Basics of Financial Aid and the FAFSA Paying for College February 4, 2015.

Basics of Financial Aid and the FAFSA

Paying for College

February 4, 2015

We will answer:

What is financial aid?

What are the basic eligibility requirements?

How do I apply?

Where can I get more info?

Handouts - Resources

DO YOU NEED MONEY FOR COLLEGE?

Federal Student Aid at a Glance 2015-16

English-Do You Need Money for College 2015-16

Spanish-Do You Need Money for College 2015-16

COLLEGE PREPARATION CHECKLIST (booklet)

English-College Preparation Checklist

Spanish-College Preparation Checklist

Money from a source other than the family to assist with the cost of attending college or career school.

What is Financial Aid?

Paying for College Combination of resources

Family

Federal Government

States

Colleges

Private sources

Types of Financial Aid

Scholarships - gifts and awards based on:

• academic merit and other achievements• interests and career plans• ethnicity, family background• and/or financial need, etc.

Grants - money awarded based on need

Both are considered “free” money and do not have to be paid back.

Types of Financial Aid

Loans

borrowed money based on need and credit worthiness; must be paid back

Work-Study

part-time jobs for students with financial need; earn money to help pay educational expenses

What is federal student aid?

U.S. Department of Education provides more than $150 billion in grants, loans and work-study funds.

Overview of Financial Aid

Who can get federal student aid?

Basic Eligibility Criteria

U.S. citizen or permanent resident High school graduate

Eligible degree or certificate program

Valid Social Security number

What is the FAFSA?

Free Application for Federal Student Aid

A standard form that collects demographic and financial information about the student and family.

It is used to determine financial need.

Use it to apply for federal and state student grants, work-study, and loans.

http://youtu.be/c-23SMf5DyQ

How do I apply for federal student aid?

How to Fill Out the FAFSA

STEP 1

Get a PIN at www.pin.ed.gov

Username Password Sign FAFSA electronically May be used by students and parents

throughout aid process, including subsequent school years

STEP 2

Gather the documents you need to apply.

What do I need to have before filling out the FAFSA?

Optional: Use FAFSA on the Web Worksheet to prepare your answers. Get the Worksheet

2015-16 FAFSA Web Worksheet

STEP 3

Fill out your FAFSA at www.fafsa.gov.

Apply on or after January 1 but as early as possible to meet all deadlines.

Need help? Use the help functions within the FAFSA (including live chat) or call 1-800-4-FED-AID.

Don’t forget: watch for the confirmation page that says your FAFSA has been submitted. THEN log out.

STEP 4

Watch for response by e-mail or by mail.

Double-check that your info is correct by logging on at the FAFSA site and reviewing your data.

Correct any mistakes and submit the corrected information.

Meet all deadlines or you could miss out on aid!

In general, depends on your financial need.

For early estimate,

use FAFSA4caster:

• Go to www.fafsa4caster.ed.gov • Enter some financial information• Get an estimate

How much federal student aid can I get?

What happens next?

Each school will tell you how much aid you can get at that school.

Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.

What happens next?

After the FAFSA: What Happens Next

Where can I get more info about federal financial aid?

StudentAid.gov• Info about aid programs• Links to free scholarship and college searches

• 1-800-4-FED-AID• Info about aid programs• Help with FAFSA

Find the Federal Student Aid Information You Need

How can I get other kinds of financial aid?

DO YOUR RESEARCH!

States, colleges, and private scholarships have their own eligibility criteria.

Be sure you know what you need to do to qualify.

Find and apply for as many scholarships as you can! Start researching early and meet deadlines.

Avoid Financial Aid Scams

Organizations that offer to locate more aid and then charge you a fee

Anyone who charges you a fee: for information about financial aid to complete the FAFSA to apply/receive a scholarship

Organizations that guarantee you will get a scholarship or aid

Klein ISD E-Scholarships USA

Go to web page www.collegeguidanceconsultants.com

Enter User Name & Password(Contact the counseling office)

List sorted by due date Search for specific types Titles directly link to scholarship site

College for All Texans http://www.collegefortexans.com/

Apply Texas applytexas.org is a one-stop shop for applying to a public university or community college in Texas

Compare Texas Colleges comparecollegetx.com Every Chance Every Texan

http://www.everychanceeverytexan.org/funding/

Scholarships & Financial Aid Information

Online Resources: Texas

www.finaid.org

www.studentaid.gov

www.fastweb.com

www.mappingyourfuture.org

www.collegeboard.org

www.salliemae.org

www.nasfaa.org

Information on the web

FINANCIAL AID TV

Everything you need to know about financial aid provided in short, easy to understand videos.

Provided by St. Thomas University, Houston

  http://stthom.financialaidtv.com/

Upcoming EventsHouston National College Fair

February 12, 6-8 pm

NRG Center

Parents and students can meet one-on-one with representatives from colleges and universities to discuss admission and financial aid opportunities at their respective institutions.

 • Check with the counseling office to learn

about college preparation and planning events.

Thank you for your participation!