: Gift, doesn’t have to be repaid
Loans: Must be repaid with interest
Work-study: Job on campus. Earn money while in school

17. Federal Financial Aid Grants
2017 – 2018 Award Amounts (Grants)
Federal Pell Grant (estimated): up to $5,815
Federal Supplemental Educational Opportunity Grant (SEOG): $100 - $4,000
Federal Work Study
A job: Admissions office, library, for a professor, the gym
You will be paid by check for work
Flexibility for vacations, summers, tests.

18. Federal Student Loans
Federal Perkins Loan is up to $5,500 with a 5% interest rate
Direct Subsidized Loan: Interest deferred while in college.
Direct Unsubsidized Loan: Interest accumulates while in college
Direct Parent PLUS Loan - no minimum amount
6.31% interest rate
Repayment usually begins 6-9 months after graduation
Academic Year
Interest rate
Unsub. Loan
Sub.
Loan
Max Total
Freshman
3.76%
$2,000
3,500
$ 5,500
Sophomore
4,500
$ 6,500
Junior/Senior
5,500
$ 7,500

19. State Financial Aid Visit OSFA Website at

20. Florida State Financial Aid
Application available in December of senior year at
Students must apply to be considered for:
Bright Futures Scholarship
Florida Student Assistant Grant
Florida Work Experience Program
Jose Marti Scholarship

21. State of Florida Merit and Need Based Aid Programs
Scholarship Name
Award Amount
FFAA Required
FAFSA required
Bright Futures Scholarship
FAS $3,090.00
FMS $2,310.00 X
José Martí Scholarship Challenge Grant
$2,000.00
Mary McLeod Bethune Scholarship
FAMU, EWC, BCU, FMU
Varies
Rosewood Family Scholarship
Full Tuition
Florida Incentive Scholarship
National Merit/Achievement designated
Tuition (minus) BF Award
Scholarships for Children and Spouses of Deceased or Disabled Veterans
Grant Name
First Generation Matching Grant
Florida Resident Access Grant (FRAG)
Attending an eligible private, non-profit Florida institution.
Up to $3,000.
Florida Student Assistance Grant (FSAG)
Attending a Florida Private/Public institution.
Up to $2,610.
Access to Better Learning and Education (ABLE) Grant
Selected Private Institutions
Up to $1,500.
Florida Work Experience Program
Awards are given through your college’s Financial Aid Office

22. Florida Bright Futures 2013 – 2014 and after
BF PROGRAM
Award
Flat Rate
Payout
GPA
Requirement
SAT/ACT
Requirements
Community
Service
FLORIDA ACADEMIC SCHOLARS
$103 per credit hr.
30 credit payout: $3,090.00
120 credits total
3.5 weighted BF GPA
16 core academic
Classes
1290 SAT
29 ACT
100 hours of community service
FLORIDA MEDALLION SCHOLARS
$77 per credit hr.
30 credit payout: $2,310.00
3.0 weighted BF GPA
16 core academic classes
SAT
26 ACT
75 hours of community service
FLORIDA GOLD SEAL VOC. SCHOLARS
100% of program of study up to 72 credit hours in an AS, AAS, CCC or PSAV’s:
60 credit hours in ATD’s
Does not apply to AA, BA or BS degree
3.5 weighted GPA in 3 vocational credits SAME
program
SAT
M 440 / CR 440
ACT
E / R 18
M 19
CPT
R 83 / S 83
Algebra
30 hours of community service
Number of years to Receive Initial Funding
Number of years of Funding Available
Within 2 years of High School Graduation
Up to 5 years from High School Graduation

23. How and when will I be notified of my BRIGHT FUTURES eligibility?
The applicant’s award status notification will be posted to the applicant’s FFAA account. PLEASE CHECK STATUS REGULARLY and make changes as needed.

24. How do I receive the money?
The student must designate which post- secondary institution that they will attend in the fall semester.
Your college will be given names and SSN electronically of all eligible students.
At the end of the drop/add period, funds are either applied to the student’s account at the college or given to the student in a check.

25. Bright Future Look-Up
Students can access their own Bright Futures record on-line. Each student receives a PIN/login info when they apply.
This PIN enables students to view their eligibility status and update name, address, and school of attendance.
A history of the hours and dollars disbursed to each student is also available.

