1. Everything you need to know about paying for college!
FINANCIAL AID:
Everything you need to know about paying for college!

2. FAFSA FAFSA - GO TO FAFSA.GOV DO NOT GOT TO FAFSA.COM
FSA ID - You must get a FSA ID for you and your parent. This is your electronic signature. You go to fsaid.ed.gov. For security reasons, you will have to select 5 challenge questions and the answers must be unique. Do not use same address for you and your parent.
* You can list up to 10 colleges. You can add additional school schools by correction.
* Your college list will not be shared with colleges.
SAR – You will receive this report from FAFSA
EFC- This will appear on the SAR and will tell you how much your family is expected to pay but the federal government
TAP up to $5, 165/year
CSS
COA

3. Federal Verification for FAFSA
If you are eligible to use the IRS Data Retrieval Tool, it is highly recommend using the tool for several reasons:
the easiest way to provide your tax data.
It’s the best way of ensuring that your FAFSA has accurate tax information.
You won’t need to provide a copy of your or your parents’ tax returns to your college.
Online Go to A paper transcript will be mailed to the requestor within 5 to 10 days. Please submit it to our office by mail or fax.
Telephone Call (800) A paper transcript will be mailed to the requestor within 5 to 10 days. Please submit it to our office by mail or fax.

4. Grants and Scholarships
Grants and scholarships are often called “gift aid” because it is free money—financial aid that doesn’t have to be repaid.           

5. GRANTS Federal Pell Grants
Federal Supplemental Educational Opportunity Grant
TEACH Grant
NY- AIMS Grant

6. LOANS
If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. A loan is money you borrow and must pay back with interest.   

7. TYPES OF LOANS
Subsidized: are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. No interest while in school.
Unsubsidized: are loans made to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan. Interest accrues the day the loan is disbursed until it is paid in full!
Perkins Loan: Available to students with exceptional financial need. Interest rate for loan is 5%.
Plus Loan: This is a parent Federal Direct Parent loan. This is calculated by the COA = Cost of Attendance minus other financial aid.

8. Work Study
The Federal Work Study program (also known as FWS or simply Work-Study) is a federally funded program in the United States that assists students with the costs of post-secondary education. The Federal Work Study Program helps students earn financial funding through a part-time work program.

9. How Much Can You Earn?
You’ll earn at least the current federal minimum wage. However, you may earn more depending on the type of work you do and the skills required for the position.
Your total work-study award depends on:
when you apply,
your level of financial need, and
your school’s funding level.

10. How Will You Be Paid?
How you’re paid depends partly on whether you’re an undergraduate or graduate student.
If you are an undergraduate student, you're paid by the hour.
If you are a graduate or professional student, you're paid by the hour or by salary, depending on the work you do.
Your school must pay you at least once a month.
Your school must pay you directly unless you request that the schoolsend your payments directly to your bank account or use the money to pay for your education-related institutional charges such as tuition, fees, and room and board.

11. How Many Hours Can You Work?
Depends!
The amount you earn can’t exceed your total Federal Work-Study award. When assigning work hours, your employer or your school’s financial aid office will consider your class schedule and your academic progress.