1. cIcu Meeting (www.nycolleges.org) October 22, 1998 “Financial Aid 101” Dr. Keith Jepsen NYU Director, Financial Aid (www.nyu.edu/financial.aid) Adjunct Assoc. Professor of Higher Education Graduate School of Education course: “Financing Higher Education” (www.nyu.edu/classes/jepsen)www.nycolleges.org NYUwww.nyu.edu/financial.aidwww.nyu.edu/classes/jepsen

2. Financial Aid 101 in New York Form -- the process Formula -- who gets what So What? -- discussion

3. Financial Aid 101 in New York “Form”--the process cIcu (www.nycolleges.org)www.nycolleges.org Department of Ed: FAFSA (www.fafsa.ed.gov)www.fafsa.ed.gov NYSHESC (www.hesc.com)www.hesc.com Project EASI (www.easi.ed.gov)www.easi.ed.gov New York Mentor (www.xap.com/xapWWW/DesignStudio/NewYork)www.xap.com/xapWWW/DesignStudio/NewYork Access America for Students (www.npr.gov)www.npr.gov

4. Financial Aid 101 in New York “ Formula”--who gets what Federal methodology for Family Contribution (ifap.ed.gov/csb_html/efcform.htm)ifap.ed.gov/csb_html/efcform.htm TAP grant eligibility (www.hesc.com)www.hesc.com School packaging

5. Family #1 income $10,000 (2 parents, 1 in college) One year of college$33,846 Family contribution0 Still need$33,846 TAP Grant4125 Pell Grant3000 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$23,250 Other sources?$10,596

6. Family #2 income $30,000 (2 parents, 1 in college) One year of college$33,846 Family contribution175 Still need$33,671 TAP Grant3295 Pell Grant2850 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$22,270 Other sources?$11,401

7. Family #3 income $60,000 (2 parents, 1 in college) One year of college$33,846 Family contribution4951 Still need$28,895 TAP Grant275 Pell Grant0 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$16,400 Other sources?$12,495

8. Family #4 income $90,000 (2 parents, 1 in college) One year of college$33,846 Family contribution14,467 Still need$19,379 TAP Grant0 Pell Grant0 NYU Scholarship8500 Stafford loan2625 Perkins loan1500 Work-Study3500 Total financial aid$16,125 Other sources?$3,254

9. Financial Aid 101 in New York Discussion and Reference Unmet need very large Private loans are expensive nysaves.org is good--but too late for “current” students. (www.nysaves.org)www.nysaves.org