1. Making Cents of Financial Aid
Poinciana High School
Making Cents of Financial Aid

2. 4 Types of Financial Aid FEDERAL FAFSA STATE
FAFSA + Florida Bright Futures
INSTITUTIONAL
Aid from the college itself, check with each college for specific offers
OUTSIDE AGENCIES
Education Foundation, scholarships.com, collegeboard.org, cappex.com, raise.me

3. Financial Aid NOT JUST LOANS!
Definition: Money given, paid, or loaned to help pay for college.
Scholarships
Grants
Loans

4. Basic Equation of Need Budget/Cost of Attendance (COA)
-- Expected Family Contribution (EFC)
= Financial Need (eligibility)
The college will attempt to offer FINANCIAL AID
to meet your calculated FINANCIAL NEED

5. Budget/Cost of Attendance (COA)
Tuition and Fees
Room and Board
Books and Supplies
Transportation
Health Care
Miscellaneous Personal Expenses

6. Expected Family Contribution (EFC)
What is considered in EFC calculation:
Parent and student incomes
Parent and student assets including savings, stocks and bonds, real estate investments, farm or business ownership, and trusts. (not included: family’s primary residence equity and specific retirement funds)
Number of children in family household
Number of children in family attending college

7. State Private CC Budget 20,000 35,000 10,000 EFC = Fin. Need 25,000
(varies)
20,000
35,000
10,000
EFC
(constant)
= Fin. Need
25,000

8. The FAFSA
The FAFSA form is required to apply for
Federal Financial Aid and
Florida Bright Futures
The Pell Grant

9. The FAFSA Go to http://www.fafsa.ed.gov
Register your FSA ID for student and parent – must be different # for parent & student
If you have to pay, you are getting scammed!!!
On-line version: Record your ID numbers (parent & student) in a safe place for future reference.
Remember that Financial Aid deadlines are NOT flexible.

10. You will need… First 2 pages of your Tax Return
Social Security Numbers & birthday dates for parents and student
Marriage/divorce information of parents
Dates of when you began living in FL

11. FAFSA Help Monthly FAFSA on the 1st @ Poinciana High School
Districtwide
FAFSA Nights

12. Other Types of Financial Aid
INSTITUTIONAL
Aid from college or university
Awarded under guidelines determined by institution
Varies by school
Financial need considered, not required
Apply early for greatest opportunity

13. Other Types of Financial Aid
EDUCATIONAL LOANS:
Federally-backed loans:
Subsidized
Interest paid (by taxpayers) while student in school
Lower-than-market interest rates
May be paid in single payment
Repayment starts 6 months after graduation
Unsubsidized
Interest accrued while student in school
Lower interest rates
Can defer repayment until after graduation

14. Loop Holes and Secrets Dual Enrollment:
If able, student takes courses at local college…for FREE
Opportunity for student to graduate with a High School Diploma and Associate’s Degree at the same time
“Community” vs. Traditional 4 Year
Cost factor
Transition into 4 year University

15. Scholarships
scholarships.com
collegeboard.org
cappex.ccom
raise.me

16. Questions
Thank you for your time tonight!