1. THE INS AND OUTS OF FINANCIAL AID P AYING FOR C OLLEGE

2. Tuition & Fees Room & Board Transportation Books & Supplies Miscellaneous Living Expenses Cost of Attendance (COA)

3.  Financial aid refers to specific borrowed, given, or earned money that can be obtained from various sources to help pay for college.  It is intended to make up the difference between what your family can afford to pay and what college costs. What is financial aid?

4. How Much Aid Do I Get? Cost of Attendance (COA) Cost of Attendance (COA) Expected Family Contribution (EFC) Expected Family Contribution (EFC) Financial Need Financial Need -=

5. Three Examples College A COA (Cost of Attendance) EFC (Expected Family Contribution) Financial Need $3,000 $10,000 $7,000 $3,000 $20,000 $17,000 - - = = $3,000 $35,000 $32,000 - = College B College C

6. The Official Site for Aid FAFSA.ED.GOV

7. The FAKE Site for Aid FAFSA.COM

8. Never Pay for Scholarships Talk to Your Counselor If you have to pay money to get money, it's probably a scam! In general, be wary of scholarships with an application fee, scholarship matching services who guarantee success, advance-fee loan scams and sales pitches disguised as financial aid "seminars". If you ever have questions about if a scholarship offer is legitimate, talk to your counselor The only financial aid that has a fee is the CSS profile Scams to Avoid!

9. Every college website must have one but you might need to search for it. Know now approximately how much grant aid and loans you will receive. The best source of scholarship money will most likely be your child’s “safety” schools. Colleges are not required to meet full demonstrated need. Some do but most do not. The Net Price Calculator How much is it really going to cost? What institutional money might be available? Determine estimated costs up front before your child applies to and is accepted at a college that is beyond your family’s ability to pay.

10. Emerson College Boston University Family Income: $70,000 3 children, married joint filing Emerson Grant: $23,000 Federal Pell Grant: $2,995 Direct Subsidized Loan : $3,500 Direct Unsub Loan: $2,000 Perkins Loan: $2,000 Work Study: $1,500 Total Aid: $34,995 Total Cost: $54,894 Family Will Need to Pay: $19,899 Family Income: $70,000 3 children, married joint filing Federal Pell Grant: $2795 Direct Subsidized Loan: $3500 Direct Unsub Loan: $2,000 Total Aid: $8,295 Total Cost: $61,476 Family Will Need to Pay: $53,181 Actual Aid Packages

11. Fairfield University Babson College Family Income: $99,800 2 children, married joint filing Merit Scholarship: $11,500 Tuition Grant: $10,250 Direct Subsidized Loan : $3,500 Direct Unsub Loan: $2,000 Perkins Loan: $2,000 Total Aid: $36,895 Total Cost: $58,730 Family Will Need to Pay: $21,835 Family Income: $76,100 2 children, married joint filing Babson Grant: $45,000 Direct Subsidized Loan : $3,500 Direct Unsub Loan: $2,000 Work Study: $2,200 Total Aid: $52,700 Total Cost: $60,494 Family Will Need to Pay: $7,794 Actual Aid Packages

12. I Have More Questions www.studentaid.ed.gov Information about aid programs Free scholarship search Free college search 1-800-4-FED-AID Information about aid programs Help with the FAFSA