1. 1 WHAT YOU NEED TO KNOW ABOUT FINANCIAL AID

2. The Concept of Financial Aid 2  Financial aid is designed to allow families to choose between colleges based upon academic fit rather than cost.  Parents and students are the primary source of funding a college education.

3. Sources of Financial Aid 3  Federal Government  State Governments  Colleges and Universities  Private Organizations

4. Federal Loans 4  Perkins Loan: is a need-based student loan offered by the federal government to assist college students in funding their post-secondary education.  Stafford (Subsidized): is a federally guaranteed loan based on financial need for undergraduate students attending a college or university. This loan is not based on credit. Interest does not accrue on the loan while you are in school at least half time, or during any future deferment periods.  Stafford Loan (Unsubsidized): is a federally guaranteed loan based on financial need for undergraduate students attending a college or university. This loan is not based on credit. Interest DOES accrue on the loan while you are in school.  Parent Plus Loan: federal. is a federal non-need based student loan, which means you do not have to demonstrate financial need to qualify. Parents may apply for a Direct PLUS Loan to help pay their child's educational expenses. The loan servicer will perform a credit check to ensure the parent meets the federally established credit criteria.

5. Types of Financial Aid 5  Scholarships- Aid awarded based upon merit/need which the student does not need to repay  Grants- Aid awarded based upon need that the student does not need to repay  Loans- Money borrowed by the student/parent to be repaid with interest after graduation  Work-Study- Money earned by the student as payment for an on-campus job

6. Cost of Attendance 6 Your cost of attendance is the total of all expenses related to attending college for one year, which includes:  Tuition and Fees  Books and Supplies  Room and Board  Transportation  Personal Expenses

7. Factors Used to Determine your Family’s Ability to Pay 7  Number in Household  Number in College  Taxed and Untaxed Income  Taxes Paid  Assets  Age of Older Parent  Number of Wage Earners in Family

8. Who Qualifies for Financial Aid? 8  U.S. citizen or permanent resident  High school graduate/GED holder  Eligible degree/certificate program  Valid Social Security number  Males registered for Selective Service  Satisfactory academic progress

9. How you can apply for Financial Aid 9 3 Main Forms  FAFSA www.fafsa.ed.gov (Free Application for Federal Student Aid)  CSS Profile form www.collegeboard.com  Cal Grant GPA Verification Form

10. Applying for Federal Financial Aid 10  FAFSA (Free Application for Federal Student Aid)  No FEE Required  Apply for a PIN at www.pin.ed.govwww.pin.ed.gov  Students and Parents must apply separately for their unique PIN  May use one application for up to six schools  Submit after January 1, 2012  Deadline March 2, 2012  For any help, please call 1-800-4-FED-AID

11. Applying for State Financial Aid 11  Cal Grant GPA Verification Form:  Have your school counselor complete the GPA Verification Form and submit it to the California Student Aid Commission postmarked no later than March 2 nd.

12. Applying for University Financial Aid 12  Some private colleges require students to submit a different financial aid application to be considered for institutional aid: CSS PROFILE  Unlike the FAFSA, there is a fee to apply  You may file the PROFILE as early as October 1, 2011  Each individual college/university has their individual deadline  Complete application online at www.collegeboard.comwww.collegeboard.com

13. Financial Aid Prep! 13  Income Tax Form or other income documentation  FAFSA on the Web Worksheet

14. Some Helpful Financial Aid Websites 14  Scholarship Information Sites:  www.fastweb.com www.fastweb.com  www.finaid.com www.finaid.com  www.collegeboard.com www.collegeboard.com  Loan Information Site :  www.salliemae.com www.salliemae.com  Estimated Family Contribution Site:  www.collegeboard.comwww.collegeboard.com

15. Undocumented = AB540! Undocumented students can be admitted to colleges and universities regardless of their status. In order to not be responsible for out-of-state tuition, students must: – have attended a California High School for 3 or more years, – have or will graduate from a California High School or have attained a G.E.D., – have registered at or are currently enrolled at an accredited institution of higher education in California, – have filed or will file an affidavit as required by individual institutions, stating that you will apply for legal residency as soon as possible. There are many scholarships available that do not require for you to be a permanent resident or U.S. citizen. 15

16. The Dream Act  AB130  AB540 students can apply for and receive scholarships from private, non-state funds at all California public universities. These include scholarships funded through private donors, alumni contributions and individual departmental efforts. This bill will go into effect January 1, 2012.  AB131  AB540 students can apply for Cal Grant awards and for grants and scholarships awarded by California public universities. This bill will go into effect January 1, 2013 16

17. Till Then…  Visit Cal Grants or the California Student Aid Commission to find out information on the different types of grants available.Cal GrantsCalifornia Student Aid Commission  Resources: www.e4fc.org, www.maldef.org, www.dreamactivist.orgwww.e4fc.orgwww.maldef.org www.dreamactivist.org  Apply for scholarships! 17