getting you to college! parents & seniors financial aid training beloit college upward bound
TRANSCRIPT
![Page 1: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/1.jpg)
Getting YOU to College!
Parents & Seniors
Financial Aid Training
Beloit College Upward Bound
![Page 2: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/2.jpg)
2
We will talk about:
• Federal student aid & the FAFSA
• State student aid
• Student aid from colleges
• Scholarships from other sources
• Life after the FAFSA
![Page 3: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/3.jpg)
3
We will answer:
• What is financial aid?• Who can get it?• How much can I get?• How do I apply?• What happens next?• Where can I get more info?
![Page 4: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/4.jpg)
4
What is financial aid?
– Grants **– both federal and state is available
– Loans – for students (& parents)
– Work-study ( earn DURING college)
– Scholarships** – local, regional, national & from the colleges
![Page 5: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/5.jpg)
5
Who can get federal student aid?
• U.S. citizen or permanent resident• High school graduate/GED holder• Eligible degree/certificate program• Valid Social Security number• Males registered for Selective Service• Satisfactory academic progress
![Page 6: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/6.jpg)
6
Who can get other kinds of financial aid?
• States, colleges, and private scholarships have their own eligibility criteria.
• Be sure you know what you need to do to qualify.
![Page 7: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/7.jpg)
7
How much federal student aid can I get?
In general, depends on your financial need.• Financial need determined by Expected Family
Contribution (EFC) and cost of attendance (COA)
• Your EFC is generated by what you report on the FAFSA
• COA is tuition, fees, room and board, transportation, etc.
COA – EFC = financial need
![Page 8: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/8.jpg)
8
How much federal student aid can I get?Example: first-year student in 2011-12Maximum amounts allowed: • Federal Pell Grant: TBD [$5,500 in 2010-11]• TEACH Grant: $4,000• Federal Stafford Loan: $5,500• Federal Perkins Loan: $5,500• Federal Supplemental Educational Opportunity Grant:
$4,000• Federal Work-Study: depends on funds available at school• Federal PLUS Loan (for parents): COA minus other aid
received
![Page 9: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/9.jpg)
9
How much federal student aid can I get?
For early estimate, use FAFSA4caster:• Go to www.fafsa4caster.ed.gov• Enter some financial information• Get an estimate
![Page 10: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/10.jpg)
10
How much state, school, and scholarship money can I get?
• Depends on the program: do your research!– WI : State of Wisconsin Higher Educational
Aids Board ---- www.heab.state.wi.us
– IL: Illinois Student Assistance Commission www.isac.org
![Page 11: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/11.jpg)
And don’t forget...
-Ask college financial aid offices for info about aid available at their schools IN ADVANCE
–Free scholarship search: www.studentaid.ed.gov/scholarship
![Page 12: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/12.jpg)
12
How do I apply for aid?
• Federal student aid: fill out Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov
• State aid: [insert info about any state forms necessary and where to get them]
• School aid: contact financial aid office at schools you are considering
• Scholarships: visit scholarship website or call contact number for information
![Page 13: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/13.jpg)
13
How do I apply for federal student aid?
1. Get a PIN at www.pin.ed.gov• Your parent might need a PIN too
• Choose your own PIN or let the site choose one for you
• Don’t tell anyone your PIN!
• DO NOT forget your PIN!
![Page 14: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/14.jpg)
14
How do I apply for federal student aid?2. (Optional) Use FAFSA on the Web
Worksheet to get ready.• Get worksheet at
www.studentaid.ed.gov/worksheet• Find a checklist of documents you need at
www.studentaid.ed.gov/pubs (“What Information Do I Need When I Fill Out the FAFSA?”).
• Fill out worksheet to prepare your answers.
![Page 15: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/15.jpg)
15
How do I apply for federal student aid?
3. Fill out your FAFSA online at www.fafsa.gov
• Apply on or after Jan.1 but as early as possible to meet all deadlines.
• Need help? Use “Live Help” icon or call 1-800-4-FED-AID.
• Don’t forget to save or print confirmation page.
![Page 16: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/16.jpg)
16
How do I apply for federal student aid?
4. Watch for response by e-mail, from [email protected], or by mail
• Double-check your information online at www.fafsa.gov (use your PIN to log on) or on the paper Student Aid Report or SAR mailed to you
• Correct any mistakes and update any information as necessary
![Page 17: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/17.jpg)
Attend College Goal Wisconsin!
