financial aid with fafsa
TRANSCRIPT
FINANCIAL AID 101
UCLA EARLY ACADEMIC OUTREACH PROGRAM2015-2016
Spring Checklist: Admissions Report D’s and F’s received Create & check school portals
(ASAP) Send SAT/ACT scores no later than
January Sign up for ELM/EPT Exam for CSU
if not exempt no later than April.UC’s will notify students who
need to take placement exam in May
Submit first semester transcripts IF requested by school in January
Complete FAFSA OR Dream Act by MARCH 2 Check status of CAL Grant Review Financial Award Letters
Complete CSS Profile (college board) if requested by Private School
Submit Intent to Register (SIR) to school of choice by May 1st
Sign up for Orientation and Housing as early as possible
Submit Final Transcripts – July 1st for UC July 15th for CSU
What is included in Cost of Attendance?
Room & BoardTuition
Health Insurance
Books and supplies
TransportationPersonal Expenses
Cost of AttendanceInstitution Cost of Attendance Tuition
Community College(CC)
Varies $2,000-$3,000*46 per unit
California State University
(CSU)$21,437 $6,119 – $9,000
University of California(UC) $33,600 $13,400
Independent/Private 42,000 - $79,000 $30,000-$65,000
College Prices at a Glance
Cost of Attendance (COA)
Gift Aid
= Net Cost (Expected Family Contribution (EFC) & Student Contribution from Work-
Study & Loans)
FINANCIAL AID EQUATION
How do I Apply for Financial Aid?www.fafsa.ed.gov
US Citizen or Legal Permanent Resident
www.caldreamact.org Undocumented or DACA AB540
StudentsOR
When do students apply for Financial Aid?
Deadline: March 2nd
Apply during Senior year of HS and every
year student will continue enrollment in
college!
Additional Financial Aid Forms CSS Financial Aid Profile IF
APPLIED TO PRIVATE SCHOOLS ONLY
CA GPA Verification Form – usually submitted by the school on behalf of
the student
FAFSA US Citizens & Permanent Residents
Federal State
College Private
Funds
Sources of
Aid
ScholarshipsFree
money based on merit or talent
Work StudyMoney Earned
based on need
GrantsFree
Money based on
need
LoansMust be repaid
Types of Aid
Gift Aid Self Help
1. Undocumented students who have attended a California school for 3 or more years
2. Will be graduating from a California high school or equivalent to a high school diploma (i.e. GED)
3. Will attend accredited California college
4. Fill out an affidavit agreeing to file for residency when possible
Are you an AB540 Student?
Dream Act AB540 (Undocumented)
ScholarshipsFree
money based on merit or talent
Work StudyMoney Earned
based on need (must have
DACA)Grants
Free Money
based on need
LoansMust be repaid
Typesof Aid
Gift Aid Self Help
State
College Private
Funds
Sources of
Aid
GRANT TYPE WHO CAN APPLY ANNUAL AWARD UP TO…
ELIGIBILITY REQUIREMENTS
Cal Grant A Undergraduates
FAFSA/DREAM ACT
$12,192(UC)$5,970(CSU)
$9,223(private)
3.0 + H.S. GPA financial need
Cal Grant B UndergraduatesFAFSA/DREAM
ACT
$1,656 (first yr)Tuition+ $1,656
2.0 H.S. GPA, financial need
Cal Grant C Technical and career students
FAFSA/DREAM ACT
$3,009Financial need
Federal Pell UndergraduatesFAFSA
$400 - $5,775 Financial need
CHAFEE $5,000 -You are or were in foster care
-financial need-not yet 22
Income Ceilings for Cal Grants
Note: Primary Home is not
considered an asset!
