Making Cents of Financial Aid Poinciana High School Making Cents of Financial Aid

4 Types of Financial Aid FEDERAL FAFSA STATE FAFSA + Florida Bright Futures INSTITUTIONAL Aid from the college itself, check with each college for specific offers OUTSIDE AGENCIES Education Foundation, scholarships.com, collegeboard.org, cappex.com, raise.me

Financial Aid NOT JUST LOANS! Definition: Money given, paid, or loaned to help pay for college. Scholarships Grants Loans

Basic Equation of Need Budget/Cost of Attendance (COA) -- Expected Family Contribution (EFC) = Financial Need (eligibility) The college will attempt to offer FINANCIAL AID to meet your calculated FINANCIAL NEED

Budget/Cost of Attendance (COA) Tuition and Fees Room and Board Books and Supplies Transportation Health Care Miscellaneous Personal Expenses

Expected Family Contribution (EFC) What is considered in EFC calculation: Parent and student incomes Parent and student assets including savings, stocks and bonds, real estate investments, farm or business ownership, and trusts. (not included: family’s primary residence equity and specific retirement funds) Number of children in family household Number of children in family attending college

State Private CC Budget 20,000 35,000 10,000 EFC = Fin. Need 25,000 (varies) 20,000 35,000 10,000 EFC (constant) = Fin. Need 25,000

The FAFSA The FAFSA form is required to apply for Federal Financial Aid and Florida Bright Futures The Pell Grant

The FAFSA Go to http://www.fafsa.ed.gov Register your FSA ID for student and parent – must be different # for parent & student If you have to pay, you are getting scammed!!! On-line version: Record your ID numbers (parent & student) in a safe place for future reference. Remember that Financial Aid deadlines are NOT flexible.

You will need… First 2 pages of your Tax Return Social Security Numbers & birthday dates for parents and student Marriage/divorce information of parents Dates of when you began living in FL

FAFSA Help Monthly FAFSA on the 1st @ Poinciana High School Districtwide FAFSA Nights

Other Types of Financial Aid INSTITUTIONAL Aid from college or university Awarded under guidelines determined by institution Varies by school Financial need considered, not required Apply early for greatest opportunity

Other Types of Financial Aid EDUCATIONAL LOANS: Federally-backed loans: Subsidized Interest paid (by taxpayers) while student in school Lower-than-market interest rates May be paid in single payment Repayment starts 6 months after graduation Unsubsidized Interest accrued while student in school Lower interest rates Can defer repayment until after graduation

Loop Holes and Secrets Dual Enrollment: If able, student takes courses at local college…for FREE Opportunity for student to graduate with a High School Diploma and Associate’s Degree at the same time “Community” vs. Traditional 4 Year Cost factor Transition into 4 year University

Scholarships scholarships.com collegeboard.org cappex.ccom raise.me

Questions cooka@Osceola.k12.fl.us Thank you for your time tonight!