Transcript Financial Aid 101 - Fairfield Area School District

You may be eligible for aid,
but . .
•
You must apply to find
out!

We can’t guarantee aid
if you do apply, but we
can guarantee you
won’t receive aid if you
don’t apply.
•
FAFSA.ed.gov
•
FAFSA.gov
Types of Financial Aid
•
•
Gift Assistance
• Scholarships
• Grants
Self-help
• Loans
• Employment
Eligibility for Aid
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Based upon an analysis of
data provided on the Free
Application for Federal
Student Aid (FAFSA).
Many institutions require
additional information,
such as the CSS Profile
(http://profileonline.colleg
eboard.com).
Tips to Apply for Financial Aid
•
Find out what forms are required at each institution.
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Meet institutions’ filing deadline/priority dates.
Apply as early as possible.
Use completed tax returns & the IRS Data Retrieval
Tool on the FAFSA (use estimated returns to meet
deadlines).
Link to the PA State Grant Form from the FAFSA
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Complete all questions on each form.
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Keep copies for your records.
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How to Apply
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Free Application for Federal Student Aid
(FAFSA)
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Paper version (1-800-4-FEDAID)
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FAFSA on the web
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FAFSA.ed.gov or FAFSA.gov
FAFSA.ed.gov or FAFSA.gov
Renewal application
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Completed after the first-year.
Common FAFSA Errors
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Student SSN, DOB or name.
Parent SSN, DOB or name.
Mother/Father earnings left blank.
Federal income tax not reported correctly.
Untaxed income not reported correctly.
Number of people in parents household or
number of dependents in college.
Missing appropriate signature(s)/PINs.
Pin Registration Site
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www.pin.ed.gov
Requested information:
• Name
• Social Security
number
• Date of Birth
• Mailing address
• Email address
Use of Pin
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Sign your FAFSA on the web electronically.
Review and correct answers on your
electronic Student Aid Report (SAR).
Print a copy of your SAR.
Electronically sign loan promissory notes.
Reapply for student aid every year you are in
school.
View information about federal loans and
grants you’ve received.
Needs Analysis Formula
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•
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Family contribution is based
on family size, number in
college, income, and assets.
Measures ability, not
willingness to pay.
Family’s financial
circumstances are taken as
they are at the time of
application.
Financial Aid Award Example
Cost of Education - Family Contribution = Need
$30,000
$6,000
= $24,000
College Scholarship
PA State Grant
College Grant
Stafford Loan
Work Study
Total
$12,500
$ 3,500
$ 3,300
$ 3,500
$ 1,150
$23,950
FAFSA4caster
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Early estimate of federal
aid
Prepopulates FAFSA
- saves time
Calculates estimated
expected family
contribution (EFC)
http://Federal Student
Aid.ed.gov

Net Price
Calculator
∙ Available on each
college’s website
Questions?
Jean Stone
Associate Director of Financial Aid
Gettysburg College
[email protected]
717-337-6659
Sandy Pitzer
Student Services Specialist - Financial Aid
HACC – Gettysburg Campus
[email protected]
717-337-3855, ext. 3030