Transcript Slide 1

Funding Your Future
Financial Aid
Overview
Topics
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Introduction
What is financial aid?
Sources of financial aid
Eligibility requirements
How to apply?
What happens after?
Where do I get help?
Other information
What is financial aid?
Financial aid are funds provided to
students and families to help pay for
postsecondary educational expenses
Sources of Financial Aid
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Private sources-scholarships
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Federal and State Grants
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Student Loans
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Work Study
Scholarships
Awarded on the basis of skills, gpa
or unique characteristic
 Free money
 Foundations, high schools,
businesses, charitable
organizations, employers, unions
 Deadlines vary
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The Cuesta Promise
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2013-2014 SLO County high school
graduates
Fall 2014 semester fees covered
Complete the Cuesta scholarship
application by March 2, 2014
Guaranteed to all students who complete
the promise steps regardless of income or
gpa
Federal Government
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Largest source of financial aid
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Aid awarded primarily on the basis
of financial need
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Must complete the FAFSA
Common Federal Programs
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Pell Grant
Federal
Supplemental
Opportunity Grant
Federal Work Study
Teach Grant
Federal Loans
-Subsidized
-Unsubsidized
 PLUS- Parent Loan
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Limitations of Federal Aid Programs
 Pell
Grant 12 full-time semesters
 Direct Subsidized Loans 150% of the
length of program
 To track financial aid history:
http://www.nslds.ed.gov/nslds_SA/
California State Grants
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Residency requirements
Aid awarded on the basis of both gpa and
need
Must complete the FAFSA
Common CA State Programs
AB540
 Cal-Grants
 Chafee
 University Grants
 Middle Class Scholarship
 Board of Governors Fee Waiver
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AB540
Allows non-resident students to
receive state grant opportunities
 Must complete application at
college/university
 Admissions Office determines
eligibility
 Student is able to complete the
FAFSA or Dream Act application
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Cal-Grants
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Must submit FAFSA or Dream Act
Students/school must complete a GPA
verification form
Verify if your high school submitted
your GPA
Visit www.webgrantsforstudents.org
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Deadline March 2nd, 2014
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Chafee
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Available for foster-youth
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Must complete an online
application
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Limited funds
University Grants
Available at private and public
universities
 Funds may be limited
 Follow-up with your school of
choice
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Middle Class Scholarship Program
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New, transfer and returning
undergraduate students
California State University or University of
California
Family income of up to $150,000
Complete the FAFSA or Dream Act
application
Board of Governors Fee Waiver
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Waives enrollment fees at
community colleges
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You must complete FAFSA or
Dream-Act
Eligibility Requirements for
Federal and State Aid
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Be a U.S. citizen or eligible non-citizen
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***Have a valid social security number***
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Register with Selective Service
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High school diploma/GED/homeschooled
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Enrolled in an eligible degree or certificate
program
How do I apply for 2014-15?
Complete the FAFSA or Dream Act
 Apply online www.fafsa.gov or
 www.csac.ca.gov/dream_act.asp
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Application is available starting
January 1st
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Colleges may set their own
deadlines
Dream Act Application
California application for financial
aid
 Only for students who do not have
a SSN
 Students complete this instead of
the FAFSA
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Frequent Application Delays
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Transposed Social Security Numbers
Marital status
Income information
Taxes paid
Household size
Number in college
Asset information missing
Missing student/parent signatures
What happens after?
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Student will receive a Student Aid
Report (SAR); make corrections
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Student will have an Expected Family
Contribution (EFC)
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School may require student/parent to
submit additional documentation
Need Varies Based on Cost
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X
2
Y
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Cost of
Attendance
(Variable)
Z
EFC
EFC
Expected Family
Contribution
Need
(Constant)
(Variable)
How can I help as a parent?
Complete income taxes early
 Use the IRS Data Retrieval Tool
 Request IRS Transcripts
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Online: www.irs.gov
Transcript Type: Return Transcript
Phone number: 1-800-908-9946
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Have your son/daughter follow-up with the
financial aid office!
Where can I obtain help?
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Cash for College Workshops:
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Enter in a $1000 Scholarship raffle
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February 11th Cuesta SLO Campus
February 12th Paso Robles Campus
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FAFSA, Dream Act, Cuesta Scholarship
Application
Special Circumstances
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Change in employment status
Medical expenses
Unusual dependent care expenses
Loss of parent or student income
Any other unusual circumstances that
affect a family’s ability to contribute to
higher education
Electronic Payments
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Students have options to receive
financial aid or tuition
disbursements:
 Receive disbursement on a debit
card
 Direct deposit into a personal bank
account
 Request a paper check
Questions?
Cuesta College
www.cuesta.edu
805-546-3143