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Glow Foundation 2010

Glow Foundation 2010. College Financial Planning Workshop I: FAFSA and Financial Aid 101. Introduction / Icebreaker!. What We Will Discuss Today. Costs and Benefits of College How Financial Aid Works – FAFSA Scholarships, Grants, Work Study and Loans AB 540 Support Financial Aid Review.

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Glow Foundation 2010

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  1. Glow Foundation 2010 College Financial Planning Workshop I: FAFSA and Financial Aid 101

  2. Introduction / Icebreaker!

  3. What We Will Discuss Today • Costs and Benefits of College • How Financial Aid Works – FAFSA • Scholarships, Grants, Work Study and Loans • AB 540 Support • Financial Aid Review

  4. THE PRICE IS RIGHT!

  5. College Costs HOW MUCH??! SAN FRANCISCO STATE UNIVERSITY: • California State University • Less intense application process • Moderate class sizes • Practice-based learning • Gets you ready to work after you graduate • More affordable than UCs and private colleges • Actual Cost of Attendance: • $22,830

  6. College Costs HOW MUCH??! UNIVERSITY OF CALIFORNIA, BERKELEY: • Part of the UC system • High reputation • High student-to-teacher ratio • Research-based learning • Gears you toward graduate school • Expensive tuition • Actual Cost of Attendance: • $26,473

  7. College Costs HOW MUCH??! Comparison of Cost of Attendance by Type of School for the 2009-2010 Academic Year But, this is before Financial Aid!

  8. Why Should I Go To College? Earnings and Unemployment Rates for People 25 and Older with Different Education Levels • More money!! • More/better job security • More opportunities • Personal growth • FUN!! College graduates earn over $800,000more than high school graduates in average over a life time 

  9. College Costs HOW MUCH??! • The REAL cost to you depends on the amount of financial aid you receive. TRANSLATION: More financial aid = Less money you pay for college • Sometimes, the school with the higher cost of attendance is more affordable.

  10. FAFSA BINGO

  11. Financial Aid 101 • What is FINANCIAL AID? But, before you can qualify for any type of federal aid, you need to…….

  12. FAFSA - Free Application for Federal Student Aid • Apply EARLY in order to receive federal and state aid (starting Jan 1st before March 2nd) • The FAFSA is used to apply for: 1. 2. 3. Grants Work Study Loans

  13. Handout: Financial Aid Step-by-Step

  14. HOMEWORK: Work on your FAFSA Worksheet and begin your FAFSA on Jan. 1st; NEXT SESSION: Bring in your materials to complete the FAFSA

  15. WWW.FAFSA.ED.GOV

  16. FAFSA Worksheet

  17. HOMEWORK: Apply for a PIN!

  18. How to Apply for a PIN

  19. How to Apply for a PIN

  20. What Happens After I Submit the FAFSA? Student Aid Report (SAR) EFC Resubmit (if you find errors) Financial Aid Award Letters!

  21. For FAFSA Help: • For info relating to the FAFSA, see www.finaid.org/fafsa/ • 1-800-4-FED-AID • For Hands-On Assistance: • Cash for College Workshops (Jan ~ Mar 2) • www.calgrants.org/index.cfm?navId=25 • FREE and by attending you may win a $1000 scholarship!!

  22. Financial Aid 101-Scholarships Scholarship Search

  23. Financial Aid 101-Scholarships • Do scholarships need to be repaid? • Can be merit-based, need-based, or others (e.g., ethnic/racial background) • Check on eligibility requirements • Sometimes additional materials required • Start researching ASAP and Apply, apply, apply!

  24. Financial Aid 101-Scholarships Scholarship Tips: • Be organized • Be honest • Follow instructions carefully • Proofread your application • Keep copies of everything you send • Send in your application packet as early as possible • Others?

  25. Break

  26. Financial Aid 101-Grants • Do you need to repay grants? • Federal or state funded • Need-based / enrollment status • General eligibility requirements: • High School Graduate • U.S. Citizen • Social security number • For most federal and state grants, just complete the FAFSA!

  27. Financial Aid 101-Grants • Federal Pell Grant • Federal Supplemental Educational Opportunity Grant (FSEOG) • Academic Competitiveness Grant (ACG) • National Science and Mathematics Access to Retain Talent Grant (SMART)

  28. Financial Aid 101-Grants • Cal Grant A, B, or C (DUE MARCH 2nd) • Maximum of $9708/year • Eligibility: • California Resident • U.S. or permanent resident • Enrolled at least half-time (6 or more units) • Social Security Number • Attend an eligible California institution • To apply: Complete FAFSA and submit GPA verification form

  29. Financial Aid 101-Federal Work Study • Part-time employment on/off campus • Offered in award letter • Amount you can earn varies between schools • Hourly wage must be at least federal minimum wage • Flexible schedules for students

  30. Work Study Scenario

  31. Financial Aid 101-Federal Work Study Benefits of Work Study • Flexible schedule-employers know you are a student first • Many FWS jobs are in the fields of your major or areas of interest • In some cases, you can study while you work (libraries, dining commons, gyms, etc.)

  32. Financial Aid 101-Loans What’s a loan? What questions do you have about loans?

  33. Spectrum Game

  34. Financial Aid 101 Recap • What is FINANCIAL AID?

  35. What if I don’t qualify for financial aid? • Aid options are available for undocumented immigrant students • Students will not qualify for federal/state aid so DO NOT COMPLETE AN ONLINE FAFSA

  36. Assembly Bill 540 (AB 540) • Allows undocumented students to qualify for in-state tuition in the state of California • Eligibility: 1. Attend a California high school for three or more years 2. Graduated from a California high school or received a GED 3. Submit an affidavit to the university saying they will apply for legal permanent residency when they are eligible (The affidavit will be kept by the college and remain confidential.) • To learn more about immigrant legislation and AB 540, visit www.maldef.org and www.nclr.org

  37. AB 540 Tips and Resources: • Do not fill out any forms for federal or state aid • Apply for as many scholarships as possible (check eligibility criteria) • Don’t make false statements about status • Talk with financial aid office

  38. Private Colleges: • Bryn Mawr College • Claremont McKenna College • Harvard University • Loyola Marymount University • Mills College • Mount St. Mary’s College • National Hispanic University • Occidental College • Santa Clara University • University of Puget Sound

  39. Recap: • Costs and Benefits of College • How Financial Aid Works – FAFSA • Scholarships, Grants, Work Study and Loans • AB 540 Support • Financial Aid Review

  40. Homework: Bring your FAFSA materials, start the FAFSA application, and register for a PIN. If you are not FAFSA eligible, find 2 scholarships you can apply for and start applying

  41. Questions? (Type presenter name) (Email)

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