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 Log into Moodle and complete today’s Bell Ringer  You will need headphones, so there are some in the back if you don't have your own REMINDER: Remember.

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Presentation on theme: " Log into Moodle and complete today’s Bell Ringer  You will need headphones, so there are some in the back if you don't have your own REMINDER: Remember."— Presentation transcript:

1  Log into Moodle and complete today’s Bell Ringer  You will need headphones, so there are some in the back if you don't have your own REMINDER: Remember to be checking my website if you were absent or didn’t get work done the day before AGENDA: 11:30 – 11:45: Bell Ringer 11:45 – 12:25: Financial Aid Notes 12: 25 – 12:30: Break 12:30-1:00: Education Prezi Section #3 OUTCOMES: 1. Describe 3 ways to get money for college

2 How do I afford college? Where can I get the money to pay for the tuition, room and board?

3  What is the FAFSA and what does it do for me?  Where can I get money to go to college?  What are loans versus grants?  What are scholarships and how can I get a scholarship?

4  Mom & Dad?  All You?  Borrowing?  Military?  Free?

5  Complete a FAFSA  The application is used to determine the dollar amount you or your family will be expected to contribute towards college  Should complete the spring of Senior Year  Complete after taxes are done for the previous year.  Need to know ▪ How much family earns ▪ Expenses ▪ Write-offs ▪ Deductions

6  www.fafsa.ed.gov www.fafsa.ed.gov

7  All federal grant and loan awards are determined by the FAFSA  Nearly all colleges use the FAFSA as the basis for their own financial aid awards.  The FAFSA requires information in five categories:  Information about the student  Information about the student’s dependency status  Information about the student’s parents  Information about the student’s finances  A list of the schools that should receive the results of the FAFSA

8  Students can fill out the FAFSA online at the FAFSA website FAFSA website  Can apply through the mail with a paper form.  The Office of Federal Student Aid strongly recommends the online application because it conducts immediate error checking, and it tends to speed up the application process by a few weeks.

9  Listen to announcements  LTSD Guidance Department offers a FAFSA night.  You and your parents bring all your tax information and the guidance department walks you through completing the application and answering questions.  Sometime in February

10  Determined by FAFSA  Grants, unlike loans, do not have to be repaid.  Many different Grants:  Federal Pell Grant  Federal Supplemental Educational Opportunity Grant (FSEOG)  The Academic Competitiveness Grant (ACG)

11  Pell Grants are awarded usually only to undergraduate students  For the 2012-13 award year, the maximum award is $5,550  The amount you get, though, will depend on:  Financial need  Costs to attend school  Status as a full-time or part-time student  Your plans to attend school for a full academic year or less.

12  There are 3 ways to receive your money:  Your school can apply Pell Grant funds directly to your school costs  School can pay you directly (usually by check)  Or, a combination of these methods.  The school must tell you in writing how much your award will be and how and when you'll be paid.  Schools must disburse funds at least once per term (semester, trimester, or quarter).

13  U.S. Department of Education administers the Federal Family Education Loan (FFEL) Program and the William D. Ford Federal Direct Loan (Direct Loan) Program.  Stafford Loans (for students)  PLUS Loans for parents (and graduate and professional degree students)

14  For either type of loan, you must fill out a FAFSA.  After your FAFSA is processed, your school will review the results and will inform you about your loan eligibility.  You also will have to sign a promissory note, a binding legal document that lists:  The conditions under which you're borrowing  The terms under which you agree to repay your loan.

15  It depends on your year in school and whether you have a subsidized or unsubsidized Direct or FFEL Stafford Loan.  A subsidized loan is awarded on the basis of financial need.  If you're eligible for a subsidized loan, the government will pay (subsidize) the interest on your loan while you're in school, and for the first six months after you leave school

16  Unsubsidized loan  You are responsible for the interest accrued from the time the loan is disbursed until it's paid in full.  You can choose to pay the interest or allow it to accrue (accumulate)

17  For both the Direct Loan and FFEL programs, you'll be paid through your school in at least two installments.  Your loan money must first be applied to pay for tuition and fees, room and board, and other school charges.  If loan money remains, you'll receive the funds by check or in cash, unless you give the school written authorization to hold the funds until later in the enrollment period.

18  Private student loans  Can help pay for all of your college needs—from undergraduate through graduate/professional school.  Private student loans, also called alternative college loans, can be used to cover most qualified education expenses.  They can provide critical assistance when federal student loans, grants and scholarships are not enough to cover the full cost of your higher education.

19  A college scholarship is a monetary award based on criteria given by the awarding party.  It can be given on the basis of academic merit, athletic ability, financial needs or other criteria specific to the group giving the award.  Search for scholarships online  Check out the guidance office and bulletin board for local scholarships.

20  Many scholarships require you to provide them with some combination of the following:  Transcript  Standardized test scores  Financial aid forms, such as the FAFSA or PROFILEFAFSAPROFILE  Parent's financial information, including tax returns  One or more essays  One or more letters of recommendation  Proof of eligibility (e.g. membership credentials)

21  Please log into Moodle and complete today’s Exit Slip  When you finish, save and UPLOAD today’s notes REMINDER: Education Unit Test on Friday -Tomorrow you will have time to print your notes if you would like

22 1. Complete Section 3 of your Prezi  Directions are on Moodle  TIP: You are only completing one Prezi – I’m just giving the required information to you in 4 different sections  If you finish, start on the last section – Section 4!


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