FINANCIAL AID: Paying your way through college

THREE STEPS TO GETTING PAIDWhere to start the financial aid process

STEP 1 – FILE THE FAFSA

Determines eligibility for financial aid

Free Application for Federal Student Aid (www.fafsa.ed.gov)

January 1st – March 2nd (Priority filing date: February 15th )

Don’t forget the PIN!! (www.pin.ed.gov) Electronic signature (parent and student)

STEP 2 – FILL OUT CAL GRANT VERIFICATION FORM

In CA students get free money!

Eligibility: Minimum 2.0 GPA www.calgrants.org

Deadline: March 2011

STEP 3 – STUDENT AID REPORT (SAR)

Review & Complete

Check for mistakes

MAKE CORRECTIONS!

List potential schools

NOT ALL MONEY IS THE SAMEWhat are the choices?

GRANTS V. LOANS

Based on financial need

Free money! Pell Grants

Federally funded Cal Grants

State funded for CA residents

Different types; check requirements

Federal money All income levels Deferred payments

Subsidized loan No interest

Unsubsidized loan Interest accrues

PLUS program For parents

Grants Loans

WORK STUDY V. SCHOLARSHIPS

Must be eligible to work in the U.S.

Wages are subsidized Federal State School

On and off campus School employment

office

Free money! Maybe…

Eligibility: Academic achievement Financial need Specific characteristics

Where to look? Schools Community

organizations Businesses

Work Study Scholarships

RESOURCESPlease see your handouts!

QUESTIONS?