cIcu Meeting ( October 22, 1998 “Financial Aid 101” Dr. Keith Jepsen NYU Director, Financial Aid ( Adjunct Assoc. Professor of Higher Education Graduate School of Education course: “Financing Higher Education” ( NYUwww.nyu.edu/financial.aidwww.nyu.edu/classes/jepsen

Financial Aid 101 in New York Form -- the process Formula -- who gets what So What? -- discussion

Financial Aid 101 in New York “Form”--the process cIcu ( Department of Ed: FAFSA ( NYSHESC ( Project EASI ( New York Mentor ( Access America for Students (

Financial Aid 101 in New York “ Formula”--who gets what Federal methodology for Family Contribution (ifap.ed.gov/csb_html/efcform.htm)ifap.ed.gov/csb_html/efcform.htm TAP grant eligibility ( School packaging

Family #1 income $10,000 (2 parents, 1 in college) One year of college$33,846 Family contribution0 Still need$33,846 TAP Grant4125 Pell Grant3000 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$23,250 Other sources?$10,596

Family #2 income $30,000 (2 parents, 1 in college) One year of college$33,846 Family contribution175 Still need$33,671 TAP Grant3295 Pell Grant2850 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$22,270 Other sources?$11,401

Family #3 income $60,000 (2 parents, 1 in college) One year of college$33,846 Family contribution4951 Still need$28,895 TAP Grant275 Pell Grant0 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$16,400 Other sources?$12,495

Family #4 income $90,000 (2 parents, 1 in college) One year of college$33,846 Family contribution14,467 Still need$19,379 TAP Grant0 Pell Grant0 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$16,125 Other sources?$3,254

Financial Aid 101 in New York Discussion and Reference Unmet need very large Private loans are expensive nysaves.org is good--but too late for “current” students. (