Your guide to navigating and understanding financial aid, information for parents and students.

Size: px
Start display at page:

Download "Your guide to navigating and understanding financial aid, information for parents and students."

Transcription

1 Your guide to navigating and understanding financial aid, information for parents and students. 1

2 Table of Contents Paying for College. 3 Types of Financial Aid.3 How to apply for Financial Aid 5 Federal and State Programs 6 Pell Grant 6 Scholarships General Information.7 Tips for Winning Scholarship Applications 8 Scholarship Applications.9 Scholarship Scams...12 Common Mistakes in the Financial Aid Game..13 Lynden High School Contacts 14 2

3 Paying for College Students are expected to contribute money from savings, summer and school year earnings, or obtain loans to pay college expenses. Parents are expected to contribute from their income and assets. Colleges and universities attempt to meet all or most of the student s needs by putting together a financial aid package made up of grants, scholarships, loans and work-study. The student s need is the cost of education for one academic year, minus the expected contribution from the student and parents. All families are encouraged to fill out the FAFSA (Free Application for Federal Student Aid -see page 5 for more information). Many more students, particularly middle-income students are eligible for federal aid than in past years. All students, regardless of family income, should apply for financial aid. Financial aid is available through both state and federal funding. Grant money does not need to be paid back while loans must be repaid (with interest). Work-study is money earned from work and used to help pay for school. Another source of free money is scholarships. To be eligible for financial aid, students must have a financial need, receive a high school diploma or GED, or pass an independently administered test approved by the U.S. Department of Education. Students also need to be a U.S. citizen or eligible non-citizen, registered with the Selective Service, if required and complete all necessary forms. For financial aid to continue once awarded, students must make satisfactory academic progress. Financial aid eligibility is the difference between the cost of education and the Expected Family Contribution (EFC). A federal formula performs a needs analysis to determine the EFC. The cost of education includes tuition and fees, room and board, books and supplies, transportation and miscellaneous expenses. Types of Financial Aid Grants Grants are need based and do not have to be repaid. Grant aid comes from federal, state governments, and from individual colleges. Public schools tend to give grants to students with very low income. Private schools use grant monies to attract students they want. Loans Most financial aid comes in the form of loans, aid that must be repaid. Most loans that are awarded based on financial need are low-interest loans sponsored by the federal government. The government subsidizes some of these loans so no interest accrues until you begin repayment after you graduate. To qualify for loans or any other financial aid students must maintain a minimum 2.0 GPA each quarter and be enrolled at least half time. 3

4 Do you plan on taking out a loan to help pay for your students college? Make sure you find out if the type of loan is subsidized or unsubsidized. Subsidized loans are federal loans with very low interest. Interest on subsidized loans does not accrue while the student is enrolled full time. Parent Plus Loans are need based and can be granted for up to as much as the cost of a school. Parents will pay an origination fee and are low interest. Parents cannot borrow more than the cost of attendance using a Parent Plus Loan. Bank Loans: Thinking about taking out a bank loan? Private Educational Loans tend to be high interest. Make sure you speak with your financial advisor about your options. Student Loans: Do you plan to have your student help pay for college through loans? Know their limits. Students Stafford loans, maximum per year: Stafford Loan is a low interest loan with a debt cap of $31,000. To continue to qualify for this loan or any other financial aid students must maintain a 2.0 GPA each quarter and be enrolled at least half time. Students begin making monthly payments six months after they graduate or leave school. Does your child fully understand what it means to take out and pay back a loan? Some colleges including Bellevue College require students to go through loan counseling before they qualify. Career Center staff recommends parents talk with their children about the positives and negatives of loans. Work Study -Work-study positions are need based. Student employment and work-study aid helps students pay for education costs such as books, supplies, and personal expenses. Work-study is a federal program which provides students with part-time employment to help meet their financial needs and gives them work experience while serving their campuses and surrounding communities. Scholarships (Need and/or Merit Based) Many colleges have scholarship money they give out on a first come, first serve basis for students who meet specific academic requirements. Check with the colleges you are applying to for specific institutional scholarships. We also recommend students register with and for a customized scholarship search. Students are encouraged to apply for local, state and community scholarship through the LHS Career Center website. Many scholarships are awarded based on merit, ethnic background, community service, leadership, and personal interests regardless of financial need. Students should be searching and applying for scholarships while they are applying to colleges. College Savings Plans Are you saving money for college for your student? Where are you saving it? Is the money in your name or your child s? Where your money resides will determine how much it will be taxed and how it will impact your FAFSA results? Always consult with your professional tax advisor for details. 4

5 How to Apply for Financial Aid Estimate if you are going to qualify for need based financial aid at Parents & students need to register on-line for a FAFSA pin number prior to Jan 1 st. A pin is necessary to sign the FAFSA to obtain a pin number go to Free Application Federal Student Aid (FAFSA) 1. Why should parents fill out the Free Application Federal Student Aid (FAFSA) form? All parents must fill out the FAFSA to qualify for the four types of aid: grants, loans (both parent and student loans), work-study positions, and need-based scholarships. Think you cannot afford a private school? Remember that the amount of financial aid given to families will change depending on the price of the school. Parents are encouraged to fill out the form regardless of their income level and apply as soon after January 1 st as possible to take advantage of state and federal monies given on a first come first serve basis. Some schools require the FAFSA on file prior to awarding some need-based scholarships. Applying for the FAFSA is always free. 2. When can I apply for financial aid? Senior parents fill out a FAFSA after January 1st of their students senior year. The process needs to be completed on an annual basis. The FAFSA online is a number prior to January 1st, so when application processing secure site. Parents and students should register on-line for a FAFSA pin opens on January 1st they can process their application more quickly. A PIN is necessary to electronically sign the FAFSA. 3. Should I fill out the online FAFSA form or a paper version? Consider using the online version. It allows families to update the form from year to year and errors and omissions are caught and corrected prior to submission. The on-line version is processed quickly giving you an Expected Family Contribution (EFC) number. Results are sent directly to the colleges financial aid offices you select to receive them. 4. Financial Aid Forms: Log onto for general information, how to apply, and deadlines for financial aid. Students will receive a Student Aid Report (SAR) after the FAFSA is processed, indicating the Expected Family Contribution (EFC) Information is also sent to the college(s) you select for your FAFSA results. The student s selected College Financial Aid Office(s) will send an award letter to the student indicating the types of aid the student is eligible to receive. Students should check with the college(s) that they expect to attend, as additional applications/forms may be required for financial aid. NOTE: Special circumstances (such as changes in income and other factors affecting eligibility) may be considered. Should special circumstances arise, the student should submit a letter of explanation to the Financial Aid Office at the school of their choice. 5

