Download to read offline
More Related Content
Similar to How to finance college
How to finance college
- 1. How to FinanceCollege Salem CyberSpace College Success Program
- 2. Scholarships Money Givenfor College based on an affiliation, academic or special interest achievement. You do not have to pay back. Providers are companies, professional groups, ethnic associations, publications, community organizations, private donors. Normal Requirements 2.5 or 3.0 Grade point Average or Special Skills in another area Community Service Special Interests Leadership roles
- 3. National Scholarships Local Scholarships 1. Hispanic College Fund (Feb 16 th ) 1. City Board of Commissioners of Trust Funds 2. Lulac: League of United Latin American Citizens 2. Stephen Philips Memorial Scholarship (April 30) 3. Ronald McDonald Charities (HACER) 3. Christian Herter Memorial Scholarship (March 1) 4. Bill Gates Millennium Scholars (Jan 10 th ) 4. NSCC Presidential Scholars Program (after 9 credits are earned) 5. La Unidad Latina 5. State School Alumni Association Award (April) 6. Best Buy (2.5 GPA) 6. Rotary Club 7. Yawkey Scholar Program (Feb 15 th ) 7. The Robert P. Buck Alexander DMD Merit Scholarship 8. MALDEF: Mexican American Legal Defense Fund (2.5 GPA) 8. High School Booklets/ Local Banks
- 4. Grants Money awardedto attend College because you meet a specific financial need or belong to a special group. You may be granted the money without all the competitive achievements. You may have to commit to certain guidelines throughout your receipt of this fund. This is money you will not have to pay back. Pell Grant
- 5. Preparing for the2011-2012 FAFSA Student Information (spousal information required if married) Social Security card Driver’s license Alien registration or permanent resident card (if not U.S. citizen) 2010 W-2 form(s) 2010 federal income tax return(s) 2010 untaxed income records Current financial statements FSA PIN for FOTW Parent Information (for dependent students) Social Security card(s) 2010 W-2 form(s) 2010 federal income tax return(s) 2010 untaxed income records Current financial statements FSA PIN for FOTW FAFSA on the Web Worksheet can help too.
- 6. After your FAFSAApplication is Processed You will receive your SAR after your FAFSA is submitted—via e-mail within 3 –5 days with a valid e-mail address or via postal mail within 7–10 days if no valid e-mail address. Double-check your SAR for accuracy and submit corrections. SAR provides you with your EFC, which is the contribution that the school believes you (and your parents, if you are a dependent student) can make toward your education. The school uses your EFC to calculate the amount of federal student aid you are eligible to receive.
- 7. Types of FederalStudent Loans Perkins loan School awards students with demonstrated need. Funded through the school from a limited pool of money. Stafford loan (subsidized and unsubsidized) Previously funded through lenders or the U.S. Department of Education (ED), but as of July 1, 2010, only funded through ED. Subsidized Stafford loans are need based; unsubsidized Stafford loans are not need based. PLUS loan Previously funded through lenders or ED, but as of July 1, 2010, only funded through ED. PLUS loans are not need based.
Editor's Notes
- #6 In preparation for completing your 2011-2012 FAFSA, it’s a good idea to collect the documentation you might need to reference during the application. Students, you will need your Social Security card, your driver’s license (if you have one), alien registration or permanent resident card (if you’re not a U.S. citizen), a copy of your 2010 W-2 form, a copy of your 2010 federal income tax return, record of any 2010 untaxed income, current financial statements and your FSA PIN (if you plan to complete the application online). If you are a dependent student, you will also need to have access to that same information for your parents. If you plan to complete the FAFSA on the Web, the FAFSA on the Web Worksheet is a great resource to prepare you for the application. The worksheet includes a preview of some of the questions that be asked on the application as well as the application deadlines by state.
- #7 After you submit your FAFSA, you will receive your Student Aid Report (or SAR). If you provided a valid email address in your application, an email with instructions on how to access an online copy of your SAR will be sent to you within 3 to 5 days. If you did not provide a valid email address, your SAR will be mailed to you within 7 to 10 days. If your FAFSA is complete, your SAR will provide you with your expected family contribution (or EFC). Your EFC is the contribution that the U.S. Department of Education determines you (and your parents, if you are a dependent student) can make toward your education expenses. It is not necessarily the amount of money you and your family will have to pay each year. You should double-check your SAR for accuracy. You can submit corrections by following the instructions provided.
- #8 Types of federal loans: • Perkins—School awards Perkins loans from a limited pool of funds under certain guidelines defined by the U.S. Department of Education (ED). • Stafford (Subsidized and Unsubsidized)—Previously funded through lenders or ED, Stafford loans are only funded through ED going forward. Yearly maximums for borrowing increase each year. • PLUS (Parent and Grad)—Previously funded through lenders or ED, PLUS loans are only funded through ED going forward. These loans are credit based.