1. Financial Aid

2. Financial Aid Is…
…money from federal, state, and private institutions used to pay for college costs.
…this may be in the form of loans, grants, and/or scholarships.

3. Cost Differences Tuition and Fees Room and Board Books and Supplies
Community College
In-State Public University - UNCW
Private Institution
Tuition and Fees
$1,725
$6,647
$44,101
Room and Board
3,333
9,862
11,770
Books and Supplies
1,312
1,082
1,000
Transportation
2,004
1,690
775
Miscellaneous Costs & Health Ins
4,244
3,158
1,697
TOTAL
$12,585
$22,503
$59,343

4. Common Terms & Acronyms
FAFSA Free Application for Federal Student Aid
SAR Student Aid Report
EFC Expected Family Contribution
COA Cost of Attendance
FERPA Family Education Rights and Privacy Act

5. Calculating Financial Need
FINANCIAL NEED = COA – EFC
For example:
UNCW COA $22, (EFC) = ,000
Financial Need $17,503

6. Types of Federal Aid Federal Grant Programs Federal Work-Study Program
Pell Grant
Federal Supplemental Educational Opportunity Grant (SEOG)
Federal Work-Study Program
Loans
Direct Loans Subsidized and Unsubsidized - students
Direct PLUS Loans – parents
Apply for all at

7. Types of North Carolina Aid
Grants/Scholarships
NC Education Lottery Grant
University of North Carolina Need-Based Grant
Apply by filing FAFSA
Forgivable Education Loans for Service (FELS)
Nursing
Teaching
Allied Health Fields or Medicine
Apply with College Foundation of North Carolina

8. Types of UNCW Aid Grants
SOAR Ambassador Program
Institutional Grants
Apply with FAFSA by priority date March

9. Types of UNCW Aid (cont)
Scholarships
Most awards range between $500 and $5,000 a year
OSFA merit awards for 1st yr students– by March 15
University awards– after May 1
The Admissions Office also offers a limited number of merit-based scholarships to entering freshmen, independent of the scholarship application, based on their Admissions application. Scholarship recipients will be notified via their UNCW addresses by February 1.

10. Private Sources Scholarships Non-federal Loans
Local Organizations and Clubs
Employers of Parents/Students
Scholarship Search Engines (DO NOT PAY)
Non-federal Loans

11. TIPS Start a folder for financial aid documents
Keep award letters, correspondence, etc.
Know your financial aid
Does aid require full-time enrollment?
Is your aid renewable? If so, how?
Has your aid been received?
Apply for Financial Aid EARLY! (FAFSA October 1)
Borrow as little as possible
Start saving now. You could buy books, supplies, and dorm needs with the savings

12. Links to Remember www.fafsa.ed.gov www.studentloans.gov www.cfnc.org
FAFSA & FSA ID Creation
Costs
Scholarships

13. Our Website