1. Financial Aid Process Presenter: Thomas LeBeau – Assistant Director of Financial Aid University of Rochester Presenter: Thomas LeBeau – Assistant Director of Financial Aid University of Rochester

2. Financial Aid 101  Merit Scholarships  Grants Federal State University  Outside Scholarships  Work Study  Federal  College/University  Educational Loans Federal Alternative  Merit Scholarships  Grants Federal State University  Outside Scholarships  Work Study  Federal  College/University  Educational Loans Federal Alternative

3. Applications to File  Free Application for Federal Student Aid (FAFSA)  www.fafsa.ed.gov www.fafsa.ed.gov  School codes (UR = 002894)  College Scholarship Service (CSS) PROFILE  www.collegeboard.com www.collegeboard.com  School codes (UR = 2928)  Institutional Applications  Check with each institution  State Applications (NYS TAP, NY Excellence)  www.hesc.com (UR = 1015) www.hesc.com  Private Scholarship Applications  Free Application for Federal Student Aid (FAFSA)  www.fafsa.ed.gov www.fafsa.ed.gov  School codes (UR = 002894)  College Scholarship Service (CSS) PROFILE  www.collegeboard.com www.collegeboard.com  School codes (UR = 2928)  Institutional Applications  Check with each institution  State Applications (NYS TAP, NY Excellence)  www.hesc.com (UR = 1015) www.hesc.com  Private Scholarship Applications

4. Application Tips – Merit-based  Find out if school has separate application for their merit scholarships  Student should do an interview with an Admissions representative  Make connections & show interest  Ask questions  Impact of merit scholarships on need-based aid  Is the scholarship renewable for all 4 years  Find out if school has separate application for their merit scholarships  Student should do an interview with an Admissions representative  Make connections & show interest  Ask questions  Impact of merit scholarships on need-based aid  Is the scholarship renewable for all 4 years

5. Application Tips – Need-based  Know your deadlines  Keep a folder for each school with copies of what you’ve submitted and the date it was submitted  Find out how schools communicate with you (emails or letters?)  Respond quickly to requests for additional documentation  Get to know your financial aid counselor  Ask questions  Know your deadlines  Keep a folder for each school with copies of what you’ve submitted and the date it was submitted  Find out how schools communicate with you (emails or letters?)  Respond quickly to requests for additional documentation  Get to know your financial aid counselor  Ask questions

6. Application Tips – Outside Scholarships  School Guidance Office  College/University Websites  Online Searches (www.fastweb.com)www.fastweb.com  Community Groups Elks, Rotary, YMCA, Boy/Girl Scouting, Volunteer Organizations  Religious Groups  Heritage Scholarships  Credit Unions/Local Businesses  Employer/Corporate Scholarships or Tuition Benefits Check with employer’s Human Resources/Benefits Office  School Guidance Office  College/University Websites  Online Searches (www.fastweb.com)www.fastweb.com  Community Groups Elks, Rotary, YMCA, Boy/Girl Scouting, Volunteer Organizations  Religious Groups  Heritage Scholarships  Credit Unions/Local Businesses  Employer/Corporate Scholarships or Tuition Benefits Check with employer’s Human Resources/Benefits Office

7. Expected Family Contribution (EFC)  Parent Contribution from income and assets + Student Contribution from income and assets =  EFC  Cost of Attendance (includes tuition and fees, room and board, books and supplies, travel, and miscellaneous personal expenses) – EFC =  Financial Need (met with a combination of federal and institutional aid)  Keep in mind – EFC measures family’s ability, not willingness, to pay  Parent Contribution from income and assets + Student Contribution from income and assets =  EFC  Cost of Attendance (includes tuition and fees, room and board, books and supplies, travel, and miscellaneous personal expenses) – EFC =  Financial Need (met with a combination of federal and institutional aid)  Keep in mind – EFC measures family’s ability, not willingness, to pay

9. How much will you pay?  Net Price Calculator (NPC)  Not an official offer of aid, but can help gauge a family's financial strength, approximate any qualifying need-based financial aid that may be offered, and provide an anticipated net price cost to the student  UR NPC  http://enrollment.rochester.edu/financial/estimator/  UR’s site can also help provide insight on the impact that various merit scholarships will have on need-based financial aid  Net Price Calculator (NPC)  Not an official offer of aid, but can help gauge a family's financial strength, approximate any qualifying need-based financial aid that may be offered, and provide an anticipated net price cost to the student  UR NPC  http://enrollment.rochester.edu/financial/estimator/  UR’s site can also help provide insight on the impact that various merit scholarships will have on need-based financial aid

10. What happens after you apply?  Admission Offer  Student got in!!!! Congrats, but now what?  Award notifications  Read everything carefully! (UR = FAOnline)  Compare offers  Ask questions  Differences between offers  Aid in subsequent years (merit and need-based aid)  Impact of outside scholarships on awarded aid  Next steps (additional application materials, verification)  Admission Offer  Student got in!!!! Congrats, but now what?  Award notifications  Read everything carefully! (UR = FAOnline)  Compare offers  Ask questions  Differences between offers  Aid in subsequent years (merit and need-based aid)  Impact of outside scholarships on awarded aid  Next steps (additional application materials, verification)

11. Remember!  Know your deadlines for each school  Know your application requirements for each school  Look for outside scholarships  Ask as many questions as you need to and ask questions as often as you need to  Know your deadlines for each school  Know your application requirements for each school  Look for outside scholarships  Ask as many questions as you need to and ask questions as often as you need to

12. Questions??