Aldine ISD Guidance and Counseling Department Funding you Child’s Education Aldine ISD Guidance and Counseling Department

What is Financial Aid? Financial Aid is money that students receive to assist them in paying for their college education.

Types of Student Financial Aid Grants- Free money Scholarships- Free Money Loans-Borrowed Money Subsidized Must demonstrate financial need Payment begins when you leave school Unsubsidized No financial need has to be demonstrated Payment begins immediately Employment/Work Study

Key Things to Remember Myths: Truths We make too much money, so we will never qualify. Only people with high GPA’s receive scholarships. You can only receive financial aid if you pay someone to help you find it. Truths Anyone can receive financial aid Scholarships are not solely based on GPA You do not need to pay anyone to help you complete your FAFSA/TAFSA or for scholarships

How Do I Apply for Financial Aid? Complete the FAFSA (Free Application for Federal Student Aid Apply anytime after January 1 of senior year Parent and students must complete FAFSA Apply online at www.fafsa.ed.gov CSS Profile Select colleges require the CSS Profile Visit www.collegeboard.com for details

How Do I Apply for Financial Aid? TAFSA – Texas Application for Student Aid Apply anytime after January 1 of senior year For undocumented students go to AIE.org for application Application must be copied and mailed to each college/university.

What is the FAFSA? This application is required to be completed to receive most federal and state aid The U.S. Department of Education determines the estimated family contribution (EFC). Parent and Student income and assets Number of household members Number in college

The FAFSA ONLINE What do you need when filling out the FAFSA? Income Tax forms – from the parent and student 1040, W-2 from most current year Social Security numbers- from parent and student Date of marriage, divorce or separation – from parent Total current balance of cash/savings and the value of investments.

Federal Student Aid ID (FSA ID) Student and parent need a FSA ID. Will be used multiple years. Used to sign FAFSA electronically—required for online signature Apply NOW or apply at the end of the application FSAID.ED.GOV

How Is My Information Used? your need is calculated based on the following formula: Cost of Attendance Expected Family Contribution (EFC) = Financial Need

FREE Application for Federal Student Aid CAUTION!!! Avoid being charged a fee to file the FREE Application for Federal Student Aid Completion and processing of the FAFSA are FREE If filing via FAFSA on the Web, be sure to go directly to www.fafsa.ed.gov

What Happens After I fill out the FAFSA? Universities will sometimes request additional information (Verification Form) You may be asked for a copy of the tax transcript or other information College will notify via email, Web or mail of aid eligibility Student should follow colleges’ instructions to accept or decline aid offered.

How is Financial Aid Awarded? Colleges listed on the FAFSA will receive the electronic Student Aid Report (SAR). You can list up to 10 schools. Schools use the information on the SAR to prepare a financial aid package to help meet your financial need. A financial aid award letter is sent to the student Colleges may offer a combination of several types of financial aid Student must accept or reject financial aid offered Funds are awarded in the fall How is Financial Aid Awarded?

Cost of Attendance Tuition and fees Room and board Books, supplies, transportation, and miscellaneous personal expenses, including documented costs for a personal computer

College Costs University Cost of Attendance Baylor University $54,160 Lone Star College $6,298 Prairie View A & M University $21,747 Remington College $31,998 Rice University $58,283 Sam Houston State University $22,690 Texas A & M University $24,024 University of Houston $22,463 University of Texas $28,234

Savings 529 Plans Scholarships Other Funding Sources Savings 529 Plans Scholarships

SCHOLARSHIPS

SCHOLARSHIPS Non Institutional Institutional Competitive Awards based on Athletics Merit Need Talent Community Service Most are looking for the well rounded student Non Institutional Awarded by: Corporations Local, State or National Organizations Civic groups churches May be used at any school Institutional Awarded on behalf of the university/ college May only be used at that school

So where do I find scholarships?

District Website

Scholarship Application Process Get a copy of the app Find out requirements Complete the scholarship application Gather all required supporting documents recommendations, transcripts, photo, etc. Mail completed application with all documents before scholarship deadline or submit all information online Students are responsible for mailing scholarship applications unless otherwise specified

Scholarship Application Tips Read all requirements and directions carefully. Type your application If you cannot type your application please print neatly and legibly. Most applications are submitted on-line Complete the entire application. Do not leave any blanks. Use black ink unless otherwise specified. Ask for Letters of Recommendation early (NOW). Develop a resume with all extra-curricular and community service activities, facts about yourself (strengths , weaknesses, leadership ability. Watch for deadlines! Know the difference between post mark deadline and In-office deadline.

Potential “Scams” “The scholarship is guaranteed or your money back.” No one can guarantee your scholarship before it is awarded. “Come to our free seminar and we’ll show you how to get more financial aid.” This is a sales pitch. Don’t pay for information that you can get elsewhere for free.

What Should We Do Now?

Parent Remind 101

QUESTIONS ????