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.
Dec 24, 2015
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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!
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