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Funding you Child’s Education

Learn about financial aid options for your child's college education, including grants, scholarships, loans, and work study programs. Find out how to apply for financial aid through FAFSA and TAFSA, and discover additional funding sources such as savings and scholarships.

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Funding you Child’s Education

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  1. Funding you Child’s Education Aldine ISD Guidance and Counseling Department Denise Keaton, Coordinator of Student Financial Aid

  2. What is Financial Aid? • Financial Aid is money that students receive to assist them in paying for their college education.

  3. Types of Student Financial Aid Grants- Free money Scholarships- Free Money Loans-Borrowed Money Subsidized Must demonstrate financial need Payment begins when you leave school Unsubsidized No financial need has to be demonstrated Payment begins immediately Employment/Work Study

  4. Key Things to Remember • Myths: • We make too much money, so we will never qualify. • Only people with high GPA’s receive scholarships. • You can only receive financial aid if you pay someone to help you find it. • Truths • Anyone can receive financial aid • Scholarships are not solely based on GPA • You do not need to pay anyone to help you complete your FAFSA/TAFSA or for scholarships

  5. How Do I Apply for Financial Aid? • FAFSA (Free Application for Federal Student Aid • Apply anytime after October 1st of senior year • Parent and students must complete FAFSA • Apply online at www.fafsa.gov • CSS Profile • Select colleges require the CSS Profile • Visit www.collegeboard.com for details

  6. How Do I Apply for Financial Aid? • TAFSA – Texas Application for Student Aid • Apply anytime after October 1st of senior year • For undocumented students go to AIE.org for application • Application must be copied and mailed to each college/university.

  7. What is the FAFSA? • This application is required to be completed to receive most federal and state aid • The U.S. Department of Education determines the estimated family contribution (EFC). • Parent and Student income and assets • Number of household members • Number in college

  8. The FAFSA ONLINE What do you need when filling out the FAFSA? • Income Tax forms – from the parent and student • 1040, W-2 from most current year • Social Security numbers- from parent and student • Date of marriage, divorce or separation – from parent • Total current balance of cash/savings and the value of investments.

  9. Federal Student Aid ID (FSA ID) • Student and parent need a FSA ID. • Will be used multiple years. • Used to sign FAFSA electronically—required for online signature • Apply NOW or apply at the end of the application

  10. How Is My Information Used? your need is calculated based on the following formula: Cost of Attendance Expected Family Contribution (EFC) = Financial Need

  11. CAUTION!!! Avoid being charged a fee to file the FREEApplication for Federal Student Aid • Completion and processing of the FAFSA are FREE • If filing via FAFSA on the Web, be sure to go directly to www.fafsa.ed.gov

  12. What Happens After I fill out the FAFSA? • Universities will sometimes request additional information • You may be asked for a copy of the tax transcript or other information • College will notify via email, Web or mail of aid eligibility • Student should follow colleges’ instructions to accept or decline aid offered.

  13. Colleges listed on the FAFSA will receive the electronic Student Aid Report (SAR). • You can list up to 10 schools. • Schools use the information on the SAR to prepare a financial aid package to help meet your financial need. • A financial aid award letter is sent to the student • Colleges may offer a combination of several types of financial aid • Student must accept or reject financial aid offered • Funds are awarded in the fall How is Financial Aid Awarded?

  14. Cost of Attendance • Tuition and fees • Room and board • Books, supplies, transportation, and miscellaneous personal expenses, including documented costs for a personal computer

  15. College Costs

  16. Other Funding Sources Savings 529 Plans Scholarships

  17. SCHOLARSHIPS SCHOLARSHIPS SCHOLARSHIPS

  18. SCHOLARSHIPS • Institutional • Awarded on behalf of the university/ college • May only be used at that school • Non Institutional • Awarded by: • Corporations • Local, State or National Organizations • Civic groups • churches • May be used at any school • Competitive • Awards based on • Athletics • Merit • Need • Talent • Community Service • Most are looking for the well rounded student

  19. So where do I find scholarships?

  20. District Website

  21. Scholarship Application Process • Find out requirements • Get a copy of the application, if possible • Complete the scholarship application • Gather all required supporting documents • recommendations, transcripts, photo, etc. • Mail completed application with all documents before scholarship deadline or submit all information online • Students are responsible for mailing scholarship applications unless otherwise specified

  22. Scholarship Application Tips • Read all requirements and directions carefully. • Type your application • If you cannot type your application please print neatly and legibly. • Most applications are submitted on-line • Complete the entire application. Do not leave any blanks. • Use black ink unless otherwise specified. • Ask for Letters of Recommendation early (NOW). • Develop a resume with all extra-curricular and community service activities, facts about yourself (strengths , weaknesses, leadership ability. • Watch for deadlines! Know the difference between post mark deadline and received by deadline.

  23. Potential “Scams” “The scholarship is guaranteed or your money back.” No one can guarantee your scholarship before it is awarded. “Come to our free seminar and we’ll show you how to get more financial aid.” This is a sales pitch. Don’t pay for information that you can get elsewhere for free.

  24. What Should We Do Now? • Register for the SAT and ACT • Make a college list • 1 Back up school • 2-3 comfort schools • 1-2 dream schools • Visit you perspective schools • Attend College Night October 3, 2016 at MOC • Start and Work on applications NOW!!!!! • Many schools have October 1st – December 1st Deadlines • Public Universities in Texas - ApplyTexas.org • www.applytexas.org • Private and out of state colleges – Common Application • www.commonapp.org • Apply for scholarships year round • Enroll in RAISE.me • Get FSA ID: www.fsaid.gov • Apply for Financial Aid in October: www.FAFSA.gov

  25. What Should We Do Now? • Contact Information • Denise Keaton • Coordinator of Student Financial Aid • 281-985-6408 • dakeaton@aldineisd.org • Parent REMIND Text @hcfe2c to 81010

  26. QUESTIONS ????

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