1 Financial Aid 101 Conard School Counseling Senior Workshop
2 Workshop Agenda Session #1 (Jan 7 th ) Overview of Financial Aid PIN Application College Goal Sunday Session #2 (Jan 14 th ) FAFSA completion Session #3 (optional, by appointment only) FAFSA completion
3 Understanding College Costs Tuition Item Description The cost of taking courses. Course costs vary by school. Room and board Books and school supplies Fees Lodging and food costs vary by school. Books can be expensive. School supplies include book bags; notebooks; pens and pencils; paper and computer paper; and desk accessories such as folders, trays, and pen holders. Fees depend upon your school. Examples include activity fees and parking decal fees. Schools can provide a list of fees. Equipment and room materials Travel and miscellaneous expenses This category might include a computer and printer; reading lamps; a microwave and refrigerator; and sheets, towels, etc. If you commute to school, include transportation costs. If you live on campus, include travel during school breaks. You may also want to include clothing and mobile phone costs.
4 Understanding College Costs Tuition and Student Fees for Connecticut Schools*: Community College Full-Time: $3,866 State University Full-Time: $8,877-$9,560 University of Connecticut Full-Time: $12,700-$10,650 Porter and Chester: $37,600 (entire program of 12 months) *Based upon online data from 2014
5 Understanding College Costs UConn Undergraduate, Storrs Campus (14-15) The total Cost of Attendance (COA) includes direct educational costs and an estimate of indirect costs based on full-time attendance at Storrs for both fall and spring semesters. UConn Undergraduate, Regional Campus (14-15) The total Cost of Attendance (COA) includes direct educational costs and an estimate of indirect costs based on full-time attendance for both fall and spring semesters. Fees are an average of the costs at the various regional campuses for the year. Direct Costs In-State Direct Costs In-State Tuition 9,858 University and Student Fees 2,842 On/Off-Campus Housing Estimate* 7,296 On/Off-Campus Meal Plan Estimate* 5,352 Subtotal Direct Costs 25,348 Estimated Indirect Costs In-State Books and Supplies 850 Transportation 1,100 Miscellaneous 1,700 Subtotal Indirect Costs 3,650 Estimated Total Expenses 28,998 Tuition 9,858 University and Student Fees 792 Subtotal Direct Costs 10,650 Estimated Indirect Costs In-State Books and Supplies 850 Transportation 1,500 Board 1,800 Miscellaneous 1,250 Subtotal Indirect Costs 5,400 Estimated Total Expenses 16,050
6 Sticker price vs. Net price
7 Net Price Calculators A free online tool that students can use to estimate their net price to attend a particular school. It asks you questions about your family s finances and may also ask you questions about your GPA, test scores, activities and other things that may qualify you for financial aid.
8 What is Financial Aid? Financial aid is money that can help you pay for post-high school education. This financial assistance covers educational expenses including tuition and fees, room and board, books and supplies, and transportation. Some aid needs to be paid back or earned; some aid is a gift. More than $185 billion in aid is available from federal/state governments, colleges/universities, and private organizations. https://bigfuture.collegeboard.org/pay-for-college/financial-aid-101/7-things-you-need-to-know-about-financial-aid
9 What are the different types of Financial Aid? Grants & Scholarships Work Study Loans Financial aid awards may include a combination of the various types of aid.
10 Grants and Scholarships Grants and scholarships are often called gift aid because they are free money financial aid that doesn t have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Grants and scholarships can come from the federal government, your state government, your college or career school, or a private or nonprofit organization.
11 Work Study Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. Work is typically available on a first-come, firstserved basis at participating colleges. Undergraduate students are paid hourly and can only earn up to their total Federal Work-Study award.
12 Student Loans A loan is money you borrow and must pay back with interest. If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.
13 Federal Loans Federal Stafford Student Loan Subsidized- must demonstrate need, maximum amount $3,500, repayment delayed as long as student is enrolled half-time Unsubsidized- repayment begins after loan is taken out Federal PLUS Loans Parent loan- there is a credit check No loan maximum Payments begin 60 days after loan taken out Federal Perkins Loan Loans are offered by the schools themselves- not all schools participate Loans are subsidized- repayment is delayed as long as student is enrolled half-time.
