1. Financial Aid 101 GEAR UP Stacey Garrett Phone: 530-245-1845
Toll free:
Add Toll Free

2. FREE Application for Federal Student Aid
What is the FAFSA?
FREE Application for Federal Student Aid
Universal “measuring tool” to determine family’s financial strength
Must be completed every year of college
Gateway to financial aid (Grants, Loans, Scholarships and Work Study)

3. College is not a dream…it is a plan.
Types of Financial Aid
Grants
Scholarship
Loans
Work Study
College is not a dream…it is a plan.

4. Financial Aid Opportunities
Limited Income families:
Pell Grant: $602 - $5,935/year (6 years max)
Cal Grant: $1,656 - $12,240/year (4 years max)
BOG fee waiver: $1,104/year value (3 years max)
Access to need and merit based scholarships
Access to Workstudy (jobs on college campus)
Access to student loans
Up to to $18,175/year in grant aid possible

5. Financial Aid Opportunities
Middle Income families:
Cal Grant: $5,472 - $12, 240/year (4 years max)
CA Middle Class Scholarship: 10-40% of CSU or UC Fees
BOG fee waiver: $1,104/year value (3 years max)
Access to need and merit based scholarships
Access to student loans
Between $547 - $12,240/year in grant aid possible

6. Financial Aid Opportunities
Higher Income families:
CA Middle Class Scholarship: 10-40% of CSU or UC Fees (family income up to $156,000)
Access to merit based scholarships –
CaliforniaColleges.edu
Access to student loans
FREE insurance – life can change between January and summer prior to student going to college - IMPORTANT
30 minutes to fill out application
Cal Poly San Luis Obispo requires ALL students who want to be considered for ANY scholarship from Cal Poly (whether based on need or not) to submit a financial aid application

7. When to apply for FAFSA (March 2 filing deadline is still in effect for Cal Grant-all years)

8. FAFSA Process www.fafsa.ed.gov Available October 1,2016.
Submit with 2015 tax return information
See you at the Cash for College Event – December 3rd
Submit FASFA online prior to California Deadline (March 2, 2017) or college deadline if earlier
Submit any other state requirements by State Deadline as well
Must submit FAFSA every year in college

9. Financial Aid Award Letters
Next, the college financial aid office determines the official “Financial Need”
COA – EFC = Financial Need
Example:
COA $31,000 (Cost of Attendance)
- EFC $ 5,000 (Expected Family Contribution)
Financial Need $26,000

10. Financial Aid Award Letters
College’s Financial Aid Office creates a “package” of types of financial aid to attempt to meet the Financial Need
Example:
State Grant $12,000
Local Scholarship $1,500
Federal Direct Loan $3,500
Federal Work Study $2,000
TOTAL AWARD: $19,000

11. Addressing Unmet Need and EFC:
Student job: Work study program or off-campus job
Budgeting: Food, gas, insurance savings while student is in college
Family resources: Savings, selling of assets, second mortgages, credit cards etc.
Additional government student loans (PLUS)
Private direct-to-consumer loans:
Could adversely affect your financial aid
Always discuss with your school’s financial aid department
Education tax credits
Current Income

12. Reducing College Costs
Career Planning before/during college
Changing your major (or college) costs time and money!
Internet, informational interviews, job shadowing
Apply for scholarships
Priority on local (smaller applicant pool)-Community Scholarship – RBHS Counseling Center
CaliforniaColleges.edu
If you are eligible, apply!
Use College OPTIONS Tools to evaluate and compare award letters, project costs over time, make decisions based on OBJECTIVE factors – collegeoptions.org
Consider an alternative college (i.e. community college)

13. College OPTIONS Tools
Click on “Financial Aid”

14. Thank you!
Questions?
Talk to your counselor or College OPTIONS RBHS Advisor, Cody Lane
Be sure to attend Cash for College, Dec 3rd, Shasta College TEHAMA Campus, Red Bluff
College is not a dream…It is a PLAN!