Successfully reported this slideshow.
Isabelle Mora
Director of Financial Aid
Saint Martin’s University
Tracy Hall
Director of Financial Aid
The Evergreen State...
Whatyouwilllearntoday…
Applying for Financial Aid
Types of Financial Aid
Understanding College Costs
Additional Resources
ApplyingforFinancialAid
Step 1:
Complete the Free Application for Federal
Student Aid (FAFSA)
• Application available onli...
StepsforApplyingforAid
After you complete the FAFSA
application and you have been formally
admitted to the school of your ...
WhatisaMasterPromissoryNote&WhydoIhavetodo
EntranceCounseling?
In order to accept your student loans, you will
need to com...
TypesofFinancialAid
• Institutional Scholarships/Awards
• Federal and State Grants
• Work-Study
• Stafford Loans (Student’...
Self-Help vs. Gift Aid
*GiftAid = Money that does not have to be re-paid*
TotalCostofAttendance
Your financial aid eligibility is
determined by using information from
the FAFSA application and the...
How much Gift Aid am I eligible for?
NetPriceCalculator
•All Universities/Colleges are
required to have a Net Price
Calculator (NPC).
•The NPC is an estimation...
NextSteps:
1. Complete your Admissions
Application
2. Submit your FAFSA by the
priority deadline for your school
(can vary...
AdditionalResources
• Scholarship Search Engines:
FastWeb Scholarship Search
www.fastweb.com
College Board Scholarship Sea...
Sound Sound - Parent info night presentation
Sound Sound - Parent info night presentation
Sound Sound - Parent info night presentation
Sound Sound - Parent info night presentation
Sound Sound - Parent info night presentation
Upcoming SlideShare
Loading in …5
×

Sound Sound - Parent info night presentation

254 views

Published on

Basic overview of the financial aid process, different types of financial aid, and additional resources to help you get started.

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

Sound Sound - Parent info night presentation

  1. 1. Isabelle Mora Director of Financial Aid Saint Martin’s University Tracy Hall Director of Financial Aid The Evergreen State College Kerri Chaput Director of Student Grants & Scholarships South Puget Sound Community College
  2. 2. Whatyouwilllearntoday… Applying for Financial Aid Types of Financial Aid Understanding College Costs Additional Resources
  3. 3. ApplyingforFinancialAid Step 1: Complete the Free Application for Federal Student Aid (FAFSA) • Application available online at: www.fafsa.ed.gov • Apply for a Personal Identification Number (PIN) online at www.pin.ed.gov • Submit your application before the priority deadline for the school for which you are applying. • Submitting your application by the priority deadline increases your chances of being awarded funds that are limited.
  4. 4. StepsforApplyingforAid After you complete the FAFSA application and you have been formally admitted to the school of your choice: • Stay in contact with your school • Alert them if you have any financial special circumstances that they should be aware of: • Marriage/Divorce • Job loss • New family member • Another sibling in college or private school • Bankruptcy • Etc. • Don’t be afraid to ask questions about your award letter, we are always happy to help! Submit the FAFSA Award Letter Received Additional documentation needed? Complete MPN & Entrance Loan Counseling Accepted into University
  5. 5. WhatisaMasterPromissoryNote&WhydoIhavetodo EntranceCounseling? In order to accept your student loans, you will need to complete both an MPN and Entrance Loan Counseling. Master Promissory Note • The MPN is a non-loan specific contract that you are signing saying you agree to pay back your loan. Also includes: • Borrower Rights/Responsibilities • Reference information for you the borrower • Need 3 references to complete • If you borrow a loan within the year of completing your MPN, your MPN is good for 10 years. • You will need your PIN number to sign it Entrance Loan Counseling • Tool to inform borrowers of their rights and responsibilities • ProvidesTerms and Conditions of the loan: • Interest Rates • Repayment Options • Etc
  6. 6. TypesofFinancialAid • Institutional Scholarships/Awards • Federal and State Grants • Work-Study • Stafford Loans (Student’s Loan)  Subsidized Stafford Loans • No interest accrues while student is enrolled • 3.86% Interest  Unsubsidized Stafford Loans • Interest accrues when the loan money is given to the student • 3.86% Interest • Federal Perkins Loan (Student’s Loan) • No interest accrues while student is enrolled • 5% interest rate • Plus Loans /Private Loans (Parent’s Loan) • Plus Loans (6.41% • Interest accrues when the loan is disbursed • First payment is due 90 days after the first disbursement • Alternative Loans • Variable Interest Rates Financial Aid Loans -Federal -Private Scholarships Grants Institutional Scholarships
  7. 7. Self-Help vs. Gift Aid *GiftAid = Money that does not have to be re-paid*
  8. 8. TotalCostofAttendance Your financial aid eligibility is determined by using information from the FAFSA application and theTotal Cost of Attendance (TCA) from your school. • TheTCA is all the costs that you could encounter while enrolled for the school year. • TheTCA will vary based on: • Individual Institution • Student’s Enrollment • SpecialCircumstances • Your financial aid can not be more than your total cost of attendance (loans included). Tuition Mandatory Fees Room and board Books & Supplies Transportation Miscellaneous Loan Fees
  9. 9. How much Gift Aid am I eligible for?
  10. 10. NetPriceCalculator •All Universities/Colleges are required to have a Net Price Calculator (NPC). •The NPC is an estimation of what your expected costs will be for attending that particular school. •Where to find the NPC? • On the schools website • www.nces.ed.gov/collegen avigator/
  11. 11. NextSteps: 1. Complete your Admissions Application 2. Submit your FAFSA by the priority deadline for your school (can vary with schools) 3. Apply for Scholarships 4. Contact your School’s Financial Aid Office if you have any questions
  12. 12. AdditionalResources • Scholarship Search Engines: FastWeb Scholarship Search www.fastweb.com College Board Scholarship Search www.collegeboard.com/paying CollegeNet www.collegenet.com Lunch Money.com www.lunchmoney.com  Federal Student Aid Information:  Studentloans.gov  Studentaid.ed.gov

×