6 Federal and State Programs Pell Grant Pell Grants, Perkins Loans, Work-Study, and SEOG will be available, based on demonstrated financial need and availability of funds. Perkins Loan Repayments begin nine months after student status drops to less than half time, with up to 10 years to repay. Work-Study Program Makes available jobs on and off campus with hourly wages paid directly to the student to help pay for education expenses. Supplemental Educational Opportunity Grant Program (SEOG) This program is for students of exceptional financial need, who without the grant would be unable to continue their education. The SEOG is awarded through the financial aid office of the school you plan to attend. The SEOG is not an entitlement program; that is, there are no guarantees attached to it. Each school receives a set amount of money to use for SEOG s. When the money is gone, there are no more SEOG s for that year. Stafford Loan Formerly called the Guaranteed Student Loan program. Repayment begins six months after student status drops to less than half time and has a 10-year repay timeline. Unsubsidized Stafford Loan A program available to undergraduates who do not demonstrate financial need. Students still file the FAFSA for the regular Stafford first, and if not eligible, will automatically be considered for the unsubsidized program. Same interest and repayment terms as Federal Stafford, except interest is not subsidized and will accrue during in-school and six-month grace periods. Students have the option of either paying the interest as it accrues on the loan or capitalizing the interest and paying it off along with the principle following graduation. Parent Loan for Undergraduate Students (PLUS) Parents can borrow the entire cost of their students education, less financial aid. Repayment of PLUS loans must begin within 60 days of disbursement with up to 10 years to repay. Other Programs The Federal Government also makes low interest loans to students through the following programs: 1) Nursing Students Loan 2) HEAL Health Education Assistance Program 3) LEAP Law Enforcement Assistance Program The State of Washington offers assistance to the needy or disadvantaged students by programs such as: 1) Tuition Waiver Program 2) State Need Grant Program 3) State Work-Study Program which allows students to work in the private sector. 6

7 Important! Selective Service Notice To receive any form of federally funded financial aid, such as Pell Grants, Supplemental Grants, Work- Study, and Loans, male students must have proof that they have registered with the Selective Service. Young men who turn 18 must register with the Selective Service within 30 days of their birthday. Register on-line at: Scholarships General Information Each year private organizations, corporations, fraternal groups, clubs and labor unions provide funds for students to complete their education. Most scholarships are based upon both achievement and need, while other scholarships are based on scholastic achievement and school/community involvement. Students are encouraged to apply for all scholarships for which they are eligible. National scholarship information is available through the listed organizations websites. This document is provided to help with student s scholarship search. This booklet does not contain scholarship opportunities; those are available on our school website under the Career and College Center tab and registering with State (thewashboard.org) and National (fastweb.com) search programs. Students are responsible for verifying scholarship details and insuring their application packets are complete and deadlines are met. 7

8 Tips for Winning Scholarship Applications Before you submit your scholarship application, check out these tips, provided by scholarship sponsors nationwide. 1 Apply only if you are eligible. Read all the scholarship requirements and directions carefully to make sure you are eligible before you send in your application. 2 Complete the application in full. If a question doesn't apply, note that on the application. Don't just leave a blank. Supply all additional supporting material, such as transcripts, letters of recommendation and essays. 3 Follow directions. Provide everything that is required, but do not supply things that are not requested you could be disqualified. 4 Neatness counts. Always type your application, or if you must print, do so neatly and legibly. Make a couple of photocopies of all the forms before you fill them out. Use the copies as working drafts as you develop your application packet. 5 Write an essay that makes a strong impression. The key to writing a strong essay is to be personal and specific. Include concrete details to make your experience come alive: the who, what, where, and when of your topic. The simplest experience can be monumental if you present honestly how you were affected. 6 Watch all deadlines. To help keep yourself on track, impose your own deadline that is at least two weeks prior to the official deadline. Use the buffer time to make sure everything is ready on time. Do not rely on extensions very few scholarship providers allow them at all. 7 Make sure your application gets where it needs to go. Put your name (and Social Security number, if applicable) on all pages of the application. Pieces of your application may get lost unless they are clearly identified. 8 Keep a back-up file in case anything goes wrong. Before sending the application, make a copy of the entire packet. If your application goes astray, you will be able to reproduce it quickly. 9 Give it a final "once-over. Proofread the entire application carefully. Be on the lookout for misspelled words or grammatical errors. Ask a friend, teacher or parent to proofread it as well. 10 Ask for help if you need it. If you have problems with the application, do not hesitate to call the funding organization. 8

