1 / 28

Funding Your Future Financial Aid Overview

Funding Your Future Financial Aid Overview. Topics . Introduction What is financial aid? Sources of financial aid Eligibility r equirements How to apply? What happens after? Where do I get help? Other information. What is financial aid?.

katoka
Download Presentation

Funding Your Future Financial Aid Overview

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Funding Your FutureFinancial Aid Overview

  2. Topics • Introduction • What is financial aid? • Sources of financial aid • Eligibility requirements • How to apply? • What happens after? • Where do I get help? • Other information

  3. What is financial aid? Financial aid are funds provided to students and families to help pay for postsecondary educational expenses

  4. Sources of Financial Aid • Private sources-scholarships • Federal and State Grants • Student Loans • Work Study

  5. Scholarships • Awarded on the basis of skills, gpaor unique characteristic • Free money • Foundations, high schools, businesses, charitable organizations, employers, unions • Deadlines vary

  6. The Cuesta Promise • 2013-2014 SLO County high school graduates • Fall 2014 semester fees covered • Complete the Cuesta scholarship application by March 2, 2014 • Guaranteed to all students who complete the promise steps regardless of income or gpa

  7. Federal Government • Largest source of financial aid • Aid awarded primarily on the basis of financial need • Must complete the FAFSA

  8. Federal Loans -Subsidized -Unsubsidized PLUS- Parent Loan Pell Grant Federal Supplemental Opportunity Grant Federal Work Study Teach Grant Common Federal Programs

  9. Limitations of Federal Aid Programs • Pell Grant 12 full-time semesters • Direct Subsidized Loans 150% of the length of program • To track financial aid history: http://www.nslds.ed.gov/nslds_SA/

  10. California State Grants • Residency requirements • Aid awarded on the basis of both gpaand need • Must complete the FAFSA

  11. Common CA State Programs • AB540 • Cal-Grants • Chafee • University Grants • Middle Class Scholarship • Board of Governors Fee Waiver

  12. AB540 • Allows non-resident students to receive state grant opportunities • Must complete application at college/university • Admissions Office determines eligibility • Student is able to complete the FAFSA or Dream Act application

  13. Cal-Grants • Must submit FAFSA or Dream Act • Students/school must complete a GPA verification form • Verify if your high school submitted your GPA • Visit www.webgrantsforstudents.org • Deadline March 2nd, 2014

  14. Chafee • Available for foster-youth • Must complete an online application • Limited funds

  15. University Grants • Available at private and public universities • Funds may be limited • Follow-up with your school of choice

  16. Middle Class Scholarship Program • New, transfer and returning undergraduate students • California State University or University of California • Family income of up to $150,000 • Complete the FAFSA or Dream Act application

  17. Board of Governors Fee Waiver • Waives enrollment fees at community colleges • You must complete FAFSA or Dream-Act

  18. Eligibility Requirements for Federal and State Aid • Be a U.S. citizen or eligible non-citizen • ***Have a valid social security number*** • Register with Selective Service • High school diploma/GED/homeschooled • Enrolled in an eligible degree or certificate program

  19. How do I apply for 2014-15? • Complete the FAFSA or Dream Act • Apply online www.fafsa.gov or • www.csac.ca.gov/dream_act.asp • Application is available starting January 1st • Colleges may set their own deadlines

  20. Dream Act Application • California application for financial aid • Only for students who do not have a SSN • Students complete this instead of the FAFSA

  21. Frequent Application Delays • Transposed Social Security Numbers • Marital status • Income information • Taxes paid • Household size • Number in college • Asset information missing • Missing student/parent signatures

  22. What happens after? • Student will receive a Student Aid Report (SAR); make corrections • Student will have an Expected Family Contribution (EFC) • School may require student/parent to submit additional documentation

  23. Need Varies Based on Cost

  24. How can I help as a parent? • Complete income taxes early • Use the IRS Data Retrieval Tool • Request IRS Transcripts • Online: www.irs.gov Transcript Type: Return Transcript Phone number: 1-800-908-9946 • Have your son/daughter follow-up with the financial aid office!

  25. Where can I obtain help? • Cash for College Workshops: • Enter in a $1000 Scholarship raffle • February 11th Cuesta SLO Campus February 12th Paso Robles Campus • FAFSA, Dream Act, Cuesta Scholarship Application

  26. Special Circumstances • Change in employment status • Medical expenses • Unusual dependent care expenses • Loss of parent or student income • Any other unusual circumstances that affect a family’s ability to contribute to higher education

  27. Electronic Payments • Students have options to receive financial aid or tuition disbursements: • Receive disbursement on a debit card • Direct deposit into a personal bank account • Request a paper check

  28. Questions? Cuesta College www.cuesta.edu 805-546-3143

More Related