1. Financial Aid for College
Amy Malasky
Financial Aid Advisor
Wake County Public Schools

2. Who is Ms. Malasky?
Financial Aid Advisor at Broughton, Enloe, Garner, Vernon Malone College & Career Academy, Wake STEM Early College, WYWLA and WYMLA
Available by appointment only

3. Process for College Matriculation
1. Complete college admissions application(s)
2. Complete scholarship applications
3. Complete the FAFSA
4. Receive Expected Family Contribution (EFC) and Student Aid Report (SAR)
5. Acceptance letters sent from colleges
6. Financial award letters sent from colleges
7. Make final decision about attendance and inform
8. Send final high school transcript to college & register

4. Cost of Attendance
Hard costs: Tuition Fees Room & board Soft costs: Books and supplies Transportation Living Expenses Miscellaneous

5. What is financial aid? Money for college 4 forms of financial aid
Gift aid
1. Grants
2. Scholarships
Self-help aid
3. Loans
4. Work Study/Employment

6. Grants Federal Pell Grant
undergraduate students with exceptional need
maximum award for : $5,920
Federal Supplemental Educational Opportunity Grant
priority given to Federal Pell Grant recipients
awards vary from $100 to $4,000
NC Community College Grant
awards vary from $100 to $1,500
TEACH Grant
commit to work as a full-time teacher in high-need field in a low-income school for 4 academic years
meet certain academic achievement requirements
University of North Carolina Need-Based Grant
for students attending one of the 16 UNC campuses

7. Scholarships NC Education Lottery Scholarship
amounts range from $100 - $3,000
NC Need Based Scholarship
for NC residents attending private NC colleges
NC Reach
for students currently or previously in NC’s foster care system

8. College Loans Be wise – Don’t borrow more than you need!
Commit to completing your degree program!
Direct Subsidized Loan – students who demonstrate financial need, interest is subsidized while in school
Direct Unsubsidized Loan – all students are eligible, interest begins accrual upon disbursement
PLUS loan – parent loan, credit check required
Perkins Loan – university serves as lender, not available everywhere
Forgivable Education Loans for Service – willing to work in NC in a critical employment shortage profession
Alternative/Private loan – a last resort

9. FAFSA Free Application for Federal Student Aid www.fafsa.ed.gov
EVERYONE should complete the application.
Requires 2016 income tax information
document available Oct. 1, 2017
Complete by your college’s priority deadline!
IRS Data Retrieval Tool – inputs tax info for you
FSA ID for student AND parent to “sign” document

11. What happens next? Expected Family Contribution (EFC)
Student Aid Report
Colleges receive information and create award letters
Verification possibly
Example
Cost of Attendance $20,000
- EFC $5,000
Financial Need $15,000

12. CSS/Financial Aid PROFILE®
Required in addition to FAFSA
Fee - $25/first school, thereafter $16/school
In North Carolina
Davidson College
Duke University
Elon University
University of North Carolina-Chapel Hill
Wake Forest University

13. Common Myths Community college is a waste of time.
What a relief! Once I complete the FAFSA, I never have to do it again.
Taking out loans to pay for college is a bad idea.
I can take as long as I want to finish college and still receive financial aid.
Private colleges are too expensive for me.

14. Amy Malasky
by appointment