1. Financial Aid For
1321 Butte St. Suite 101 Redding, CA 96001
CALL (530) for an appointment
FAX
Serving students and families in the North State since 2003
A non-profit organization securing grant funding to be able to provide
free services and resources to our region.
Serving a 5 county region – Modoc, Siskiyou, Shasta, Tehama, Trinity
 Financial aid appointments available

2. Percent Change 2003 to 2013
Source :US New and World Report

3. 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)

4. How is the EFC Calculated?
Main components:
1) Income (Parents&Student)
2) Assets (Parent&Student)
3) Number in Household
4) Number in College
5) Age of oldest parent
Student Income
Student Assets
Parent Income
State Deadline
Student Class Level
Parent Assets
Age of older parent
Number in Family and in college

5. FAFSA Process www.fafsa.ed.gov Available October 1,2017.
Submit with 2016 tax return information
See you at the Cash for College Night
If needed, make corrections after SAR is received
Submit FASFA online prior to California Deadline (March 2, 2018) or college deadline if earlier
Submit any other state requirements by State Deadline as well
Must submit FAFSA every year in college

6. Types of Financial Aid
Grants
Scholarship
Loans
Work Study

7. Financial Aid Opportunities
Limited & Middle Income families:
( Information)
Pell Grant*: $602 - $5,920/year (6 years max)
Cal Grant**: $1,672 - $12,630/year (4 years max)
BOG fee waiver***: $46 per unit (3 years max)
Access to need and merit based scholarships
Access to Workstudy (jobs on college campus)
Access to student loans
*Applies to all accredited schools in US
**Applies to all accredited and approved schools in California
***Applies to all accredited community colleges in California

8. Financial Aid Opportunities
Higher Income families:
CA Middle Class Scholarship: 10-40% of CSU or UC Fees (Qualifies up to $165,000 Income or $165,000 Assets)
Access to merit based scholarships
Access to student loans
FREE insurance – life can change between January and summer prior to student going to college
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

9. Higher Income families:
Handout
Higher Income families:
CA Middle Class Scholarship: 10-40% of CSU or UC Fees (Up to $165,000 Family Income or Assets)
Access to merit based scholarships
Access to student loans
FREE insurance – life can change between January and summer prior to student going to college
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

10. Handout

11. Handout

12. Handout

13. Handout

14. UC Berkeley Cost of Attendance
Academic Year
Living in a Campus Residence Hall
Living in an  On-Campus  Apartment
Living in an Off-Campus Apartment
Living with Relatives
Direct Costs Charged by UC Berkeley
Tuition and Fees
$14,068
Room and Board
$15,716*
$12,874*
Total Direct Costs
$29,784
$26,942
Other Estimated Costs
Housing and Utilities
$8,992
$2,630
Food
$1,558
$3,480
$4,264
$3,174
Books and Supplies
$894
Personal
$1,782
$1,780
$1,892
Transportation
$382
$542
$1,432
Total Cost of Attendance
$34,400*
$33,480
$30,540
$24,090

15. Comparison 2017/2018 COAs:
Shasta College (CA Community College) $11,164*
CSU Chico (CA Public 4-year) $24,420**
UC Davis (CA Public 4-year) $35,731**
Harvard University (Private) $73,600**
*Living with parent
**Living on Campus

16. Scenario 1: Before Advising
Student
2.95 GPA (10 & 11)
Sr. yr. GPA is 3.8
1st generation college
$17,000 in savings
$4,000 annual income
Parent(s)
Both 50 years old
Married & together
$20,000 in savings
1 other child (13 yrs old)
$54,000 annual income
EFC $4,269

17. Scenario 1: After Advising
EFC#1 EFC#2 Student net assets $17,000 $0 Student earned income $4,000 Student family size 4 Parents’ net assets $20,000 $37,000 Parents’ earned income $54,000 Parents’ taxes paid $500 Number of parents in home 2 Age of older parent 50 Expected Family Contribution $4,269 $869
Add 2nd year opportunity for Cal Grant(2.95 GPA)
Transfer student savings to parents
“2nd Swing” Cal Grant may be hugely beneficial
Use College OPTIONS Tools

18. Financial Aid Award Letters
Begin with the college’s Cost of Attendance
Example:
Tuition/Fees $15,800
Room/Board $10,000
Books/Supplies $1,500
Transportation $1,200
Personal Expenses $2,500
Total COA $31,000
Remember, COAs vary greatly between colleges

19. 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

20. 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

21. Financial Aid Award Letters
Wait, wasn’t the financial need $26,000?
Financial Need ($26,000) - Award package ($19,000) = UNMET NEED of $7,000
Don’t forget the original EFC of $5,000 to add back
Total funds for which the family is responsible:
$7,000 Unmet Need + $5,000 EFC = $12,000
Underline that EFC doesn’t necessarily equate with out of pocket expenses for college

22. Special Circumstances/Professional Judgment (Could apply to 2017 or 2018 tax years)
Colleges’ Financial Aid offices have the ability to recalculate an EFC based on significant hardships or new information
Examples:
Significant reduction of income/loss of job
Death
Abuse
Divorce/Separation
One-time settlement income
Student marriage

23. College OPTIONS Tools
Click on “Financial Aid”

24. College OPTIONS Decision Tool
Handout

25. Scenario 2: Before Advising
Student
Good grades
Strong SAT Scores
Wants to attend private university
No assets
No income
Parent(s)
Married parents
Family of four
$165,000 liquid assets; $35,000 other assets
$62,000 annual income
Home mortgage of $153,000
EFC $12,281

26. Scenario 2: After Advising
EFC#1 EFC#2 Student net assets $o Student earned income $0 Student family size 4 Parents’ net assets $200,000 $47,000 Parents’ earned income $62,000 Parents’ taxes paid $2,800 Number of parents in home 2 Age of older parent 48 Expected Student Contribution $0 $0 Expected Parent Contribution $12,281 $4,830 Expected Family Contribution $12,281 $4,830
Can use assets to pay off mortgage; primary home is NOT an asset for FAFSA
Use College OPTIONS Tools

27. Spend your Education Dollar Wisely
Graduation rate is the percentage of a school’s first-time, first-year undergraduate students who complete their program within 150% of the published time for the program. For example, for a four-year degree program, entering students who complete within six years are counted as graduates.
Retention rate is the percentage of a school’s first-time, first-year undergraduate students who continue at that school the next year. For example, a student who studies full-time in the fall semester and keeps on studying in the program in the next fall semester is counted in this rate.
Transfer rate is the percentage of a school’s first-time, first-year undergraduate students who transfer to another college within 150% of the published time for the program. For example, a student who is in a four-year degree program is counted as a transfer if the student goes to another college within six years.
College Graduation Rate Retention Rate
University of Phoenix % %
CSU Chico % %
UC Davis % %
University of Nevada, Reno % %
University of Pacific, Stockton % %
Graduation Rates-
College Comparisons-