1. Financial Aid 101

2. Who Are We? Financial aid Grants/scholarships Work-study Informational services Publications MyKHEAA account Outreach counselors Savings Programs Kentucky Education Savings Plan Trust KHEAA’s mission is to provide resources to make higher education accessible to Kentucky’s current and future generations.

3. What is Financial Aid? Merit-based aid Earned through achievement and/or talent Scholarship Need-based aid (FAFSA) Determined by need analysis formula Grant Work-Study Loan Financial aid is:

4. Sources of Financial Aid Federal government State government KHEAA Institutional (college or technical school) Private

5. 5 Private Scholarships Free scholarship searches High school counselors Student and parent employers Public library Organizations to which you belong Paying for help? Beware!

6. Federal Aid Programs Federal Pell Grant Campus-based programs Federal Supplemental Educational Opportunity Grant (SEOG) Federal Work-Study (FWS)

7. KHEAA Financial Aid Programs Available to Kentucky Students Grants College Access Program (CAP) Kentucky Tuition Grant (KTG) Scholarships Kentucky Educational Excellence (KEES) Mary Jo Young Early Childhood Development Work-Study KHEAA Work-Study Program Savings (529 Plans) Kentucky Education Savings Plan Trust – www.kysaves.com

8. KEES Base GPAAmount 4.00$500 3.90475 3.80450 3.75437 3.70425 3.60400 3.50375 3.40350 3.30325 3.25312 3.20300 3.10275 3.00250 2.90225 2.80200 2.75187 2.70175 2.60150 2.50$125 ACTBonus ScoreAmount 28+$500 27464 26428 25393 24357 23321 22286 21250 20214 19179 18143 17107 1671 15$36

9. KEES AP or IB Bonus A KEES bonus award amount is also available. Student is eligible for free or reduced-price lunch during any year of high school Student makes qualifying scores on Advanced Placement (AP) or International Baccalaureate (IB) exams There is no limit to the number of bonus awards a student can receive.

10. Loan Programs William D. Ford Federal Direct Loan Program Stafford Loans (for students) Subsidized—based on financial need Unsubsidized—not based on financial need PLUS Loans (for parents or graduate students) Campus-based Programs Federal Perkins Loan Kentucky Advantage Education Loan Apply online at advantageeducationloan.com

11. The formula is: Cost of Attendance (COA) (varies from school to school) -Expected Family Contribution (EFC) (always remains the same) =Financial Need Financial Need

12. Financial Aid Electronic Application Process Required for federal, state and institutional aid. Include schools to which you have applied. Apply as soon as possible after January 1 of student’s senior year (using previous year’s income information). Obtain a PIN at pin.ed.gov FAFSA.GOV

13. What Happens Next? Student Aid Report (SAR) Electronic Hard copy Financial Aid Award Letter Accept or decline Compare Unmet need Parent PLUS Loans Alternative loans Professional Judgment Corrections may be necessary

14. Selection for Verification A percentage of all FAFSA applicants are selected for a process called verification. Application selected by federal government or by school Confirms accuracy of information reported on FAFSA Financial aid will not be disbursed until the verification process is complete.

15. Getting the Facts Personalized College Planning Tool Takes completion of the Free Application for Federal Student Aid (FAFSA) one step further by providing a personalized breakdown of college costs and anticipated financial aid. Helps families make informed decisions about their higher education options. Get your report individualized report by visiting www.KHEAA.com.

16. Interactive web portal Single point of information for students, parents, counselors and others, including: Career/college exploration Financial aid information College admissions/school evaluation tools Scholarship searches Distance and online learning Publications and newsletters MyKHEAA Access account KEES award amounts Getting the Facts ILP for private and home school students www.kheaa.com

18. We’re Here to Help!!! Candice Johnson, Louisville Metro East cjohnson@kheaa.com Gene Weis, Louisville Metro West gweis@kheaa.com “Like” us on Facebook! Follow us on Twitter!