Financial Aid and Scholarships MINI-CAMP COLLEGE WORKSHOPS

How can I pay for college? How much does it cost? 65% of full time undergraduates at 4 year institutions pay $9000 or less per year for tuition and fees Paying for college is a partnership The best plan will include funding from a variety of sources—student, family, state, federal and private programs

What is Financial Aid? Gift Aid Grants and Scholarships “Free” money—you don’t have to pay it back! Self-Help Aid Work-Study Job opportunity to earn money Loans money borrowed that must be repaid or cancelled through service

Categories of Aid Merit Based Need Based

College Planning Calendar Make a list of college or universities to which you may apply Review the web sites for the schools on your list to find deadlines for submitting the application for admission, scholarship applications and financial aid applications Keep a calendar of these deadlines with reminders for important events

Sources of Financial Aid Private Institutional State Federal

How to Apply for Private Aid Ask your high school counselor Contact your parent’s employer Make a list of organizations you or your parents are affiliated with Complete scholarship searches – FastWeb.com, Zinch.com, CollegeBoard.com

Apply for Institutional Aid Academic Achievement Work Study Loans Grants

Completing the FAFSA Taking it one step at a time Hurry up! And wait…

Need Based Aid Application Process Free Application for Federal Student Aid (FAFSA) Required for some state aid Pell Grant Supplemental Educational Opportunity Work Study Student Loans

Getting Ready Apply for student and parent PIN Gather records you will need Student driver’s license & social security card W-2 forms and other records of money earned Federal income tax returns Records of untaxed income Current bank statement Business and farm records Records of stocks, bonds and other investments

Submitting Your Electronic Application Print a copy for your records Federal Student Aid Programs P.O. Box 4014 Mt. Vernon, IL Chelsea Jones 333 N. Main Street Big City, CA 92345

What Happens Next? Student and school receive Student Aid Report (SAR) from federal processor Schools mail award letter to student

The Award Letter Provides Important Information Types and amounts of aid offered Student responsibilities Conditions governing awards Opportunity to accept or decline awards Award Letter

Figuring it Out – Comparing Awards Review types, amounts and renewal requirements Compare types and amounts of self-help aid Be sure to review the total cost of attendance for each institution-the bill and out-of-pocket expenses Award Letter Award Letter

Additional Resources CollegeBoard.com Award comparison tool Expected Family Contribution Calculator Student Scholarship Search Profile Application Online Your High School Counselor Financial Aid and admission counselors at the schools on your application list