1. Financial Aid Overview Monday Oct. 26th ,2016
WELCOME
Financial Aid Overview
Monday Oct. 26th ,2016
Kahoot
Financial Aid Overview
Thursday Oct. 29th

2. “Completed in 6 years”….. Is there a problem?
College Search

3. Cost of Attendance - Expected Family Contribution
____________________________
= Financial Need

4. Determining Financial Aid Eligibility
Know your Cost of Attendance (COA)
What you get?
the total amount of money that a college or university calculates is required to attend that specific institution.
direct costs
tuition,
books and
fees),
indirect costs
room and board,
transportation and
other miscellaneous education-related expenses
COA
-EFC
Federal $

5. A & M CC - COST OF ATTENDANCE (COA)
Estimated Cost for 9 months 24 credit hours for Fall/Spring
Class of 2017 / 2016
Tuition & Fees $8446 ($7490)
Room & Board $9630 ($9874)
Books & Supplies $1008 ($846)
Miscellaneous $1808 ($1558)
Transportation __ $1168 ($1008)__
$22,060 (*$20,794)
*Grad 2016

6. TSU COA Undergraduate - 15 hours per semester
( )  (9 month) Average Cost of Attendance--Texas Resident* 15 hrs
Budget Item
On Campus
Off Campus
At Home with Parent
Tuition and Fees
$10,200 ($9,940)
Books and Supplies
 $820
$820
Room and Board
$8,110 ($8,100)
$7,260 ($7,250)
$2,110
Personal and Misc.
$1,730
$1,770
$2,200
Transportation
$1,330
$2,140
$4,090
Total
$22,190 ($21,920)
$22,920
($22,190)
$19,420 ($19,160)

7. Contribution Cost of Attendance - Expected Family
____________________________
= Financial Need

8. Amount family can reasonably be expected to contribute.
Stays the same regardless of college.
EFC determines what type of aid the student will receive (i.e. Grants, Scholarships, work-study or loans)

9. What is an Expected Family Contribution?
= EFC
Individuals in the household
Individuals in college
Student Income
Parent Income
Age of the older parent

10. Need Cost of Attendance - Expected Family Contribution
____________________________
= Financial
Need

12. Rising Scholars
Scholarship
Texas Grant

13. Max Grant $5815 (*$5775) Max EFC $5235 (*$5157)
Federally funded grant that is awarded to students who have need, and meet financial requirements.
Intended to help lower the out-of-pocket costs of college tuition for financially struggling families
(*Class of 2016)

14. Renewable w/GPA of 2.5 & 24 credit hrs / yr
Up to $8722 ($8480) per year
Renewable w/GPA of & 24 credit hrs / yr

15. II. Advanced Math First priority students awarded requirements:
EFC less than $5088 & meeting 2 of the 4 categories below
I. Advanced Academic Programs
Earn 12 hours of college credit courses (e.g. dual credit, AP); or
Graduate under the Distinguished Achievement High School Plan or
Graduate under the International Baccalaureate High School Program.
II. Advanced Math
Complete a math course beyond Algebra II

16. III. Class Standing IV. College Readiness
Rank in top 25% of high school class;
Attain a B average GPA (e.g. 3.0 GPA on a 4.0 scale)
IV. College Readiness
Achieve college readiness threshold as determined by the Texas Success Initiative (TSI) (e.g. THEA, COMPASS, or
Be TSI exempt (e.g. meet minimum score on SAT/ACT, TAKS).
Meet state priority deadline- March 15, 2016

17. Texas Grant Eligibility
301

18. Federal College Work Study
State College
Work Study
Community
Service
Jobs

19. FEDERAL DIRECT STUDENT LOAN
RATES FOR
Federal student loans for college or career school are an investment in a student’s future.
Help cover the costs of higher education at a college or career school
Subsidize loan
Unsubsidized loan
PLUS loan
Variable-Fixed rate at 3.76 % (*4.29%)
Interest begins after first disbursement
No payment until after graduation.
Variable-Fixed rate at 6.31% (*6.84%)
Interest begins after first disbursement
No payment until after graduation.
Variable-Fixed rate at 3.76 % (*4.29%)
No interest
No payment until after graduation.
(*2016 grad)

20. College students and parents: What you need to Know about FAFSA EARLY FAFSA You’ll be able to submit your FAFSA earlier. You can file your FAFSA as early as Oct. 1st, 2016 rather than beginning on Jan. 1st, The earlier submission date will be a permanent change , enabling you to complete and submit a FAFSA as early as October 1 every year.

