1 / 37

Financial Aid

Financial Aid . Prospect High School Guidance Department Fall 2010. Agenda. What is Financial Aid? Financial Aid Myths Application Process Calculating Eligibility Awarding and Packaging What Next?. What is Financial Aid?.

Donna
Télécharger la présentation

Financial Aid

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Financial Aid Prospect High School Guidance Department Fall 2010

  2. Agenda • What is Financial Aid? • Financial Aid Myths • Application Process • Calculating Eligibility • Awarding and Packaging • What Next?

  3. What is Financial Aid? • Financial Aid is any money given, paid or loaned to help pay for education • Federal Student Aid • California State Aid

  4. What does it pay for? • Tuition and fees • Room and board • Books and supplies • Transportation • May also include allowance for: • Child care • Costs associated with a disability • Rental or purchase of computer

  5. FAFSA & CalGrant • Free Application for Federal Student Aid (FAFSA) • CalGrant

  6. Basic Equation of Need Cost of Attendance (COA) • Expected Family Contribution (EFC) • Student’s Financial Need (eligibility)

  7. Santa Clara COA $50,604 - EFC 1,000 = Need $49,604 San Jose State COA $19,888 - EFC 1,000 = Need $18,888 West Valley COA $10,667 - EFC 1,000 = Need $ 9,667 Examples only: contact college directly for 2010 – 11 costs.

  8. Financial Aid Myths • Myth #1: You can’t afford college • Myth #2: You have to be very poor, very smart or very talented to qualify • Myth #3: You can get more scholarships by paying someone to search for you • Myth #4: If you pay for college, your parents’ salaries don’t matter • Myth #5: You can wait until you get accepted to a college before worrying about financial aid

  9. Types of Financial Aid • Need-Based • Based on family’s financial situation • Non Need-Based (Scholarships/Loans) • Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.

  10. Types of Financial Aid • Gift Aid • Grants • Federal Pell Grants • Cal Grants • Scholarships • Self Help • Work Study • Loans

  11. Types of Financial Aid – GIFT Federal Pell Grant • First source of aid • Undergraduate students only • Amount based on • Cost of Attendance (COA) • Expected Family Contribution (EFC) • Enrollment status • 2010-2011 maximum = $5,800

  12. Types of Financial Aid – GIFT Cal Grants • Cal Grant A For students with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need • Cal Grant B For students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need • Cal Grant C For students from low income families pursuing career programs of study

  13. Types of Financial Aid – GIFT College Grants • Community CollegeBoard of Governor’s Fee Waiver (BOG) • Waives enrollment fees, FAFSA may be required • CSU State University Grant (SUG) • Amounts vary, FAFSA is required • UC Grant • Amounts and application process vary • Independent College Grants • Amounts and application process vary

  14. Creating a “WebGrants 4 Students” Account • For the first time, students can now create a WGS account with a submitted GPA to the Commission. • To establish a WGS account, go to www.webgrants4students.org and follow the instructions!

  15. Types of Financial Aid – SELF-HELP Federal Work Study • Campus-based aid • Must be earned through work • Job may be on or off campus • May have annual maximum • funding levels vary at each institution • Need-based

  16. Types of Financial Aid – SELF-HELP Loans • Subsidized- Need based • Unsubsidized- Not need based • PLUS - Not need based • Perkins - Need based

  17. Step 1: Filing the FAFSA Apply For A PIN Students need a PIN. Parents need a PIN. The PIN Application Process consists of 3 steps:Step 1: Enter Personal InformationStep 2: Submit Your PIN Application Step 3: Receive Your PIN www.pin.ed.gov

  18. Information Needed to Register for a PIN • Social Security Number • Last name, First name, Middle initial • Date of Birth • Address • E-mail

