WELCOME TO FINANCIAL AID

Presented to you by: Mary Lou Harbin, College & Career Counselor

Conroe High School

What is Financial Aid?

Types of Financial Aid are:

• Scholarships• Grants• Employment

opportunities (work study)

• Loans

Categories of Financial Aid

• Merit Based1. Has a qualifying criteria such as contest,

specific performance in writing, speeches, projects, writing contests.

2. Past High School achievements in academics, sports, leadership, participation in school and community service

• Need Based1. How much money can I get? There are

three main rules to consider…a. It is the family’s primary responsibility to

pay for college (in so far as you are financially able to do so)

b. Your out of pocket expenses should be about the same (EFC)

c. You will qualify for more aid at a higher cost school (NEED)

Need Based Aid

• Definition of need is:

Cost of Attendance (Year)

(-) Expected family contribution

(=) Equals need

Cost of Attendance

• Tuition and fees• Books and supplies• Room and Board • Transportation• Miscellaneous Personal Expenses• Study aboard & special materials• Computer cost • Dependent care

Example of Need Based Aid

• School A School B• COA ($2,500) COA ($20,531)• EFC($12,000) EFC ($12,000)• No Need $8,531(Notice that as the cost increases, the need increases)

Applying for Financial Aid

Free Application forFederal Student Aid

(FAFSA)

Get a pin Number Now for You and your parent

Go to www.pin.ed.gov

You can use www.fafsa4caster.ed.gov

OrFAFSA worksheet to get

An idea of what yourEFC would be

And to help you gather itemsYou will need to complete the application online.

Jan. 1, 2011Go to www.fafsa.ed.gov

(paper applications

only per student request)

Financial Aid Package/Award Letter

• COA at the college/university• Minus EFC• Minus Pell Grant (income of $50,000 or less, can qualify for $400-$5500)

if received)• Minus ACG (freshman, top 10%, Dist. Achievement Diploma) or

SMART (Soph. - if PELL eligible & 3.0 $1300, Junior/senior if PELL eligible &

3.0 GPA $4,000) • Minus Scholarships (if any)• Minus Campus-based federal/state grants (if any)

• Minus Work Study• Minus Loans

Federal Aid• Pell Grant ($5800-9/2011)• Academic Competitiveness

Grant (ACG)• Science & Math Access to

Retain Talent (SMART)• Supplemental Education

Opportunity Grant• Federal Work Study• Perkins Loan Program• FFELP Loan Program (Federal

Family Education Loan Program- Stafford Loan/Plus Loan)

• Direct Loan Program (www.studentaid.ed.gov)

FAFSA Parent & Student Workshop

• Need help completing the FAFSA? Come and join us for our FAFSA workshop Night. We will have Financial aid counselors available to help you complete your FAFSA. Save the Date: Feb. 10, 2011 from 6:00 pm- 8:00 pm, in the CCC, we will hold a second session on March 8, 2011

• Please remember to bring with you copies of w-2s, if you have it a copy of your 2010 1040, investment information

• Our Goal is for you walk out of here with your FAFSA Completed!!!!!!!

Remember

• Financial Aid and student’s hard work go together to make financial aid work for the student.

Mary Lou Harbin,Counselor, College & Career Center

936-709-5777College & Career CenterHours: Monday – Friday

7:00 am – 3:00 pm