Transcript Senior Financial Aid Presentation

Getting YOU to College!
Parents & Seniors
Financial Aid Training
Beloit College Upward Bound
We will talk about:
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Federal student aid & the FAFSA
State student aid
Student aid from colleges
Scholarships from other sources
Life after the FAFSA
We will answer:
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What is financial aid?
Who can get it?
How much can I get?
How do I apply?
What happens next?
Where can I get more info?
What is financial aid?
– Grants **– both federal and state is
available
– Loans – for students (& parents)
– Work-study ( earn DURING college)
– Scholarships** – local, regional,
national & from the colleges
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Who can get federal student aid?
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U.S. citizen or permanent resident
High school graduate/GED holder
Eligible degree/certificate program
Valid Social Security number
Males registered for Selective Service
Satisfactory academic progress
Who can get other kinds of
financial aid?
• States, colleges, and private
scholarships have their own
eligibility criteria.
• Be sure you know what you need to
do to qualify.
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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)
• Your EFC is generated by what you report on
the FAFSA
• COA is tuition, fees, room and board,
transportation, etc.
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COA – EFC = financial need
How much federal student aid can
I get?
Example: first-year student in 2011-12
Maximum amounts allowed:
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Federal Pell Grant: TBD [$5,500 in 2010-11]
TEACH Grant: $4,000
Federal Stafford Loan: $5,500
Federal Perkins Loan: $5,500
Federal Supplemental Educational Opportunity Grant:
$4,000
• Federal Work-Study: depends on funds available at
school
• Federal PLUS Loan (for parents): COA minus other aid
received
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How much federal student aid can
I get?
For early estimate, use FAFSA4caster:
• Go to www.fafsa4caster.ed.gov
• Enter some financial information
• Get an estimate
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How much state, school, and
scholarship money can I get?
• Depends on the program: do your
research!
– WI : State of Wisconsin Higher Educational
Aids Board ---- www.heab.state.wi.us
– IL: Illinois Student Assistance Commission
www.isac.org
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And don’t forget...
- Ask college financial aid offices for
info about aid available at their schools
IN ADVANCE
– Free scholarship search:
www.studentaid.ed.gov/scholarship
How do I apply for aid?
• Federal student aid: fill out Free Application for
Federal Student Aid (FAFSA) at www.fafsa.gov
• State aid: [insert info about any state forms
necessary and where to get them]
• School aid: contact financial aid office at schools
you are considering
• Scholarships: visit scholarship website or call
contact number for information
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How do I apply for federal student
aid?
1. Get a PIN at www.pin.ed.gov
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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!
DO NOT forget your PIN!
How do I apply for federal student
aid?
2. (Optional) Use FAFSA on the Web
Worksheet to get ready.
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Get worksheet at
www.studentaid.ed.gov/worksheet
Find a checklist of documents you need at
www.studentaid.ed.gov/pubs (“What
Information Do I Need When I Fill Out the
FAFSA?”).
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Fill out worksheet to prepare your answers.
How do I apply for federal student
aid?
3. Fill out your FAFSA online at
www.fafsa.gov
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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 save or print confirmation
page.
How do I apply for federal student
aid?
4. Watch for response by e-mail, from
[email protected],
or by mail
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Double-check your information online at
www.fafsa.gov (use your PIN to log on) or
on the paper Student Aid Report or SAR
mailed to you
Correct any mistakes and update any
information as necessary
Attend College Goal Wisconsin!
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Saturday, February 23, 2013 – 2pm
Beloit Memorial High School
For WI and IL seniors
Financial Aid experts there to help
Bring all tax information and
whatever is requested on the FAFSA
• Parents & Seniors attend
• Scholarships given away
Where can I get more info?
• www.studentaid.ed.gov
– Information about aid programs
– Free scholarship search
– Free college search
• 1-800-4-FED-AID
– Information about aid programs
– Help with the FAFSA
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LIFE AFTER the
FAFSA
……………WHAT’S NEXT?????
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ONCE YOUR FAFSA is
COMPLETE...
• Look for your SAR via email.
• Be sure you had your SAR sent to the
colleges where you applied.
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Watch for e-mails or letters from the
schools you are considering—
-- via mail (a few)
-- via email (many)
-- via your college login (many)
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Give the schools any additional
paperwork they ask for.
Meet all deadlines or you could
miss out on aid!
What happens next?
• Each school will tell you how much
aid you can get at that school. This is
your AWARD LETTER or
FINANCIAL AID PACKAGE.
• 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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What does the Fin Aid Package
mean?
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• It means the university wants to offer
you a combination of financial aid
(some free money and some not) in
order to attend.
• We HIGHLY suggest meeting with
us when you get this package to
make sense of the offer.
What might be in the letter?
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Federal loans
Federal and state aid (free money)
School scholarships & aid
Work study (money comes LATER)
Parent PLUS loans (NOT a student
loan & requires a credit check)
What should I know about this
financial aid package?
• It is ONLY an offer. Nothing is
finalized.
• Every college prepares these
differently. Some show the COA,
some show just the tuition, room &
board. Look at the fine print!
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What else should I know about
this financial aid package?
• You must ACCEPT in order to move
forward with the package.
• You do not have to accept every
aspect of the package.
• You should call the financial aid
office if you are unsure of the offer.
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When do I make a decision?
• You make a decision about the offer
when you are certain you will go to
that college.
• Most deadlines are May 1st at the
latest. You can decide sooner.
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How do I accept an offer?
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• Follow the directions of the college
for accepting the offer.
• Be sure to electronically sign the
PROMISORY NOTES for any
federal student aid.
• Have copies of what you did in your
email or hard copy.
I am SET for college – now what?
• Be prepared to make a housing
deposit – (average $250) in April
• Some requires deposits sooner to
hold limited on-campus housing
• Be sure to understand the housing
options. Most will not waive this fee.
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My housing is set – now what?
• Be sure you are registered for the
college’s freshmen orientation
(parents usually join) in the summer.
• Take any placement tests – English,
Math, foreign language, etc.
• Be sure to submit your FINAL
transcript and any AP credit
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What if I get local scholarships?
• Work with the financial aid office at
the college to find out how they will
disperse the funds to you, or put it
toward your bill.
• Be sure to send a THANK YOU for
local or ANY scholarships.
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How else should I prepare?
• Save, save, save. $1,000 can go a
long way for books, supplies, etc.
• Connect with your roommate to work
out room details.
• Get a jumpstart on a possible workstudy job if you can.
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And------
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• Get enrolled in a summer bridge
program at the college IF it is
available to you (SSS or others)
• Have a good sense of your
technological resources (theirs or
yours) and internet accessibility
• Make a plan (with your parents )for
your budget, communication, dealing
with stress.
WHEN YOU GET TO
COLLEGE..
• Stay organized.
• Ask questions when you are unsure.
• Stay calm and take things one step at a
time.
• Network!!!
• Remember why you are there.
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• Have fun --- this is an EXCITING
TIME IN YOUR LIFE!!!!
Questions?
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My contact information:
STEPHANIE KING
Name
• Phone: (608) 289-8814
• e-mail: [email protected]
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