1 / 19

Financial Aid

Financial Aid. A Q uick Guide. Main Types of Aid. Federal Available after completing FAFSA- http ://www.fafsa.ed.gov/ State Almost every state has financial aid for it’s residents Also Available after FAFSA or State Application University/ Institutional

toan
Download Presentation

Financial Aid

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. Financial Aid A Quick Guide

  2. Main Types of Aid • Federal • Available after completing FAFSA-http://www.fafsa.ed.gov/ • State • Almost every state has financial aid for it’s residents • Also Available after FAFSA or State Application • University/ Institutional • Many institutions provide need based financial aid • There are also Institution based scholarships available • Private • Any company, program, or outside source that provides scholarships

  3. Best way to go about it • Combine all 4 types of aid. • Focus on Federal + State Aid (FAFSA) • Use target institutions as resources (website, email, phone) • Search locally -> nationally for private scholarships • Funds are limited so some programs are first come first serve. • Starting early gives you the best chances of success!

  4. Immediate Steps • Start in September (start now) • Visit http://www.nasfaa.org/for outline of Fin. Aid. • Visit target university websites for financial aid policies & programs immediately. • Apply for your FAFSA PIN

  5. Free Application for Federal Student Aid (FAFSA) • Opens January 1st • Profile determines financial need/ situation. • Must be signed using PIN by Guardian and Student, get *these early • http://www.pin.ed.gov/PINWebApp/pinindex.jsp • Automatically apply for Fed. And State AID • MOST IMPORTANT FORM! • Finish FAFSA As Soon As Possible • Finish at the latest March 15th

  6. Federal Aid – Likely Benefits • Federal Pell Grants • up to 5,550 each year for 12 semesters • Federal Supplemental Educational Opportunity Grants (FSEOG) • Awarded to students in exceptional need. • The Federal Work-Study Program • Opens students up to Work Opportunities • Check your Eligibility for these programs (Income based) and more. • FAQS and a thorough outline. • http://www.fafsa.ed.gov/help.htm

  7. State Resources • Each state has programs for need, merit, and more! • State Education Agency website: • http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_cd=SHE • Overview of Universities and State Programs • **State by State financial aid Programs **: • http://www.nasfaa.org/students/State_Financial_Aid_Programs.aspx

  8. State Resources • Will usually rely on FAFSA application to determine eligibility • Many will not have separate application • Many have specific requirements: GPA, AP/ IB enrollment, demonstrate financial need, etc. etc. • Opportunities available for certain degrees (teaching, engineering, etc.) & demographics. • Often renewable if yearly requirements are met** • Funds are limited, finish application early. • Do not assume you will receive, check the website!

  9. Private Aid • Colleges/ Universities offer scholarships and Grants • Companies, foundations and other organizations offer Scholarships • Based on need, merit, achievement, and MORE. • Can be very open or narrow eligibility requirements. • Should be lowest priority/ source of aid.

  10. Private Aid • Will have unique Application • Will have unique Deadline • Will not necessarily have high competition • Look for these deadlines As Soon As Possible • Should NEVER be any FEES for applications, beware of scams!

  11. Plan for Private Aid • Search locally (in your City/ Town) - fewer applicants (easier to get). Look where you’re involved! • College Counselors should have plenty of information for local scholarships. • There are scholarships for everything, expand your horizon! • Prioritize local scholarships and then attempt larger ones. • Do not be afraid of essay, poetry, or other competitions. • If you qualify, then apply! • Always keep track of deadlines. • Look in scholarship books and online: • www.fastweb.com • www.collegeboard.com • www.Zinch.com/scholarships

  12. CSS Profile/ IDOC • If they offer Early Admission - may require a CSS profile • Profile determines financial need/ situation. • Early admit or not, check the website to see if profile is necessary: https://profileonline.collegeboard.org/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv • Few scholarships that also require the profile - very specific, do a scan. If you are not interested or ineligible for the scholarships and your target school does not require the profile. Do not fill it out. • If profile necessary, submit 2 weeks before the submission deadline. • If you qualify for free or reduced lunch, you may be eligible for a fee waiver for the CSS profile.

  13. Execution • Start heavy searching after College Apps • Winter break is perfect for scholarship search • Useful tip: Get a physical calendar! Keep track of application dates! • No calendar? EXCEL Spreadsheet! • Your mentee doesn’t have to finish the scholarship applications now, but check eligibility and have a look at the application as soon as possible. • Have your mentee talk to their high school counselors. * * • Many deadlines for scholarship opportunities come around Mid February and on, to stay eligible, KEEP TRACK OF DEADLINES.

  14. RecaP • Start by checking your target institutional scholarships and programs early. • Check for Financial Aid within your state and apply if necessary. • Begin your Private Aid Scholarship search (September - December) • Finish FAFSA as soon as possible (After January 1st) • Fill out CSS Profile/ IDOC if necessary • Focus on institutional aid and continue private scholarship applications. • The more you apply, the higher your chances. If you are eligible, Apply! • Local Scholarships  Larger, National Scholarships • Once again, KEEP TRACK OF YOUR DEADLINES

  15. Ways to Cut Costs • AP and Dual enrollment classes • Reach out to HS Counselors • Earn College Credit, boost GPA, strive for higher achievement • AP credit accepting Universities: https://apscore.collegeboard.org/creditandplacement/search-credit-policies • Consider Housing: Living at home, in a dorm, or off campus • Home -> Save money, may be less social • Dorm -> Expensive, but usually more social • Start at community College • Very cost effective (Avarage < 1/2 public universities) • Can Transfer to Public University (in State) • Finish basic requirements then Transfer to Public University

  16. Ways to Cut Costs • Earn Money while working • Federal Work Opens on campus and volunteer jobs • Steady income and gain work experience. • Choose appropriate meal plan • Be realistic, only buy what you will eat. • Buy used textbooks, rent, or find books online • Use campus bookstore last • Buy and return books in between cheaper alternatives • Attempt to use an older edition

  17. High Achieving Scholarships • AXA achievement Scholarship: for outstanding achievement outside of the classroom: http://www.axa-equitable.com/axa-foundation/AXA-achievement-scholarship.html • Ron Brown Scholar: High achieving African Americans: http://www.ronbrown.org/Apply/EligibilityRequirements.aspx • Gates Millennium Scholarship: High Achieving ethnic minorities: http://www.gmsp.org/ • List of Hispanic Scholarship Fund scholarships: http://hsf.net/en/scholarships/programs

  18. TEXAS Opportunities • Large List of Scholarships (Texas Geared) • http://www.collegeforalltexans.com/apps/financialaid/tofa.cfm?Kind=PGS • MUST CHECK WEBSITE • http://www.collegeforalltexans.com/index.cfm?ObjectID=699A998A-E7F3-1DCC-3F460F26136EEA05 • Under “Types of Financial AID” • State and Federal Grants and Scholarships link • Private/Corporate Grants and Scholarships link • Navigate the other pages as well!

More Related