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South County Cal-SOAP

South County Cal-SOAP . Parent Financial Aid Night. Average Cost of Higher Education. Community Colleges- $12,00 –$18,583 CSU- $14,000 - $22,000 UC- $19,000 - $26,000 Private Schools- $18,000 and $48,000. Types of Financial Aid . GRANTS (Gift Assistance) ‏

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South County Cal-SOAP

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  1. South County Cal-SOAP Parent Financial Aid Night

  2. Average Cost of Higher Education • Community Colleges-$12,00 –$18,583 • CSU- $14,000 - $22,000 • UC- $19,000 - $26,000 • Private Schools- $18,000 and $48,000

  3. Types of Financial Aid GRANTS (Gift Assistance)‏ FEE WAIVERS (Gift Assistance SCHOLARSHIPS (Gift Assistance)‏ Sources: Private Institutional Foundations LOANS (Must be repaid)‏ COLLEGE WORK-STUDY

  4. ONLY ONE TRUE WEBSITE!!!! REAL and TRUE WEBSITE www.fafsa.ed.gov FAKE Website www.fafsa.com

  5. Important Dates!!! Cash for College @ Live Oak Library Wednesday - January 20, 2010 (6-8pm)‏ Deadline for FAFSA & Cal-Grant Tuesday - March 2, 2010

  6. Parent & Student Personal Identification Numbers (PINS)‏ • Electronic signature to complete FAFSA application online. • To apply for a PIN, log on: www.pin.ed.gov • You can choose how to receive your PIN: View on-line Email Postal Mail

  7. Basic Eligibility for Federal Student Aid • U.S. citizen or Permanent Resident • Social Security Number • High school diploma, GED, or equivalent. • Demonstrate financial need (according to FAFSA). • Selective Service (males only). • Eligible degree or certificate program. • Good academic progress.

  8. What is Federal Student Aid? • GRANTS • WORK STUDY • LOANS

  9. Federal Pell Grants • Need-based grants to eligible low-income undergraduate students • $5350 (2009-10 max. award) • This grant will range depending on the school of attendance.

  10. FederalCollege Work Study • Eligible students can earn part of their financial aid through working on or off campus. • 15-20 hrs per week • Obtain experience working in a career-related or community service employment.

  11. Subsidized Stafford Loans • Must have financial need. • 6.8% fixed interest rate (for 2010-11). • The federal government pays the interest: • Must be enrolled half time or more • Grace period of 6 six months after graduation, withdrawal, or enrolled in less than half time.

  12. Unsubsidized Stafford Loans • For eligible students, regardless of their financial resources. • The student is responsible for paying the 6.8% (fixed) interest that accrues at the time loan is processed. • It’s to student’s advantage to pay the interest while attending in school in order to avoid loan debt increase.

  13. Federal Parent PLUS Loans • Loan borrowed by parents to help pay for students college costs. • Interest rate is fixed at 7.9% or 8.5% depending on the loan program and college/university of student’s attendance. • Amount borrowed depends on credit eligibility and college costs. • Can borrow the total amount of undergrad study minus any aid received.

  14. Private Loans • Loan to be considered if grants and Federal student loans do not cover all college costs. • Loan amount and interest rate are based on credit eligibility of students or parents. • Interest rate is higher than federal student loans. • Eligibility = College cost minus grants, federal student loans, and/or other financial aid resources have been subtracted

  15. Types of Grants GRANTS (Gift Assistance)‏ • Pell Grants • Cal-Grants: A, B, C • College or University Grants • ACG & SMART Grants • Chafee Grant • Child Development Grant • Law Enforcement Personnel Dependents Grant

  16. Cal Grant A • Free money for low-to-middle-income families • California schools • Renewable to 4 years of full-time study • Minimum GPA = 3.0 • Tuition/Fee Awards by institution: • CSU: $4,026 • UC: $7,788 • Independent: $9,708 • California Community College Reserve

  17. Cal Grant B • Students from lower-income families. • Renewable up to 4 years of full-time study. • Provides a living allowance of $1551 & tuition and fees • Minimum high school GPA = 2.0 • Community College Students: $1,551 • University students: Tuition/Fee Awards by institution: • CSU: $4,206 for tuition + $1551 • UC: $7,788 for tuition + $1551 • Independent: $9708 for tuition + $1551

  18. Cal Grant C • Assists low-to-middle-income families with costs of a technical or career education. • Up to 2 years of full-time study. • Vocational/technical program at least 4 months in length. • University Students: Tuition & Fees of $2,592/year • Community College students: $576/year for books & supplies

  19. What’s Great About Cal Grants? • Renewable • Transfers with the student from a college to a university. • Value of tuition/fees changes depending on the attending school. • Graduating high school students are ENTITLED to an award if they meet the eligibility & income requirements.

  20. How Do Students Apply for Cal Grants? File a 2009-2010FAFSA & A Cal Grant GPA Verification form by March 2, 2010 Log on to: www.csac.ca.gov

  21. Scholarships • Scholarships = FREE MONEY!! • Merit based scholarships (academic performance)‏ • Need based scholarships (financial need). • Scholarship funds come from: • Colleges/Universities • Foundations, Companies • Individuals • Community-Based Organizations Deadlines will vary depending on the scholarship.

  22. Scholarships • Involve a separate application process. • Scholarships are usually released in Fall. • Deadlines vary (from late fall to early spring). • Personal Statement may be required. • Letter of Recommendation (from teacher, academic counselor, mentor, supervisor, etc.) may be required. • Transcripts may be requested. • Finalists may be interviewed by panel.

  23. Other Places In your school’s career center. In the financial aid office of the college you have applied to. 2010-2011 Fund Your Future Brochure. Where Can Students/Parents Find Scholarships? Online • Fast WEB • www.fastweb.com • Mach25 • www.mach25.com • CollegeBoard • www.collegeboard.com/pay • Petersons • www.petersons.com • South County Cal-SOAP www.southcountycalsoap.org • SRN Express • www.srnexpress.com • www.maldef.org

  24. Important Dates • January 1st: Begin applying for FAFSA • March 2nd: Priority filing deadline to apply for Cal Grants. FAFSA and Cal Grant GPA Verification form must be completed.

  25. Can you file a FAFSA after March 2, 2010? • YES. • However, you will not be considered for a Cal Grant for the 2009-10 academic year. • To be considered for a Cal Grant, students & parents must file 2010-11 FAFSA before March 2, 2010.

  26. Cash for College Workshops • Morgan Hill - Wed, Jan. 20, 2010 -Live Oak High School Library -6-8 pm • Gilroy High School -Thurs., Jan. 28, 2010 (room H2 &H3) - noon-6 pm by appt/ 6 – 8 pm drop-in • San Benito High School -Mon., Jan. 25 (room 477 & 482) - noon-6 pm by appt/ 6 – 8 pm drop-in

  27. Paper FAFSA FAFSA Application on the Web FAFSA Processor (copies your information and enters it electronically) DATA Matches -Social Security -DHS -Selective Service -Veterans Affairs Central Processing System (CPS) -Student Aid Report (SAR) EFC- (estimated family contribution) Sent to students email ISIR EFC- (estimated family contribution) Sent to Colleges and Universities Colleges and Universities -make financial aid packages for students and send via email/mail Students accept package What happens after applying for FAFSA?

  28. Questions?

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