Finding Money for College or Career School Basics of Financial Aid

Finding Money for College or Career School Basics of Financial Aid and the FAFSA Process [Presenter Name Presentation Date]

We will talk about: Federal student aid State student aid Institutional aid Scholarships from other sources

We will answer: What is financial aid? Who can get it? How much can I get? How do I apply? What happens next? Where can I get more info?

What is financial aid? Money to pay for college or career school Grants Work-study Loans Scholarships Info about types of aid: StudentAid.gov/types

Who can get federal student aid? U.S. citizen/national or eligible noncitizen High school diploma or equivalent Eligible degree/certificate program in college/career school Student has valid Social Security number Satisfactory academic progress in college/career school Info about eligibility: StudentAid.gov/eligibility

Who can get other kinds of financial aid? States, colleges, and private scholarships have their own eligibility criteria. Be sure you know what you need to do to qualify. Info about finding scholarships: StudentAid.gov/scholarships

How much federal student aid can I get? In general, depends on your financial need. Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) EFC comes from what you report on FAFSA form COA includes tuition, fees, room and board, transportation, etc. COA – EFC financial need

How much federal student aid can I get? Maximum amounts for the major programs for a dependent freshman in 2021-22: Federal Pell Grant: 6,495 Federal Work-Study: depends on funds available at school Direct Subsidized and Unsubsidized Loans: 5,500 total Direct PLUS Loan (for parents): COA minus other aid received Funds from other programs are available; see StudentAid.gov/needmoney for details.

How much federal student aid can I get? For early estimate, use the Federal Student Aid Estimator: Go to StudentAid.gov/aid-estimator Enter some financial information Get an estimate

How much state, school, and private scholarship money can I get? Depends on the program; do your research! Our state aid: [input amounts for state financial aid] Ask college financial aid offices for info about aid available at their schools Free scholarship search at StudentAid.gov/scholarships

How do I apply for aid? Federal student aid: apply at fafsa.gov State aid: [insert info about any state forms necessary and where to get them] School aid: contact financial aid offices at schools you are considering Scholarships: visit scholarship website or call contact number for information

How do I apply for federal student aid? 1. Create a username and password called an FSA ID at StudentAid.gov/login. Learn about how you can use your FSA ID at StudentAid.gov/help-center/answers/article/how-can-i-us e-my-fsa-id-username-and-password . You and your parent must each create your own FSA ID; you can’t share one. If you provide an email address when creating your FSA ID, it must be a unique email address (can’t provide same email address for more than one person’s FSA ID). Don’t tell anyone your FSA ID!

How do I apply for federal student aid? 2. Gather the documents you need to apply. Find checklist of what’s needed on infographic called “The FAFSA Process” at StudentAid.gov/ resources#fafsa Optional: Preview some of the FAFSA questions on the FAFSA on the Web Worksheet. (Get worksheet at StudentAid.gov/resources#fafsa)

How do I apply for federal student aid? 3. Apply at fafsa.gov. Apply on or after October 1 but as early as possible to meet all deadlines. State deadlines are at fafsa.gov. School deadlines are listed on schools’ websites. Use your (student’s) FSA ID to start the application; saves time and confusion. Need help? Use help functions within the FAFSA form, or live chat on the website, or call 1-800-4-FED-AID. Don’t forget—watch for the confirmation page that says your FAFSA form has been submitted. THEN log out.

How do I apply for federal student aid? 4. Watch for response by email or by mail, confirming that your FAFSA form was processed. Double-check that your info is correct by logging on at the FAFSA site and reviewing your data. Correct any mistakes and submit the corrected info. Don’t update info that was correct on the day you signed your FAFSA form.

How do I apply for federal student aid? 5. Watch for emails or letters from the schools you are considering. Give the schools any additional paperwork they ask for. Meet all deadlines or you could miss out on aid!

What happens next? Evaluate schools’ aid offers. Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.

Where can I get more info? StudentAid.gov Info about aid programs Links to free scholarship and college searches 1-800-4-FED-AID or StudentAid.gov/contact Info about aid programs Help with FAFSA form

Questions?

Thanks for coming Contact information: [insert counselor/advisor/mentor name] Phone: (xxx) xxx-xxxx E-mail: [email protected]