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The Financial Aid Process

The Financial Aid Process. Begin with the End. 2010-2011 Tuition & Fees BCCC = $ 3,742* W. Chester = $ 8,620* PSU = $ 15,562* Holy Family = $ 24,940* Villanova = $ 42,150* Room & Board Books & Supplies Transportation Personal. *estimates/averages.

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The Financial Aid Process

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  1. The Financial Aid Process

  2. Begin with the End • 2010-2011 Tuition & Fees BCCC = $ 3,742* W. Chester = $ 8,620* PSU = $ 15,562* Holy Family = $ 24,940* Villanova = $ 42,150* • Room & Board • Books & Supplies • Transportation • Personal *estimates/averages

  3. To be considered for Financial Aid you must… • Complete the FAFSA form. • Online – www.fafsa.gov • Obtain PIN #’s for student and parent www.pin.ed.gov • Apply for the PIN now!!! • Be sure to include school code & signatures. • Make copies of all applications. • You can complete the FAFSA on Estimated Tax information. • You can check out this web site: www.fafsa4caster.ed.gov

  4. To be considered for Financial Aid you must… • Check with your school to see if they require any additional forms. • Complete tax returns as early as possible; it will help with the completion of the FAFSA. • Make copies of all forms submitted. • Meet all deadlines for completion of forms.

  5. FAFSA on the Web’s Homepagewww.fafsa.ed.gov

  6. HOW TO APPLY FOR A PIN using the www.pin.ed.gov website

  7. How Financial Need is Determined… Cost of Attendance - Expected Family Contribution = Financial Need

  8. Cost of Attendance Tuition and Fees Room and Board Books and Supplies Transportation Personal Expenses

  9. Federal Expected Family Contribution • Total taxed and untaxed income of parent and student • Number of family members • Assets, savings, investments, business or farm investment, but not home equity • Number of children or other dependents enrolled in college on at least a half-time basis. (Excludes parent) • For EFC calculator go towww.collegeboard.com

  10. Types of Aid Federal • Pell Grant • Supplemental Educational Opportunity Grant (SEOG) • Teaching Grant • Work Study • Perkins, Federal Direct Stafford & Direct PLUS Loans State • PA Grants and other state grants, if applicable Institutional • Scholarship, grant, loan or work given by the school Outside • Scholarships: academic, merit, affiliation

  11. Now What? • January – Compile all tax information • February • Meet with your accountant to complete your taxes • File FAFSA and/or PROFILE if needed • March on-going • Watch mail for SAR (email if online) • Watch mail for Financial Aid package from college Note: You must reapply for aid every year

  12. QUESTIONS

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