1. Understanding the Financial Aid Process

2. Agenda FAFSA Cost of attendance (coa) College comparison
Types of financial aid
Special circumstances
resources

3. Free application for federal student aid (fafsa)
Interested in financial aid to help pay for college or career school? You will need to fill out the fafsa – fafsa.ed.gov
30 minute online application – 100% free
PROVIDES ACCESS TO GRANTS, LOANS, AND WORK STUDY FROM THE FEDERAL GOVERNMENT
Many colleges use fafsa information to provide their own college or state financial aid
Use the irs data retrieval tool to pull in tax information

4. Fsa id
An fsa id is a username and password you use to access your personal information on Federal student aid websites and to sign important documents.
Create an fsa id: studentaid.gov/fsaid or fafsa.ed.gov
Two fsa id’s are required to sign the fafsa
1. student
2. parent
“HOW TO CREATE YOUR FSA ID” VIDEO -

5. Cost of attendance (coa)
Direct costs (i.e. – tuition, fees, housing & meals (room & board))
Indirect costs (i.e. – books, travel, personal)
Direct and indirect costs combined equal the cost of attendance (coa)
Varies widely from college to college

6. COLLEGE COMPARISON COLLEGE A COLLEGE B COLLEGE C
COA: $50,500 - AID: $25,000 _______________________ Remaining cost: $25,500
COA: $32,650 - aid: $20,000 _______________________ Remaining cost: $12,650
COA: $19,250
- aid: $5,000
_______________________
Remaining cost: $14,250
COMPARE EACH COLLEGE’S REMAINING DIRECT COSTS RATHER THAN TOTAL AID AWARDED.

7. TYPES OF FINANCIAL AID GIFT AID SELF-HELP AID SCHOLARSHIPS GRANTS
Money that does not have to be paid back.
Awarded based on merit, skill, or unique characteristic
GRANTS
awarded based on financial need
LOANS
Money students and/or parents borrow to help pay for college expenses
Repayment usually begins after education is finished
EMPLOYMENT (WORK STUDY)
Allows student to earn money to help pay for educational costs (i.e. – paycheck)
Student may opt whether or not to work and number of hours to work

8. Sources of financial aid
Federal government (i.e. – federal pell grant, teach grant, fseog, direct loans)
State (i.e. – nys tuition assistance program (tap), NYS Grants and scholarships)
College or universities
Private sources
Civic organizations and churches
employers

9. New York state programs
Must be NYS resident and attend a college in NYS
NYS Tuition Assistance Program (TAP) is the largest. Application available through link at end of FAFSA or can be completed at
NYS also has scholarships available
More information available at
EXCELSIOR/ENHANCED TUITION AWARDS
CHECK WITH EACH SCHOOL REGARDING PARTICIPATION
CHECK HESC FOR DEADLINES AND INCOME LIMITS

10. Special circumstances
Change in employment status
Unusual medical expenses not covered by insurance
Change in parent marital status
Unusual dependent care expenses
Student cannot obtain parental information
Cannot be documented using FAFSA
Contact financial aid office at each college to explain situation and determine if supporting documentation is needed
Decisions are final and cannot be appealed to U.S. Department of Education

11. Net price calculator Required of all colleges by federal regulations
A net price calculator is a free online tool that gives you a personalized estimate of net price (sticker price – grants, scholarships, other aid = net price)
Answer each question as accurately as possible. The more accurate the numbers you provide are, the more accurate the result.
A starting point, not the end result

12. resources Financial aid Government sources https://fafsa.ed.gov
Americorps –
Veteran’s Benefits –
ROTC scholarships or stipends
Bureau of Indian Affairs –
NYS Access–VR (Vocational Rehabilitation) –
U.S. Dept. of Health and Human Services
(HHS) –

13. Helpful tips File the fafsa early – October 1st of senior year
Use the irs data retrieval tool on the fafsa
search for outside scholarships
Review/make note of special scholarship deadlines
Take responsibility/ask questions
Be aware of FERPA (privacy laws)
Make self-service your best friend!

14. questions Brittany Zeager Assistant Director of Financial Aid
St. John Fisher College
3690 East Ave
Rochester, NY 14618
(585)