14 Do I qualify for Financial Aid? To receive federal student aid, you ll need to Earn a high school diploma Be enrolled or accepted for enrollment in an eligible degree or certificate program Be registered with Selective Service, if you are a male Have a valid Social Security number Maintain satisfactory academic progress in college or career school Be a U.S. CITIZEN/NATIONAL or have a GREEN CARD or have an ARRIVAL-DEPARTURE RECORD or have BATTERED IMMIGRANT STATUS or have a T-VISA
15 How do I apply for Financial Aid? To apply for federal student aid, you need to complete the FAFSA (Free Application for Federal Student Aid) The information you report on your FAFSA is used to calculate your EFC (Expected Family Contribution). The EFC is a measure of your family s financial strength. Schools use the EFC to calculate the amount of federal student aid you are eligible to receive. Complete the FAFSA at https://fafsa.ed.gov The FAFSA qualifies you for federal aid, but many state governments and colleges also use this application to award their own aid.
16 What happens after I complete the FAFSA? You ll receive a Student Aid Report (SAR) via a few days after your FAFSA has been processed (if application is completed online). If there are no corrections or additional information you must provide, the SAR will contain your EFC. The EFC (Expected Family Contribution) that displays on your SAR is a calculation based on the information that you reported on your FAFSA. Your schools use the EFC to determine the amount of federal grants, loans, and work-study for which you may be eligible. Once accepted, the school will calculate your aid and will send you an electronic or paper award letter that details the financial aid you re eligible to receive. You may accept or deny any part of the award. The timing of the award letter varies from school to school. Do NOT wait until you are accepted to complete your FAFSA!
17 What can I do if my Financial Aid doesn t meet my needs? Scholarships Naviance https://connection.naviance.com/conard Most current listing of local scholarships Hartford Foundation for Public Giving Open to students in Great Hartford area Fastweb Scholarship search engine College Board https://bigfuture.collegeboard.org/scholarship-search Scholarship search engine
18 What can I do if my Financial Aid doesn t meet my needs? Private loans Many private student loans require payments while you are still in school. Private student loans can have variable interest rates, some greater than 18%! CHESLA loans have a fixed 6.75% interest rate while in school Private student loans may require an established credit record. The cost of a private student loan will depend on your credit score and other factors. You may need a cosigner.
19 $25,000 Unsubsidized Loan at 6.8% Interest- Repayment Repayment Plan Monthly Monthly Loan Payment Total Interest Total Loan Payments Standard 10 Years $288 $9,524 $34,524 Extended 12 Years $254 $11,639 $36,639 Extended 15 Years $222 $14,946 $39,946 Extended 20 Years $191 $20,802 $45,802 Extended 25 Years $174 $27,054 $52,054 Extended 30 Years $163 $33,674 $58,674
20 Where can I go for more assistance? Your (prospective) school s financial aid office They can assist with completing the FAFSA and understanding your award letter. Federal Student Aid Website Great website with information on various financial aid topics. College Goal Sunday Free program that helps students and families complete the FAFSA.
21 College Goal Sunday Sunday, January 25, :30 p.m. 4:30 p.m Hall High School (and other sites throughout the state) College Goal Sunday is a free, on-site program that helps students and families complete the Free Application for Federal Student Aid (FAFSA), the form that is required to apply for financial assistance for higher education. You MUST register ahead of time online.
22 Vocabulary of Financial Aid Award Letter- An offer from a college or career school that states the type and amount of financial aid the school is willing to provide if you accept admission and register to take classes at that school. EFC- Expected Family Contribution -a number used by your school to calculate the amount of federal student aid you are eligible to receive. FAFSA- Free Application for Federal Student Aid Net Price- Your net price is a college s full cost of attendance minus the grants and scholarships you receive. Net Price Calculator- A net price calculator is a free online tool that gives you a personalized estimate of net price. PIN- Personal Identification Number- serves as your identifier to allow access to personal information and acts as your digital signature on some online forms. SAR- Student Aid Report Student Aid Report- A summary of the information you submitted on your FAFSA.
23 First Step: Register for a PIN Website: Serves as an electronic signature (do not share!) Students and parent(s) apply Same PIN is used each year PIN Checklist: Social Security Number Your full name Date of Birth Address
24 What do I need to bring next week? Your FAFSA PIN https://pin.ed.gov/ If you do not have a PIN, please be sure to know your social security number so you can apply for one. Driver s license (if any) Documentation that you are a US permanent resident or other eligible non-citizen (i.e. green card, if applicable) OPTIONAL (will be needed to complete the FAFSA) Your W-2 Forms from 2014 and/or Federal Income Tax Return (1040, 1040EZ, etc) Your untaxed income records (i.e. social security, if applicable) Current bank statements
TABLE OF CONTENTS HELPFUL FINANCIAL AID HINTS.........................................................................................1 PAYING FOR COLLEGE.................................................................................................2
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,
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
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.
