Presentation on theme: "Finding Money for College January 17, 2013 San Gabriel Mission High School."— Presentation transcript:
Finding Money for College January 17, 2013 San Gabriel Mission High School
2 We will talk about: Federal student aid State student aid Student aid from colleges Scholarships from other sources
3 We will answer: What is financial aid? Who can get it? How much can your daughter get? How does she apply? What happens next? Where can I get more info?
4 What is financial aid? Money to pay for college or career school –Grants –Loans –Work-study –Scholarships
5 Who can get federal student aid? U.S. citizen or permanent resident High school graduate/GED holder Eligible degree/certificate program Valid Social Security number Satisfactory academic progress
6 Who can get other kinds of financial aid? States, colleges, and private scholarships have their own eligibility criteria. (http://www.csac.ca.gov/) Be sure you know what you need to do to qualify.
7 How much federal student aid can my daughter get? In general, depends on your financial need. Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) EFC comes from what you report on FAFSA COA is tuition, fees, room and board, transportation, etc. COA – EFC = financial need
8 How much federal student aid can my daughter get? Example: first-year student in 2012-13 Maximum amounts allowed: Federal Pell Grant: TBD [$5,500 in 2011-12] TEACH Grant: $4,000 Direct Subsidized and Unsubsidized Loans: $5,500 total Federal Perkins Loan: $5,500 Federal Supplemental Educational Opportunity Grant: $4,000 Federal Work-Study: depends on funds available at school Direct PLUS Loan (for parents): COA minus other aid received
9 How much federal student aid can my daughter get? For early estimate, use FAFSA4caster: Go to www.fafsa4caster.ed.gov Enter some financial information Get an estimate
10 How much state, school, and scholarship money can I get? Depends on the program: do your research! –Our state aid: CAL GRANTS (http://www.csac.ca.gov/) –Ask college financial aid offices for info about aid available at their schools –Free scholarship search: www.studentaid.ed.gov/scholarship
11 How do I apply for aid? Federal student aid: fill out Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov State aid: Cal Grant GPA Verification Forms School aid: contact financial aid office at schools you are considering Scholarships: visit scholarship website or call contact number for information
12 How does my daughter apply for federal student aid? 1.Get a PIN at www.pin.ed.govwww.pin.ed.gov 2.Parents should get a PIN too Your daughter will choose her own PIN or let the site choose one for you Don’t tell anyone the PIN!
13 How does my daughter apply for federal student aid? 3.Fill out your FAFSA online at www.fafsa.gov Apply on or after Jan.1 but as early as possible to meet all deadlines. Need help? Use “Live Help” icon or call 1-800-4-FED-AID. Don’t forget to save or print confirmation page.
14 How does my daughter apply for federal student aid? 4.Watch for response by e-mail, from FederalStudentAidFAFSA@cpsemail.ed.gov, or by mail Double-check your information online at www.fafsa.gov (use your PIN to log on) or on the paper Student Aid Report mailed to you Correct any mistakes and update any information as necessary
15 How does my daughter apply for federal student aid? 5.Watch for e-mails or letters from the schools you are considering Give the schools any additional paperwork they ask for Meet all deadlines or you could miss out on aid!
16 What happens next? Each school will tell you how much aid you can get at that school. Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.
17 Where can I get more info? www.studentaid.ed.gov –Information about aid programs –Free scholarship search –Free college search 1-800-4-FED-AID –Information about aid programs –Help with the FAFSA
CSS Profile The CSS (College Scholarship Service) PROFILE form is a financial aid application produced by The College Board. Many schools use the CSS PROFILE Financial Aid Form as a supplement to the FAFSA. The PROFILE form is used primarily by colleges for determining non-federal financial aid, such as institutional scholarships, grants, and loans. The CSS PROFILE is also more detailed than the FAFSA, focusing on information about the specific programs at schools you will be applying to. 18
CSS Profile Cost of the CSS Profile: –$9 to process and $16 to send to each school Schools and scholarship programs have individual deadlines which span throughout the year, so it's important that you check with your school or program for their submission deadlines. Make sure to complete your application well in advance of each deadline. 19
CSS Profile Create a CollegeBoard Account –In order to file your CSS/Financial Aid PROFILE, you will need to register at CollegBoard.org, or log in if you already have an account.CollegBoard.org Locate Documentation –Just like on the FAFSA, it's beneficial to have financial records on hand when you file. Before you start your application, gather any tax and financial records that you have available. You may also want to complete the pre-application worksheet, available at College Board. Complete the Online Application –Start your application by visiting http://student.collegeboard.org/css- financial-aid-profile.http://student.collegeboard.org/css- financial-aid-profile 20
CSS Profile Click "Register for PROFILE" to begin your application. Note that the application questions may be customized by the schools you're applying to. Once you're done, you will need to enter your payment information before it can be processed. 22