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College Financial Aid

College Financial Aid. What is it ? How do I apply ? How can I prepare NOW ?. What is Financial Aid ?. 1 st we need two pieces of information: The cost of attending college minus what the family can contribute toward that cost = Financial need.

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College Financial Aid

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  1. College Financial Aid What is it ? How do I apply ? How can I prepare NOW ?

  2. What is Financial Aid ? 1st we need two pieces of information: • The cost of attending college minus • what the family can contribute toward that cost = Financial need

  3. Financial Aid is... … the attempt to meet that financial need in order to make it affordable for the student to attend a given institution.

  4. Tuition & Fees Room & Board Books & Supplies Transportation Miscellaneous Personal Expenses LoanFees Cost of Attendance

  5. How to apply for Financial Aid • The FAFSA FORM • The CSS College Profile

  6. The FAFSA Form • Stands for Free Application for Federal Student Aid • It is a form similar to an Income Tax Return • Must be completed by BOTH the student and parent(s) • This document cannot be filed until after January 1st

  7. Before you submit your FAFSA • You must have applied to a college prior to submitting your FAFSA application • Make sure you have included your tax information for the year just ended • Check that you have answered all the questions on the form

  8. Electronic www.fafsa.ed.gov *** TIME SAVER TIP *** if applying to a college in NY State!

  9. Bonus Time! • If you are planning to attend a college in New York State, you will be asked after completing your FAFSA form “Do you now want to go to HESC (NY State site for financial aid) • CLICK YES!

  10. FAFSA Follow-Up • Once it is processed you should be able to print out a Student Aid Report (SAR) • Check the statement for accuracy, if there are any mistakes correct them line by line and resubmit • Remember the FAFSA is processed for free

  11. The CSS College Profile • This is a document required by more pricey private institutions • It may be filed early in the senior year as soon as the student knows which school he/she will be applying to • Please remember that The FAFSA must still be filed

  12. Two Categories of Aid Non-need based To recognize special skills, talent or athletic ability Need-based Need to demonstrate financial need

  13. College Loans • It is important to stress that loans are an integral part of almost all financial aid packages • Remember education is an important investment in the future of your child and loans are not a bad thing • We take out loans to buy a car, a home and many other things in life; this particular loan pays a great return over the course of the student's life

  14. Students with a college education earn considerably more during the course of their lifetime than those without • Weigh the benefits of college loans

  15. Federal Family Education Loan Program(FFELP) Federal Stafford Loans Subsidized vs. Unsubsidized

  16. Scholarships How to find them & How not to get taken!

  17. Scholarships are given for: • Grades • Athletic Ability • 1st Generation College Student • Other outstanding talents • They are based upon merit as opposed to financial need!

  18. Talk with the financial aid counselors at the college you are considering applying to The local scholarships are posted in all three guidance offices The complete list of local scholarships and the individual applications are available at our new website: www.newburghschools.org then click on the guidance link The Internet How to find them

  19. http://www.fastweb.com/

  20. Don’t get ripped-off • Free Seminar • Application fees • Guaranteed winnings • We have information/sources that no one else has • Claims of influence with scholarship sponsors

  21. Sources of Scholarships • The Colleges and Universities • Your employer, Union, or any Organization that you belong to (i.e. Rotary or Lions Club) • Local Scholarships which are offered by service clubs and foundations in the Newburgh/New Windsor area

  22. Creative ways to reduce the cost of college • Earn College credit while in high school(AP & Articulation Programs) • The Montgomery GI Bill • Joining the Air National Guard entitles you to FREE SUNY tuition • Attend a Community College for the first two years

  23. School Counselors are not experts on financial aid ! • Each college has a financial aid officer with a staff who have great expertise in financial aid. • You should not hesitate to contact the financial aid office at a college or University in order to have your questions answered

  24. Check our Website for more http://www.newburghschools.org

  25. If you have any questions, we’ll be here to help you ! NFA Department of Counseling & Guidance

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