MCHENRY COUNTY COLLEGE

1. MCHENRY COUNTY COLLEGE Financial Aid Overview

2. MCC – PROMISE Due to overwhelming demand, new applications for the MCC Promise are no longer being accepted. • www.mchenry.edu/promise • Northwest Herald 9-24 & 9-25 • October, 22nd 2009 • (815)479-7707

3. THE FAO STAFF • Laura McGee– • Director • Lynn McCabe – • Specialist/Veterans • Carolyn Gray– • Specialist/Scholarships • Leana Davis – • Specialist/Outreach/Work Study • Maria Tech – • Specialist/Promise • Annette Roewer– • Part-time Assistant • Brittany Menta– • Part-time Assistant

4. WHAT IS FINANCIAL AID GIFT AID: • Grants • Scholarships SELF HELP: • Loans • Work Study

5. GRANTS FEDERAL • PELL • SEOG • ACG/SMART STATE • MAP • IIA • INSTITUTIONAL • Four Year Universities • Private Universities

6. LOANS • Federal Stafford Loan/Federal Direct Loan • 6.8% fixed • Federal Perkins Loan • 5.0% • Federal Parent Loan (PLUS) • 8.5% interest • Institutional Loan • varies • Alternative/Private Loan • varies

7. SCHOLARSHIPS • HS Guidance Office • College website • mchenry.edu/scholarships • State of Illinois website • collegezone.com • Clubs & organizations • Labor unions & employers • Online scholarship search

8. Scholarship Application Tips • Never pay a fee • Never give out your social security number • Make sure the applicant fits ALL the scholarship criteria • Maintain a decent GPA • Develop interests and talents into specific activities • Be sure to get letters of recommendation • Employers • Teachers • Clubs Advisor

9. WORK STUDY • Available for undergraduate and graduate students • Pay is usually at least minimum wage • Most employment is on campus • Colleges try to work around student schedule

10. EDUCATIONAL OPPORTUNITIES AND THE MILITARY • Available during and after military service • See your local recruiter or Veteran Coordinator at your college for more details

11. How To Apply: F A F S A • Free Application for Federal Student Aid • FAFSA On The Web • www.fafsa.ed.gov • Highly recommend for speed and accuracy • Paper Version & Special Needs Assistance • Department of Education (800) 433-3243

12. How To Apply: F A F S A • Must be completed annually • When taxes are filed complete the FAFSA • Available January 1 • Each student and parent attending college needs a separate FAFSA

13. PIN NUMBERS • Used to sign FAFSA on the web • Each student and one parent need a pin • Parents will receive one pin to be used for all their students and for their own FAFSA should they attend college • Speeds process time • Apply for the pin numbers now • www.pin.ed.gov

14. REQUIRED INFORMATION • Demographic info including: • Social security number(s) • Student Income • Parent Income • Untaxed Income • Investments information • School choices

15. MOST COMMON FAFSA QUESTIONS • Which Parent Income Do I Use? • Both parents if married or • Parent & step parent (if remarried) or • Parent that student lived with the most during 12 months prior to filing FAFSA • What If Parents Who Filed Taxes Jointly Are Now Divorced Or Separated? • Use only the income from the parent that student lived with the most during 12 months prior to filing FAFSA; be sure to include child support if received

16. MOST COMMON FAFSA QUESTIONS • Who Is Included As a Member Of The Household? • Your parents and yourself • Anyone you or your parents' support more than 50% • Can I List More Than One School? • You may list ten (10) schools on the FAFSA

17. MOST COMMON FAFSA ERRORS • Leaving items blank • Review instructions and note sections on the FAFSA • Worksheet available @ MCC Financial Aid Office and Online • Forgetting to sign and mail a signature page if a pin was not used to sign online. • Signature page must include all necessary signatures. • Signature page must be mailed to the DOE. • Incorrect information. • TAX INFO-Double check your tax information and be sure to pull from the correct line item. • DEPENDENCY STATUS QUESTIONS- must have documentation

18. WHAT HAPPENS AFTER I FILE THE FAFSA • You will receive a Student Aid Report via email or US mail. This will include an EFC from the Dept of Education. • Schools listed on your FAFSA will then request additional information. It is critical the requested information is returned ASAP! • The financial aid office will send you an award notification detailing your eligibility.

19. COST OF ATTENDANCE • Tuition and fees • Room and board • Books and supplies • Transportation costs • Miscellaneous personal expenses • Loan fees

20. DEFINITION OF NEED COST OF ATTENDANCE (COA) - EXPECTED FAMILY CONTRIBUTION (EFC) = FINANCIAL NEED

21. EDUCATION TAX CREDITS • American Opportunity Tax Credit • tutorial available at www.youtube.com • Go to www.irs.gov/individuals/students

22. FAFSA COMPLETION WORKSHOP • Date: Watch our Website • www.McHenry.edu • 3rd Thursday in February in prior years • MCC Software Conversion • Complete the FAFSA online at MCC • Open to students attending any college • Must bring: • 2009 Federal income tax forms • Social Security Cards(s) • Untaxed income/Asset Information

23. MCHENRY COUNTY COLLEGE • We are your community college – please use us as a resource. • Even if you are attending another college, please contact us with any financial aid questions • Website: www.mchenry.edu • Office Hours: • Mon-Thurs…….8:00 am – 7:30 pm • Friday…………..8:00 am – 4:30 pm • Saturday………..8:00 am – 1:00 pm

24. QUESTIONS THANK YOU FOR COMING!