9 Scholarship Applications 1. Who should apply for scholarships? All students! Any students interested in attending a technical college, community college, or 4-year school should consider applying for free money to help pay for school. 2. When should I apply for a scholarship? Most scholarships are offered during senior year, but occasionally students have the opportunity to apply during junior year as well. You should start to become familiar with the process beginning in December of your junior year. 3. Where can I find out about local scholarships? Go to the Career Center website and click on Scholarships. Local scholarships with their requirements and due dates are updated on a regular basis. 4. Where can I find out about national scholarships? Go to for a list of national scholarships. You will be asked a series of qualifying questions and then have access to information on how to apply for scholarships that you meet the requirements for. Note: You may want to set up a separate account just for scholarship notifications from FastWeb. 5. What is the Western Undergraduate Exchange? The Western Undergraduate Exchange (WUE) is a scholarship that may save you money at a public out of state college or university if you qualify. Go to to see the list of participating institutions. 6. Who qualifies for a scholarship? Many scholarships are based on financial need and/or academic merit, but not all. Some scholarships are based on community service participation or the ability to have overcome obstacles. 7. Who is my competition? When considering whether or not you want to apply for particular scholarship, take into account whom you might be competing with. Are you only going to be competing with students at Lynden High School? If so, financial need might be relative to the families that live in the Lynden area. If only five or six students apply for the scholarship, your financial need might be highest amongst this group. But if you are applying for a nationwide scholarship, your competition will be much greater. The obstacles that you have overcome, GPA, and community service participation are also relative to the group that applies, so keep that in mind as well. 8. What other items are required besides the application? Many scholarships require you to submit a resume, letters of recommendation, and/or an essay. Applying for scholarships should never require you to pay a fee! 9. What points should I remember when filling out scholarships? Presentation goes a LONG way! Make sure your application is representative of your best work. As with college applications follow directions carefully. Spelling, word usage, and grammar mistakes are a sure way to get people to put your paperwork at the bottom of the pile! Put your application in a clean manila envelope. Do not fold your application. Address the envelope with your name; return address and the name of the scholarship, plus the address of the review committee. 9

10 Keep your resume to one page. Remember that scholarship review committees have many scholarship applications to read and a two or three-page document can in some reviewer s eyes actually count against you. Give a copy of your high school resume to the people that you plan to have write your recommendation letters. This helps them write a letter that covers all the things you have accomplished. Be yourself in your essay! Do not write what you think others want to read. Don t be pretentious, or exaggerate to impress. Instead, write about things that make you unique. Show rather than tell. By giving examples and illustrating your topic, you help bring it to life. And last but not least have friends and family proofread your application, resume, and essay. Often times another set of eyes can pick up on mechanical errors that you have overlooked. Don t wait until the deadline to turn in your applications. Earlier is better! It is always appropriate to write a thank you note to the organization awarding you a scholarship! 10

11 Additional information about Financial Aid AmeriCorps City Year FAFSA FastWeb Scholarship Search Federal Direct Loans Federal PIN FinAid JobCorps Northwest Education Loan Association Project Scholarship Scam Resources by State U.S. Department of Education College Cost Calculators College Cost Projector Loan Calculators Savings Calculators Estimated FAFSA results 11

12 Scholarship Scams Searching for a Scholarship? Buyer Beware! This section is included to alert families to a concern that is increasingly widespread: fraudulent scholarship search services or in other words, SCHOLARSHIP SCAMS. Hundreds of scholarship services are on the market, but many are scams. The Federal Trade Commission (FTC) recently launched Project Scholarship Scam to alert consumers about fraudulent search services The FTC warns students to beware if the scholarship service: Guarantee that a student has won a scholarship Pledges that this scholarship information is not available anywhere else. Requests a credit card or bank account number so that they can hold the scholarship for the student. Requests payment before they can give the scholarship Claims a national foundation has selected you to receive a scholarship or you are a finalist in a contest you never entered. How else can you be aware of scams? Scholarship Scams usually have a particular set of characteristics. Watch out for these warning signs: Application fees Other fees Guaranteed winnings Everybody is eligible Unsolicited opportunities Typing & spelling errors No telephone number Mail drop for a return address Operating out of a residence Masquerading as a federal agency Time pressure Unusual requests for personal information Notification by phone High success rates Excessive hype Disguised advertising A newly formed company 12

13 Financial Aid Seminars & Consultants Consultants: When choosing to utilize the services of a consultant, consider their qualifications carefully. Find someone who has worked as a financial aid administrator, CPA or CFP. Seminars: Some seminars will state that their presentations is free and then use high pressure tactics to get you signed up for their service, while only answering questions after you agree to pay a fee. Keep in mind that no one can find loopholes to help you save money. Don t trust anyone who encourages you to do something unethical. Common Mistakes in the Financial Aid Game Not applying for financial aid because they think they won t qualify. Assuming expensive private colleges are out of reach. Some may offer significant financial aid. Waiting too long to file the Free Application for Federal Student Aid form (FAFSA) with the U.S. Department of Education. This paperwork determines how much federal aid families receive. FAFSA applications begin January 1 st of the college entering year. Many selective colleges make financial aid decisions by February 15 th, using information from the FAFSA. The application process calls for figures from the current year s tax return. Tax information can be estimated and corrected later. Assuming there are thousands of dollars available through scholarships if students will only search for them. Significant national scholarships often go to superstars. Solid students may be better off pursuing local scholarships. By applying for multiple local scholarships, students at LHS have been very successful in accumulating thousands of dollars. The Career Center has information about local, community and Washington state scholarships. Visit the Career Center website and click on College Scholarships. Assuming financial aid from a college will continue past the first year. Families should confirm any financial aid package with the college. Determine what is required for the scholarship to renew. Failing to understand that financing college often means borrowing money and working. Families need to have open financial discussions with their student prior to selecting and applying to colleges. Paying companies to search for financial aid or scholarships. Paid services are often scams. Assuming students will get a good financial aid offer from an out-of-state public university. Schools often reserve their need-based aid for residents 13

14 Local, State and Community Scholarship The Career Center receives and posts local and state organizations applications to our website each year. Students looking to apply for national and state scholarships should be registered through and thewashboard.org Many organizations ask schools to nominate one student to apply to their organization for a scholarship. LHS is a large public high school -students interested in being considered for one of the scholarships listed below need to bring a current high school resume to the Career Center no later than October 15 th of your senior year. All resumes will be scored. Based on the scholarship criteria LHS will select the best-qualified student to nominate. Contacts: Lynden High School 1201 Bradley Rd Lynden, WA Phone Lynden High School Administration Principal: Todd Apple Assistant Principal: Lisa McKeen Contacts in the Career & Technical Education Office: Director: Kent Victor (telephone extension: 5260) Secretary: Shelly Williamson (telephone extension: 5205) Counseling Office Registrar: Lisa Wilde (telephone ext. 5218) Student s last name ending A H: Chris Elsner (telephone ext. 5204) Student s last name ending I O: Erin Shaffer (telephone ext. 5229) Student s last name ending P Z: Christina Lynch (telephone ext. 5228) School Website 14

Gettin Paid. To Attend College

Gettin Paid. To Attend College Gettin Paid To Attend College The Basics of Gettin Paid Student & family may be responsible for paying portions of college costs. Financial aid provides resources to help families who are unable to cover

More information

How do you receive financial aid?

