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What is Financial Aid?

What is Financial Aid?. Financial aid is money from federal, state and private institutions that's used to pay educational costs. The two most prominent sources of aid are: The Government (Federal and State) Colleges and Universities Additionally don’t overlook:

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What is Financial Aid?

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  1. What is Financial Aid? Financial aid is money from federal, state and private institutions that's used to pay educational costs. The two most prominent sources of aid are: • The Government (Federal and State) • Colleges and Universities Additionally don’t overlook: • Community groups, including religious and civic organizations, professional associations and corporations Billions of dollars in outside scholarships go unclaimed because students don’t apply for them.

  2. Show Me the Money! • Need-Based Grants (FREE MONEY!) • FAFSA & CSS PROFILE • Merit-Based Scholarships • Academic Achievement/Test Scores • Athletics • Talent and Service • Loans • Subsidized and Unsubsidized • Savings • Work • Become a Resident Advisor! • Work Study (Financial Aid)

  3. Financial Aid Worksheet Lingo COA: Cost of Attendance (Includes Tuition, Room & Board, Books and Fees, Transportation) Gap: The difference between how much you and your family can afford to pay and how much the college costs. EFC: Expected Family Contribution. This is determined based on the FAFSA (Free Application for Federal Student Aid)

  4. Local and National Scholarships • Do well academically • Pursue your passions • Become civic-minded • Maintain your resume • Research! Research!

  5. Where to Look! • Aspen High School Counseling Site • Individual College Financial Aid Offices • Local Businesses • Clubs and Churches • The Web in General

  6. Helpful Web Sites • College in Colorado: www.collegeincolorado.com • Scholarships360: www.scholarships360.org • Scholarship Search: www.fastweb.com • FAFSA: www.fafsa.ed.gov • CSS Profile: https://student.collegeboard.org/css-financial-aid-profile • 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

  7. FAFSA The application and correction portions of the live FAFSA on the Web site will be available for applicants to use on Jan. 1st. www.fafsa.ed.gov FreeApplication forFederal Student Aid

  8. Federal Student Aid Pin

  9. Financial Aid Timeline Summer Months • Research scholarships and work on rough draft essays September-December • Complete FAFSA www.fafsa.ed.gov • Complete scholarship applications • If attending college in Colorado, complete COF at https://cof.college-assist.org/ January • Complete and submit FAFSA

  10. Cost of Attendance

  11. 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 $29,000 • Average student credit card debt is $5,400 at graduation • More 21-to-24-year-olds are declaring bankruptcy than graduating from college

  12. Remember! • Prepare • Look • Apply • Never Give Up Have a PLAN to move that mountain!

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