KnowHow2Go Financial Aid Night © 2007 Hispanic Scholarship Fund WELCOME TO FINANCIAL AID NIGHT.

KnowHow2GoKnowHow2GoFinancial Aid NightFinancial Aid Night

© 2007 Hispanic Scholarship Fund© 2007 Hispanic Scholarship Fund

WELCOME TOFINANCIAL AID NIGHT

Cost of Attendance

Tuition and Fees

Books, Supplies, and Equipment

Room and Board

Transportation

Miscellaneous Personal Expenses

What is Financial Aid?

Financial Aid is any source of financial support given to a student pursuing higher education.

Must be making progress toward a degree, certificate or credential

Must be U.S. citizen or eligible non-citizen

Must have valid Social Security #

Males registered w/ Selective Service

General Eligibility Requirements

AB 540 – In State TuitionAB 540 – In State Tuition Under state law approved in 2001, the

University of California, California State University, and the California Community Colleges systems can consider unauthorized alien for in-state tuition if:

1. they attend a California high school for at least three years,

2. graduate from a California high school or equivalent (GED), and

3. sign an affidavit pledging to apply for permanent residency as soon as they are eligible.

Students who are NOT U.S. Citizens, Permanent Residents or eligible residents should apply for scholarships.

These students are NOT eligible for government aid but they ARE ELIGIBLE to attend a college and university.

www.maldef.orgwww.latinocollegedollars.org

Types of Financial Aid

GrantsGrants

ScholarshipsScholarships

Work-StudyWork-Study

Education LoansEducation Loans

© 2007 Hispanic Scholarship Fund© 2007 Hispanic Scholarship Fund

Federal Pell Grant Based on financial need. Awards range $400-$4,500FSEOG Limited awards available Awards range $100-$4000Cal Grants (A, B, C) Awarded to CA residents, based on GPA and financial need University Grants

Federal & State GRANTS = FREE $$$$$

S C H O L A R S H I P S Merit Based Awarded for academic excellenceAthleticsEthnic & MinorityCorporate ScholarshipsPrivate Scholarships

SCHOLARSHIP SEARCH:www.fastweb.com www.maldef.orgwww.latinocollegedollars.org www.hsf.net

www.collegecampaign.org www.scholarships.com

Work Study

Based on financial need

Provides you with a job on or near campus

Helps pay educational expenses

Flexible schedule

FEDERAL LOAN PROGRAMS

Loans must be paid back!

Perkins Loan Need based loan

Subsidized Stafford Need based loan, Dept. of Ed. pays interest while student in school

Unsubsidized Stafford Borrower pays interest

PLUS- Parent Loan

How to ApplySubmit the FAFSA as soon as possible after January 1st (of senior year & after)

Priority deadline is March 2nd

Review the Student Aid Report (SAR)

Submit changes to SAR

www.fafsa.ed.gov www.fafsa.ed.gov www.pin.ed.govwww.pin.ed.gov

Sample Sample Financial Financial Aid PackageAid Package State Private

Pell Grant $1,000 $1,000State Scholarship $3,000 $3,000Institutional Grant $1,975 $9,750Loan-Stafford $2,625 $2,625Institutional Scholarships $1,000 $8,000 Work-Study $2,000 $2,000

Total Aid $11,600 $26,375

Total Cost $15,000 $30,000-Total Aid $11,600 $26,375Net Cost (EFC + Remainder) $ 3,400 $ 3,625

Review & QuestionsReview & Questions What is FAFSA?What is FAFSA?

What is a Grant?What is a Grant?

How do you get a scholarship?How do you get a scholarship?

What is the priority deadline for FAFSA?What is the priority deadline for FAFSA?

How can parents help their students apply How can parents help their students apply for FAFSA?for FAFSA?

Next steps…. Student & Parent obtain PINs

Gather financial documents 2008 Tax Forms2008 & 2009 W-2 formsDecember 2009 pay stub

Complete FAFSA worksheet

Attend Late Nights at the high school for assistance with FAFSA

Submit FAFSA before March 2nd