1.  Financing Your Education

2. Intro to Financial Aid  Tuition– The cost of enrolling in courses.  Total Cost-Total Aid= What you owe  Types of Financial Aid  Scholarships and grants  Work-study programs  Loans

3. Grants and Scholarships  Scholarships are often based on academic or athletic performance.  Federal Pell Grants and Federal Supplemental Educational Opportunity Grants are “ Free Money ” given to students with “exceptional financial need.”  You do not have to repay grants.  Other organizations and clubs give grants and scholarships to students….  Of a certain gender, ethnicity, or member of a certain club  Who’s parents work for a certain company.

4. Work-Study Program  Many colleges offer work-study programs that provide on- campus jobs for students receiving financial aid.  Most work-study programs are federally funded.

5. Loans  Both students and parents can apply for college loans.  Most college loans have a low interest rate and a generous repayment schedule.  Subsidized loans- The government pays the interest during the school year, and you don’t begin paying back the loan until you leave school. ( You will start to repay this 6 mo. after graduation)  Unsubsidized loans- student loan which you have to begin repaying while you are still in school.

6. Loans Cont.  Direct Stafford Loan- Federally funded student loan that may or may not be subsidized, depending on the student’s financial aid.  PLUS loan- an unsubsidized loan that parents can take out for their children’s education.  Federal Perkins Loan- a low-interest loan for students with exceptional financial need.

7. How much you receive depends on….  Income- Yours and your parents  The number of college students in your family.  Family assets and expenses  The available pool of aid at the school you plan to attend.  The number of students applying for aid in a given year and their financial need compared with yours.

8. How to Apply for Aid  To qualify for any type of government financial aid, you must complete the Free Application for Federal Student Aid FAFSA. (School, library, or U.S. Department of Education Web site.)  To receive non federal aid… many schools require you to fill out the PROFILE form on the College Board’s financial aid program, the College Scholarship Service.  You will need proof of income, mortgage statements, proof of unusual financial hardships…etc.

9. UF cost of attendance