Cost of Attendance Tuition and Fees Books, Supplies, and Equipment Room and Board Transportation Miscellaneous Personal Expenses
What is Financial Aid? Financial Aid is any source of financial support given to a student pursuing higher education.
Must be making progress toward a degree, certificate or credential Must be U.S. citizen or eligible non-citizen Must have valid Social Security # Males registered w/ Selective Service General Eligibility Requirements
AB 540 – In State Tuition Under state law approved in 2001, the University of California, California State University, and the California Community Colleges systems can consider unauthorized alien for in- state tuition if: 1. they attend a California high school for at least three years, 2. graduate from a California high school or equivalent (GED), and 3. sign an affidavit pledging to apply for permanent residency as soon as they are eligible. Students who are NOT U.S. Citizens, Permanent Residents or eligible residents should apply for scholarships. These students are NOT eligible for government aid but they ARE ELIGIBLE to attend a college and university. www.maldef.org www.latinocollegedollars.org
Types of Financial Aid Grants Grants Scholarships Scholarships Work-Study Work-Study Education Loans Education Loans
S C H O L A R S H I P S Merit Based Awarded for academic excellence Athletics Ethnic & Minority Corporate Scholarships Private Scholarships SCHOLARSHIP SEARCH: www.fastweb.com www.maldef.org www.latinocollegedollars.org www.hsf.net www.collegecampaign.org www.scholarships.com
Work Study Based on financial need Provides you with a job on or near campus Helps pay educational expenses Flexible schedule
FEDERAL LOAN PROGRAMS Loans must be paid back! Perkins Loan Need based loan Subsidized Stafford Need based loan, Dept. of Ed. pays interest while student in school Unsubsidized Stafford Borrower pays interest PLUS- Parent Loan
How to Apply Submit the FAFSA as soon as possible after January 1 st (of senior year & after) Priority deadline is March 2 nd Review the Student Aid Report (SAR) Submit changes to SAR www.fafsa.ed.govwww.pin.ed.gov
Sample Financial Aid Package StatePrivate Pell Grant$1,000$1,000 State Scholarship $3,000 $3,000 Institutional Grant$1,975$9,750 Loan-Stafford $2,625 $2,625 Institutional Scholarships$1,000$8,000 Work-Study$2,000$2,000 Total Aid$11,600 $26,375 Total Cost$15,000$30,000 -Total Aid$11,600$26,375 Net Cost (EFC + Remainder)$ 3,400$ 3,625
Review & Questions What is FAFSA? What is FAFSA? What is a Grant? What is a Grant? How do you get a scholarship? How do you get a scholarship? What is the priority deadline for FAFSA? What is the priority deadline for FAFSA? How can parents help their students apply for FAFSA? How can parents help their students apply for FAFSA?
Next steps…. Student & Parent obtain PINs Gather financial documents 2008 Tax Forms 2008 & 2009 W-2 forms December 2009 pay stub Complete FAFSA worksheet Attend Late Nights at the high school for assistance with FAFSA Submit FAFSA before March 2nd