Financial Aid 101

1. Financial Aid 101 Funding a College Education

2. Senior Year Checklist Fall Semester • Take and retake the ACT/SAT • Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators • Complete local/private scholarship applications Spring Semester • Complete 2015-16 FAFSA available January 1, 2015 • Continue completing local/private scholarship applications • Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

3. Cost of Attendance

4. Cost of Attendance

5. Financial Aid Sources

6. Institutional Aid

7. Private Aid

8. FAFSA • 2015-16 FAFSA on the Web • Available January 1, 2015 • www.fafsa.gov (VERY IMPORTANT!) • Priority deadline is as soon as possible after January 1, 2015!

9. Federal Aid

10. State Aid (2-yr) *All courses calculated on a 4.0 scale per the Uniform Grading Policy

11. TN Promise Checklist • Apply to the Tennessee Promise program at www.TNPromise.gov by November 1, 2014 • Complete 2015-16 FAFSA at www.FAFSA.gov by February 15, 2015 • Attend first mandatory meeting coordinated by a partnering organization by March 1, 2015 • Attend second mandatory meeting coordinated by a partnering organization by May 31, 2015 • Complete 8 hours of community service post high school graduation but prior to fall enrollment

12. TN Promise

13. State Aid (4-yr) *All courses calculated on a 4.0 scale per the Uniform Grading Policy

14. State Aid *All courses calculated on a 4.0 scale per the Uniform Grading Policy

15. Online Applications *All courses calculated on a 4.0 scale per the Uniform Grading Policy

16. Social Media Like us on Facebook at: Tennessee Student Assistance CorporationFollow us on Twitter:@TNFinancialAidCheck out our website at:www.TN.gov/collegepays

17. Contact Info Annie Trout annie.trout@tn.gov 615.604.0119 (c)

18. Financial Aid Terms • COA – cost of attendance; varies by institution • EFC – expected family contribution; number derived from the FAFSA and used to determine need based aid eligibility • FAFSA – Free Application for Federal Student Aid • PIN – personal identification number; used to electronically sign the FAFSA • SAR – student aid report; summary of FAFSA information • Grant – free money based on need • Loan – money borrowed that must be paid back with interest • Scholarship – free money awarded on the basis of merit, skill, or unique characteristic • Verification – random “audit” of FAFSA • Work study – money received from on campus employment

19. FAFSA Checklist • Student’s Social Security number • Parent(s)’ Social Security number(s) • Student’s driver’s license number if you have one • 2014 tax information for student and parent(s) • To complete and submit FAFSA in January, use estimated tax information (i.e. 2013 tax return, 2014 W-2 information, or last paystub) • Records of your untaxed income, such as child support and veterans noneducation benefits for student and parent(s) • Information on checking and savings account balances; investments; and business and farm assets