How do you receive financial aid? What types of financial aid are available and in what order are they awarded? 1. Scholarships and Fee Waivers 2. Grants 3. Work-Study 4. Student Loans: Subsidized, Unsubsidized, Perkins, Parent PLUS How

More information

USC CENTER FOR HIGHER EDUCATION POLICY ANALYSIS COSTS:

USC CENTER FOR HIGHER EDUCATION POLICY ANALYSIS COSTS: USC CENTER FOR HIGHER EDUCATION POLICY ANALYSIS COLLEGE COSTS: A CALIFORNIA STUDENT GUIDE TO PAYING FOR COLLEGE Are you concerned about paying for college? Do you think that attending your college of choice

More information

Introduction to Financial Aid: An Overview for High School Students and Parents. presented by: Hayato Suzuki Director of Financial Aid

Introduction to Financial Aid: An Overview for High School Students and Parents. presented by: Hayato Suzuki Director of Financial Aid Introduction to Financial Aid: An Overview for High School Students and Parents presented by: Hayato Suzuki Director of Financial Aid Tonight s Topics Types and sources of aid How financial need is determined

More information

Exploring Scholarship Opportunities. A Presentation For SUNY New Paltz Students

Exploring Scholarship Opportunities. A Presentation For SUNY New Paltz Students Exploring Scholarship Opportunities A Presentation For SUNY New Paltz Students Goals of the Presentation What is a Scholarship? Benefits of Scholarship Awards Types of Scholarships Exploring Scholarship

More information

Presented by: Hayato Suzuki Director of Financial Aid

Presented by: Hayato Suzuki Director of Financial Aid Presented by: Hayato Suzuki Director of Financial Aid Types and sources of aid When and how to apply Completing the FAFSA How to recognize and avoid scams Other college financing options Determine financial

More information

The Financial Aid Application Process and Frequently Asked Questions

The Financial Aid Application Process and Frequently Asked Questions The Financial Aid Application Process and Frequently Asked Questions Step 1 - To apply for financial aid, a student must complete the Free Application for Federal Student Aid (FAFSA) each year. Students

More information

Applying for Financial Aid. Presented by: Clint Young Office of Student Financial Assistance The George Washington University

Applying for Financial Aid. Presented by: Clint Young Office of Student Financial Assistance The George Washington University Applying for Financial Aid Presented by: Clint Young Office of Student Financial Assistance The George Washington University An investment in knowledge always pays the best interest. Benjamin Franklin

More information

Filling Out the FAFSA

Filling Out the FAFSA Filling Out the FAFSA Free Application for Federal Student Aid The Path to Financial Aid Starts Here FAFSA What s Inside? Federal student aid is provided by the U.S. government to help you pay for college.

More information

Types of Financial Aid

Types of Financial Aid Types of Financial Aid The Financial Aid Office at SUNY Maritime College assists students in financing their education by offering financial assistance in the form of scholarships, grants, loans and work-study

More information

Financing a University of Delaware Education. Academic Year 2014-2015

Financing a University of Delaware Education. Academic Year 2014-2015 Financing a University of Delaware Education Academic Year 2014-2015 Notification Process Merit Scholarships In Progress Students eligible for merit scholarship will generally hear a few weeks after receiving

More information

WINNING AT THE COLLEGE FINANCIAL AID GAME

WINNING AT THE COLLEGE FINANCIAL AID GAME Helping Yourself. Helping Your Parents. Helping Your Children. By the numbers WINNING AT THE COLLEGE FINANCIAL AID GAME With college expenses having risen significantly, financial aid can be a critical

More information

2015-2016. ABCs of Financial Aid

2015-2016. ABCs of Financial Aid 2015-2016 ABCs of Financial Aid 1 What s Inside General Eligibility Requirements for Federal Financial Aid...2 Dependency Status...2 Applying for Financial Aid and the Need Analysis Process...3 Need Analysis

More information

Accepted Student Reception Financial Aid Presentation. March 29, 2015

Accepted Student Reception Financial Aid Presentation. March 29, 2015 Accepted Student Reception Financial Aid Presentation March 29, 2015 Understanding Your Financial Aid Award Letter Screen shot of award letter here Screen shot of award letter here Estimated costs and

More information

COMPONENTS OF AID PACKAGES: WHAT TO EXPECT

COMPONENTS OF AID PACKAGES: WHAT TO EXPECT 23359_ch01.qxd 7/15/04 9:00 AM Page 176 176 Paying for College based grants or scholarships if the institution provides them, may decrease loans in the aid package and increase grants even at an institution

More information

Winning at the college financial aid game

Winning at the college financial aid game Winning at the college financial aid game By the numbers Average tuition and fees per year for four-year colleges in 2006-07: 1 Private institutions: $30,367, up 4.6% from the previous year Public colleges:

More information

Find yourself here FINANCIAL AID Y O U R G U I D E T O

Find yourself here FINANCIAL AID Y O U R G U I D E T O Find yourself here Application Eligibility Helpful Hints Rights & Responsibilities Verification Academic Progress Dependent/Independent Status Y O U R G U I D E T O FINANCIAL AID Bright Futures Federal

More information

Financial Aid Night. 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu

Financial Aid Night. 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu Financial Aid Night 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu What is Financial Aid? Scholarships Grants Employment opportunities Loans How To Apply

More information

FINANCIAL AID 101. Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University

FINANCIAL AID 101. Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University FINANCIAL AID 101 Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University Role of the Financial Aid Office Evaluate a family s ability to pay for

