Finding Money for College October 16, 2009 Mrs. Bradford, School Counselor.
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Transcript of Finding Money for College October 16, 2009 Mrs. Bradford, School Counselor.
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Finding Money for College
October 16, 2009
Mrs. Bradford, School Counselor
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We will talk about:
• Federal student aid
• Student aid from colleges
• Scholarships from other sources
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We will answer:
• What is financial aid?
• How do I apply?
• How much can I get?
• Where can I get more info?
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What is financial aid?
• Money to pay for college or career school– Grants
– Loans
– Work-study
– Scholarships
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How do I apply for federal student aid?
1. Get a PIN at www.pin.ed.gov • Your parent might need a PIN too
• Choose your own PIN or let the site choose one for you
• Don’t tell anyone your PIN!
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How do I apply for federal student aid?
2. (Optional) Use FAFSA on the Web Worksheet to get ready.
• Get worksheet at www.FederalStudentAid.ed.gov/worksheet
• Use checklist to gather documents you need.
• Fill out worksheet to prepare your answers.
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How do I apply for federal student aid?
3. Fill out your FAFSA online at www.fafsa.ed.gov
• Apply on or after Jan.1 but as early as possible to meet all deadlines.
• Need help? Use “Live Help” icon or call 1-800-4-FED-AID.
• Don’t forget to print confirmation page.
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How do I apply for federal student aid?
4. Watch for response by e-mail, from [email protected], or by mail
• Double-check your information online at www.fafsa.ed.gov (use your PIN to log on) or on the paper Student Aid Report mailed to you
• Correct any mistakes and update any information as necessary
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How do I apply for federal student aid?
5. Watch for e-mails or letters from the schools you are considering
• Give the schools any additional paperwork they ask for
• Meet all deadlines or you could miss out on aid!
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What happens next?
• Each school will tell you how much aid you can get at that school.
• Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.
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How much federal student aid can I get?
In general, depends on your financial need.• Financial need determined by Expected
Family Contribution (EFC) and cost of attendance (COA)
• EFC comes from what you report on FAFSA• COA is tuition, fees, room and board, books,
transportation, and miscellaneous expensesCOA – EFC = financial need
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How much federal student aid can I get?
For early estimate, use FAFSA4caster:• Go to www.FederalStudentAid.ed.gov • Enter some financial information• Get an estimate
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How do I apply for student aid from colleges?• Go to the college’s website and look at their
financial aid page• Some colleges will require a PROFILE; go to
https://profileonline.collegeboard.com to complete• Some colleges will require a separate scholarship
application; others will base scholarship decisions on your application for admission
• Scholarship deadlines for colleges are usually in the fall…be sure not to miss an opportunity!
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What might a sample aid package look like?
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Davidson Private #1 Private #2 Public U.
Total cost $48,000 $50,000 $35,000 $19,000
Family contribution (EFC)
$10,000 $10,000 $10,000 $10,000
Financial need $38,000 $40,000 $25,000 $9,000
Merit aid $0 $0 $10,000 $0
Need grant $35,900 $33,300 $2,800 $1,500
Student loan $0 $4,000 $5,500 $5,500
Work study $2,100 $2,700 $1,800 $1,000
Total aid $38,000 $40,000 $20,100 $8,000
Unmet need $0 $0 $4,900 $1,000
Total paid $10,000 $10,000+loan $14,900+loan $11,000+loan
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How do I apply for scholarships from other sources?
• Look at the monthly scholarship newsletter and follow instructions for applying– Online vs. paper– Direct application vs. scholarship committee
• Check with your parent’s employer, your religious institution, civic groups, etc.
• Go to a scholarship search website for more ideas (www.fastweb.com, www.meritaid.com, www.scholarships.com, www.absolutelyscholarships.com)
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Where can I get more info?
• GRASP Representative, Ms. Tice– Sign up on the clipboard by Mrs. Bradford’s
office for an appointment• Financial Aid Workshop for Parents
– November 16th, 6:30 pm in the South Cafeteria
• www.FederalStudentAid.ed.gov – Information about federal aid programs
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Questions?
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Contact Information:
Mrs. Bradford, School Counselor• Phone: (804) 228-2710•e-mail: [email protected]