1. Financial Aid 101 Sarah J. Dorsey Assistant Director, Financial Aid
The University of Texas at Dallas

2. Topics The Basics Federal Financial Aid Programs
State Financial Aid Programs
Tips for Students

3. The Basics Federal Financial Aid Eligibility Words to Know
How it Works
The Basics

4. The Basics
In order to be eligible for federal financial aid, a student must be:
Enrolled at least half-time
Enrolled in a degree seeking program
Either a U.S. Citizen or Permanent Resident

5. The Basics Free Application for Federal Student Aid
Nationwide form used to apply for financial aid at public and private colleges, universities
Must apply every year

6. The Basics Student Aid Report
Provides the student with summary information from the FAFSA
Provides the school with information on the student’s eligibility for financial aid

7. The Basics Expected Family Contribution
EFC is used to determine a student’s financial need

8. The Basics Cost Of Attendance Tuition and Fees Room and Board Books
Transportation
Personal/Miscellaneous

9. The Basics FAFSA Free Application for Federal Student Aid
SAR Student Aid Report
EFC Expected Family Contribution
COA Cost of Attendance
POC Piece of Cake !!!

10. The Basics
COA - EFC Need
$ $ 14000

11. www.pin.ed.gov www.fafsa.ed.gov www.fafsa4caster.ed.gov
The Basics

12. Federal Financial Aid Programs
Grants
Federal Work Study
Loans
Federal Financial Aid Programs

13. Federal Financial Aid Programs
Pell Grant
Undergraduate student pursuing a first baccalaureate or professional degree
Award is based on the cost of education, enrollment status and the EFC
Maximum award is the same regardless of the school student is attending

14. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Undergraduate students pursuing first baccalaureate or professional degree
Awarded first to student with “exceptional financial need” (the lowest EFC)
Priority to Federal Pell Grant recipients
Limited funds available

15. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
U.S. Citizen or eligible non-citizen
PELL Grant recipient
Must have completed rigorous secondary school program of study

16. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
Federal Work Study
Jobs are mostly on campus
Students work an average of 10 to 15 hours per week
Hourly rate based on job or institutional policy
Amount of award based on student’s need and available funds at the institution

17. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
Federal Work Study
Stafford Loan
Subsidized
Unsubsidized
Fixed interest rate
‘Delayed repayment of principal
Deferment provisions available

18. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
Federal Work Study
Stafford Loan
Subsidized
Unsubsidized
Perkins Loan
Nine month grace period
Deferment and cancellation provisions available

19. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
Federal Work Study
Stafford Loan
Subsidized
Unsubsidized
Perkins Loan
TEACH Grant
Not need based
Enroll in coursework necessary for teaching career
Meet certain achievement requirements
Must sign an “Agreement to Serve” in a high need field in a low-income school

20. Federal Financial Aid Programs
Pell Grant
Supplemental Educational Opportunity Grant
Academic Competitiveness Grant
Federal Work Study
Stafford Loan
Subsidized
Unsubsidized
Perkins Loan
TEACH Grant
Parent PLUS loan
Parent is the borrower and responsible for repayment
Not need based
Maximum annual loan cannot exceed cost of education minus other financial aid
Fixed interest rate
Origination fees up to 3%
Repayment begins within 60 days of last disbursement

21. state financial aid programs
Senate Bill 1528/House Bill 1403
Grants
state financial aid programs

22. State Financial Aid Programs
Senate Bill 1528/House Bill 1403
Became law in 2001
State legislation designed to help certain immigrant/undocumented students
Student is considered a Texas resident and eligible for state grants
Student must complete paper FAFSA or TASFA
collegefortexans.com

23. State Financial Aid Programs
Toward EXcellence, Access & Success Grant – TEXAS Grant
Texas residents
Graduated from recommended or distinguished high school curriculum
Demonstrate need as determined through the financial aid application process
Funding is limited

24. State Financial Aid Programs
Toward Excellence, Access & Success Grant
Texas Public Education Grant
Public Institutions
Need based
Funding based on enrollment at the institution
Does not transfer from one institution to another
Amount of awards based on available funds and projected number of eligible applicants

25. State Financial Aid Programs
Toward Excellence, Access & Success Grant
Texas Public Education Grant
Texas Equalization Grant
Private Institutions
Need based
Funding based on enrollment at the institution
Does not transfer from one institution to another
Amount of awards based on available funds and projected number of eligible applicants

26. Tips for Students Beware of scholarship scams Apply early
Visit schools
Ask about deadlines
Have a timeline

27. The University of Texas at Dallas
Financial Aid Office 800 West Campbell Road, MC 12 Richardson, TX (972) web: financial-aid.utdallas.edu