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Community College Fee Waiver
The California Community College Board of Governors’ Enrollment Fee Waiver (BOG Fee Waiver) covers the California Community College’s enrollment fee for California residents:who are eligible for need-based financial aid, orwho receive CalWORKs/TANF, SSI, or General Assistance
payments, orwhose family income falls below published income ceilings
Learn more about the BOG Fee Waiver at: cccapply.org/BOG_Waiver/
Work-Study (Federal Aid)• Federally subsidized wages • Flexible work schedule (usually on campus)• Part-time only (20 hrs max)• Network & build your resume
Loans (Federal)Student Loans vs. Alternative (Private) Loans
Lower & non-variable interest rate Borrowing cap of $31,000 for undergraduate degree Flexible payment plans and loan forgiveness programs
Subsidized Stafford Loan or Perkins LoanDoes not accumulate interest while in school
Unsubsidized Stafford LoanAccumulates interest while in school
PLUS (Parent) Loans
How is it that this is the image we conjure when we talk
about student loans
But this is the image we conjure when we talk about a car loan?
Changing Perspective• UC Estimated Cost of Attendance for 4 years is
valued at $134,400– Average debt for a UC graduate = $20,210
translating to monthly payment of $222– According to Edmunds, the average monthly
car payment is $479
Why Go to College?Attending college is an INVESTMENT. Higher Education is one of
the BEST decisions a person can make.
Unemployment Rate (%)
Median Earnings Per Year
$25,376
$34,736
$41,184
$57,252
$68,952
$82,732
$85,228
9.0
6.0
4.53.5
2.8
1.9
2.1 Professional
Professional
Masters
Bachelors
Associate
HS Diploma
No HS *Bureau of Labor Statistics 2014
How do I Apply for Financial Aid?www.fafsa.ed.gov
US Citizen or Legal Permanent Resident
www.caldreamact.org Undocumented or DACA AB540
StudentsOR
Common Documents UsedTax Forms
Check top left hand corner to see what type of tax forms were filed
W-2 Form
California Aid Report (CAR)-
E-mail sent to student, directing them to WebGrants to view on-line CARSent 2-4 weeks after both FAFSA and GPA are submitted, usually beginning in mid-February
If eligible will show Cal Grant amount for 1st 3 California colleges listed on FAFSA/ Dream Act
www.webgrants4students.org
Login
Login with Student Information
My FAFSA
Section 1 Selective Service Registration
• Male students who are between the ages of 18 and 25 years must be registered with Selective Service to receive federal and state aid
• Answer “Register me” only if you are male, aged 18-25, and have not yet registered.
• The student may also register by going to:www.sss.gov
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Student Eligibility
Never attended/ 1st year (even if you have taken college courses as a HS student
Say yes to work-study, unless you prefer more loans instead
KansasInclude all the schools you have applied or plan to
apply to for 2016-17
School Selection SummaryList a UC first.
If you did not apply to UC, list most expensive CA school first.
If applying to more than ten schools, wait for the processed Student Aid Report (SAR)to be emailed to you, go back to FAFSA, delete schools and add more.
Dependency Determination
Parent Demographics
The student will need to provide parental information:
IF parents to not have social security, fill in space with 000-00-0000 Parents
without social security must print out signature page and mail
Parent Tax Information
These fields are pre-filled based on FAFSA responses
IRS DRT (Parent) with User Information
Parent Financial Information
Notice that you the student will also be asked questions about income. Don’t put your parents information again! Blue sections are about you!
Sign and Submit, Parent SignatureSign and SubmitRecommend that parents and students sign the FAFSA electronically using FAFSAID
Parents without Social Security Numbers
Click on “Other options to sign and submit” for Paper Signature Page
Confirmation Page
Special Circumstances
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• Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as:– Loss or reduction in parent or student income or assets– Death or serious illness– Natural disasters affecting parent income or assets such as
the recent California wind storms, wild fires, floods, or mudslides
– Unusual medical or dental expenses not covered by insurance
– Reduction in child support, Social Security benefits or other untaxed benefit
– Financial responsibility for elderly grandparents, or– Any other unusual circumstances that affect a family’s
ability to contribute to higher education
Register for Exam at:https://ept-elm.ets.org/CSU/
Apply on line cccapply.org
Receive an email confirmation
and student ID within a week
Take Placement Exam
Math & English
Complete an Orientation
Schedule Appt. with College Counselor
Register for Classes
Applying to Community
College
Apply for Financial Aid