1. Casey Comings Admissions Representative Grand Canyon University
Financial Aid 101
Casey Comings
Admissions Representative
Grand Canyon University

2. Agenda Types of Financial Aid FAFSA Cal Grant Information
Award Letters

3. Types of Financial Aid Scholarships Federal Financial Aid Loans Grants
Work Study

4. Scholarships

5. Types of Scholarships Institutional Scholarships Private Scholarships
Funding from the university
Ask about the eligibility requirements
How to apply?
Are they based upon need?
Are they renewable?
Private Scholarships
Funding from outside organizations- not university specific
How do I receive this scholarship award?
Is this scholarship renewable?
Do I receive the scholarship money or does the university?

6. GCU FRESHMEN ACADEMIC SCHOLARSHIPS
Chancellor Scholarship ($9,750 per year)
Minimum incoming 4.0 GPA (un-weighted)
President Scholarship ($7,750 per year)
Minimum incoming 3.9 GPA (weighted) or SAT: 1350 (Reading and Math) / ACT: 31
Provost’s Scholarship ($6,750 per year)
Minimum incoming GPA (weighted) or SAT: 1225 (Reading and Math) / ACT: 27
Dean Scholarship ($5,750 per year)
Minimum incoming GPA (weighted) or SAT: (Reading and Math)/ ACT: 24
Faculty Scholarship ($5,000 per year)
Minimum incoming GPA (weighted) or SAT: 1050 (Reading and Math)/ ACT: 22
Antelope Scholarship ($3,750 per year)
Minimum incoming GPA (un-weighted) or SAT: 1000 (Reading and Math)/ ACT: 20

7. CCSC Scholarship
Available to all admissible graduates from Berean Christian
5,000 per academic year for on campus
2,500 per academic year for off campus
Renewable for up to 4 years or the number of years the student attended Berean Christian for high school

8. GCU Grants Priority Registration Grant* $500 per year
Computer Science/Information Technology/Engineering
Program Grant**
$1,000 per year
*, ** these grants are awarded on a first come first serve
basis to those students who qualify. There are a limited
number of these available.

9. Sources for Outside Scholarships
Ask your employer about tuition assistance benefits
Your parents’ and relatives’ employers
Church or volunteer groups
Performance Awards
Opportunities within your school district
Clubs
ROTC
Athletics

10. Free Scholarship Websites

11. Student and Parent Loan Options

12. Student Loans Stafford Loans Subsidized Unsubsidized Alternative Loans
Parent Plus
Offered at some local banks and private organizations
Credit Based
Co-Signer may be needed

13. Grants Need Based Federal-Pell Grant Cal Grant
Federal-Supplemental Educational Opportunity Grant (FSEOG)
Teacher Education Assistance for College and Higher Education Grant (TEACH)

14. Applying for Federal Financial Aid
What does FAFSA stand for?

15. Personal Identification Number (PIN)
First Step:
Apply for a PIN
Go to
Parent and student need to apply for a PIN
Free to apply
Why do I need a PIN?
Sign FAFSA electronically

16. Free Application for Federal Student Aid (FAFSA)
Apply after January 1st
What do you need?
Current Tax Information
Social Security Number
Driver’s License Number
PIN Number
Application available at:

17. Independent vs. Dependent Status
What’s the difference?
Independent Status
Must be 24 or older
Enlisted or veteran of the U.S. military
Married
Have children or dependents
Working towards your Master’s or Doctoral degree
Deceased Parents or Ward of the State
Unaccompanied youth or homeless
If you do not meet the above requirements, you are a “Dependent Student”

18. IRS Data Retrieval Tool (DRT)
Enter Tax Information
IRS Data Retrieval Tool (DRT)
Enter personal information
Use DRT tool to import most recent tax information
Double check for accuracy

19. Electronically Sign
Use your PIN to electronically sign your FAFSA Application
Parent will use PIN to electronically sign

20. What is an EFC? What does it mean to me?
Confirmation Page
What is an EFC? What does it mean to me?

21. Calculating Financial Need
Basic Equation of Need:
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
=Student’s Financial Need (eligibility)

22. Cost of Attendance Tuition and fees Room and board Books and supplies
Transportation
Miscellaneous personal expenses
May cover cost of computer
May also include other expenses

23. Expected Family Contribution
Need Analysis is the formula used in determining a family's EFC
EFC is the measure of a family's financial strength

24. Calculating Eligibility
Federal EFC will be the same for all schools – awarding of all federal aid must be based on the federal EFC
Federal FA eligibility varies because COA varies
Some schools may use institutional methodology to award their own institutional funds

25. What happens after I submit my FAFSA Application?
FAFSA Application can be sent to up to 10 colleges or universities
Two weeks to process FAFSA application
Follow up and send information that is requested

26. Verification Process Am I selected for FAFSA Verification?
Random selection process
Requires the student to provide additional documentation before application and awards can be processed
Dependency Verification Worksheet
Source of Income Worksheet
Asset Verification Worksheet
Don’t procrastinate! This process can take 6-8 weeks to process.