More information

Financial Aid 101. UNDERSTANDING THE BASICS Sarah Everitt Associate Director, Financial Aid Gonzaga University

Financial Aid 101. UNDERSTANDING THE BASICS Sarah Everitt Associate Director, Financial Aid Gonzaga University Financial Aid 101 UNDERSTANDING THE BASICS Sarah Everitt Associate Director, Financial Aid Gonzaga University Goal of Financial Aid Primary goal: Assist students in paying for college and is achieved by:

More information

HSMSE FINANCIAL AID PRESENTATION

HSMSE FINANCIAL AID PRESENTATION Crystal Bonds, Principal HSMSE FINANCIAL AID PRESENTATION Presented by: Wade A. Klein HSMSE Director of College Services & School Counselor Overview Overview of the Financial Aid Process Steps to Submitting

More information

Financing a University of Delaware Education for non Delawareans. Academic Year 2015-2016

Financing a University of Delaware Education for non Delawareans. Academic Year 2015-2016 Financing a University of Delaware Education for non Delawareans Academic Year 2015-2016 Topics to be Covered Overview of financial aid available (scholarships, grants, and loans) at the University and

More information

Financial Aid 101 Understanding the Basics

Financial Aid 101 Understanding the Basics FAFSA (Free Application for Federal Student Aid) Financial Aid 101 UNDERSTANDING THE BASICS Electronic Application developed by US Dept. Education o Application can be found at www.fafsa.ed.gov Evaluates

More information

FINANCIAL AID VOCABULARY

FINANCIAL AID VOCABULARY Award Letter Notification of the terms and requirements of the financial aid package offered by a college. College Scholarship Service (CSS) Profile A financial aid application, in addition to the FAFSA,

More information

Legal Education Institute Financial Aid Sourcebook

Legal Education Institute Financial Aid Sourcebook Legal Education Institute Financial Aid Sourcebook A Publication of Widener University School of Law Office of Financial Aid 2015/2016 Widener University Legal Education Institute Financial Aid Office

More information

The Basics on Grants and Scholarships (Information by The College Board)

The Basics on Grants and Scholarships (Information by The College Board) November The Basics on Grants and Scholarships (Information by The College Board) Financial aid is money lent or given to you to help you pay for college. Grants and scholarships are kinds of financial

More information

Financial Aid and Scholarships: Planning for your Child s Educational Expenses

Financial Aid and Scholarships: Planning for your Child s Educational Expenses Financial Aid and Scholarships: Planning for your Child s Educational Expenses Renee G. Dann, Assistant Director/Coordinator Financial Aid and Scholarships January 15, 2015 Goals for Tonight What are basic

More information

Paying for School. 6 steps for success. AllNursingSchools.com

Paying for School. 6 steps for success. AllNursingSchools.com 3 This Getting Started Guide is your source for up-to-date information about choosing a nursing school or program. Use these tips to get organized and motivated and get going on making your dreams a reality.

More information

2011 Open House Financial Aid. Catherine Graham Financial Aid Director

2011 Open House Financial Aid. Catherine Graham Financial Aid Director 2011 Open House Financial Aid Catherine Graham Financial Aid Director Overview LMU at a glance Types of available aid The aid application process Connecting with the Financial Aid Office Additional resources

More information

Financing a College Education

Financing a College Education Financing a College Education After this program, you should know The types of aid available to students How and when to apply for financial aid How financial aid eligibility is calculated Sources of Financial

More information

Your Financial Aid Package and Guide

Your Financial Aid Package and Guide Your Financial Aid Package and Guide 3 SAINT MICHAEL S COLLEGE smcvt.edu What You Need to Know The Office of Student Financial Services at Saint Michael s College has created this guide to explain the

More information

What You Need to Know About Financial Aid. Office of Financial Aid

What You Need to Know About Financial Aid. Office of Financial Aid What You Need to Know About Financial Aid Office of Financial Aid 1 Tonight s Topics What is Financial Aid Cost of Attendance (COA) Expected Family Contribution (EFC) Financial Need Types & Sources of

More information

Financing a University of Delaware Education. Academic Year 2012-2013

Financing a University of Delaware Education. Academic Year 2012-2013 Financing a University of Delaware Education Academic Year 2012-2013 Estimated Cost-of-Attendance Budget* Below is the estimated 2012-2013 educational budget. Official rates are announced in early July

More information

West shore community college. Financial

West shore community college. Financial Financial Aid 38 - Financial Aid The West Shore Community College Financial Aid Office encourages all students to apply for financial aid and will assist all students with the process of applying for financial

More information

Office of Student Financial Aid Montgomery College

Office of Student Financial Aid Montgomery College Office of Student Financial Aid Montgomery College What is Financial Aid? Cost of Attendance Expected Family Contribution Determining Financial Need Types and Sources of Financial Aid Financial Aid Process

More information

Learning Today, Leading Tomorrow FINANCIAL AID

Learning Today, Leading Tomorrow FINANCIAL AID Learning Today, Leading Tomorrow STUDENT FINANCIAL AID SUCCESSFULLY NAVIGATING THE STUDENT FINANCIAL AID PROCESS The Northern Illinois University Student Financial Aid Office (SFAO) is pleased to assist

More information

Financial Aid Information

Financial Aid Information Financial Aid Information WHAT IS FINANCIAL AID? Financial aid is a combination of grants, federal loans and work-study opportunities awarded based on financial need. Scholarships on the other hand are

More information

Racer Aid. Murray State University Financial Aid Guide for Families

Racer Aid. Murray State University Financial Aid Guide for Families Racer Aid Murray State University Financial Aid Guide for Families Work-study provides students the opportunity to work while going to school. Numerous offices on campus offer employment opportunities.

