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Parent Meeting January financial aid & scholarships

Parent Meeting January financial aid & scholarships. January 27, 2014. FAFSA… what is it?. Free Application for Federal Student Aid

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Parent Meeting January financial aid & scholarships

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  1. Parent Meeting Januaryfinancial aid & scholarships January 27, 2014

  2. FAFSA… what is it? • Free Application for Federal Student Aid • This application takes your tax information and assigns your family an EFC (estimated family contribution) code which determines whether or not your child is eligible for financial assistance from the government for college. This assistance can come in the form of a Pell Grant (free money you don’t have to pay back), Student Loans (money you pay back during and after college), and Work Study (a flexible work program in which students work on a college campus as their job).

  3. Do I have to file this FAFSA? • Yes! The FAFSA is not only an application for colleges; it also helps the government determine how much federal funding colleges get. Also, schools cannot issue scholarship money to students until they get your family’s EFC code. This has to be done every year to continue to receive money from the college and from the government.

  4. How do I get this FAFSA done? • FIRST!!!! Get your taxes done… I know that this is a ‘sore spot’ for some small business owners who like to wait until April to file their taxes, but if you have a senior this is the one year that you want to go ahead and file as soon after February 1st as possible to get all financial aid paperwork squared away. • SECOND!!!! We are lucky to have a TRIO program office in Scottsboro, Alabama. The North Alabama Center for Educational Excellence are paid by the Feds to provide services in rural areas to help promote education. One of the FREE services they provide is processing your child’s FAFSA. • You simply call 256-259-3072 and make an appointment.

  5. What are the ways you can pay for college?

  6. Financial Aid- Need Based $ • Who determines if I need money for college? Big Brother • How do they determine that? FAFSA(FREE Application for Federal Student Aid) Apply in February of Senior Year 1. Pell Grants- Free $ you never have to pay back $5,500 per year (about the yearly cost of a Community College) 2. Student Loans- $ you borrow from the government or the school and you pay back after you graduate from college. 3. Work Study- You work on campus during times you are not in class and the college pays you minimum wage.

  7. SCHOLARSHIPS • A scholarship is defined on Dictionary.com as a ‘sum of money or other aid granted to a student because of merit, need, etc. to pursue his or her studies’. The word MERIT when defined as a noun means ‘claim to respect and praise; excellence; worth’. Another definition is ‘superior quality deserving praise’. You earn them, win them, or are awarded them based on achievement.

  8. SCHOLARSHIPS • There are as many scholarships available as everyone says! • In order to get a scholarship you must APPLY, be eligible, & STAND OUT as an applicant. • The three primary types of scholarships are: • INSTITUTIONAL • CORPORATE • LOCAL

  9. INSTITUTIONAL SCHOLARSHIPS • These scholarships are given from the school you are attending. For incoming freshmen they award these scholarships based on things such as ACT score, GPA, & outstanding Resume’s • You get these applications from the college itself & they are posted on their websites. • Northeast Scholarships are available now and the deadline is this Friday, January 30th! I will be in the computer labs all day tomorrow for kids to stop by and let me help them with their applications.

  10. CORPORATE SCHOLARSHIPS • This money comes from big businesses such as Honda, McDonald’s, Best Buy, etc. • You get the applications for this money directly from business sites or Scholarships.com. New site!! High Five Scholarships (this site has ACT/SAT test prep)

  11. LOCAL SCHOLARSHIPS • This money comes from local businesses, organizations, Civic groups, churches, etc. • You get these applications from the businesses themselves or from your guidance counselor. • Local Scholarship applications are available February 1st

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