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Financial aid-doesnt-have-to-be-scary

Financial aid-doesnt-have-to-be-scary



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    Financial aid-doesnt-have-to-be-scary Financial aid-doesnt-have-to-be-scary Presentation Transcript

    • Financial Aid Doesn’t Have To Be Scary!!! Kathy Leaver and Kim Bailey Shelby County Gifted Resource College Advisors
    • What is Financial Aid?
      • Scholarships
        • Merit Based
          • Academic
          • Leadership
          • Service
          • Departmental
          • Talent/Skill
        • Need Based
        • Institutional
        • Private
        • Athletic (register with www.NCAAclearinghouse.net)
    • What is Financial Aid?
      • Grants
        • Federal
        • State
      • Employment Opportunities
        • Work Study
        • Summer Internships
      • Loans
        • Stafford Loans
        • Perkins Loans
        • PLUS Parent Loan
        • Other
        • (Federal and state aid along with many university aid and grants are awarded by completing the Free Application for Federal Student Aid at www.fafsa.ed.gov)
    • Goals of Financial Aid
      • To assist students in paying for their educational investment
      • To evaluate the family’s financial ability to pay educational costs
      • To distribute limited resources in a fair manner
      • To attempt to provide a balance of scholarships, loans, grants, work study, etc.
    • Cost of Attendance (COA)
      • Tuition and fees
      • Housing
      • Meal plan and additional food and snacks
      • Books and supplies
      • Entertainment
      • Transportation
      • Miscellaneous personal expenses
      • Study abroad costs
    • Definition of Need
      • Cost of Attendance (COA)
      • - Expected Family Contibution (EFC)
      • ________________________________________________
      • = Financial Need
    • How much will you need?
    • Why do I have to pay so much?
      • As much as they are able, parents have a responsibility to pay for their children’s education
      • Students also have a responsibility to pay for educational costs
      • Family’s are evaluated in their present financial condition
    • How do I qualify?
      • CSS Profile
        • www.collegeboard.com
        • register now
      • FAFSA (Free Application for Federal Student Aid)
        • www.fafsa.ed.gov
        • register after January 1st
    • Eligibility
      • Accepted to an eligible program of study
      • Must be planning to enroll as a full time student
      • US Citizen or eligible non-citizen
      • Males must be registered with selective service
      • Must not have a drug-related conviction
      • Must have a valid social security number
      • Must maintain satisfactory academic progress as determined by the higher ed. institution
    • Role of the Financial Aid Office
      • Determine eligibility after receiving information from FAFSA or CSS Profile
      • Create an aid package
      • Send award letter to student that includes
        • COA
        • Student Need
        • Types and Amount of Aid Offered
        • How and When Aid Will Be Dispersed
        • Student Employment Conditions
        • Terms and Conditions of Aid Offer
    • Role of the Student
      • Apply to college
      • Talk to your parents about your resources
      • Contact financial aid offices at your schools
      • Complete the FAFSA and/or CSS Profile
      • Review financial aid award letter
      • Compare school offers
      • Talk to your parents ( AGAIN ) about offers
      • Accept or reject offers and return paperwork to schools
      • Notify all colleges of your decisions by May 1st
    • Other Sources of Funds and Financing
      • Resident Assistant Benefits
      • PACT
      • 529 Plans
      • University Payment Plans
    • Other Resources
      • www.fastweb.com
      • www.scholarships.com
      • www.scholarshiptree.com
      • www.finaid.org
      • www.studentaid.state.al.us
      • www.students.gov
      • www.alstudentaid.com
      • www.smartmoney.com
      • Student/Parent place of employment
      • Local business and civic organizations