Transcript Now that I’ve applied to college… how do I pay for it?

Now that I’ve applied to college…
how do I pay for it?
 Grants and scholarships – money that you do not have to
pay back
 Work-Study – your college can help you find a part-time
job on or off campus –
Loans – money that you borrow that must be repaid with
interest – you should always take out federal loans first –
VERY low interest rates !
What you need to know ~
 Deadline dates
 Private colleges set their OWN deadlines –
make sure you check individual college
websites – most will be due in early 2009,
typically in January or February
 Public universities in California use March
2nd as a deadline
What do I need to file?
 FAFSA – Free Application for Federal
Student Aid (can begin to file on 1/1/12)
 The first step in the financial aid process
 Use it to apply for federal student aid, such
as grants, loans, and work-study
 Most states and colleges use the FAFSA to
award non-federal aid
 Private AND public colleges use FAFSA to figure
out your financial aid package
What can I do before 1/1/12
regarding the FAFSA?
 You can apply for your PIN at www.pin.ed.gov
before beginning your FAFSA
 Since the FAFSA has parent information
required, one parent needs to apply for a PIN
(their own) at www.pin.ed.gov
 You can consult with private college
financial aid offices if you have special
circumstances!
And, once you’re enrolled
in college….
 You will have a chance to re-apply for
more financial aid consideration….so do
know that financial support will be
available to you AFTER you enter
college, too!
 Don’t miss any deadlines – and see your
college counselor with any questions!
FAFSA – continued
 What is the EFC?
 Expected Family Contribution –
 Your answers on the FAFSA help determine
what your family can contribute for your college
expenses
 How do I find out what my EFC is?
 FAFSA sends you a Student Aid Report (SAR)
after you fill it out; on the SAR is listed your
Expected Family Contribution
How do colleges know my
financial need?
 You will list your colleges on the FAFSA
form and they will electronically receive
your information – including the Expected
Family Contribution.
 Financial need is the difference between
your EFC and your college’s cost of
attendance (which can include living
expenses).
When do I hear about my
scholarship/financial aid?
 Typically you will hear about the same
time you hear about admissions.
 Financial aid is ‘paid’ to you through the
college, so your award will go directly to
tuition and room and board fees.
What is the PROFILE?
 The PROFILE is a service of the College
Board.
 Colleges (private) use the information to help
them award private grant and scholarship
funds.
 Not every college uses the PROFILE – a list is
available on-line at www.collegeboard.com –
click on Pay for College – and then
CSS/PROFILE
PROFILE, continued
 The PROFILE adds more information
about your financial situation (remember,
the FAFSA is required for ALL postsecondary institutions if you are applying
for aid)
 You can provide explanations about
special circumstances so that decisions
about $$$ are made with as much
information as possible.
When should I file the
PROFILE?
 You can register for the PROFILE right
now – at www.collegeboard.com. Click
CSS/PROFILE under “Pay for College”
 After you register, you will be able to fill
out your application for those colleges
that REQUIRE the PROFILE (Santa
Clara does, for example; St. Mary’s in
Moraga does not)
Check the following:
 Naviance, under Scholarships, for local
and national scholarships
 www.fastweb.com – create a free
account for yourself for weekly
scholarship updates
 College counseling e-mails on the Notre
Dame site since we send out notices
weekly with scholarship opportunities