Understanding Financial Aid. Play video “FAFSA Video 1” then return to the next slide in this Powerpoint.

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Presentation transcript:

Understanding Financial Aid

Play video “FAFSA Video 1” then return to the next slide in this Powerpoint.

What is the FAFSA? FAFSA stands for … “Federal Application for Free Student Aid”

What is the FAFSA?  The FAFSA is an application that students fill out in the spring of their senior year (after January 1) to apply for financial aid from the government.  Aid will be awarded in the form of grants, loans and/or work-study.  Applications are typically completed online. Spanish versions are available.  Workshops are available to help you fill it out.

Types of Aid Grants  Money you do not pay back Loans  Money you borrow and pay back after you graduate

More about Grants  There are two major grants that students can receive: the Pell Grant and the Texas Grant  The Pell Grant is federal and can be used in Texas as well as other states  The Texas Grant must be used at a public college in Texas only

More about the Texas Grant Eligible Students…  Are Texas residents  Complete the Recommended High School Program or Distinguished Achievement Program in high school  Have not been convicted of a felony or crime involving a controlled substance  Show financial need  Enroll in a public college or university in Texas within 16 months of graduation

More about the Texas Grant How much can I receive?  $6,080 per year for public 4-year universities (UH, SHSU, UT, A&M)  $1780 per year for public 2-year community college (Lone Star College)  $2,680 per year for public technical college (UTI, ITT, DeVry)

Play video “FAFSA Video 2” then return to the next slide in this Powerpoint.

FAFSA Tips  Be sure you are on free or reduced lunch NOW (in high school) if you qualify, so you can answer yes to those questions later on the FAFSA! It will help you get more money!  Free/reduced lunch applications are available online at or in your academy’s office – ask the secretary for help with thiswww.cfisd.net

FAFSA Tips  Get your pin number now! You cannot submit your FAFSA online without it and there is no reason to wait. It will take longer to receive it after Jan. 1 and you don’t want to be stuck waiting for it. You need one and your parents need their own.

FAFSA Tips  Remember you do not have to accept all money awarded to you – loans have to be paid back later, so don’t accept more than you absolutely need!

Play video “FAFSA Video 3” then return to the next slide in this Powerpoint.

FAFSA Websites Websites are in the brochures:   