  19. Step 2: Apply Online File a FAFSA online 1-800-4-FED-AID (1-800-433-3243) www.fafsa.ed.gov

  20. What’s the deadline? The 2011-12 deadline for FAFSA and GPA submission is Wednesday, March 2, 2011

  21. What is a name? • Must use legal name as it appears on social security card MARGARET Margo Jen JENNIFER

  22. Are you a U.S. citizen? U.S. Citizen, Eligible non-citizen, or Neither • Must have a Social Security Number to continue online application • 800.772.1213 or www.ssa.gov • Matched with name and date of birth registered with SSA

  23. Who is eligible for federal aid? Eligible non-citizen • If checked ‘eligible non-citizen’, must provide the Alien Registration Number (ARN) • US permanent resident with alien registration card • Conditional permanent resident • Refugee, asylum granted • The ARN will be matched with records at Department of Homeland Security (DHS)

  24. Selective Service/ Inactive Draft • Males between 18 and 25 must register • Check “Yes” and you will be automatically registered • Not yet 18, check yes and SSS will register you on birth date • May also register using Web site • www.sss.gov

  25. Degree/Grade Level Student’s Grade Level • Check “1st year/never attended college before”, whether or not a concurrent enrollment student Degree • Check “1st bachelor’s degree” Student’s expected enrollment status • Always check “full time” • Does not commit you to attending full time

  26. Loans or Work Study • Check “Both work-study and student loans” • does not obligate student • can decline once aid is awarded • Checking “neither” may restrict some of your options

  27. Dependency Status • Dependent = parent info required • Independent = parent info not required • Independent students are one or more of the following: • 24 years of age or older • Completed first BA/BS degree • Married • Parent of a child for whom you are providing 50% or more of your financial support • On Active Duty / A Veteran • At age 13 or older were a ward of the court, an orphan (both parents deceased), or in foster care • Emancipated minor • In legal guardianship • Unaccompanied youth, homeless, or self-supporting and at risk of being homeless

  28. Parents’ Household Size • Include student and parents • Siblings/ other people (regardless of age) • If they live with parents and provide 50% or more of their financial support from July 1, 2010- June 30, 2011

  29. Real Estate Trust Funds Money Market Funds Mutual Funds Certificates of Deposit Stocks Stock Options Are not… Home you live in Retirement Plans Checking or Savings Accounts Investments

  30. What Happens After Applying? Students and colleges receive Student Aid Report (SAR) from federal processor ê Students who complete FAFSA and Cal Grant GPA Verification Form receive California Aid Report (CAR) ê Colleges match admission records with financial aid applications and determine aid eligibility ê Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms

  31. Comparing Awards Gather Information • Award letters from all colleges • Circle or highlight aid types and amounts • Every college may have a different awarding policy • College cost of attendance information • Award Letters • Handbooks, application materials

  32. Application Process CSS Financial Aid PROFILE www.profileonline.collegeboard.com/index.jsp • 2 step process • $25 online registration • $16 per school • Not used for awarding federal financial aid • Filed earlier than the FAFSA • Not all schools require • Application is customized for each student • Assistance is available: • Phone (305) 829-9793 • E-mail: help@cssprofile.org

  33. Application Process CSS Financial Aid PROFILE (cont.) The undergraduate colleges in California that require the CSS/Profile are: • California Institute of Technology • Claremont McKenna College • Harvey Mudd College • Occidental College • Patten University • Pitzer College • Pomona College • Santa Clara University • Scripps College • Stanford University • University of Southern California

  34. Questions? Financial Aid Night at West Valley College Theater Thursday, January 20th 6:30 – 8:30 PM Workshops are presented in English, Spanish and Vietnamese

  35. Your To-Do List • Complete GPA Release Form and return to the Guidance office • Complete the FAFSA online beginning January 1st • Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 20th • Attend Scholarship Workshops at PHS on January 19th and January 20th • Watch for your Student Aid Report (SAR)

  36. PIN Workshop • Information Needed to Register for a PIN • Social Security Number • Last name, First name, Middle Initial • Date of Birth • Address • Email address and be able to log in remotely (id/password, if needed)

  37. Thank you Apply!

More Related