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Senior Financial Aid Classroom Presentation

Senior Financial Aid Classroom Presentation. Money doesn’t grow on trees…. Example of how much it costs to attend a CSU…. Cost of attendance ( COA )

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Senior Financial Aid Classroom Presentation

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  1. Senior Financial Aid Classroom Presentation Money doesn’t grow on trees…

  2. Example of how much it costs to attend a CSU… • Cost of attendance (COA) • Each college has its own student COA. Costs can include: Tuition and fees, books and supplies, housing, transportation and personal expenses. • Expected family contribution (EFC) • The amount of money the government believes you or your family could reasonably contribute toward your education Your Cost of Attendance - Your Expected Family Contribution (taken from the FAFSA) = Your demonstrated financial need From: www.csumentor.edu/faq/finaid_costs.asp

  3. What is Financial Aid? • Funds provided to students to help pay for postsecondary education expenses. • Financial Aid includes: • Grants • Work Study • Loans • Scholarships

  4. What are Grants? • A grant is FREE money. • Types: • A Pell Grant is federal free money. • FAFSA required • BOG (Board of Governors) at Community College- covers tuition. • Apply through Community College website.

  5. Cal Grant • Cal Grants are State free monies, used for tuition and/or other fees. • Cal Grant A, B, C • Grants can be used at a four year college or two year college or a technical school. • Start with the FAFSA or California Dream Act application. • We submit your GPAs electronically. • High School graduation confirmation required. Students can confirm online by using WebGrants for Students: www.webgrants4students.org • There’s a new grant program: Middle Class Scholarship Program (CSAC will notify students if they are eligible).

  6. What is WORKSTUDY? • If eligible for Workstudy- Contact the college Financial Aid Office for list of jobs that qualify. • Must apply to a job on the list. • Examples of jobs are: jobs on campus, in the library, bookstore, etc. • The student is not required to pay taxes for this type of work.

  7. What are LOANS? • Money that MUST be paid back. • Must be enrolled at least half time. • Types of LOANS: • Student Subsidized Loan: government picks up the interest on the loan while the student is in school. • Student Unsubsized Loan: government doesn’t pay the interest on the loan. You can begin to the pay the interest as soon as you borrow the money or you can put it off paying while in school, just note that the interest will be added to what you borrowed. If you pay the interest while in school, you’ll pay less. • Parent Loans- Federal PLUS loans: parents start making payments right away.

  8. Scholarships • FREE Money • Must apply, no limit on how many you can apply to. • Most require letters of recommendation. • Eligibility requirements vary (for example some are based on GPA, talents, financial need, major, extracurricular activities, community service, ethnicity, church, etc…)

  9. Steps to get Financial Aid • Apply for a PIN number (student and parent): www.pin.ed.gov • Fill out the FAFSA and submit by March 2nd of every year while in school. www.fafsa.gov • FAFSA Bridge: after completing the FAFSA- on the confirmation page, click on the optional feature to start the state application which will provide information on CA grant programs you may qualify for. • Receive your SAR (Student Aid Report), verify information and make corrections if needed. • Receive Financial Aid Award notification from each college you were accepted to. FAFSA: can submit from January 1st to March 2nd. Financial Aid is distributed on a first come, first serve basis…apply soon!

  10. California Dream Act Application • Who can apply: • The California Dream Act Application is for students who meet the qualifications of AB 540 • An eligible AB 540 student is a student who: • Attended a CA high school for 3+ years • Graduated from a CA high school or the equivalent • Enrolls in an accredited CA college or university • Must be enrolled at least half time • Maintain satisfactory academic progress • In case of student without lawful immigration status, filed an affidavit with institution stating that he/she has filed an application to legalize status or will file as soon as he or she is eligible • Website: www.caldreamact.org

  11. Upcoming evening events to get more help… • LRHS Financial Aid Night • When: Tuesday, Dec. 10th • Time: 6:00pm-8:00pm • English Presentation: LRHS Auditorium/Cafeteria • Spanish Presentation: LRHS Library • Cash for College Workshop: work on the FAFSA or CA Dream Act Application, do their workshop exit survey, submit FAFSA or CA Dream Act Application by March 2 and you may be eligible for a $1000 scholarship. • Wednesday, Feb.5th • 4:00pm-7:00pm • Hosted at GHS…sign up if you’re interested in attending.

  12. Important Websites Cal Grant (www.csac.ca.gov ) • 1-888-224-7258 • www.webgrants4students.org FAFSA • www.fafsa.gov • 1-800-433-3243 PIN www.pin.ed.gov CSS Profile (for some Private Colleges) https://profileonline.collegeboard.com/prf/index.jsp SCHOLARSHIP www.fastweb.com

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