Sharon L Harper Director of University Scholarships University of Colorado Denver

       What is financial aid Cost of attendance (COA) Expected Family Contribution (EFC) What is financial need Categories, types, and sources of financial aid Free Application for Federal Student Aid (FAFSA) Special circumstances

 Any money that can be used to pay for a student’s college  Scholarships  Grants  Student Employment  Student Loans  Parent/Family Resources

1.

2.

Apply to college Complete Free Application for Federal Student Aid (FAFSA) AFTER January 1, 2012 3.

4.

 There may be additional applications for scholarships/loans/institutional aid that will vary by school Receive Financial Aid Award from School attending Accept awards offered

 www.fafsa.gov

• 2014–15 FAFSA on the Web available on January 1, 2014 • FAFSA on the Web Worksheet: Used as “pre-application” worksheet Questions follow order of FAFSA on the Web

Resident at State University

    Tuition & Fees $ 7,932 Books & Supplies $ 1,749 Personal/Misc. $ 2,565 Room & Board $10,378 TOTAL $22,624

Non-Resident

    Tuition & Fees $ 28,187 Books & Supplies $ 1,749 Personal/Misc. $ 3,437 Room & Board $ 10,378 TOTAL $ 43,751

Cost of Attendance – Expected Family Contribution = Financial Need

    Amount family can reasonably be expected to contribute Stays the same regardless of college Two parts  Parent contribution  Student contribution Provided by the FAFSA information

1 2 Cost of Attendance (Variable) 3 EFC Expected Family Contribution (Constant) X Y EFC Need (Variable) Z

 Need-based  Non-need-based

 Scholarships  Grants  Loans  Employment Gift Aid Self-Help Options

 Money that does not have to be paid back  Awarded on the basis of merit, skill, unique characteristic, or community service  Scholarships can be Institutional, Regional, and/or National

 Available through:  Employers, businesses, churches, foundations, tribal affiliations. . .       Look here: Fastweb.com

Scholarships.com

Finaid.org

High school counseling Center College/University Websites

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Essay

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Pay attention to the prompt and be clear and direct with responses.

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Resume

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Be thorough with the activities, experiences, and any accolades you have acquired.

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Recommendation Letters

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Provide plenty of time for your recommender to complete their letter

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Interview

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Practice interviewing ahead of time to be prepared. Remember to be yourself.

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Transcripts

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Keep copies for multiple applications throughout this process.

 Money that does not have to be paid back  Usually awarded on the basis of financial need

 Money students and parents borrow to help pay college expenses  Repayment usually begins after education is finished  Only borrow what is really needed  Look at loans as an investment in the future

Allows student to earn money to help pay educational costs  A paycheck; or  Non-monetary compensation, such as room and board

   School makes the financial aid award Notifies student/family May be selected for verification:  Respond to all requests from school immediately  Provide ONLY information requested

 While completing FOTW, applicant may submit real-time request to IRS for tax data  IRS will authenticate taxpayer’s identity  If match found, IRS sends real-time results to applicant in new window  Applicant chooses whether or not to transfer data to FOTW

 Available early February 2014 for 2014–15 processing cycle  Participation is voluntary  Reduces documents requested by financial aid office

        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

 Notify your school in writing of any of the following:  Change in employment status  Medical expenses not covered by insurance  Change in parent marital status  Unusual dependent care expenses  Student cannot obtain parent information

 NOT a Grant/Scholarship/Aid  Undergraduate Colorado resident  Enrolled in eligible Colorado college  Must apply on-line (only once) CollegeInColorado.org

 Must authorize use at college

   Your High School Counseling Office Your College of Interest Financial Aid/Admissions/Scholarship Offices FinAid.Org