Cal State University, East Bay Preview Day 2015 Welcome to The Bay!

You will …  Prepare for the aid application process that starts in January  Learn financial aid terms and concepts  Hear tips to help the process proceed smoothly Via Talk & Short Videos

Myths About Financial Aid   File early with estimates  Use the IRS Data Retrieval Tool when tax returns are filed (if eligible) (March 2 nd priority deadline)

Answers to look for …  How do I apply?  How much does it cost?  Am I guaranteed to get free money?  Applying for Aid

Points to emphasize …  fafsa.gov each January  Application is FREE  Grant eligibility is based on your FAFSA info “loans ARE financial aid” Applying for Aid

Answers to look for …  What can I use aid to pay for?  What aid types do not have to be repaid?  How much money should I borrow?  Federal Aid Types

Points to emphasize …  Aid can be used to cover Cost of Attendance (student budget)  Grants (free $) and work-study job (earned $) are not repaid  Make a budget; borrow as little as possible; it’s not Monopoly $ Federal Aid Types

Answers to look for …  What info should I gather?  What if taxes aren’t filed yet?  How do I sign the FAFSA?  Filling Out the FAFSA

Points to emphasize …  Careful w/ legal name (hyphen, nicknames), SSN, and DOB  Use IRS Data Retrieval Tool when taxes are filed  FSA ID is your e-signature and can be obtained at fafsa.gov Filling Out the FAFSA

Not Eligible to File the FAFSA?

Answers to look for …  What is a priority deadline?  What is a Cost of Attendance?  What is an Expected Family Contribution (EFC)?  Priority and Need

Points to emphasize …  March 2 nd is priority deadline (allow buffer for fixing errors)  COA has actual/estimated costs  EFC is an index for eligibility  Visual look at COA-EFC=Need Priority and Need

Monitor & Manage Your Cal Grant Change School, Update Personal Info, Report Graduation Date

Answers to look for …  What is a Student Aid Report?  What if my FAFSA has errors?  How do I learn about the loan rights and responsibilities?  What Happens Next

Points to emphasize …  Student Aid Report is summary  SAR comments identify errors Don’t miss priority date because of errors!  Loan counseling required  Master Promissory Note (MPN) states terms and conditions What Happens Next

 Money you apply for and win  Typically awarded for area of study, good grades, special talents, or community service  You don’t have to repay scholarship money Type “scholarships” in the CSUEB website search box Scholarships University and Outside Sources

Cal State University, East Bay Preview Day 2015 Question Period Follows