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:
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
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
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
ST. FRANCIS COLLEGE GUIDE to Paying for College Learn about all of the financial aid opportunities available to you and how you can apply: College Scholarships Federal & State Grants Student Employment
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
Your Financial Aid Journey Investing in Your Future 5 Steps to Prepare for College College Financing Options Financial Aid Terms Investing in your future Higher earnings College graduates earn more money
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
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
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
APPLYING FOR FINANCIAL ASSISTANCE The Office of Financial Aid is dedicated to responding to the needs of our students. We are committed to assisting our students achieve their educational goals by providing
The Financial Aid Process Paying for College Kenneth McGhee, Financial Aid Manager The SEED Foundation Agenda for Conversation Section One Education Pays Section Two What is Financial Aid?, Section Three
Financial Aid Night 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 email@example.com What is Financial Aid? Scholarships Grants Employment opportunities Loans How To Apply
Financial Aid Overview 1/14/2015 1 Presentation Objectives Understand the financial aid process and timeline Know the different types of financial aid and how to access each of them Understand why everyone
College Prep Course (BIM) 2015-2016 Empowering our Students for life after high school For Excellence beyond HS LESSON OBJECTIVE Content Objective The student learn the steps and guidelines in preparing
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
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.
SUNY Financial Aid Day University at Buffalo February 22, 2014 Agenda SESSION 1: Presentation and Q&A 9:00 9:45 am Complete your on-line FAFSA and TAP applications 9:45 10:45 SESSION 2: Presentation and
Financial Aid 101 2014-2015 Representative s Name Outreach Representative Agenda Basic Information: What, Who and How How is Financial Need Calculated Federal Programs State Programs Filling out the FAFSA
FINANCIAL AID NIGHT 2015 2016 1 Understanding the College and Financial Aid Application Process Be patient, thorough, and organized as you go through the college admission and financial aid application
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
Financial Aid Glossary Ability-to-Benefit Academic Year Accreditation Accrue Award Letter Borrower Capitalized Consolidation Cost of Attendance (COA) Default One of the criteria used to establish student
2015-2016 Carol Ann Lott Outreach Representative Basic Information Federal Programs State Programs Filling out the FAFSA Additional Resources 2 3 Financial aid is money to pay for college or career school
LONG ISLAND UNIVERSITY Guide to Financial Planning 2014-2015 LIU is committed to making a quality private education affordable for every student. A college education is a wise investment in your future
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
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
it ta kes a n i n v e s tm en t to build a future fin anci al a i d invest in a lasting foundation A university education requires significant investments of time, effort and money. To help you get the
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
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.
How to Pay for College Financial Aid & Scholarships What is FAFSA? FAFSA stands for what? FREE APPLICATION FOR FEDERAL STUDENT AID What is Financial Aid? Grants Work Study Loans Loans for both students
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
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
The SAMFund Presents: Going Back to School Post-Cancer: The Pros, Cons and Hows Sherri Avery Director of Financial Aid and Student Employment Brandeis University firstname.lastname@example.org Agenda Pros and cons
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
2015-2016 Financial Aid Guide Graduate Programs Office of Student Financial Aid Located in Student Administrative Services (SAS) Dorsey College Center Hours: 8:45 a.m.-5:00 p.m., Monday-Friday Phone: 410-337-6141
Financial Aid Basics Junior Parent Night 2015 Franklin High School What is Financial Aid? Sources of Financial Aid. What types of aid are there? How do I apply for/receive each type? What are the basic
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.
