Financial Aid Westmont High School Guidance Department Fall 2013

What is Financial Aid? Financial Aid Myths Application Process Calculating Eligibility Awarding and Packaging What Next? Agenda

What is Financial Aid? Financial Aid is any money given or loaned to help pay for education Federal Student Aid California State Aid

What does it pay for? Tuition and fees Room and board Books and supplies Transportation May also include allowance for: Child care Costs associated with a disability Rental or purchase of computer

FAFSA & CalGrant Free Application for Federal Student Aid (FAFSA) CalGrant

Cost of Attendance (COA)  Expected Family Contribution (EFC)  Student’s Financial Need (eligibility) Basic Equation of Need

Financial Aid Myths Myth #1: You can’t afford college Myth #2: You have to be very poor, very smart or very talented to qualify Myth #3: You can get more scholarships by paying someone to search for you Myth #4: If you pay for college, your parents’ salaries don’t matter Myth #5: You can wait until you get accepted to a college before worrying about financial aid

Types of Financial Aid Need-Based Based on family’s financial situation Non Need-Based (Scholarships/Loans) Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.

Types of Financial Aid Gift Aid Grants Federal Pell Grants Cal Grants Scholarships Self Help Work Study Loans

Types of Financial Aid – GIFT  Federal Pell Grant First source of aid Undergraduate students only Amount based on Cost of Attendance (COA) Expected Family Contribution (EFC) Enrollment status maximum = $5,550

Types of Financial Aid – GIFT  Cal Grants Cal Grant A For students with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need Cal Grant B For students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need Cal Grant C For students from low income families pursuing occupational, technical, and vocational programs of study

Types of Financial Aid – GIFT  College Grants Community College Board of Governor’s Fee Waiver (BOG) Waives enrollment fees, FAFSA may be required CSU State University Grant (SUG) Amounts vary, FAFSA is required UC Grant Use federal formula to award grants. Independent College Grants Amounts and application process vary

Creating a “WebGrants 4 Students” Account Students create a WGS account with a submitted GPA to the Commission. To establish a WGS account, go to and follow the instructions!

Types of Financial Aid – SELF-HELP  Federal Work Study Campus-based aid Must be earned through work Job may be on or off campus May have annual maximum funding levels vary at each institution Need-based

Types of Financial Aid – SELF-HELP  Loans Subsidized- Need based Interest paid by government Unsubsidized- Not need based Student pays interest PLUS - Not need based Borrowed by parent Perkins - Need based 0% interest while in school

Step 1: Filing the FAFSA Apply For A PIN Students need a PIN. Parents need a PIN too. PIN is student’s and parent’s signature. The PIN Application Process consists of 3 steps: Step 1: Enter Personal Information Step 2: Submit Your PIN Application Step 3: Receive Your PIN – KEEP IT PRIVATE!

Information Needed to Register for a PIN Social Security Number Last name, First name, Middle initial Date of Birth Address

File a FAFSA online FED-AID ( ) Step 2: Apply Online

The deadline for FAFSA and GPA submission is Thursday, March 2, 2013 Many private schools have an earlier deadline such as Febraury 1 st, 2013 – check each campuses deadline. What’s the deadline?

What is a name? Must use legal name as it appears on social security card Kimberly Vicky Victoria Kim

FAFSA Questions What does the FAFSA ask about? General Student Information Student income and Tax Information IRS Data Retrieval Available February 1 st, 2013 Opt to “Transfer My Tax Information into the FAFSA” Can file FAFSA earlier (using estimated info.) Allow 2 weeks if taxes e-filed; 8 weeks if taxes done on paper Can file FAFSA earlier (using estimated info.)

Who is eligible for financial aid? U.S. Citizen, Eligible non-citizen, or Neither Must have a Social Security Number to continue online application or Matched with name and date of birth registered with SSA

Citizen or non-citizen? Eligible non-citizen If you’re not in one of these categories, you must be an eligible noncitizen, and you must have an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations: "Asylum Granted“ "Refugee" "Cuban-Haitian Entrant, Status Pending" "Conditional Entrant” Victims of human trafficking, T-visa

Selective Service/ Inactive Draft Males between 18 and 25 must register Check “Yes” and you will be automatically registered Not yet 18, check yes and SSS will register you on birth date May also register using Web site

Degree/Grade Level Student’s Grade Level Check “1 st year/never attended college before”, whether or not a concurrent enrollment student Degree Check “1 st bachelor’s degree” Student’s expected enrollment status Always check “full time” Does not commit you to attending full time

Parents’ Household Size Include student and parents Siblings/ other people (regardless of age) If they live with parents and provide 50% or more of their financial support from July 1, June 30, 2013

Questions? Financial Aid Night at West Valley College Theater Thursday, January 24 th 6:30 – 8:00 PM Free parking night of the event

Your To-Do List Complete GPA Release Form and return to the Guidance office by Feb.25 th. Complete the FAFSA online beginning January 1 st Student and parent use PIN to sign Read and save confirmation page Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 24th at 6:30 Watch for your Student Aid Report (SAR) and California Aid Report (CAR)

Thank you Apply!