Financial AidFinancial Aid

The ticket to The ticket to

financing your financing your

educationeducation

What do I need?What do I need? Social Security Numbers of student and Social Security Numbers of student and

parent(s)parent(s) Federal Tax forms for 20Federal Tax forms for 201010 student and student and

parent or W-2 form and check stubs.parent or W-2 form and check stubs. Parents’ birth dateParents’ birth date Parent marriage or divorce dateParent marriage or divorce date Driver license numberDriver license number Email if availableEmail if available

FAFSA4casterFAFSA4caster

Access FAFSA4caster at Access FAFSA4caster at www.FederalStudentAid.ed.gov

Can instantly calculate federal student aid Can instantly calculate federal student aid eligibility. eligibility.

Estimates eligibility based on current laws and Estimates eligibility based on current laws and information that the student provides information that the student provides

Automatically generates and emails the Federal Automatically generates and emails the Federal Student Aid PINStudent Aid PIN

Pre-populates many of the question on the FAFSA, Pre-populates many of the question on the FAFSA, significantly reducing the time it takes to complete significantly reducing the time it takes to complete the FAFSAthe FAFSA

Financial Aid TypesFinancial Aid Types Grants and ScholarshipsGrants and Scholarships LoansLoans Federal Work StudyFederal Work Study

Federal FormsFederal FormsFilling out the federal Filling out the federal

financial aid form financial aid form is the only way to is the only way to qualify for grants, qualify for grants, loans, and work loans, and work study from the state study from the state and federal and federal government.government.

What Do I Get for My Effort?What Do I Get for My Effort?

If you qualify you can receive up toIf you qualify you can receive up to$$5,5005,500 –Pell Grant –Pell Grant$4,000 – SEOG Grant$4,000 – SEOG Grant$4,968 – MAP Grant$4,968 – MAP GrantSubsidized Loans (Stafford and Subsidized Loans (Stafford and Perkins)Perkins)Federal Work StudyFederal Work StudyUnsubsidized LoanUnsubsidized LoanPLUS – parent loanPLUS – parent loan

US Dept. of EducationUS Dept. of EducationFederal FinaFederal Finanncial Aid Programscial Aid Programs

Federal AcadFederal Acadeemic Competitiveness Grantmic Competitiveness Grant – –Up to $750 first year, $1Up to $750 first year, $13300 second year.00 second year.

Federal Science & Math Access to RetainFederal Science & Math Access to Retain Talent (SMART)-Talent (SMART)- up to $4000 3 up to $4000 3rdrd & 4 & 4thth yr. yr.

Federal TEACH GrantFederal TEACH Grant – up to $4000 – up to $4000 per year per year

U.S Department of EducationU.S Department of EducationGrantsGrants

Competitiveness Competitiveness GrantGrant

SMART GrantSMART Grant TEACH GrantTEACH Grant

Pell Grant EligiblePell Grant Eligible

US CitizenUS Citizen

US Citizen or eligible non-US Citizen or eligible non-citizen, Pell Grant eligiblecitizen, Pell Grant eligible

Pursuing a teacher Pursuing a teacher credential program at a credential program at a grant eligible institutiongrant eligible institution

Be enrolled no less thanBe enrolled no less than half time at 2 or 4 yearhalf time at 2 or 4 year collegecollege

Be enrolled in third or Be enrolled in third or fourth year of college with fourth year of college with 3.0 GPA3.0 GPA

Sign an agreement to teachSign an agreement to teach

4 years-high need subject 4 years-high need subject areaarea

Maximum AwardsMaximum Awards

$$750 First year student750 First year student

$1$13300 Second year00 Second year

Majoring in mathematics, Majoring in mathematics, science technology, science technology, engineering, critical foreign engineering, critical foreign language, comparable non language, comparable non major liberal arts programmajor liberal arts program

If agreement not met in 8 If agreement not met in 8 years money must be paid years money must be paid back with interest.back with interest.

Rigorous high school Rigorous high school coursework.coursework.

Maximum award $4000 Maximum award $4000 per year.per year.

Maximum award $4000 per Maximum award $4000 per year.year.

Filing on the WebFiling on the Web Go to Go to www.fafsa.ed.gov Fill in all the required informationFill in all the required information Do not leave any areas blank. Use “0” Do not leave any areas blank. Use “0”

for areas where no money is available.for areas where no money is available. Divorced or separated parents, use the Divorced or separated parents, use the

one live with most of the time.one live with most of the time. If remarried must include step-parent If remarried must include step-parent

incomeincome Make copies every time it says “Print Make copies every time it says “Print

Page” and filePage” and file

EFCEFC Expected Family Contribution- the Expected Family Contribution- the

amount of money you are expected to pay amount of money you are expected to pay out of pocketout of pocket

Cost of Attendance – is the total cost of Cost of Attendance – is the total cost of tuition, fees, books, room and board, tuition, fees, books, room and board, travel, etc.travel, etc.

Subtract the two and you will get your Subtract the two and you will get your financial needfinancial need

Meet My Money NeedsMeet My Money Needs

Grants and Grants and ScholarshipsScholarships

LoansLoans Work StudyWork Study Sometimes not all Sometimes not all

need is met, so you need is met, so you have to get creative have to get creative about financingabout financing..

LoansLoans Perkins Loan – Institution loan, Perkins Loan – Institution loan,

pay 9 months after leave school pay 9 months after leave school 5% interest5% interest

Subsidized Loan – need based, Subsidized Loan – need based, pay 6 months after leave school pay 6 months after leave school 6% interest6% interest

Unsubsidized – pay 6 months Unsubsidized – pay 6 months after leave school 6.8% interest.after leave school 6.8% interest.

PLUS – parent loan payments PLUS – parent loan payments start 60 days after final start 60 days after final disbursement 8.5% fixed disbursement 8.5% fixed interest.interest.

SARSAR Student Aid Report will arrive by email or snail Student Aid Report will arrive by email or snail

mail. This report will include information about mail. This report will include information about your financial need and all the information you your financial need and all the information you filled in the FAFSA. If you see a mistake, correct filled in the FAFSA. If you see a mistake, correct it and refile ASAP. Call the financial aid office of it and refile ASAP. Call the financial aid office of the college you want to attend to see if they could the college you want to attend to see if they could correct it for you. Check the upper right hand correct it for you. Check the upper right hand corner for your EFC. If you see an * by the EFC, corner for your EFC. If you see an * by the EFC, that means you will need to supply the college that means you will need to supply the college with your tax forms for verification of income.with your tax forms for verification of income.

AWARD LETTERAWARD LETTER You will receive an award letter You will receive an award letter

from the schools you selected to from the schools you selected to send FAFSA information to.send FAFSA information to.

You will be offered a package of You will be offered a package of financial aid to meet your financial aid to meet your “Financial Need” as determined “Financial Need” as determined by the government.by the government.

You can accept or reject any part You can accept or reject any part of the award.of the award.

Sign and return ASAPSign and return ASAP

DEADLINESDEADLINES Deadlines are important in getting your Deadlines are important in getting your

fair sharefair share Financial Aid is on a first come first serve Financial Aid is on a first come first serve

basisbasis Filing by the 15th of February is highly Filing by the 15th of February is highly

recommendedrecommended If you file too late, you may qualify but If you file too late, you may qualify but

may not get any funding because all the may not get any funding because all the money has been distributed alreadymoney has been distributed already