1. Applying for Financial Aid
Presented by:
Financial Aid Office
Los Angeles Mission College

2. Basic premises of financial aid
Students and parents are considered the primary sources for funding a college education and are expected to contribute to the extent they are able
Financial aid measures a family’s ability, not willingness, to pay for a college education

3. Basic premises of financial aid
Financial aid is supplemental to the family’s resources, student earnings, and assistance from other sources
Do not expect financial aid to meet basic living needs
Financial aid is intended to pay for education-related expenses

4. Three key concepts Cost of Attendance
Expected Family Contribution (EFC)
Financial Need

5. Cost of Attendance Tuition & Fees Books & Supplies Room & Board
Personal Expenses
Transportation

6. The Expected Family Contribution
The Expected Family Contribution (EFC) is the amount a family (student and parents) is expected to contribute, based on income and assets, to the total cost of a student’s education

7. Cost of Attendance - Family Contribution = Financial Need
What is financial need?
Cost of Attendance - Family Contribution = Financial Need

8. How the formula works
CCC CSU UC Private Cost $14,000 $25,000 $33,000 $68,000 EFC 4,000 4,000 4,000 4,000 Need $10,000 $21,000 $29,000 $64,000

9. Types of financial aid
Gift Aid - Grants or scholarships that do not need to be repaid
Work - Money earned by the student as payment for a job on or off campus
Loans - Borrowed money to be paid back with interest

10. Sources of financial aid
Federal Government
State Governments
Colleges and universities
Private organizations/agencies
High school clubs and organizations
Local clubs (Lions, Elks, VFW, etc.)
Scholarship foundations
Employers

11. Federal financial aid Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
TEACH Grant
Federal Work-Study (FWS)
Federal Direct Stafford student loans
Federal PLUS (Parent) loans

12. State financial aid
California residents* attending California colleges may qualify for:
Cal Grant A, B or C
Board of Governors enrollment fee waiver (BOG) (at community colleges)
Middle Class Scholarship (UC and CSU schools)
Chafee Grant- available for current or former foster youth
March 2nd deadline for FAFSA* + GPA! (* or California Dream Act Application)

13. *Financial aid for undocumented students
AB540 eligible students may be eligible to apply for state and private financial aid:
Private scholarships
Cal Grant A (Entitlement)
Cal Grant B (Entitlement)
Board of Governors (BOG) Fee Waiver
Apply through the California Dream Act Application (CADAA)

14. California Dream Act

15. How to apply for financial aid
FAFSA (Free Application for Federal Student Aid)
Cal Grant GPA Verification
Most high schools submit GPAs electronically!
CSS Financial Aid PROFILE
Other requested documents & institutional forms

16. FAFSA/CADAA available October 1st
Will deadlines be earlier?
Cal Grants – still March 2nd
Most school deadlines won’t change
Which Tax Year do we use on the FAFSA/CADAA?
For the academic year, use 2016 income tax return info
Will students receive earlier Award Letters?
Possibly – some schools will, others won’t

17. FASFA on the Web

18. Get your FSA ID!
FSA ID is a username and password used to log into USDE websites
FAFSA on the Web (
My Federal Student Aid (
StudentLoans.gov

21. “Save Key” is not FSA ID

24. 1 2 3

27. Whose info goes on a FAFSA/CADAA?
The FAFSA & CADAA use the relationship of the parent to the student, vs. the legal relationship between parents for the basis of collecting information
Relationship of Student to Parent
Includes both parents’ incomes on the app?
Only includes one parent’s income on the app?
Parents married, living together
YES NO
Parents not married, living together
Parent is widowed, not remarried
Parents are divorced or separated, not living together
YES (include the parent the student lived with most during the last 12 months. If equal time, include the income and assets from the custodial parent who provided most of the student’s financial support during the last 12 months)
Parent and step-parent, living together
Legal guardians*
Foster Parents*
Grandparents, brothers, sisters, uncles, or aunts*
“Parent” means biological/adoptive parent – gender of biological or adoptive parents is not relevant.
*Students living with legal guardians, foster parents, or relatives are usually considered to be independent students, unless adopted.

33. CSS/Financial Aid PROFILE
Used by some independent colleges
Used to award college-funded grants and scholarships (non-federal or state aid)
Requires more detailed information than the FAFSA
Submit PROFILE online at:
$25 registration fee, includes reporting to one college
$16 reporting fee for each additional college
Fee waiver eligibility determined automatically online
Some colleges in California using the PROFILE: USC, Stanford, Occidental, CalTech, Santa Clara, the Claremont colleges, U of San Francisco

34. Scholarships
Available from colleges, companies, community-based and other organizations
Require separate applications
May require transcript, essay, interview, or audition
Check with your high school counselor about scholarship opportunities through the high school
Make use of free online web resources
Beware of scholarship search companies that charge a fee

35. Free scholarship searches
FastWeb.com
BigFuture.CollegeBoard.org
Scholarships.com
CollegeAnswer.com
ScholarshipExperts.com
StudentScholarshipSearch.com

36. Financial aid process Submit the FAFSA/CADAA and other forms
College determines need & eligibility
College packages financial aid
College sends award letter (award offer)
Family reviews and compares offers
Student selects their school; accepts/ declines self-help financial aid

37. Special circumstances
Contact the Financial Aid Office if there is a change in circumstances such as:
A loss or reduction in parent or student income or assets
A death or serious illness
Unusual medical or dental expenses not covered by insurance
Reduction in child support or other non-taxable income or benefit
Financial responsibility for elderly grandparents
Other circumstances that affect your ability to contribute
Each school may handle/accept your circumstances differently!

38. Before making a decision
Consider all factors, not just cost, when choosing your college!
Academic program
Campus feel
Opportunities for campus involvement
Employment placement assistance

39. Don’t forget…
Still have some questions? CALL US! Every college has a Financial Aid Office
On the internet:
Call the Federal Student Aid Information Center at
See your school counselor

40. Link to tonight’s information
FAFSA Nite presentation (PDF document)
Bit.ly/FAFSANite1819

41. Enlace a la presentación
Presentación FAFSA Nite (Documento PDF)
Bit.ly/FAFSANite1819-SP