Transcript Financial Aid - Westmont High School
Financial Aid
Westmont High School Guidance Department Fall 2013
Agenda
What is Financial Aid?
Financial Aid Myths Application Process Calculating Eligibility Awarding and Packaging What Next?
What is Financial Aid?
Financial Aid is any money given or loaned to help pay for education Federal Student Aid California State Aid
What does it pay for?
Tuition and fees Room and board Books and supplies Transportation May also include allowance for: Child care Costs associated with a disability Rental or purchase of computer
FAFSA & CalGrant
F
ree
A
pplication for
F
ederal
S
tudent
A
id (FAFSA) CalGrant
Basic Equation of Need
Cost of Attendance (COA) Expected Family Contribution (EFC) Student’s Financial Need (eligibility)
Financial Aid Myths
Myth #1:
You can’t afford college
Myth #2:
You have to be very poor, very smart or very talented to qualify
Myth #3:
You can get more scholarships by paying someone to search for you
Myth #4:
If you pay for college, your parents’ salaries don’t matter
Myth #5:
You can wait until you get accepted to a college before worrying about financial aid
Types of Financial Aid
Need-Based Based on family’s financial situation Non Need-Based (Scholarships/Loans) Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.
Types of Financial Aid
Gift Aid •Grants •Federal Pell Grants •Cal Grants •Scholarships Self Help •Work Study •Loans
Types of Financial Aid – GIFT
Federal Pell Grant First source of aid Undergraduate students only Amount based on Cost of Attendance (COA) Expected Family Contribution (EFC) Enrollment status 2013-2014 maximum = $5,550
Types of Financial Aid – GIFT Cal Grants
Cal Grant A
For students with a Grade Point Average (GPA) of at least
3.0
, family income and assets below the state ceilings, and who demonstrate financial need
Cal Grant B
For students from disadvantaged or low income families with a GPA of at least
2.0
, family income and assets below the state ceilings, and who demonstrate financial need
Cal Grant C
For students from low income families pursuing
occupational, technical, and vocational programs
of study
Types of Financial Aid – GIFT
College Grants
Community College Board of Governor’s Fee Waiver (BOG)
Waives enrollment fees, FAFSA may be required
CSU State University Grant (SUG)
Amounts vary, FAFSA is required
UC Grant
Use federal formula to award grants.
Independent College Grants
Amounts and application process vary
Creating a “WebGrants 4 Students” Account
Students create a WGS account with a submitted GPA to the Commission. To establish a WGS account, go to
www.webgrants4students.org
follow the instructions!
and
Types of Financial Aid – SELF-HELP Federal Work Study
Campus-based aid
Must be earned through work
Job may be on or off campus
May have annual maximum
funding levels vary at each institution
Need-based
Types of Financial Aid – Loans SELF-HELP
Subsidized
- Need based Interest paid by government
Unsubsidized
- Not need based Student pays interest
PLUS
- Not need based Borrowed by parent
Perkins
- Need based 0% interest while in school
Step 1: Filing the FAFSA
Apply For A PIN
Students need a PIN. Parents need a PIN too.
PIN is student’s and parent’s signature.
The PIN Application Process consists of 3 steps: Step 1: Enter Personal Information Step 2: Submit Your PIN Application Step 3: Receive Your PIN – KEEP IT PRIVATE!
www.pin.ed.gov
Information Needed to Register for a PIN Social Security Number Last name, First name, Middle initial Date of Birth Address E-mail
Step 2: Apply Online
File a
FAFSA
online
www.fafsa.ed.gov
1-800-4-FED-AID (1-800-433-3243)
What’s the deadline?
The 2012-13 deadline for FAFSA and GPA submission is Thursday, March 2, 2013
Many private schools have an earlier deadline such as Febraury 1 st , 2013 – check each campuses deadline.
What is a name?
Must use legal name as it appears on social security card Kim Kimberly Vicky Victoria
FAFSA Questions
What does the FAFSA ask about?
General Student Information Student income and Tax Information IRS Data Retrieval Available February 1 st , 2013 Opt to “Transfer My Tax Information into the FAFSA” Can file FAFSA earlier (using estimated info.) Allow 2 weeks if taxes e-filed; 8 weeks if taxes done on paper Can file FAFSA earlier (using estimated info.)
Who is eligible for financial aid?
U.S. Citizen, Eligible non-citizen, or Neither Must have a Social Security Number to continue online application 800.772.1213 or
www.ssa.gov
Matched with name and date of birth registered with SSA
Citizen or non-citizen?
Eligible non-citizen
If you’re not in one of these categories, you must be an eligible noncitizen, and you must have an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:
"Asylum Granted“ "Refugee" "Cuban-Haitian Entrant, Status Pending" "Conditional Entrant” Victims of human trafficking, T-visa
Selective Service/ Inactive Draft
Males between 18 and 25 must register Check “Yes” and you will be automatically registered Not yet 18, check yes and SSS will register you on birth date May also register using Web site
www.sss.gov
Degree/Grade Level
Student’s Grade Level Check “1 st year/never attended college before”, whether or not a concurrent enrollment student Degree Check “1 st bachelor’s degree” Student’s expected enrollment status Always check “full time” Does not commit you to attending full time
Parents’ Household Size
Include student and parents Siblings/ other people (regardless of age) If they live with parents and provide 50% or more of their financial support from July 1, 2011- June 30, 2013
Questions?
Financial Aid Night at West Valley College Theater Thursday, January 24 th 6:30 – 8:00 PM Free parking night of the event
Your To-Do List
Complete
GPA Release Form
Guidance office by Feb.25
th .
and return to the Complete the FAFSA online beginning January 1 st Student and parent use PIN to sign Read and save confirmation page Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 24th at 6:30 Watch for your Student Aid Report (SAR) and California Aid Report (CAR)