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F$NANC$AL A$D AND BEYOND $. WORKSHOP AGENDA Scholarships Grants Federal Loans Private Loans The Financial Aid equation How is eligibility determined?

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Presentation on theme: "F$NANC$AL A$D AND BEYOND $. WORKSHOP AGENDA Scholarships Grants Federal Loans Private Loans The Financial Aid equation How is eligibility determined?"— Presentation transcript:


2 WORKSHOP AGENDA Scholarships Grants Federal Loans Private Loans The Financial Aid equation How is eligibility determined? Needs Based Awards Completing FAFSA How to apply for financial aid

3 Ways to Finance an Education Scholarships- Awarded for academics, athletic ability, ethnicity, religion, special talents, and extra curricular activity. Generally require letters of recommendation. Grants - Awarded on the basis of financial need, academic achievement may also be considered. Loans- Federal or private money borrowed which must be repaid with interest, but with typically low interest rates. Work Study- Colleges help arrange a job for you as part of your financial aid package. Earnings may be used to pay for college tuition.

4 Tips for Applying for Scholarships Apply for as Many Scholarships as Possible. Smaller awards add up and increase chances. Applying for only large awards decrease chances. Smaller awards provide additional information when applying for larger awards. Develop a Collection of Reusable Information. Saves time and energy. Helps you focus more customizing information. Participate in Community Service Many organizations require involvement.

5 Financial Aid Websites hundreds of scholarships many categories for the latest up to date information on scholarship awards. for more than 2.4 million scholarships worth over 15 billion dollars. for scholarship options and awards. for a listing of scholarship search engines. for financial options and information. provides information on various grants.

6 Scholarship Resources GV counseling website  college info  GV TV and Daily Bulletin Scholarship Bulletin Board (counseling office). College’s website for information for financial aid and scholarship programs. Talk Parent’s employer may offer scholarships Local organizations, churches, clubs, or synagogues. to your coach about club sport scholarships

7 Letters of Recommendations for Scholarships Request a “Senior Brag Sheet Recommendation” form from the counseling office or complete through the Naviance website (not available in all school districts) Read and follow instructions carefully. Give your teachers or counselors at least 10 days to write recommendation. Save or make copies for future use.

8 FAFSA (Free Application for Federal Student Aid) MUST be completed for financial aid from the state or federal level. Application to apply of various grants. Apply online for convenience and accuracy Valid social security number required. Application based on parent’s earnings from previous year. Application dates: January 1 st -March 2 nd of senior year.

9 Cal Grants and Pell Grants Cal Grants State funded awards given to students to help pay for college, and are not paid back. Can be awarded up to $12,192 (UC) $5,472 (CSU) A FAFSA form must be completed between January1-March 2 Counselor must complete a GPA verification form. Pell Grants A federal funded award to help students pay for college and are not paid back. FAFSA form must be submitted between January 1- March 2 Must apply online at * Note: Both grants are based on student’s financial need.

10 Community College Cal Grant A & B Cal Grant A & B Two filing dates : March 2, and Sept. 2 Must complete a FAFSA and GPA verification form by March 2. awarded to students who will be attending community college. Cal Grant A Can reserve award up to 3 yrs. until transferring to 4-yr. college (must remain eligible). Can be activated anytime within the time frame. Cal Grant B Living allowance/tuition fee assistance for low- income students. First year students also provided funds for books and supplies.

11 Types of Federal Loans Stafford Loan (unsubsidized) Must submit FAFSA application Must be enrolled or plan to enroll at least part time Perkins Loan (subsidized) Must submit FAFSA application. Must be enrolled part time in a degree program Parent Plus Loan Credit Check required Parents of independent students not eligible Sallie Mae Loan Offers federal and private loans May require FAFSA application Low interest rates *Subsidized -not required to pay back interest while in school.

12 Federal Work Study Provides jobs for undergraduate and graduate students to help pay for college with financial need. Encourages community service work. Work related to student’s major. Earn the current federal minimum wage. Can be higher depending on the job. Money must be used for educational purposes Work Study Program can be on campus or off campus. Off campus jobs are usually for non-profit organizations. Work hours cannot exceed the federal award amount



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