More information

Welcome to [Site name]

Welcome to [Site name] Welcome to [Site name] Tonight s program 1 2 3 4 2 At the end of the evening We ll collect evaluations for tonight s event Even better, we ll hold a scholarship drawing We ll select three $500 scholarship

More information

College Preparation Handbook Scholarships & Financial Aid

College Preparation Handbook Scholarships & Financial Aid College Preparation Handbook Scholarships & Financial Aid 1 Table of Contents Section Page # Quick Reference 3 Introduction 4 Gateway 6 ASVAB 7 PLAN 8 PSAT / NMSQT 9 SAT 10 ACT 12 AP 13 IB 17 Testing Schedule

More information

Oakland University Financial Services Funding Education Beyond High School Supplemental Worksheet

Oakland University Financial Services Funding Education Beyond High School Supplemental Worksheet Elements of Financial Aid Oakland University Financial Services Funding Education Beyond High School Supplemental Worksheet A) Four types of financial aid available to students: B) Three different categories:

More information

Tips to Financial Aid

Tips to Financial Aid Tips to Financial Aid Definitions FAFSA The Free Application for Federal Student Aid is the official application for all types of federal aid, and some state and campus-based aid as well SAR The Student

More information

Qualifying for the financial aid you deserve MADE $IMPLE

Qualifying for the financial aid you deserve MADE $IMPLE Qualifying for the financial aid you deserve MADE $IMPLE table of contents 2...Paying for college...realizing your dream. 3... Am I eligible? 4...What s available for me? 5...How do I find the financial

More information

Learning the Language of Financial Aid

Learning the Language of Financial Aid Learning the Language of Financial Aid An Introduction to Financial Aid Terminology and Basics BHS Guidance Office How do I pay for college? Family support Savings Work Grants Scholarships Loans Financial

More information

PAYING FOR COLLEGE. Plain talk about Financial Aid

PAYING FOR COLLEGE. Plain talk about Financial Aid PAYING FOR COLLEGE Plain talk about Financial Aid CONTENTS The PreStep Facing the Facts Step 1: Understanding Financial Aid Basics 1 The Basics: Understanding Scholarships, Grants and Loans 2 Step 2: Applying

More information

Finding Money for College

Finding Money for College Finding Money for College We will talk about: Federal student aid State student aid Student aid from colleges Scholarships from other sources 2 We will answer: What is financial aid? Who can get it? How

More information

$uccessful Start and the Office of Student Services Present: INTRODUCTION TO FINANCIAL AID

$uccessful Start and the Office of Student Services Present: INTRODUCTION TO FINANCIAL AID $uccessful Start and the Office of Student Services Present: INTRODUCTION TO FINANCIAL AID AGENDA Financial Aid Timeline Applying for Financial Aid Award Types of Financial Aid Understanding your Financial

More information

Student loan terms to know

Student loan terms to know Definition of words related to federal student loans and the Nelnet payment process. Accrue The act of interest accumulating on the borrower s principle balance. Aggregate Loan Limit The maximum total

More information

FINANCIAL AID POLICY

FINANCIAL AID POLICY FINANCIAL AID POLICY Debutantes School of Cosmetology and Nail Technology, LLC (Federal school code 042299) is an approved institution in disbursement of Title IV funds for our cosmetology program. A financial

More information

LOAN REFLECTION. Directions: Complete the handout below individually and share your answers with your small group.

LOAN REFLECTION. Directions: Complete the handout below individually and share your answers with your small group. LOAN REFLECTION Directions: Complete the handout below individually and share your answers with your small group. Have you ever heard the word loan before? In what context? What comes to mind when you

More information

Financial Aid for College

Financial Aid for College Nicholson Financial Services, Inc. David S. Nicholson Financial Advisor 89 Access Road Ste. C Norwood, MA 02062 781-255-1101 866-668-1101 david@nicholsonfs.com www.nicholsonfs.com Financial Aid for College

More information

Are You Ready for College?

Are You Ready for College? Are You Ready for College? Financial AID, Scholarships, School Loans, Work Study, and Grants for College Tuition Patricia Jackson Wadquidia Retta College Tuition College is an expensive expense when your

More information

HELPFUL FINANCIAL AID HINTS...

HELPFUL FINANCIAL AID HINTS... TABLE OF CONTENTS HELPFUL FINANCIAL AID HINTS.........................................................................................1 PAYING FOR COLLEGE.................................................................................................2

More information

Financial Aid Information Night

Financial Aid Information Night Financial Aid Information Night Welcome to Tonight's Agenda The role of Financial Aid Types of Financial Aid Financial Aid Application Process Lifetime Grant and Loan Limits Financial Aid Need Financial

More information

FINANCIAL AID for Junior Parents: The Basics. April 22, 2015

FINANCIAL AID for Junior Parents: The Basics. April 22, 2015 FINANCIAL AID for Junior Parents: The Basics April 22, 2015 What is Financial Aid? Cost of Attendance (COA) - Expected Family Contribution (EFC) Student s Financial Need (eligibility) Financial Aid --

More information

www.shawnee.edu Making College a Reality through Financial Aid

www.shawnee.edu Making College a Reality through Financial Aid www.shawnee.edu Making College a Reality through Financial Aid Earn $1 million more! It s a fact. People who attend college and receive a bachelor s degree earn approximately $1 million more in their lifetime

More information

Paying for School Checklist

Paying for School Checklist Paying for School Checklist There is a lot to do to get into college. Planning ahead will save you time and energy in the long run! Use this checklist to stay on track for college. Better yet, use it to

More information

2016-2017 Student Guide. Student Financial Assistance

2016-2017 Student Guide. Student Financial Assistance 2016-2017 Student Guide Student Financial Assistance Table of Contents Code of Conduct... 3 Financial Aid Office... 4 Contact Information Financial Aid Officer... 4 How We Determine your Financial Aid...

