Presentation on theme: "Basics of Financial Aid and the FAFSA Paying for College February 4, 2015."— Presentation transcript:
Basics of Financial Aid and the FAFSA Paying for College February 4, 2015
We will answer: What is financial aid? What are the basic eligibility requirements? How do I apply? Where can I get more info?
Handouts - Resources DO YOU NEED MONEY FOR COLLEGE? Federal Student Aid at a Glance 2015-16 English-Do You Need Money for College 2015-16 Spanish-Do You Need Money for College 2015-16 COLLEGE PREPARATION CHECKLIST (booklet) English-College Preparation Checklist Spanish-College Preparation Checklist
Money from a source other than the family to assist with the cost of attending college or career school. What is Financial Aid?
Paying for College Combination of resources FamilyFederal GovernmentStatesCollegesPrivate sources
Types of Financial Aid Scholarships Scholarships - gifts and awards based on: academic merit and other achievements interests and career plans ethnicity, family background and/or financial need, etc. Grants Grants - money awarded based on need Both are considered “free” money and do not have to be paid back.
Types of Financial Aid Loans borrowed money based on need and credit worthiness; must be paid backWork-Study part-time jobs for students with financial need; earn money to help pay educational expenses
What is federal student aid? What is federal student aid? U.S. Department of Education provides more than $150 billion in grants, loans and work-study funds. Overview of Financial Aid
Who can get federal student aid? Basic Eligibility Criteria U.S. citizen or permanent resident High school graduate Eligible degree or certificate program Valid Social Security number Males registered for Selective Service Satisfactory academic progress in college/career school
What is the FAFSA? Free Application for Federal Student Aid A standard form that collects demographic and financial information about the student and family. It is used to determine financial need. Use it to apply for federal and state student grants, work-study, and loans.
http://youtu.be/c-23SMf5DyQ How do I apply for federal student aid? How to Fill Out the FAFSA
STEP 1 Get a PIN at www.pin.ed.gov www.pin.ed.gov Username Password Sign FAFSA electronically May be used by students and parents throughout aid process, including subsequent school years
STEP 2 Gather the documents you need to apply. What do I need to have before filling out the FAFSA? What do I need to have before filling out the FAFSA? Optional: Use FAFSA on the Web Worksheet to prepare your answers. Get the Worksheet 2015-16 FAFSA Web Worksheet
STEP 3 Fill out your FAFSA at www.fafsa.gov. www.fafsa.gov Apply on or after January 1 but as early as possible to meet all deadlines. Need help? Use the help functions within the FAFSA (including live chat) or call 1-800-4- FED-AID. Don’t forget: watch for the confirmation page that says your FAFSA has been submitted. THEN log out.
STEP 4 Watch for response by e-mail or by mail. Double-check that your info is correct by logging on at the FAFSA site and reviewing your data. Correct any mistakes and submit the corrected information. Meet all deadlines or you could miss out on aid!
In general, depends on your financial need. For early estimate, For early estimate, use FAFSA4caster: use FAFSA4caster: Go to www.fafsa4caster.ed.govwww.fafsa4caster.ed.gov Enter some financial information Get an estimate How much federal student aid can I get?
What happens next? Each school will tell you how much aid you can get at that school. Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.
What happens next? After the FAFSA: What Happens Next
Where can I get more info about federal financial aid? StudentAid.gov Info about aid programs Links to free scholarship and college searches 1-800-4-FED-AID Info about aid programs Help with FAFSA Find the Federal Student Aid Information You Need
How can I get other kinds of financial aid? DO YOUR RESEARCH! States, colleges, and private scholarships have their own eligibility criteria. Be sure you know what you need to do to qualify. Find and apply for as many scholarships as you can! Start researching early and meet deadlines.
Avoid Financial Aid Scams Organizations that offer to locate more aid and then charge you a fee Anyone who charges you a fee: for information about financial aid to complete the FAFSA to apply/receive a scholarship Organizations that guarantee you will get a scholarship or aid
Klein ISD E-Scholarships USA Go to web page www.collegeguidanceconsultants.comwww.collegeguidanceconsultants.com Enter User Name & Password (Contact the counseling office) List sorted by due date Search for specific types Titles directly link to scholarship site
College for All Texans http://www.collegefortexans.com/ http://www.collegefortexans.com/ Apply Texas applytexas.org is a one-stop shop for applying to a public university or community college in Texas applytexas.org Compare Texas Colleges comparecollegetx.com comparecollegetx.com Every Chance Every Texan http://www.everychanceeverytexan.org/funding/ Scholarships & Financial Aid Information Online Resources: Texas
www.finaid.org www.finaid.org www.studentaid.gov www.studentaid.gov www.fastweb.com www.fastweb.com www.mappingyourfuture.org www.mappingyourfuture.org www.collegeboard.org www.collegeboard.org www.salliemae.org www.salliemae.org www.nasfaa.org www.nasfaa.org Information on the web
FINANCIAL AID TV Everything you need to know about financial aid provided in short, easy to understand videos. Provided by St. Thomas University, Houston http://stthom.financialaidtv.com/
Upcoming Events Houston National College Fair February 12, 6-8 pm NRG Center Parents and students can meet one-on-one with representatives from colleges and universities to discuss admission and financial aid opportunities at their respective institutions. Check with the counseling office to learn about college preparation and planning events.
Thank you for your participation! Thank you for your participation!