• Saturday, February 23, 2013 – 2pm• Beloit Memorial High School• For WI and IL seniors• Financial Aid experts there to help• Bring all tax information and whatever
is requested on the FAFSA• Parents & Seniors attend• Scholarships given away
17
![Page 18: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/18.jpg)
18
Where can I get more info?
• www.studentaid.ed.gov – Information about aid programs– Free scholarship search– Free college search
• 1-800-4-FED-AID– Information about aid programs – Help with the FAFSA
![Page 19: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/19.jpg)
LIFE AFTER the FAFSA
……………WHAT’S NEXT?????
19
![Page 20: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/20.jpg)
ONCE YOUR FAFSA is COMPLETE...
• Look for your SAR via email.
• Be sure you had your SAR sent to the colleges where you applied.
20
![Page 21: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/21.jpg)
21
Watch for e-mails or letters from the schools you are considering—
-- via mail (a few)
-- via email (many)
-- via your college login (many)• Give the schools any additional
paperwork they ask for.
• Meet all deadlines or you could miss out on aid!
![Page 22: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/22.jpg)
22
What happens next?
• Each school will tell you how much aid you can get at that school. This is your AWARD LETTER or FINANCIAL AID PACKAGE.
• Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.
![Page 23: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/23.jpg)
What does the Fin Aid Package mean?
• It means the university wants to offer you a combination of financial aid (some free money and some not) in order to attend.
• We HIGHLY suggest meeting with us when you get this package to make sense of the offer.
23
![Page 24: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/24.jpg)
What might be in the letter?
• Federal loans
• Federal and state aid (free money)
• School scholarships & aid
• Work study (money comes LATER)
• Parent PLUS loans (NOT a student loan & requires a credit check)
24
![Page 25: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/25.jpg)
What should I know about this financial aid package?
• It is ONLY an offer. Nothing is finalized.
• Every college prepares these differently. Some show the COA, some show just the tuition, room & board. Look at the fine print!
25
![Page 26: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/26.jpg)
What else should I know about this financial aid package?
• You must ACCEPT in order to move forward with the package.
• You do not have to accept every aspect of the package.
• You should call the financial aid office if you are unsure of the offer.
26
![Page 27: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/27.jpg)
When do I make a decision?
• You make a decision about the offer when you are certain you will go to that college.
• Most deadlines are May 1st at the latest. You can decide sooner.
27
![Page 28: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/28.jpg)
How do I accept an offer?
• Follow the directions of the college for accepting the offer.
• Be sure to electronically sign the PROMISORY NOTES for any federal student aid.
• Have copies of what you did in your email or hard copy.
28
![Page 29: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/29.jpg)
I am SET for college – now what?
• Be prepared to make a housing deposit – (average $250) in April
• Some requires deposits sooner to hold limited on-campus housing
• Be sure to understand the housing options. Most will not waive this fee.
29
![Page 30: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/30.jpg)
My housing is set – now what?
• Be sure you are registered for the college’s freshmen orientation (parents usually join) in the summer.
• Take any placement tests – English, Math, foreign language, etc.
• Be sure to submit your FINAL transcript and any AP credit
30
![Page 31: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/31.jpg)
What if I get local scholarships?
• Work with the financial aid office at the college to find out how they will disperse the funds to you, or put it toward your bill.
• Be sure to send a THANK YOU for local or ANY scholarships.
31
![Page 32: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/32.jpg)
How else should I prepare?
• Save, save, save. $1,000 can go a long way for books, supplies, etc.
• Connect with your roommate to work out room details.
• Get a jumpstart on a possible work-study job if you can.
32
![Page 33: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/33.jpg)
And------• Get enrolled in a summer bridge
program at the college IF it is available to you (SSS or others)
• Have a good sense of your technological resources (theirs or yours) and internet accessibility
• Make a plan (with your parents )for your budget, communication, dealing with stress.
33
![Page 34: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/34.jpg)
WHEN YOU GET TO COLLEGE..• Stay organized.
• Ask questions when you are unsure.
• Stay calm and take things one step at a time.
• Network!!!
• Remember why you are there.
• Have fun --- this is an EXCITING TIME IN YOUR LIFE!!!!
34
![Page 35: Getting YOU to College! Parents & Seniors Financial Aid Training Beloit College Upward Bound](https://reader036.vdocument.in/reader036/viewer/2022081603/56649cb15503460f94976d62/html5/thumbnails/35.jpg)
35
Questions?