financial aid night2013 hinsdale south guidance department
Post on 21-Dec-2015
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Financial Aid Night2013Hinsdale South Guidance Department
Review Planning Phase
• Assess Affordability based on reasonable borrowing
• Match that up with approximate net prices of colleges
• Create financial fits
Execution Phase
• Organize self financially
• What information is needed
• How will this information be viewed
Variables that Drive the EFC
• Parent’s Income• Student’s Income• Parent’s Assets• Student’s Assets
Filing the FAFSA
• January 1st, 2014
• Updating your Student Aid Report
• Signing the document with PINS
The CSS Profile
• How is the Profile Different?
• When is the Profile filed?
Divorced Households
• FAFSA rules
• Profile exceptions
Independent Students
• Ward of court• Homeless• 24 or older• Graduate / not undergrad• Military
FAFSA key numbers
• EFC leading to Pell Grant
• EFC leading to MAP
• EFC leading to College Grant
• Filing leading to loans and work
Direct Student Loan (stafford)
• Subsidized
• Unsubsidized
• Promissory note and loan counseling
Campus Employment
• Federal Work Study
• Part time jobs
• Student has to be the aggressor
Appeal Process
• When can you appeal?
• How do you appeal?
Analyze Award Letters
• Merit money (scholarships)
• Need based college grant money
• Federal and/or state grant money
• Student loan (automatic)
• Campus employment (available when student takes active role)
• Final College Decision – May 1
The Conversation
• Not negotiating
• Demonstrate systematic review of affordability
• Only proceed if number one choice is close
Independent Scholarship
• Senior checklist
• Regional options via website
• Fastweb.com for national data base
Parent Loan options
• PLUS
• Equity of home
• Private Student Loan
• 401k (403b) loan
• College acts as a bank