1. Financial Aid 2010-2011 University of Portland & Mt Hood Community College Office of Financial Aid

2. Agenda What is financial aid? How to get financial aid? Where to go for help?

3. Pop quiz! True or false ? –Just like in high school, the government is responsible for paying for a college education

4. What is Financial Aid? Money from: Government Agencies Private Individuals Parents Grandparents Saving Plans Businesses Yourself

5. So….where to start?

6. PIN Apply for a PIN www.pin.ed.gov Parents & students will have separate PIN’s

7. Worksheet Download the FAFSA Worksheet Complete worksheet. (Questions can be resolved w/o being online) Use this to complete the online application. (www.fafsa.ed.gov)

8. Apply … online www.fafsa.ed.gov or www.fafsa.gov

9. When? Complete the Free Application for Federal Student Aid (FAFSA) each and every year Submit as soon as possible after January 1 st “FAFSAs then Taxes” If paper application is needed, then call 1-800-4FEDAID to request a paper copy

10. What will be needed? For student & parent Social Security Number and Legal name –(Refer to the social security card) Alien registration or permanent resident card (if not a U.S. citizen) Driver's license number (if any) 2009 W-2s, 1099 Forms and other records of earned income 2009 Federal Income Tax Return (estimate if not done) –IRS 1040, 1040A, 1040 EZ 2009 untaxed income records –Veterans non-educational benefits –Tax deferred programs Current bank statements Current business and investment information

11. Common FAFSA Errors Parent information: SSNs, DOBs, Names Divorced/remarried parent information Income earned by parents/stepparents Untaxed income(refer to FAFSA worksheet) U.S. income taxes PAID Household size Number in college Real estate and investment net value (Sold Value – Owed = Net Value)

12. What does Financial Aid pay for?

13. Cost of Attendance Tuition (full or part time) Fees Books and Supplies Room and Board Transportation Personal Miscellaneous: (variable) –Tools –Child Care expense –Adaptive needs for the disabled

14. Definition of aid eligibility Cost of Attendance (COA) – Expected Family Contribution (EFC) = Eligibility for need-based Financial Aid

15. Eligibility varies based on cost

16. Packaged Award May include - Grants Federal Work Study Loans Tuition Waivers Scholarships (must separately apply for these)

17. “Free” Gift Aid Federal Pell Grant Federal Supplemental Educational Opportunity Grant (SEOG) Oregon Opportunity Grant Institutional Grants Scholarships Talent Waivers Recognition Awards

18. Additional Federal grants Academic Competitive (ACG) Grant Science and Mathematics Access to Retain Talent (SMART) Grant Teacher Education Assistance for College and Higher Education (TEACH) Grant –Only non-need based federal grant***

19. Work programs Federal Work Study Institutional Student Employment Programs Veteran Work Study Cooperative Education Work Programs –Volunteer/Paid: Directly related to a program.

20. Loans Federal Perkins Loan Subsidized Federal Loan Unsubsidized Federal Loan Federal Parent/Graduate (PLUS) Loan Institutional Loans Alternative/Private Loans Credit Cards

21. Most aid is conditional ! Must pass courses with at least a 2.0 GPA (“C”) Must complete courses that aid pays for Some programs/scholarships require keeping higher GPAs Some programs require full time enrollment

22. FEDERAL GRANTS FEDERAL WORK STUDY PROGRAMS FEDERAL LOANS Federal Aid has only 3 ways to help

23. FAFSA may be the key to other aid too Scholarships Tribal Funds Voc Rehab Funds Job Training State Grants Much…Much more

24. Remember Everyone should apply! –Don’t assume you are not eligible –Everyone, at least, is eligible for loans DO NOT WAIT to file taxes ESTIMATE if you can “FAFSAs then Taxes”

25. Read the Mail

26. AND EMAIL

27. Solid tips to remember 1.Every student should apply for aid. 2.Deadlines do matter. 3.All Aid Applications are not the same. 4.Students should know what colleges mean by “family contribution”. (EFC) 5.Students should know what is in their Cost of Attendance. (COA) 6.Eligibility and Need are not always the same. 7.There is a BIG difference between need-based aid and merit aid. 8.There are different forms of aid. 9.Award letters vary. 10.Award letters can be appealed.

28. Pop quiz! True or false ? –Only students with a 4.0 GPA receive scholarships

29. Scholarships Can find them everywhere… Internet Searches High Schools Financial Aid Offices Libraries Community Organizations State Agencies Credit Unions Employers Volunteer Associations Kitchen table…

30. Caution !

31. Avoid being scammed U.S. Department of Education: www.studentaid.ed.gov Federal Trade Commission: www.ftc.gov Better Business Bureau: www.bbb.com

32. Helpful places High Schools College Financial Aid Offices 800-4FEDAID Oregon Student Assistance Commission(OSAC) www.getcollegefunds.org

33. Helpful web sites Financial Aid Page: www.finaid.org Scholarship searches & Scams Title IV codes EFC estimator FAFSA4caster: www.fafsa4caster.ed.gov Explore and get familiar Estimate eligibility Will transfer to FAFSA on the Web U.S. Department of Education: www.ed.gov Student Guide Title IV codes

34. Helpful web sites Federal Student Aid www.studentaid.ed.gov College Answer www.collegeanswer.com College Board www.collegeboard.org Petersons Guide www.petersons.com/ugrad

35. Just do it ! ! ! ! !

36. Important dates: 2010-2011 FAFSA available: January 1, 2010 www.FAFSA.ed.gov or www.fafsa.gov 2010-2011 Oregon Student Assistance Commission (OSAC) Scholarship Packet Early Bird Deadline: February 16, 2010 Deadline: March 1, 2010 www.getcollegefunds.org

37. QUESTIONS???