Presentation on theme: "Financial Aid Eligibility"— Presentation transcript:
1Financial Aid Eligibility presented byCarrie A. Gilchrist, Ph.D.Oakland University
2Financial Aid Eligibility What are the 4 types of financial aid?What are the 4 sources of financial aid?Who is eligible for aid?For what types of aid are you eligible and from what sources?
3Financial Aid Eligibility Financial aid is money provided by a resource other than yourself or your parents, used to pay for college expenses. There are four types of financial aid:ScholarshipsGrantsStudent employmentStudent loans
4Financial Aid Eligibility Financial aid is money provided by a resource other than yourself or your parents, used to pay for college expenses. There are four resources for financial aid:Federal governmentState of MichiganCollege or University you attendPrivate resources like foundations, companies, or generous people!
5Financial Aid Eligibility Who is eligible to apply for aid?EVERYONE!
6Financial Aid Eligibility With a little effort on your part, you'll discover you have many options.You can get financial aid for college because you . . .Are financially qualified to receive it Earn good grades, take hard courses, have special talents or show exceptional promiseAre the first in your family to attend collegeHave talent in sportsPlan to major in specific subjectsServe/served in the military, are a veteran, or have a parent that serves/served in the militaryAre unemployedAgree to work in certain high-need locations or professions after graduationHave a special need or a disabilityAre a resident of your state ..and many other reasons!
7Financial Aid Eligibility Who is eligible to fill out a FAFSA?U.S. CitizensEligible Non-CitizenPermanent Resident cardConditional Permanent Resident cardHolder of an Arrival-Departure Record from the Department of Homeland Security with one of the following designations: Refugee, Asylum Granted, Parolee.T-Visa holder or Cuban-Haitian EntrantHolder of a valid certification or eligibility letter from the Department of Health and Human Services showing a designation of “Victim of human trafficking”If you have a social security number but are not a citizen or an eligible non-citizen, you should still complete the FAFSA because you may be eligible for state or college/university aid.
8Financial Aid Eligibility Federal GovernmentHow do you apply: Free Application for Federal Student Aid (FAFSA)Where do you get an application:Qualify for:Grants: Pell, SEOG, TEACHStudent Employment: Federal Work StudyLoans: Subsidized and UnsubsidizedHow to qualify:
9Financial Aid Eligibility State of MichiganHow do you apply: Free Application for Federal Student Aid (FAFSA) and separate applicationsWhere do you get an application: andQualify for:Grants/Scholarship:Michigan Competitive ScholarshipMichigan Tuition Grant (MTG)Tuition Incentive Program (TIP)Children of Veterans Tuition Grant (CVTG)Police Officer’s and Firefighter’s Survivor Tuition Grant (STG)GEAR UP Michigan! ScholarshipGEAR UP College Day ScholarshipDual Enrollment
10Financial Aid Eligibility How to qualify:Grants/Scholarship:Michigan Competitive ScholarshipBased on ACT Score (scaled score of at least 90 or composite score of at least 23) and financial need per the Free Application for Federal Student Aid (FAFSA).Cannot receive MTG at the same time (public school only)Michigan Tuition Grant (MTG)Based on financial need only.Available at independent non-profit institutions only.Cannot receive MCS at the same time (public school only)Tuition Incentive Program (TIP) – Separate application requiredEligible students must have or have had Medicaid coverage for 24 months within a 36 consecutive month period.Must submit application prior to high school graduation or GED and before age 20.Student must enroll within four years of high school graduation or eligibility is forfeited.Incarcerated students are not eligible to participate in TIP.
11Financial Aid Eligibility How to qualify:Grants/Scholarship:Children of Veterans Tuition Grant (CVTG) – Separate application requiredNatural or adopted child (no grandchildren or stepchildren) of a veteran who is permanently and totally disabled or deceased due to service connected causes or is listed as missing in action in a foreign country.Police Officer’s and Firefighter’s Survivor Tuition Grant (STG)Provides a grant for tuition for a child or a spouse of a deceased officer or firefighter who died as a result of work related traumatic injury.Based on financial needGEAR UP Michigan! ScholarshipGEAR UP College Day ScholarshipDual Enrollment
12Financial Aid Eligibility How to qualify:Grants/Scholarship:GEAR UP Michigan! ScholarshipMust be nominated – If your high school has a GEAR UP! program, contact MI Student Scholarships and Grants (www.michigan.gov/ssg)GEAR UP College Day ScholarshipMust be nominated – If your high school has a GEAR UP! program, contact MI Student Scholarships and Grants (ww.michigan.gov/ssg)
13Financial Aid Eligibility College or UniversityHow do you apply: Free Application for Federal Student Aid (FAFSA) and separate applicationsWhere do you get an application: and college or university websiteQualify for:Grants:Based on need – complete the FAFSAMay have an academic component as well – GPA and/or ACTScholarship:Merit based – GPA and/or ACTMay require a separate applicationHow to qualify:Achieve high GPA and ACT scoresTake a rigorous academic program in high schoolTake AP classes and/or AP testsAchieve a high GPA throughout high schoolTake the ACT multiple times
14Financial Aid Eligibility Private Sources: Foundations, Companies, and IndividualsHow do you apply: individual applications – lots!Where do you get an application: clearinghouse websites, high school guidance office, foundation and company websitesQualify for:Scholarship: a variety!How to qualify:Scholarship:Requirements vary: creativity, academic achievements, volunteering, essays, etc.