More information

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015

FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 FINANCIAL AID CONSUMER INFORMATION GUIDE 2015-2016 Award Year Revised 09/01/2015 You are responsible for reading this award guide. This information is essential to read and understand the terms and conditions

More information

affording college Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.

affording college Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit. affording college Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to a brighter financial

More information

Paying for College. Financing Your College Education

Paying for College. Financing Your College Education Objectives In this lesson you will: learn how you can pay for college learn about the different types of financial aid learn about scholarships and how to apply for them learn what steps you can take to

More information

Financial Aid Guide. School Code: 003732

Financial Aid Guide. School Code: 003732 Radford University Financial Aid Guide School Code: 003732 Table of Contents The Purpose and Benefit of a Booklet... 2 Getting Started... 2 What is Financial Aid... 2 Cost of Attendance... 3 Financial

More information

Financial Aid Guide. Student Financial Services. Adelphi University Office of. One South Avenue P.O. Box 701 Garden City, NY 11530-0701

Financial Aid Guide. Student Financial Services. Adelphi University Office of. One South Avenue P.O. Box 701 Garden City, NY 11530-0701 Financial Aid Guide Adelphi University Office of Student Financial Services One South Avenue P.O. Box 701 Garden City, NY 11530-0701 Phone: 516.877.3080 Fax: 516.877.3380 For the ninth straight year, Adelphi

More information

A Guide to Financial Aid 2015-16. The bottom line and how to pay for it.

A Guide to Financial Aid 2015-16. The bottom line and how to pay for it. A Guide to Financial Aid 2015-16 The bottom line and how to pay for it. The Financial Aid Basics We re glad you are interested in attending Anderson University. Perhaps you have already received your acceptance

More information

Financial Aid. Fees. Refund Policy

Financial Aid. Fees. Refund Policy Refund Policy Students who officially drop a class may be eligible to receive refunds of tuition. Refunds are based on the following scale: Day of Drop Refund Through the last day of registration 100%

More information

Financial Aid Consumer Information

Financial Aid Consumer Information Financial Aid Consumer Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist

More information

Financial Aid Consumer Information

Financial Aid Consumer Information Financial Aid Consumer Information In accordance with federal regulations set forth by the Higher Education Act of 1965, as amended, NCE provides this Student Disclosures Schedule as means to disseminate

More information

FINANCIAL AID APPLICATION PROCESS. Determine your estimated eligibility. Complete application worksheet. Transmit application on-line

FINANCIAL AID APPLICATION PROCESS. Determine your estimated eligibility. Complete application worksheet. Transmit application on-line FINANCIAL AID QUALIFICATIONS What are the qualifications to receive Financial Aid? In order to qualify, you must: Be accepted for admissions; Be in good academic standing; For most programs, demonstrate

More information

YOUR FUTURE Preparing for education beyond high school

YOUR FUTURE Preparing for education beyond high school College Outreach YOUR FUTURE Preparing for education beyond high school Anyone considering college has a lot to think about. Let this guide be a resource as you gather the facts on getting the degree or

More information

Paying For College. Who, What, When, Where and How?

Paying For College. Who, What, When, Where and How? Paying For College Who, What, When, Where and How? Four Ways to Pay for College Grants Money that is given to you Scholarships Money that is given to you because of academic achievement, talent, skill

More information

Student Financial Services: Understanding Financial Aid

Student Financial Services: Understanding Financial Aid Student Financial Services: Understanding Financial Aid Employee Financial Aid Night 2011 Overview What is Financial Aid? Free Application for Federal Student Aid (FAFSA) CSS PROFILE How do colleges give

More information

TITLE Financial aid overview for parents TITLE

TITLE Financial aid overview for parents TITLE Financial aid overview for parents Understand Your Options Finding the money to pay for college is a concern of many parents because they think they can t afford it. It s important to know that families

More information

The Financial Aid Process. Paying for College

The Financial Aid Process. Paying for College The Financial Aid Process Paying for College Financing College What is financial aid? Types: Loans, scholarships, etc. FAFSA Who can help? What is financial aid? Financial aid makes college/training affordable

More information

UNDERSTANDING YOUR FINANCIAL AID

UNDERSTANDING YOUR FINANCIAL AID UNDERSTANDING YOUR FINANCIAL AID Understanding Your Award Letter Financial Aid consists of grants, work-study and loans to help meet your educational expenses. You may accept or reject all or part of your

More information

Financial Aid 101. Seminole State College

Financial Aid 101. Seminole State College Financial Aid 101 Seminole State College How Can I Apply for Financial Aid? Complete a FAFSA (Free Application for Federal Student Aid) each school year in summer before fall starts (www.fafsa.ed.gov or

More information

Planning and Paying for College. Grants, Scholarships, Loans and Other Money for College

Planning and Paying for College. Grants, Scholarships, Loans and Other Money for College Planning and Paying for College Grants, Scholarships, Loans and Other Money for College 10 Important Things to Qualify 1. Submit the FAFSA 2. Submit any other applications 3. Demonstrate financial need

More information

The Road To Financial Aid Success Presented By:

The Road To Financial Aid Success Presented By: The Road To Financial Aid Success Presented By: The Road To Financial Aid Success Your PLAN: Prepare Look for Options Apply Never give up your dreams What is the first step? How do I get financial aid?

More information

Financial Aid Overview

Financial Aid Overview Financial Aid Overview ww.fafsa.ed.gov Presented by: Dorothy Nacita Santa Ana College Financial Aid Office Financial Aid Myths Students with highest GPAs get all the aid Not in full time, won t qualify

More information

ADDITIONAL FINANCING OPTIONS. DSU students received over $17.7 million in financial aid in the 2013 award year.

