Transcript Document
Financing Education Beyond Prince George High School January 9, 2013 Presented by: Jeanne Holmes Richard Bland College [email protected] 1 Will this be your household? 2 This?? 3 This ??? 4 Or this???? – Avoid these scenarios by being proactive and prepared. 5 What is Financial Aid? Scholarships Grants Loans Employment opportunities 6 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 7 Definition of Need Cost of attendance (COA) – Expected family contribution (EFC) – Any aid or scholarship already awarded = Need 8 Need Varies Based on Cost 1 X 2 Y 3 Cost of Attendance (Variable) Z EFC EFC Expected Family Contribution Need (Variable) (Constant) 9 Do I need my parents’ information to apply? Maybe, depending on your answers to the next questions . . . 10 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? 11 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. 12 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? 13 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. 14 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 15 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 16 What happens after I complete the FAFSA? What to look for . . . 17 The Student Aid Report (SAR) 18 The Award Letter 19 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? ???? ???? ???? 20 Remember: Deadlines are critical Explore all options Accuracy is important Follow ALL instructions Seek advice/ask questions Start now planning for next year QUESTIONS ????? 21 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 22 Good Luck! 23