Financial Aid and Scholarships

MINI-CAMP COLLEGEWORKSHOPS

How can I pay for college?

How much does it cost? 65% of full time undergraduates at 4

year institutions pay $9000 or less per year for tuition and fees

Paying for college is a partnership The best plan will include funding from

a variety of sources—student, family, state, federal and private programs

What is Financial Aid?

Gift Aid Grants and Scholarships

“Free” money—you don’t have to pay it back!

Self-Help Aid Work-Study

Job opportunity to earn money Loans

money borrowed that must be repaid

or cancelled through service

Categories of Aid

Merit Based

Need Based

College Planning Calendar Make a list of college or universities to

which you may apply Review the web sites for the schools on

your list to find deadlines for submitting the application for admission, scholarship applications and financial aid applications

Keep a calendar of these deadlines with reminders for important events

Sources of Financial Aid

Private

Institutional

State

Federal

How to Apply for Private Aid Ask your high school counselor Contact your parent’s employer Make a list of organizations you or

your parents are affiliated with Complete scholarship searches –

FastWeb.com, Zinch.com, CollegeBoard.com

Apply for Institutional Aid Academic Achievement Work Study Loans Grants

Completing the FAFSA

Taking it one step at a time

Hurry up! And wait…

Need Based Aid Application Process Free Application for Federal Student

Aid (FAFSA) www.fafsa.ed.gov Required for some state aid Pell Grant Supplemental Educational Opportunity Work Study Student Loans

Getting Ready

Apply for student and parent PIN Gather records you will need

Student driver’s license & social security card W-2 forms and other records of money earned Federal income tax returns Records of untaxed income Current bank statement Business and farm records Records of stocks, bonds and other investments

Submitting Your Electronic Application Print a copy for your records

Federal Student Aid ProgramsP.O. Box 4014Mt. Vernon, IL 62864-8614

Chelsea Jones333 N. Main StreetBig City, CA 92345

What Happens Next?

Student and school receive Student Aid Report (SAR) from federal processor

Schools mail award letter to student

The Award Letter

Provides Important Information Types and amounts of aid offered Student responsibilities Conditions governing awards Opportunity to accept or decline

awards

Award Letter

Figuring it Out – Comparing Awards Review types, amounts and

renewal requirements Compare types and amounts of

self-help aid Be sure to review the total cost of

attendance for each institution-the bill and out-of-pocket expenses

Award Letter

Award Letter

Additional Resources

CollegeBoard.com Award comparison tool Expected Family Contribution Calculator Student Scholarship Search Profile Application Online

Your High School Counselor Financial Aid and admission

counselors at the schools on your application list