1. Financial Aid Workshop

2. Sources of Financial Aid

3. Financial Aid Includes:
Grants: Gift, doesn’t have to be repaid
Loans: Must be repaid with interest
Work-study: Earn money while in school

4. Florida State Financial Aid
Application available in December of senior year at
Students must apply to be considered for:
Bright Futures Scholarship
Florida Student Assistance Grant
Florida Work Experience Program
Jose Marti Scholarship

5. CSS Profile
The PROFILE is used to help award nonfederal student aid funds from certain colleges and universities
The CSS/Financial Aid PROFILE is only available online starting October of senior year at:
There is a fee to apply and only a limited number of fee waivers are granted based on the financial information provided on the PROFILE

6. How to Apply for Federal Aid
Complete an electronic or paper Free Application for Federal Student Aid (FAFSA) on or after January 1st (Contact college/university for exact deadline dates)
Students will be able to obtain a paper FAFSA by calling the Federal Student Aid Information Center at FED-AID ( ) or by visiting
FAFSA on the Web at:

7. How does it all work? Student/Parent Complete FAFSA ONLINE
EFC is Determined
ISIR sent to schools
SAR sent to student
College Determines Awards student is eligible to receive
Awards are mailed to you, or posted online
Check your Status
Student decides which awards to accept, or decline. Loan amounts may be reduced

8. Get a PIN (Personal Identification Number)
Your PIN is your electronic signature
Request PIN
one PIN for the student
one PIN for the parent
Use PIN to file and make online corrections

9. Documents Needed Social Security Number Driver's license (if any)
2011 W-2 Forms and other records of money earned
Student’s (and spouse's if married) 2011 Federal Income Tax Return –(IRS Form 1040, 1040A, 1040EZ)
Parents' 2011 Federal Income Tax Return (if dependent student)
2011untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records
Most recent bank statements
Most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
Alien registration number or permanent residence card (if you are not a U.S. citizen) .
Keep these records! You may need them again. Do not mail your records with your signature page.

10. Federal Student Aid Grants
Federal Pell Grant (max- $5,550)
Florida Supplemental Educational Opportunity Grant (FSEOG): Available to families who demonstrate high financial need (ranging from $100 to $4,000)
Academic Competitiveness Grant (ACG)-completed a rigorous secondary school program, 1st year (up to $750) or 2nd year student (up to $1,350)
National SMART Grant: undergraduate students enrolled in the 3rd or 4th year and pursuing an eligible program of study
TEACH Grant: recipients must sign an Agreement to Serve (ATS) with the guidelines

11. Federal Work-Study (FWS)
Provides part-time employment to earn money for your education
Available to undergraduate and graduate students
Available to full-time or part-time students
Available on campus and off campus
Students earn at least the federal minimum wage
The amount you earn can’t exceed the FWS award

12. Loans Federal Perkins Loan Demonstrate financial need
Available to undergraduate and graduate students
Part-time or full-time enrollment
Repaid to the school
Interest rate 5%
Limited funds

13. Stafford Loans Available to undergraduate and graduate students
Enrolled at least a half-time
6.8% interest rate
There are two types:
Subsidized: financial need ($3,500-$5,500)
No need to pay the interest that accrues while in school
Unsubsidized : Financial need is not required ($5, $25,000)
Responsible for paying the interest that accrues while in school

14. Plus Loan
Available to parent of dependent undergraduate student (7.9% interest rate)
Enrolled at least half-time
Applicant should not have an adverse credit history
The maximum PLUS Loan amount that a parent can borrow is the student’s cost of attendance minus any other financial aid the student may have received

15.
Need help? Use “Live Help” icon or call FED-AID.
Don’t forget to print confirmation page.

16. FAFSA on the Web Worksheet
The FAFSA on the Web Worksheet allows you to read and complete the questions before entering your information online. The questions are listed in the same order as they appear on the Web site.

17. Application Deadline
It is important to note the type of deadline you are up against. Ask your college/university about their definition of an application deadline, whether it is the receipt date and time or the process date and time of the application.

18. Which FAFSA form do I file?
Attending College
Use FAFSA Form
Use IRS Income Tax From
Beginning Summer 2012
Then Fall
2011 – 2012 FAFSA
2012 – 2013 FAFSA
2010
2011
Beginning Fall 2012

19. After you submit your FAFSA…
Students will receive a Student Aid Report (SAR) indicating Expected Family Contribution (EFC). Review information and make corrections if necessary
If there is an asterisk next to your EFC, this means that your SAR has been selected for verification.

21. Selected for verification?
There are several possibilities for being selected for FAFSA verification such as:
You were selected randomly
The submitted FAFSA application has incomplete data
The data on the FAFSA application appears to contradict itself
The FAFSA application has estimated information on it
If you are selected for FAFSA verification, you need to return the information and requested documentation as soon as possible to the financial aid office at the college/university

22. Forms and Documents that may be requested by the college for the verification process
If you are selected for verification your college may ask for:
Parent tax returns
Student tax returns
Divorced or separated parent information
Other information to verify:
Income
Assets
Family size
Special circumstances

23. Award Letters
Students will be receiving an award letter from each institution they listed on the FAFSA, and to which they have been admitted
Award letters will tell them how much money in grants, loans, and work study they are receiving
If they think they did not get enough aid, they may request a review
Students need to read it carefully, and follow any instructions that pertain to them. If they wish to accept or decline the aid awarded, they must indicate it on the form. Make sure to keep a photocopy for your records

24. What Determines the Amount of Aid You Receive?
The primary factor in determining the amount of aid you receive is your financial need. The following formula shows how financial need is calculated:
Cost of Attendance
– Expected Family Contribution __________________________
= Financial Need

25. Florida International University Cost of attendance

26. Miami-Dade College Cost of attendance

27. Florida State University Cost of attendance

28. Sample of an Award Letter for Student with EFC:000
Fl Academic (BF) $3,030
Pell Grant $5,550
Stafford Loan $3,500
Work Study $2,000
Other Sch $1,000
$15,030
Estimated Cost -FSU $19,354
Short $4,324

29. Sample Award Letter

30. Things to Remember….
Apply for the State Financial Aid after December 1st at
Apply for the CSS Profile (if required) as soon as possible before deadline set by school (registration opens in October) at
Request PIN number as soon as possible for FAFSA at
Apply for FAFSA after January 1st at (Contact schools for exact deadline dates)