26. Students Must Maintain
Renewal
Full-time students must earn 24 semester hours (or the equivalent) per academic year
Students MAY enroll part-time and receive Bright Futures funding. Part-time students must enroll in a minimum of 6 hours per term
Students Must Maintain
Florida Academic Scholars GPA
Florida Merit Scholars GPA
Florida Gold Seal Scholars GPA

27. FAFSA Myths

28. Things to Remember….
Apply for the State Financial Aid after December 1st at
Apply for the CSS Profile (if required) as soon as possible before deadline set by school (registration opens in October) at
Request FSA ID for you and one for your parent as soon as possible for FAFSA at
Apply for FAFSA after October 1st at (Contact schools for exact deadline dates)

29. IMPORTANT
When you complete your FAFSA, please print out the confirmation page and bring it to Mr. Milian. Please write your name and ID number on the top of the page

30. EVALUATING FINANCIAL AID LETTERS

32. Cost of Attendance (COA)
COA includes:
Tuition and fees (varies depending on credit hours taken)
Books and supplies (varies by cost of books)
Room and board (varies by type of room and meal plan desired)
Transportation (fly, or drive)
Personal expenses (clothing, entertainment, food)
The cost of attendance may be included somewhere on your letter. This may be referred to as “direct costs,” “student budget,” or “student expenses.” However it is identified, it’s important to make sure that this is the cost of attendance for your specific program. If you’re unsure of the cost for your program, contact your financial aid office. Also, the cost of attendance includes more than just your tuition and is usually based on full-time enrollment. Colleges include other costs such as books and room and board. The cost of attendance may include:
Tuition and fees: This is the amount your classes will cost. The actual cost will depend on your program, the number of credits you plan to take, and any special charges such as laboratory fees or equipment that you may need for your program. Keep in mind you may not know the actual amount until you receive your bill.
Books and supplies: This cost includes an estimate for your textbooks, as well as any specialized supplies, such as a calculator.
Room and board: This includes your housing, as well as an allowance for meals. The housing allowance can vary greatly, depending on whether you plan to live on campus, off campus, or at home with your parents.
Transportation: This includes the cost of getting to and from school each day. It may cover parking and maintenance of a car or bus fare for the year.
Personal expenses: This cost includes everyday necessities, such as personal hygiene and laundry expenses, as well as medical, entertainment, and other general expenses.
COA may be referred to as “direct costs,” “student budget,” or “student expenses.”

33. How it works
College Cost of Attendance - Expected Family Contribution (EFC) = Financial Need Financial Aid Award Unmet Need (Gap)

34. FLORIDA INTERNATIONAL UNIVERSITY Financial Aid Summary

35. MARIST COLLEGE

36. EMORY UNIVERSITY

37. BOSTON UNIVERSITY Financial Aid Award Letter

38. LYCOMING COLLEGE Financial Aid Award Letter

39. PROVIDENCE COLLEGE Financial Aid Award Letter

40. UNIVERSITY OF CENTRAL FLORIDA

41. FLAGLER COLLEGE

42. COLUMBIA COLLEGE IN CHICAGO

43. RUTGERS UNIVERSITY

44. SAINT LEO UNIVERSITY

45. CLARK UNIVERSITY
Cost of attendance: $51,250

46. UNIVERSITY OF MIAMI

47. FLORIDA STATE UNIVERSITY

48. Ways to reduce college costs
Campus Housing and Dining Services are self-supporting
First year students may be able to get a job that both pays hourly and provides meals for a reduced cost or free
Rent text books
Off-campus housing
However, you must consider:
Lease agreement
Utilities
Time for food purchase and prep
House cleaning time and products
Commuting time and/or parking
Once you do the math, you really have to ask yourself is it worth it?

49. AFTER YEAR 1, HOW CAN I GET MORE MONEY?
#1 - fill out your FAFSA
#2 – understand your scholarship renewal requirements
#3 – keep your EYES open while passing by bulletin boards in your potential major building
#4 – pass by financial aid office and check on scholarships
#5 – continue to receive my scholarship bulletin
#6 – academic advisor and financial aid advisor don’t speak the same language

50. ********************************
Remember: Please inform each college that you decide not to attend with a simple notification. This will help to free up students on the wait list for admission.
********************************
Dear________;
This is to inform you that I have decided to attend college elsewhere. I would like to thank you for the opportunity of being considered for admission into your fine institution and wish you well with your incoming freshmen class.
Regards,