Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (20)
Similar to Financial Aid Boot Camp Guide
Similar to Financial Aid Boot Camp Guide (20)
Recently uploaded
Recently uploaded (20)
Financial Aid Boot Camp Guide
- 1. Financial Aid Boot Camp
- 2. Agenda College Costs Financial Aid Equation Types of Financial Aid – grants, scholarships, work-study & loans The Application process (FAFSA and GPA Verification Form) Summary
- 3. The Financial Aid Equation Cost of Attendance - Expected Family Contribution (EFC) = Financial Need or eligibility for financial aid
- 4. Estimated Cost of Attendance Community Colleges $8,750 - $19,038 California State (CSU) $11,561 - $24,732 University of CA (UC) $22,837 - $34,220 Out of State Public Univ. $15,672 - $37,953 Trade Schools $14,149 - $35,749 Private Colleges $29,197 - $68,889
- 5. Cost of Attendance 2013 - 2014 Community College CSU UC Private Independent Tuition and Fees $802 - $1,084 $5,701 - $6,920 $13,070 - $14,832 $17,231 - $46,691 Room and Board $7,000 - $12,000 $7,000 - $12,000 $7,000 - $14,000 $7,000 - $14,000 Books and Supplies $1,746 $1,746 $1,746 $1,746 Transportation $1,364 $1,364 $1,364 $1,364 Personal Expenses $3,288 $3,288 $3,288 $3,288 Total Expenses $8,750 - $19,038 $11,561 - $24,732 $22,837 - $34,850 $29,197 – $68,889
- 6. Factors that Influence Family Contribution Parents Income Savings Assets Age Number in College Family Size Student Income Savings Assets Independent/ Dependent
- 7. The Financial Aid Equation Cost of Attendance - Expected Family Contribution (EFC) = Financial Need or eligibility for financial aid
- 8. Financial Aid Sources 2013-2014 Academic Year Source – The College Board (www.collegeboard.com)
- 9. Types of Financial Aid Gift Grants (based on need) Scholarships (based on merit/talent) “Free Money”
- 10. Needs-Based Grants Middle Class Scholarship Federal Pell Grants Federal Supplemental Educational Opportunity Grant (PSEOG) Chaffee College Grants Community College Fee Waiver (BOG) CSU State Univ. Grant (SUG) UC Grant Independent college grants
- 11. Needs-Based Grants Cal Grant A - 3.0 GPA & Financial Need Cal Grant B- 2.0 GPA & Financial Need Cal Grant C - Vocational schools FAFSA is used to determine need Requires extra form: GPA Verification Form Student GPA + Need = Cal Grant eligibility Submit by March 2 to the CA Student Aid Commission
- 12. Cal Grants Tuition based grant to be used ONLY in CA. Cal Grant A CSU $5,472 UC $12,192 Private $9,084 Tech/Trade/Voc. Up to $4,000 Many California Colleges “match” Cal Grants Cal Grants help many students afford private school educations
- 14. Merit-Based Aid Measure of quality Academic Athletic Artistic Family Resources not a factor Award levels based on sponsors’ goals and funding levels No appeal process May not be renewable
- 15. Scholarships Available from colleges, companies, community-based groups and other organizations Usually requires separate application May require transcript, essay, interview, audition or recommendation Career Center
- 17. Types of Financial Aid Self-Help Student Loans Work Study “Money You Pay Back”
- 18. Educational Loans Federal Perkins Loan Federal Stafford Loan Federal Parent Loan for Undergraduate Students (PLUS) Private or Institutional Loans for students and parents
- 19. Work-Study Part-time job on or off campus Possibly related to their studies, career plans or in community service Earn at least the federal minimum wage Studies show most students who work in campus-sponsored jobs earn as good or better grades than non-working students and are more likely to graduate in 4 years
- 20. Financial Aid Forms FAFSA (Free Application for Federal Student Aid) California Dream Act CAL Grant GPA Verification Form (For CA Residents Only) Last year’s IRS Federal Tax Returns (including schedules & W2 forms) or Non-Filing Forms
- 21. AB540 – California Law Students without legal immigration status Undocumented students May have lived in the US for a long time May have been brought here as children Might have entered the US with a temporary VISA and chosen to stay May have no immigration papers at all Come from many different countries
- 22. AB540 Eligibility Any student who: Attended a California high school for at least three years (public, private or home school) Graduated (or received the equivalent) from a California high school and Swears to apply for legal immigration status (if undocumented) whenever that is possible.
- 23. AB540 Benefits and Rights Allows certain students to pay only in state fees at UC, CSU and CA Community Colleges Cannot be denied admission based on immigration status Are not required to show an ID or Social Security Card for admission and Are not required to show proof of legal residency or prove CA residency for admission Does NOT make these students legal residents of the state
- 24. CA Dream Act Allows students who meet AB540 criteria to receive Cal Grants and Scholarships Signed into law September 2011 Must meet all other Cal Grant requirements Online application to gather FAFSA like information
- 26. Eligible Noncitizen A permanent US resident with a Permanent Resident Card (I-551) A conditional Permanent Resident (I-551C) The holder of an Arrival Departure Record (I-94) from Homeland Security showing: “Refugee, Asylum Granted, Parolee, Victim of Human Trafficking, T-Visa Holder or Cuban- Haitian Entrant”
- 28. Special Circumstances Contact the Financial Aid Office of the college if there is a change in your family circumstances such as: A loss or reduction in parent or student income or assets A death or serious illness of a family member Unusual family medical or dental expenses not covered by insurance Reduction in child support, social security or other non-taxable income or benefits Financial responsibility for elderly grandparents Any other unusual circumstances that affect your family’s ability to pay for higher education
- 29. Summary Follow college deadlines Submit all required applications and forms FAFSA by March 2 Cal Grant GPA Verification by March 2 CSS/Financial Aid Profile Test Scores, Transcripts and letter of rec. Keep copy of all forms Respond to all requests for additional documents Check email regularly
- 30. The Power of Education The only thing more expensive than going to college is not going to college
- 31. Thank You For Coming! Good Luck with Your College Planning!