District 51 Financial Aid Overview Curt Martin Colorado Mesa University
Show Me the Money! Need-Based Grants Merit-Based Grants o Academic Achievement o Athletics o Talent o Community Service o Only applicant Loans Savings Work
Prepare! Things to gather for need – based aid – Name, SSN, DOB – Federal Tax forms – Other Income – Assets Find Out the cost of the college
Cost of Attendance Billed Expenses College A College B Tuition $7,000 $28,600 Fees Room 5,194 6,500 Board 3,430 3,450 Total Billed $15,892 $38,850 Out-of-pocket Expenses Books & Supplies $1,698 Transportation 1,200 Personal Expenses 1,942 Total Out-of-Pocket $4,840 Total Cost of Attendance $20,732 $43,690
Preparing for Scholarships Do well academically Join Groups Become civic-minded Keep a diary
Look! High School Guidance Counselor College Web Sites College Financial Aid Offices Local Businesses & Banks Your Place of Employment (Parents Too) Clubs and Churches Magazines, Newspapers, TV, Soda Cans, Wrappers The Web in General
Student Debt Is Real So smart, so successful – so broke? Don’t become a statistic! For students ages 18-24, one-third of their income is spent on debt Average student loan debt is $23,200 Average student credit card debt is $5,400 at graduation More 21-to-24-year-olds are declaring bankruptcy than graduating from college
What’s your Plan? Starting Salary: $40,000 per year Take Home:$2400 per month Payments: Rent ($750) Student Loan($225) Car payment($400) Utilities($350) Credit Card($125) Food($350) Insurance($150) Emergencies($ 50) (dates, clothes, etc.)
Financial Aid Process January – March Complete FAFSA Complete scholarship applications If attending college in Colorado, complete COF at Verification documents requested by college
Financial Aid Process April – July Award notification sent to student Complete Master Promissory Note (MPN) and loan entrance counseling Parent needs to complete credit check and MPN for Parent Loan for Undergraduate Students (PLUS)
Financial Aid Process August – October Check in with Financial Aid office to verify that everything has been completed Financial Aid will be disbursed either 3 days before class or 2 weeks after classes start November – December Search for scholarships for next academic year Repeat process each year
Time to Split
Financial Aid FAFSA Overview Curt Martin Financial Aid Director
Federal Student Aid Pin
PIN Useful as an e-signature for FAFSA completion Parent and student may both apply for PIN
FAFSA on the Web’s Homepage
Student Identifiers
Enhanced Functionality
Student Eligibility
High School Question
College Selection Step
Financial Information
FYI IRS data retrieval continues Also available in Corrections Electronically filed tax return information will be available from the IRS in 1-2 weeks, data from paper tax returns will be available in 6-8 weeks. Check in with Financial Aid office to verify that all has been completed
IRS Data Transfer Once the applicant has successfully authenticated, tax data will be presented and the applicant will have the option to “Transfer” the tax information to the FAFSA Transferred data will have a notation - “Transferred from the IRS”
Untaxed income & Assets
Sign & Submit
Helpful Web Sites College in Colorado: Scholarship Search: FAFSA: PIN: MPN: U.S. Department of Education: General financial aid information:
Questions? Mesa State College Financial Aid Office: – MESA (Main Line) – (970) (Financial Aid) – Financial Aid Counselors: – Ashlee Caddy – Jim Ciha – Patty Diekman – Rose Willett – Carol Lawrence – Sally Schuman
Thank You