27. Parent PLUS Loans To apply, visit www.studentloans.gov
Credit based loan application for parent to complete
Loan can be used to assist student with tuition and fees
Repayment begins 60 days after loan is disbursed

28. Entrance Interview (EI) Master Promissory Note (MPN)

29. Filing Tips
Apply for PIN(s) now at pin.ed.gov with addresses for both student and parent
PIN(s) disabled after 18 months of inactivity (can be used in subsequent years – keep in safe place)
Beware of spam blocker software. To ensure delivery, add the address listed online to your address book
Apply early – institutions may run out of funds for late filers

30. Filing Tips Gather necessary docs ahead of time
Complete a FAFSA worksheet
Check browser requirements
Allow ample time to complete (do not begin on March 1st )
Save all work periodically
Print out a copy before submitting electronically
Keep a copy of the Submission Confirmation Page

31. Filing Tips
Parents with multiple children in college may transfer their information to an additional application
Do not log out before transferring info to a new FAFSA
Can only transfer once
Each student needs own PIN and , but parents need only one PIN and one address

32. Federal Work Study (FWS)
Student worker position on campus
FWS jobs found in Career Services Office
Weekly hours and wage pre-determined based on eligibility
Ask your financial aid office about eligibility and if you qualify!
How is this different from any other student worker job on campus?
FWS jobs are government funded
Non-FWS jobs are college or university funded

33. Cal Grants

34. Cal Grant
Student Help Line contact number 888.CA.Grant/ (not 888.Cal.Grant, please)
Deadline: MARCH 2nd
Cal Grant A, B, C
Renewable and portable
Adjustable with school attended
Recent HS grads are “entitled”

35. Cal Grant Eligibility Requirements
Submit FAFSA and GPA Verification by March 2nd
Meet eligibility for income/asset ceilings showing financial need – determined by FAFSA
Meet GPA requirements
Have high school diploma or equivalent
Be California resident
Be US citizen or eligible non-citizen
Attend an eligible California school
Be enrolled in college at least half-time
Have not earned a bachelor’s degree
Not be in default of federal student loan

36. Cal Grant Minimum GPA Requirements* Cal Grant A - 3.0
Cal Grant B - 2.0
Cal Grant C - No min
*GPA based on sophomore and junior years

37. Cal Grant A
Low to middle-income families (family size of four, $87,400)
Minimum H.S. GPA 3.0
Eligibility for up to 4 years full-time; may be extended to 5 years for mandatory 5 year programs or a teaching credential
Covers tuition/fees at UC and CSU
(UC - $12, CSU - $5,472)
Independent - $8,056/year
Held in reserve while attending CC
BA/BS programs only

38. Cal Grant B
Students from lower income families (family size of four, $45,900)
Minimum GPA 2.0
Eligibility up to 4 years full-time study
1st year - $1,473
Subsequent years - $1,473 plus tuition/fees same as Cal Grant A
AA, BA/BS, and Certificate

39. Cal Grant C
Low to middle-income families (family size of four, $87,400)
No minimum GPA
AA and Certificate programs (vocational/technical)
Course of study must be at least 4 months and may be up to 2 years
Required supplemental application sent after FAFSA
Tuition and fees up to $2,462/year

40. Cal Grant
California Aid Report (CAR) ed as soon as student eligibility is determined; response from
Letter sent if no address provided
If corrections made to SAR, processed by Cal Grant and eligibility will be re-calculated
No notification if deadline missed

41. Middle Class Scholarship
Family incomes up to $150,000
Attend UC or CSU campus
(no private schools included)
Must file FAFSA to apply

42. Summary of the Process
Submit all required forms, including FAFSA, by each college’s published deadlines (no later than March 2)
By March 2, submit a Cal Grant GPA Verification Form (Mrs. Miller has electronically submitted with parental written permission)
Keep a copy of all forms submitted
Review Student Aid Report - SAR
Review California Aid Report -CAR

43. Summary of the Process
Watch for financial aid award notifications from colleges to which the student has been admitted
Apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible
Ask questions

44. Awarding FA offered to admitted students
Institutions have different awarding policies
Award letters may list: amount of award, COA, EFC, need and unmet need, period of enrollment covered, terms and conditions of awards
Response may or may not be required

45. FAFSA Contact federalstudentaidcustomerservice@ed.gov
1 (800) [Excellent Response]
Live “Chat” at

46. Contact Information:
Casey Comings
Grand Canyon University
Phone