1. 1 Financial Aid What is it & what types are there? Who is eligible? How to apply for FAFSA FAFSA on the Web After you apply… Other Resources

2. 2 What is it and what types are there? Federal or nonfederal financial assistance for College Federal or nonfederal financial assistance for College 4 Types: 4 Types: 1) Loans: money borrowed & must be repaid  Direct: through Fed. Govt. (Stafford/ FFEL) Subsidized: need based Unsubsidized: not need based  Perkins: Campus-based 2) Grants: money that never has to be repaid. Awarded based on need (Pell) 3) Federal Work-Study: Money earned while working in college; never repaid 4) Scholarships: money that never has to be repaid!

3. 3 Who is eligible? You need: High school diploma/GED* U.S. Citizen/National/Permanent resident S.S. number To qualify for financial assistance Males- must register with Selective Service To keep Financial Aid during college… Enrolled in an eligible program Be working toward a degree Maintain satisfactory GPA

4. 4 How to apply for FAFSA… 1. Get a PIN number at www.pin.ed.gov  (Submit College Applications – Nov/Dec.) 2. Gather needed documents:  SS #, W-2 forms, income tax statements, license. 3. Complete FAFSA on the WEB worksheet - in December 4. Complete & submit FAFSA application on-line at www.fafsa.ed.gov  When: ASAP after Jan 1 st (deadline is Jun. 30 th, 2009)  Paper form - high school, library, college

5. 5 FAFSA on the web It’s FREE to apply! Your application is processed quicker online! Apply early - deadline June 30 th, 2009 Use electronic PIN # for corrections, & signature Receive e-mail confirmation when application is processed For a head-start.. NEW! Estimate your aid package before applying at FAFSA4CASTER at www.FederalStudentAid.ed.gov On-line Pre-application worksheet in December Web demo - thru Dec. On-line Customer Service Chat System

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8. 8 You’ve applied, now what?  Receive & review SAR (Student Aid Report) for accuracy.  Tells you your EFC – Expected Family Contribution  Cost of School – EFC = Financial Need  TIP: online Quick EFC Calculator: http://www.finaid.org/calculators/quickefc.phtml  Submit SAR for reprocessing  Your FAFSA results will be sent to colleges you selected  All correspondence & ?s at this point should be with individual SCHOOLS, not FAFSA processors.  Receive Financial Aid Award Letter from colleges detailing your financial aid package. COMPARE PACKAGES!  (Usually March – April)  Choose which school you will attend and notify them by MAY 1.

9. 9 Other $$ Sources… Apply for SCHOLARSHIPS - Free $$  School Counseling Office, Colleges, & internet Nonfederal aid: state, private, school National & Community Service  www.americorps.org Military assistance Veterans benefits - GI Bill  www.gibill.va.gov Tax breaks – save up to $1,500!  www.irs.gov

10. 10 Useful Resources FAFSA PIN # …………………...www.pin.ed.gov FAFSA form & useful tools…..www.fafsa.ed.gov Federal Student Aid Information Center…..1-800-4-FED-AID (1-800-433-3243) Web FAFSA demo …………….http://fafsademo.test.ed.gov FAFSA4CASTER ………………www.FederalStudentAid.ed.gov Online Quick EFC Calculator: http://www.finaid.org/calculators/quickefc.phtml FinAid! Website……………….www.finaid.org U.S. Dept. of Education Info…www.studentaid.ed.gov College Financial Aid Office Your High School Counselor Your High School’s Financial Aid Night!!  OHS: January 8 th, 2009 David H. Aramaki, MBA: Financial Advisor/Advanced Advisor Group Financial Education Specialist Ameriprise Financial Services, Inc. 601 - 108th Avenue NE, Suite 1900 Bellevue, WA 98004 Office: 206.267.8811 Fax: 1.800.747.2093 david.h.aramaki@ampf.com

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