Financial Aid Westmont High School Guidance Department Fall 2013.

Financial Aid Westmont High School

Guidance Department

Fall 2013

What is Financial Aid?Financial Aid Myths

Application Process

Calculating Eligibility

Awarding and Packaging

What Next?

Agenda

What is Financial Aid?

Financial Aid is any money given or loaned to help pay for education

Federal Student Aid

California State Aid

What does it pay for?

Tuition and feesRoom and boardBooks and suppliesTransportationMay also include allowance for:

Child careCosts associated with a disabilityRental or purchase of computer

FAFSA & CalGrant

Free Application for Federal Student Aid (FAFSA)

CalGrant

Cost of Attendance (COA) Expected Family Contribution (EFC)

Student’s Financial Need (eligibility)

Basic Equation of Need

Financial Aid Myths Myth #1:

You can’t afford college Myth #2:

You have to be very poor, very smart or very talented to qualify

Myth #3: You can get more scholarships by paying someone

to search for you Myth #4:

If you pay for college, your parents’ salaries don’t matter

Myth #5: You can wait until you get accepted to a college

before worrying about financial aid

Types of Financial Aid

Need-BasedBased on family’s financial situation

Non Need-Based (Scholarships/Loans)Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.

Types of Financial Aid

Gift Aid•Grants

•Federal Pell Grants•Cal Grants

•Scholarships

Self Help•Work Study•Loans

Types of Financial Aid – GIFT Federal Pell Grant

First source of aid

Undergraduate students only

Amount based onCost of Attendance (COA)Expected Family Contribution (EFC)Enrollment status

2013-2014 maximum = $5,550

Types of Financial Aid – GIFT Cal Grants

Cal Grant A

For students with a Grade Point Average (GPA) of at least 3.0, family income

and assets below the state ceilings, and who demonstrate financial need

Cal Grant B

For students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need

Cal Grant C

For students from low income families pursuing occupational, technical, and

vocational programs of study

Types of Financial Aid – GIFT College Grants Community College

Board of Governor’s Fee Waiver (BOG)Waives enrollment fees, FAFSA may be required

CSU State University Grant (SUG)

Amounts vary, FAFSA is required

UC GrantUse federal formula to award grants.

Independent College GrantsAmounts and application process vary

Creating a “WebGrants 4 Students” Account

Students create a WGS account with a submitted GPA to the Commission.

To establish a WGS account, go to www.webgrants4students.org and follow the instructions!

Types of Financial Aid – SELF-HELP Federal Work Study

Campus-based aid

Must be earned through work Job may be on or off campus

May have annual maximumfunding levels vary at each institution

Need-based

Types of Financial Aid – SELF-HELP Loans

Subsidized- Need based Interest paid by government

Unsubsidized- Not need based Student pays interest

PLUS - Not need based Borrowed by parent

Perkins - Need based 0% interest while in school

Step 1: Filing the FAFSA

Apply For A PIN

Students need a PIN. Parents need a PIN too.

PIN is student’s and parent’s signature.

The PIN Application Process consists of 3 steps:Step 1: Enter Personal InformationStep 2: Submit Your PIN Application Step 3: Receive Your PIN – KEEP IT PRIVATE!

www.pin.ed.gov

Information Needed to Register for a PIN

Social Security NumberLast name, First name, Middle initialDate of BirthAddressE-mail

File a FAFSA online

1-800-4-FED-AID(1-800-433-3243)

Step 2: Apply Online

www.fafsa.ed.gov

The 2012-13 deadline

for FAFSA and GPA submission is Thursday, March 2, 2013

Many private schools have an earlier deadline such as

Febraury 1st, 2013 – check each campuses deadline.

What’s the deadline?

What is a name?

Must use legal name as it appears on social security card

Kimberly

Vicky Victoria

Kim

FAFSA Questions

What does the FAFSA ask about?General Student Information

Student income and Tax Information IRS Data RetrievalAvailable February 1st, 2013 Opt to “Transfer My Tax Information into the FAFSA” Can file FAFSA earlier (using estimated info.)Allow 2 weeks if taxes e-filed; 8 weeks if taxes done

on paperCan file FAFSA earlier (using estimated info.)

Who is eligible for financial aid?

U.S. Citizen, Eligible non-citizen, or Neither

Must have a Social Security Number to continue online application 800.772.1213 or www.ssa.gov

Matched with name and date of birth registered with SSA

Citizen or non-citizen?Eligible non-citizen

If you’re not in one of these categories, you must be an eligible noncitizen, and you must have an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:

"Asylum Granted“ "Refugee" "Cuban-Haitian Entrant, Status Pending" "Conditional Entrant” Victims of human trafficking, T-visa

Selective Service/ Inactive Draft

Males between 18 and 25 must register Check “Yes” and you will be automatically

registered Not yet 18, check yes and SSS will register

you on birth date May also register using Web site

www.sss.gov

Degree/Grade Level

Student’s Grade Level Check “1st year/never attended college before”,

whether or not a concurrent enrollment student

Degree Check “1st bachelor’s degree”

Student’s expected enrollment status Always check “full time” Does not commit you to attending full time

Parents’ Household Size

Include student and parents

Siblings/ other people (regardless of age) If they live with parents and provide 50% or more of

their financial support from July 1, 2011- June 30, 2013

Questions?

Financial Aid Night

at West Valley College Theater

Thursday, January 24th

6:30 – 8:00 PM

Free parking night of the event

Your To-Do List Complete GPA Release Form and return to the

Guidance office by Feb.25th.

Complete the FAFSA online beginning January 1st

Student and parent use PIN to sign Read and save confirmation page

Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 24th at 6:30

Watch for your Student Aid Report (SAR) and California Aid Report (CAR)

Thank you

Apply!