Student Aid Program Summary Most federal student aid is need-based, taking into account an expected family contribution (EFC). Need-based financial aid comes in three basic types: 1. Grants and scholarships,
What You Need to Know about Financial Aid Ms. Noble, A-Gri: email@example.com Ms. Chung, Gu-Par: firstname.lastname@example.org Ms. Rader, Pat-Z: email@example.com What Will You Learn at This Workshop What is financial
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
Glossary Financial Aid & Student Loan Terms A Academic year A period of time schools use to measure a quantity of study. For example, a school s academic year may consist of a fall and spring semester,
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
YOUR GUIDE TO FINDING THE FUNDS FOR COLLEGE Funded by the Education Services Foundation, our mission is to help Mississippi students plan and pay for college. Jackson: 601.321.5533 Gulf Coast: 228.875.4441
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
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
Managing the Price of College SUNY NEW PALTZ Office of Financial Aid OVERVIEW OF PRESENTATION Key trends in costs and funding Traditional and Non-Traditional ways of paying for college How to determine
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
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
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
Ohio Private Loan Marketplace http://ohio.privateloanmarketplace.com/ Once you and your family have considered institutional and federal loan options, you can use the Ohio Private Loan Marketplace to instantly
Financial Aid Group Financial Aid Group Scholarships, FAFSA, and Everything Else Show me the money (bling) Average Earnings by Education Lev $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 *Source:
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
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
How do I apply for financial aid? To apply for financial aid, a student must fill out a FAFSA. FAFSA stands for the Free Application for Federal Student Aid and can be completed at www.fafsa.gov. You should
PAYING FOR COLLEGE AGENDA Financial Aid Overview FAFSA Award Letter Alternate Payment Options 30 minutes Q&A 15 minutes Financial Aid Overview What is Financial Aid? Financial aid makes college more affordable
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
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
AWARD LETTER COMPARISON WORKSHEET Different schools have different resources, so financial aid offers can vary greatly from school to school. There are several components of an aid offer you should consider:
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
Office of Student Financial Aid & Scholarships Agenda What are we going to talk about? How to use our website How to pay for college Work-study Loans Grants & Scholarships Remaining eligible for aid Planning
How to pay for College: What are some ways in which we can pay for college?? What are some ways in which we can pay for college?? 1. Grants/Scholarships What are some ways in which we can pay for college??
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!
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
FINANCIAL AID UPDATE Jill Rayner University of North Georgia Agenda Federal Student Aid HOPE Scholarship Private Scholarship Other Aid How aid effects Chapter 33 benefits Applying For Financial Aid Free
2012-2013 financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university Planning for college can be one of the biggest financial challenges for families.
Financial Aid High School Presentation New Jersey Higher Education Student Assistance Authority 2013/2014 Award Year The Mission The Higher Education Student Assistance Authority is the only State agency
2014-2015 Financial Aid Guide Post-Baccalaureate Premedical Certificate Program Office of Student Financial Aid Located in Student Administrative Services (SAS) Dorsey College Center Hours: 8:45 a.m.-5:00
THE SOLUTION CENTER Financial Aid Registrar Student Financial Services YOUR GUIDE TO FINANCIAL AID 2016-2017 //////////////////////////////////////////////////////////////////////////////////////// 1 The
Lone Star College-North Harris Educational Talent Search www.lonestar.edu/19028.htm Free Application for Federal Student Aid (FAFSA) Seminar for Students & Parents January 12, 2013 Welcome Introduction
Glossary of Financial Aid Terms Accrued Interest --- interest that has accumulated on the unpaid balance of a loan. Adjusted Gross Income (AGI) gross income minus deductions. This figure appears on IRS
FINANCIAL AID UNDERSTANDING YOUR OPTIONS Affording a Best-Value Jesuit Education Every accepted student who attends Wheeling Jesuit University is considered for financial assistance. Wheeling Jesuit is
step 1: apply for financial aid Applying for Financial Aid 1. Complete the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). It can be found online at www.fafsa.gov. It is the only financial aid application
Financing Your Graduate Education Overview of Today s Workshop Estimating Graduate School Costs Making a Budget Funding Options Available Example Additional Resources Did you know The tuition for medical
MONEY MATTERS Financial Aid & TOPS How to Apply: The FAFSA Complete FAFSA at www.fafsa.gov 2014-2015 for Sum 14, Fall 14, Spring 15 Deadlines: May 1: Financial Aid July 1: TOPS Must be completed each school
2014-2015 Financial Aid Guide your guide to FINANCIAL AID Although tuition at Northwest ranks among the lowest in Mississippi, scholarships, loans, grants and workstudy are available to qualified students
UNC Wilmington Office of Scholarships & Financial Aid Seahawk Saturday September 2015 Cost of Attendance & Average Award Applying for aid Verification Types of aid Eligibility Additional Tips VA Benefits