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District 51 Financial Aid Overview

District 51 Financial Aid Overview. Curt Martin Colorado Mesa University. Show Me the Money!. Need-Based Grants Merit-Based Grants Academic Achievement Athletics Talent Community Service Only applicant Loans Savings Work. Prepare!. Things to gather for need – based aid

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District 51 Financial Aid Overview

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  1. District 51 Financial Aid Overview Curt Martin Colorado Mesa University

  2. Show Me the Money! • Need-Based Grants • Merit-Based Grants • Academic Achievement • Athletics • Talent • Community Service • Only applicant • Loans • Savings • Work

  3. Prepare! • Things to gather for need – based aid • Name, SSN, DOB • Federal Tax forms • Other Income • Assets • Find Out the cost of the college

  4. Cost of Attendance

  5. Preparing for Scholarships • Do well academically • Join Groups • Become civic-minded • Keep a diary

  6. Look! • High School Guidance Counselor • College Web Sites • College Financial Aid Offices • Local Businesses & Banks • Your Place of Employment (Parents Too) • Clubs and Churches • Magazines, Newspapers, TV, Soda Cans, Wrappers • The Web in General

  7. Student Debt Is Real • So smart, so successful – so broke? • Don’t become a statistic! • For students ages 18-24, one-third of their income is spent on debt • Average student loan debt is $26,500 (not counting private loans) • Average student credit card debt is $4,100 at graduation (2009) • More 21-to-24-year-olds are declaring bankruptcy than graduating from college

  8. What’s your Plan? • Starting Salary: $40,000 per year • Take Home: $2400 per month (after taxes, medical insurance, retirement) • Payments: Rent ($750) Student Loan ($225) Car payment ($400) Utilities ($350) Credit Card ($125) Food ($350) Insurance ($150) Emergencies ($ 50) (dates, clothes, etc.)

  9. Financial Aid Process January – March • Complete FAFSA www.fafsa.ed.gov • Complete scholarship applications • If attending college in Colorado, complete COF at https://cof.college-assist.org/ • Verification documents requested by college

  10. Financial Aid Process April – July • Award notification sent to student • Complete Master Promissory Note (MPN) and loan entrance counseling https://studentloans.gov/ • Parent needs to complete credit check and MPN for Parent Loan for Undergraduate Students (PLUS)

  11. Financial Aid Process August – October • Check in with Financial Aid office to verify that everything has been completed • Financial Aid will be disbursed either 3 days before class or 2 weeks after classes start November – December • Search for scholarships for next academic year • Repeat process each year

  12. Time to Split

  13. Financial Aid FAFSA Overview Curt MartinFinancial Aid Director

  14. PIN • www.pin.ed.gov • Useful as an e-signature for FAFSA completion • Parent and student may both apply for PIN

  15. Fafsa.gov

  16. Student Identifiers

  17. My FAFSA Page

  18. My FAFSA Page

  19. Introduction Page

  20. Student Information and Hints

  21. High School Question

  22. School Selection Step

  23. Dependency Status

  24. Parental Determination

  25. Parent Financial Information

  26. FYI • IRS data retrieval • Also available for Corrections • Available starting February 15th–28th • Electronically filed tax return information will be available from the IRS in 1-2 weeks, data from paper tax returns will be available in 6-8 weeks.

  27. IRS Data Retrieval • Once the applicant has successfully authenticated, tax data will be presented and the applicant will have the option to “Transfer” the tax information to the FAFSA • Transferred data will have a notation - “Transferred from the IRS”

  28. Additional Income Information

  29. Assets and Net Worth

  30. Student Financial Information • Same as parent information, only students financial information

  31. Sign & Submit

  32. Helpful Web Sites • College in Colorado: www.collegeincolorado.com • Scholarship Search: www.fastweb.com • FAFSA: www.fafsa.ed.gov • PIN: www.pin.ed.gov • MPN: www.studentloans.gov • U.S. Department of Education: www.studentaid.ed.gov • General financial aid information: www.finaid.org

  33. FAFSA Help • Central High School February 7, 2013 Library, 6:30-7:30 • FruitaMonument HS February 11, 2013 Library, 6:30-7:30 • Palisade High School February 12, 2013 Library, 6:30-7:30 • Grand Junction HS February 13, 2013 Room 110, 6:30-7:30 • College Goal Sunday - Colorado Mesa University February 10, 2013 ACB – 2nd Floor 11:00-2:00

  34. Questions? • Colorado Mesa University Financial Aid Office: • 1-800-982-MESA (Main Line) • (970) 248-1396 (Financial Aid) • www.coloradomesa.edu/finaid • Financial Aid Counselors: • Ashlee Caddy • Jim Ciha • Patty Diekman • Rose Willett • Carol Lawrence • Sally Schuman • Heidi Waggoner

  35. Thank You

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