1. Woodbridge campus will be having its Spring Open House on Saturday, May 18, 2013, 10am- 1pm. It is open to students, parents, high school staff and the community. Students will have the opportunity to meet with a first-year advisor, learn more about our programs, and tour the campus. In addition, they will be able to complete their NOVA application and/or FAFSA with our advisors that day. A note from NOVA Woodbridge….

2. What is Financial Aid Umbrella term that means “money for college”; usually associated with Federal financial aid/FAFSA What is Financial Aid? Need or merit based From your college of attendance or an independent organization Do NOT need to be repaid Scholarships Usually need based Usually gained from filing FAFSA Do NOT need to be repaid Grants Must be repaid Repayment plans and interest rates vary Through government or private lenders Loans Money allotted for you to earn through an on or off campus job Earn as you work No need for repayment Work Study 2

5. Cost of Attendance  Direct costs Billed by or paid directly to the college, such as tuition and on campus housing  Indirect costs Necessary expenses, such as transportation and personal care items, that are not paid to the college  Colleges combine direct and indirect expenses into the cost of attendance (COA)  Not all schools can provide financial aid to cover the whole COA  Note the difference between COA and Tuition  What is included in COA? What is included in COA?

6. Grants 6 Pell Grants Federal Supplemental Educational Opportunity Grant (FSEOG) TEACH Grant - www.teachgrant.ed.gov www.teachgrant.ed.gov Academic Competitiveness Grant National Science & Math Access to Retain Talent (SMART Grant)

7. VA State Grants 7 Commonwealth Award VA Guaranteed Assist. Program College School Assist. Program Tuition Assist. Grant Prog (TAG) ▫You must submit an application which is available at the financial aid office of your private college (non- need based) ▫See www.schev.edu for more grantswww.schev.edu *Click on Financial Aid  Undergraduate

8. Outside Scholarships You will lose need-based aid in the form of grants or loans if you receive over what you need in scholarships You must report outside scholarships awarded to your school! Note the difference between scholarships that come to you and scholarships that go to your school. 8

9. Work Study Federal Work Study ▫Students work on or off campus and their wages come from this fund and are paid directly to student ▫Jobs may or may not relate to student major/minor ▫Need-based ▫Must check the FAFSA box to be considered 9

10. Loans Available Types of Loans ▫Federal Student Loans  Perkins  Stafford Subsidized (NO INTEREST)  Stafford Unsubsidized (6.8% interest) ▫Federal Parent Loans  Parent PLUS (7.9% interest, no grace period) ▫Private Loans 10

11. Where you can get more information Websites ▫www.fafsa.ed.govwww.fafsa.ed.gov ▫www.studentaid.ed.govwww.studentaid.ed.gov ▫www.schev.eduwww.schev.edu 11