Transcript Document
Financing Education Beyond
Prince George High School
January 9, 2013
Presented by:
Jeanne Holmes
Richard Bland College
[email protected]
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Will this be your household?
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This??
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This ???
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Or this???? – Avoid these scenarios by
being proactive and prepared.
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What is Financial Aid?
Scholarships
Grants
Loans
Employment opportunities
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Cost of Attendance
Tuition and fees
Room and board
Books, supplies, transportation, and miscellaneous
personal expenses, including documented costs for
a personal computer
Loan fees
Study abroad costs
Disability-related expenses
Cooperative education program costs
Dependent care expenses
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Definition of Need
Cost of attendance (COA)
– Expected family contribution
(EFC)
– Any aid or scholarship already awarded
= Need
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Need Varies Based on Cost
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X
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Y
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Cost of
Attendance
(Variable)
Z
EFC
EFC
Expected Family
Contribution
Need
(Variable)
(Constant)
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Do I need my parents’ information to apply?
Maybe, depending on your answers to the next
questions . . .
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Questions to determine independence
(An answer of yes to any one of these “may” = independence)
Were you born before January 1, 1990?
Are you currently serving on active duty in the U.S. Armed Forces for purposes other that
training?
Are you a veteran of the U.S. Armed Forces?
Are you a graduate student (working on a graduate certificate, master’s or doctorate
degree)?
As of today are you married (answer “yes” if separated but not divorced)?
Do you have children or dependents (other than a spouse) for whom you provide more
than half of their support between July 1, 2012 and June 30, 2013?
At any time since you turned age 13 were both of your parents deceased, were you in
foster care or were you a dependent or ward of the court?
As determined by a court in your state of legal residence, are you or have you been
declared an emancipated minor?
As determined by a court in your state of legal residence, are you or were you in a legal
guardianship?
At any time on or after July 1, 2012 were you determined to be homeless or at risk of
being homeless?
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THE FAFSA4CASTER
http://www.fafsa4caster.ed.gov/
If you want to begin exploring your financial aid
options and get an early start on the financial aid
process, FAFSA4caster is for you! By using
FAFSA4caster, you and your family will receive an
early estimate of eligibility for federal student aid.
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The “FAFSA”
www.fafsa.gov
The Free Application for Federal Student Aid
Who is eligible to apply?
What documents and information will I need to
complete the FAFSA?
When should I complete the FAFSA?
How long will it take to complete the FAFSA?
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PIN Registration
Web site: www.pin.ed.gov
Not required, but speeds processing
May be used by students and parents throughout aid
process, including subsequent school years and to
access the NSLDS website.
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The FAFSA on the Web Worksheet
www.fafsa.gov
allows you to read and complete the
questions before entering your information
online
questions are listed in the same order as they
appear on the Web site
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Frequent FAFSA Errors
Parent and student Social Security Numbers
Divorced/remarried parental information
Income earned by parents/stepparents
Untaxed income
U.S. income taxes paid
Household size
Number of household members in college
Real estate and investment net worth
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What happens after I
complete the FAFSA?
What to look for . . .
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The Student Aid Report (SAR)
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The Award Letter
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I still have questions
Will my financial aid $$ be sent to me?
Will my financial aid cover my entire college
education?
What other financial aid
information/resources are there?
????
????
????
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Remember:
Deadlines are critical
Explore all options
Accuracy is important
Follow ALL instructions
Seek advice/ask questions
Start now planning for next year
QUESTIONS ?????
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Some Helpful Web Sites
www.fafsa.gov
www.pin.ed.gov
www.fafsa4caster.ed.gov
www.studentaid.ed.gov
www.collegeboard.com
www.finaid.org
www.fastweb.com
www.schev.edu
www.offtocollege.info
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Good Luck!
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