21. How will the changes benefit me?
Because the FAFSA will ask for older income and tax information you will have already done your taxes by the time you fill out your FAFSA.
Because you’ll already have done your taxes by the time you fill out your FAFSA you may be able to use the IRS Data Retrieval Tool
Because the FAFSA is available earlier, you may feel less pressure due to having more time to explore and understand your financial aid options and apply for aid before your state and your schools deadlines.

22. Create FSA ID & Password

23. Financial Aid Process
Summary

24. 1st Get Your FSAID https://studentaid. ed
IF you are a parent of a dependent student:
you will need your own FSA ID if you want to sign your child's FAFSA electronically.
If you have more than one child attending college, you can use the same FSA ID to sign all applications.
Please note: Each FSA ID user must have a unique e- mail address.

25. FAFSA4caster
FAFSA4caster will help you understand your options for paying for college.Provide some basic information and we'll estimate your eligibility for federal student aid. Your estimate will be shown in the "College Cost Worksheet" where you can also provide estimated amounts of other student aid and savings that can go towards your college education.Go ahead and get started now! If you need help for a question, read the Help and Hints on the right.
click on FAFSA4caster to use the tool
Get all your information at FAFSA.gov      (NOT  .COM)

26. FAFSA.GOV Electronically sign your (or your child's) FAFSA.
Website
What You Can Do at the Site:
Electronically sign your (or your child's) FAFSA.
Import your tax information from the Internal Revenue Service.
Prefill data in this year´s FAFSA if you filed a FAFSA last year. That's called filling out a Renewal FAFSA.
Make online corrections to an existing FAFSA.
View or print an online copy of your Student Aid Report (SAR).

27. FAFSA .GOV https://fafsa.gov/

28. What happens Next?
Student Aid Report

29. The state has programs for students who:
Were in foster care
Were adopted (after age 13)
Were the highest ranking scholar for their school
Are blind or deaf
Are Texas Veterans (Hazelwood)
Visit for fact sheets & links to other higher education resources for students

30. Welcome your audience and introduce yourself.
Explain how long you expect the presentation to last.
Encourage questions. Prior to starting the presentation, decide whether to invite questions at any point throughout the presentation or to ask the audience to hold questions until the very end. Share your preference for questions with your audience.

31. Financial aid is intended to make a college education available to families in a number of different financial situations; everyone qualifies for something.
Income is only one of many factors considered.
A growing number of institutional and private scholarships require that students fill out the FAFSA as part of their application process.

32. If your parent(s) are still alive, federal guidelines require that biological parent’s information be used to fill out the Free Application for Federal Student Aid (FAFSA) unless someone else is your legal guardian.
Guardianship as determined by a; Judge or court of law in your state of residence. Student may file as an independent.

33. A student is NOT considered independent between the ages of unless they are married, a veteran, have children and provide 50% of support to the child, are in legal guardianship, or have been declared a homeless/unaccompanied youth (proof needed).
A student filing their own taxes does not make them independent.
A student living separate from their parents does Not automatically make them independent.

34. Step-parent's information must be included on your financial aid application if you lived in the step-parent's household for 6 weeks (42 days) or more during the previous or current year or if a step-parent contributed more than $750 in "support" during the previous or current year.
"Support" means money for such things as housing, food, clothing, transportation, medical care and school.

35. Welcome your audience and introduce yourself.
Explain how long you expect the presentation to last.
Encourage questions. Prior to starting the presentation, decide whether to invite questions at any point throughout the presentation or to ask the audience to hold questions until the very end. Share your preference for questions with your audience.

36. Examples of corporate scholarships:

37. Tips for finding scholarships:
PRIVATE SCHOLARSHIPS
Tips for finding scholarships:
Parent & student’s employers
Student’s middle school and elementary.
Reputable Scholarship Programs
Local community & church organizations.
Websites offering scholarship searches:
Fastweb.com
AIE.org
gmsp.org