ADDITIONAL FINANCING OPTIONS. DSU students received over $17.7 million in financial aid in the 2013 award year. offers distinctive opportunities in higher education. Our nationally recognized, technology-based curriculum keeps the University on the leading edge of quality programs designed for today s challenges

More information

FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE. LSAC.org

FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE. LSAC.org LSAC.org FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE INTRODUCTION Legal education is an investment in your future and is a serious financial investment as well. As with any investment, it is important

More information

Financial Aid at Sarah Lawrence

Financial Aid at Sarah Lawrence Financial Aid at Sarah Lawrence From the Director of Financial Aid Dear Students and Parents: Perhaps the best advice any college can give to a prospective student is: Make your educational choice first,

More information

A guide to college financial aid

A guide to college financial aid MFS Investment Management A guide to college financial aid When savings aren t enough Making college affordable For many Americans, paying for a college education trails only a home purchase as the largest

More information

College Planning Guide

College Planning Guide College Planning Guide 2010-2011 C O P T I C E D U C A T I O N A L F O U N D A T I O N 2 0 1 0-2 0 1 1 Page 1 SECTION IV Financing Your College Education College can be expensive, so the earlier you begin

More information

Financial Aid 101. What You Need to Know About the College Financial Aid Process. Presented by Jack Zegeer Northern Virginia Community College

Financial Aid 101. What You Need to Know About the College Financial Aid Process. Presented by Jack Zegeer Northern Virginia Community College Financial Aid 101 What You Need to Know About the College Financial Aid Process Presented by Jack Zegeer Northern Virginia Community College Topics Why is college important? What is Financial Aid? What

More information

Sponsored by: Greenville County School Counseling and the Sirrine Scholarship Program. With cooperation from:

Sponsored by: Greenville County School Counseling and the Sirrine Scholarship Program. With cooperation from: Sponsored by: Greenville County School Counseling and the Sirrine Scholarship Program With cooperation from: Anderson University Clemson University Furman University Greenville Technical College 1 Sirrine

More information

NEW JERSEY CITY UNIVERSITY. Guide to Financial Aid

NEW JERSEY CITY UNIVERSITY. Guide to Financial Aid NEW JERSEY CITY UNIVERSITY Guide to Financial Aid Fastfact: NJCU graduates include a fashion magazine art director, a NJ Assembly person, a police captain, a news anchor and a corporate vice president!

More information

Federal Supplemental Education Opportunity Grant Work Study Federal Work Study (may not be available at all school locations) Loans

Federal Supplemental Education Opportunity Grant Work Study Federal Work Study (may not be available at all school locations) Loans Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students

More information

Financial Aid Information

Financial Aid Information Financial Aid Information Schools recognize that in many instances individuals and their families are not able to meet the entire cost of education. Therefore, the Financial Aid Office will assist students

More information

A Guide to Financial Aid 2016-17. The bottom line and how to pay for it.

A Guide to Financial Aid 2016-17. The bottom line and how to pay for it. A Guide to Financial Aid 2016-17 The bottom line and how to pay for it. The Financial Aid Basics We re glad you are interested in attending Anderson University. Perhaps you have already received your acceptance

More information

A Guide to Sensible Borrowing & Loan Request Form

A Guide to Sensible Borrowing & Loan Request Form stafford loans STAFFORD LOANS 2010-2011 A Guide to Sensible Borrowing & Loan Request Form Pursue all other alternatives first Get the facts about each loan program What are Federal Direct Loans Budget

More information

Types of Federal Financial Aid Programs

Types of Federal Financial Aid Programs Types of Federal Financial Aid Programs Students may apply for various need and non-need based programs to assist in paying for the expenses related to attending school. Financial Aid generally consists

More information

Financial Aid Discussion. December 13, 2012

Financial Aid Discussion. December 13, 2012 Financial Aid Discussion December 13, 2012 Discussion Topics Forms and Deadlines Net Price Calculator IRS Data Retrieval Expected Family Contribution (EFC) Financial Need Aid Types Award Notification Special

More information

You can find detailed information about education tax benefits at www.nasfaa.org/students/

You can find detailed information about education tax benefits at www.nasfaa.org/students/ College is one of the best investments you Can make, but it Can be expensive. Savvy students and families can dramatically reduce their out-of-pocket costs by taking advantage of all the student financial

More information

Family Contribution. College Scholarship. External Scholarships. Private Loans. Federal/State Aid and Loans

Family Contribution. College Scholarship. External Scholarships. Private Loans. Federal/State Aid and Loans 2015-2016 Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans Direct Cost Tuition, on-campus room and board, and any special fees Indirect Cost Books

More information

Financial AID. for Law School: A PRELIMINARY GUIDE. A Publication of the Law School Admission Council. Visit us at www.lsac.org or call 215.968.1001.

Financial AID. for Law School: A PRELIMINARY GUIDE. A Publication of the Law School Admission Council. Visit us at www.lsac.org or call 215.968.1001. Financial AID for Law School: A PRELIMINARY GUIDE A Publication of the Law School Admission Council. Visit us at www.lsac.org or call 215.968.1001. Introduction Considering law school but concerned about

More information

Financial Aid. Application Procedure. Financial Aid

Financial Aid. Application Procedure. Financial Aid 21 Financial Aid Seattle University is pleased to offer a variety of strategies and resources aimed at helping eligible students meet the costs of education. Approximately 70 percent of undergraduate students

More information

The following are federal grants or loan programs and the requirements for applying and maintaining each form of financial assistance:

The following are federal grants or loan programs and the requirements for applying and maintaining each form of financial assistance: TITLE IV FEDERAL FINANCIAL AID ASSISTANCE The Federal programs of financial aid at Mid-Plains Community College include loans, grants, and part-time employment. The purpose is to assist qualified students

More information

Financial Aid 2014-15

Financial Aid 2014-15 Financial Aid 2014-15 Office of Financial Aid (315) 781-3315 Geneva, NY 14456 www.hws.edu Financial Aid at HWS At Hobart and William Smith, we have a unique approach to financial aid, one rooted in collaboration

More information

College Financial Aid Night MORGAN A. KELLY ASSOCIATE DIRECTOR STUDENT FINANCIAL ASSISTANCE SACRED HEART UNIVERSITY

College Financial Aid Night MORGAN A. KELLY ASSOCIATE DIRECTOR STUDENT FINANCIAL ASSISTANCE SACRED HEART UNIVERSITY College Financial Aid Night MORGAN A. KELLY ASSOCIATE DIRECTOR STUDENT FINANCIAL ASSISTANCE SACRED HEART UNIVERSITY Tonight s Agenda Sources and Types of Financial Aid Application Process Determining Eligibility

More information