1. Financial Aid & Scholarships
SAT PREP

2. Some Acronyms to Know EFC: Estimated Family Contribution
FAFSA: Free Application for Federal Student Aid
NPC: Net Price Calculator
SAR: Student Aid Report

3. Some Acronyms to Know EFC: Estimated Family Contribution
Determines student’s need for financial aid
Compares family income to cost of living
FAFSA & CSS PROFILE are usually used to determine EFC

4. Some Acronyms to Know FAFSA: Free Application for Federal Student Aid
Determines a student’s financial aid
Apply online at
Applications open October 1st: check out the link below for more information

5. Some Acronyms to Know NPC: Net Price Calculators
Each college must have one on its website
Estimates out-of-pocket expenses families should anticipate at that college
DO NOT EXPECT PRECISION!! Just a ball-park estimate

6. Some Acronyms to Know SAR: Student Aid Report
A form sent to student after submitting FAFSA
Shows information that was processed
EFC
Shows Pell Grant & other grant/loan eligibility
Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree

7. What is the CSS Profile?
An online application that collects information used by nearly 400 colleges and scholarship programs to award non-federal aid.
For federal aid you must complete the FAFSA, available Oct. 1 at fafsa.ed.gov
Check your colleges’ information to determine whether they require the CSS Profile.
A list of participating colleges is also found on the CSS Profile Homepage: cssprofile.org
Initial application is $25
Additional reports are $16.
First-time domestic college applicants may receive CSS Profile fee waivers if the student:
Qualified for an SAT fee waiver
Is an orphan or ward of the court under the age of 24
Qualifies based on parental income and family size (e.g. family of 4 would qualify with income of $45,000 or less).

8. OTHER BUZZ WORDS & PHRASES TO KNOW
TOTAL COST OF ATTENDANCE: All potential expenses of college
FINANCIAL AID AWARD: After you have been accepted to a college and you have demonstrated financial need, you will receive a financial aid award that details the amount of assistance you will receive from all funding sources
Tuition, student/institution fees, books
Living (rent, amenities, food, etc.)
DEMONSTRATED FINANCIAL NEED: The difference between your EFC and the total cost of attendance
GIFT AID: funds that do no need to be repaid (scholarships, grants)
If EFC falls short of covering college expenses, that will be taken into account when you apply for federal or other financial aid
GRANT: a type of financial aid award based on need or merit that does not require payment

9. OTHER BUZZ WORDS & PHRASES TO KNOW
LOAN: Money given to a student/family in exchange for future repayment of the loan value amount, along with interest or other finance charges.
MERIT-BASED AID: Financial aid that is awarded based on a student’s talent
Academic
Leadership
DEFAULT ON A LOAN: Failure to repay a student loan according to the terms of the loan
Artistic
Sports
INTEREST: A fee charged when you take out a loan (calculated as a percentage of the principal loan amount)
WORK-STUDY: An opportunity for a student to work part-time and attend college
Library
Look for low-interest loans!
Cafeteria
Teaching/Research
Gym/Recreation Center

10. SOME USEFUL WEBSITES Scholarship Websites Financial Aid Website
Financial Aid Website