1. financial aid
Careers Unit 3
Ms. Gorski

2. Paying for College Where does financial aid come from?
US Federal Government
State Government
College You Attend
Nonprofit or Private Organizations
For federal & state aid:
No age limits
Must maintain good GPA
No drug/criminal offenses
Males must register with Selective Service
Have valid Social Security Card
Fill out the FAFSA
Be a US Citizen, have a green card, Battered Immigrant Status, Arrival-Departure Record, or T-1 Visa

3. FAFSA: Free Application for Federal Student Aid
FREE Application - never pay for it!
Requests financial information of you & your parents/guardians
Even if they’re not planning to help you pay for school!
Information analyzed by the government & determine your financial need status
Colleges look at numbers to see how much aid they can give you
Check out the FAFSA4caster to see how much you might receive

4. 2015 Expected Family Contribution Chart
Example: If your parents make $50,000 it is expected they pay $4,224 if they only have one child.
You would likely be eligible for grants and loans.
That does NOT mean the college will pay the rest! They do not have to.
2015 Expected Family Contribution Chart

5. 2 - Loans
Loans - money lent to you or your parents to pay for school, but must be repaid plus interest once you graduate or leave school
Student Loans offered by banks usually have lower interest rate
Lowest interest rates are on government-subsidized loans:
Direct Subsiddized Loans
Direct Unsubsidized Laons
Direct PLUS Loans
Direct Consolidation Loans
Perkins Loans

6. 2 - Grants
Grants - money given to you by the government to pay for college costs
Do not have to be repaid!
Restrictions apply based on financial need

7. 3 - Scholarships
Scholarships - money given to you by colleges or organizations to pay for school costs
Do not have to be repaid!
Athletic Scholarships
TONS of others
Private Companies
Parents’ Jobs
First-Generation College-Goer
Children of Immigrants
Essays, Photos, Tweets, Art, and more!

8. 4 - Work Study
Work Study - work programs at college to help you pay for school
Restrictions may apply based on financial need & jobs available

9. ASSIGNMENT
Financial Aid Webquest
DUE: Wednesday, November 23