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

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  • 1. Financial Aid Doesn’t Have To Be Scary!!! Kathy Leaver and Kim Bailey Shelby County Gifted Resource College Advisors
  • 2. What is Financial Aid?
    • Scholarships
      • Merit Based
        • Academic
        • Leadership
        • Service
        • Departmental
        • Talent/Skill
      • Need Based
      • Institutional
      • Private
      • Athletic (register with www.NCAAclearinghouse.net)
  • 3. 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)
  • 4. 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.
  • 5. 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
  • 6. Definition of Need
    • Cost of Attendance (COA)
    • - Expected Family Contibution (EFC)
    • ________________________________________________
    • = Financial Need
  • 7. How much will you need?
  • 8. 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
  • 9. 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
  • 10. 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
  • 11. 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
  • 12. 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
  • 13. Other Sources of Funds and Financing
    • Resident Assistant Benefits
    • PACT
    • 529 Plans
    • University Payment Plans
  • 14. 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
  • 15.  

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