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National Christian College Fairs

National Christian College Fairs. FINANCIAL AID Presented By Katrina l. sartin matano , mba Director of Student Financial Services & Financial Aid Warner Pacific College. Why Choose a Christian College?. Why a Christian college?. High-quality education from a Christian world view

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National Christian College Fairs

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  1. National Christian College Fairs FINANCIAL AID Presented By Katrina l. sartinmatano, mba Director of Student Financial Services & Financial Aid Warner Pacific College

  2. Why Choose a Christian College? Why a Christian college? • High-quality education from a Christian world view • Christian community that emphasizes character development, service and spiritual growth • Preparation for life, as well as a living

  3. Financing a College Education • Combination of resources -- • Family • Federal Government • State Government • College • Private Sources

  4. What is Financial Aid?

  5. Financial Aid Programs • Grants • Federal • State • Institutional • Scholarships • Federal Work-Study • Federal Loans • Student • Parent

  6. Free Application for Student Financial Aid (FAFSA) • Free • Standard form that collects demographic and financial information about the student and family • Used to apply for federal and state grants, work-study and loans • Calculates eligibility for financial aid

  7. How is Financial Aid Determined? www.fafsa.gov

  8. FAFSA4Caster • Early Start! • Experience similar to FAFSA on the Web • Allows transfer of FAFSA4Caster data to FAFSA on the Web • Option to apply early for PIN • Increase knowledge of financial aid process & other sources of aid

  9. What is the Expected Family Contribution (EFC) • Amount family can reasonably be expected to contribute • Federal formula used to calculate EFC, based on FAFSA data • Stays the same regardless of college

  10. Role of the Financial Aid Office • Determines Cost of Attendance (COA) • Evaluates family’s ability to pay & eligibility: • Expected Family Contribution (EFC) • Offers financial aid based on COA & EFC • Distributes resources in an equitable manner • Counsels families on financial issues

  11. Cost of Attendance (COA) • College responsible for determining Indirect Costs Books / Supplies Transportation Personal Expenses Direct Costs Tuition / Fees Room & Board (if on campus)

  12. Financial Aid Formula Cost of Attendance - Expected Family Contribution = Financial Need

  13. Scholarships • College scholarships • Check deadlines and eligibility criteria • OSAC Scholarship Application • February 1, 2013 Early Bird Review & chance to win $500 scholarship • March 1, 2013 final deadline • www.getcollegefunds.org • Use free national scholarship searches • www.finaid.org • www.fastweb.org • Other

  14. Private and Other Sources • Local community organizations • Alternative education loans • Employers • Internet • National and Community Service (Americorps) • Veterans Benefits • Military Service Scholarships (ROTC) • Bureau of Indian Affairs (BIA) Grants

  15. Special Circumstances • Should your circumstances change after you file your FAFSA, contact your college’s financial aid office • Change in employment status • Medical expenses not covered by insurance • Change in parent marital status • Unusual dependent care expenses

  16. Financial Aid Calendar • Year-Round • Scholarship Search • January 1st • Apply for financial aid using FAFSA • March/April • Receive financial aid award letter from college • May 1st • Reply date • Summer • Apply for loans • August/September • Classes begin, financial aid applied to account Senior Year of High School

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