FINANCIAL AID INFORMATION

2010-11 Academic YearPresented by:

Student Financial Services Bureau

State of MichiganMichigan Department of Treasury

www.michigan.gov/studentaid

What You Will Learn Today

Section 1 General Financial Aid Overview Types and Sources of Financial Aid Free Application for Federal Student Aid (FAFSA)

Section 2 Federal Programs

Section 3 State of Michigan Programs

Section 4

– Scholarship Searches and Scams

– Other Resources

What is Financial Aid?

Money for postsecondary education expenses

- Need-based vs. Non-need (Merit) based

- Campus-based vs. Student-based

Purpose of Financial Aid

Promote accessibility

Produce educated workers

Help retain good students

Provide incentives

Reward academic achievements

Influence choice

Types of Financial Aid

Gift Aid- Scholarships- Grants

Self Help Aid- Work-Study- Educational Loans

StudentsParents

Tax Credits & Deductions

Financial Aid Principles

Paying for the student’s educational costs is the primary responsibility of the student and the parent(s)

Families are evaluated on ability to pay for educational costs – not willingness

Families are reviewed and assessed in their present financial condition

Families are evaluated in an equitable and consistent manner, recognizing that special circumstances may affect a family’s ability to pay

Expected Family Contribution

Determined by Federal formula from the information reported on the FAFSA

Parent’s contribution from income and assets

+ Student’s contribution from income and assets

= Expected Family Contribution (EFC)

Financial Aid Eligibility Equation

Cost of Attendance

- Expected Family Contribution

= Financial Need

Cost of AttendanceTuition and fees

Room and board

Books, supplies, equipment, transportation, and miscellaneous personal expenses

Loan fees

Study abroad costs

Disability related expenses

Dependent or elder care expenses

Cooperative education program costs

Comparing Need

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$28,065

$18,247

$10,161

$1,000

$27,065

$17,247

$9,161

General Eligibility Requirements

U.S. citizen or eligible non-citizen

High school graduate, pass the GED test, or have the ability to benefit (as determined by a standardized test)

Enroll in a degree or certificate program (may not be a regular high school student at the same time)

Register with selective service, if required

May not have eligibility suspended or terminated due to drug-related conviction

Maintain satisfactory academic progress

Undergraduate Student Aid by Source (in Billions), 2008-09

Source: The College Board, Trends in Student Aid 2009

Seniors, Get Organized!

NovemberCollege admissions applications College essaysLetters of recommendation Mail applications as early as possibleSAT tests

DecemberWrap up college applications before winter break. Early application responses arrive this month. Get your PIN number. (Remind parents to get a PIN also)

JanuaryFile the FAFSA between now and the end of February

Free Application for Federal Student Aid (FAFSA)

Only form approved for awarding federal aid – no fee

Collects family’s personal and financial information

Available in English and Spanish

Filing Options Electronic (preferred) Paper

www.fafsa.gov

FAFSA Information & Tips

File as soon as possible after January 1

State Priority Date: Due at processor by March 1

Estimated prior year figures may be submitted

Dependent student and at least one parent whose information is reported must complete and sign the FAFSA each year

Independent student does not need a parent’s signature

Personal Identification Number (PIN)

Serves as electronic signature on U.S. Department of Education (ED) documents.

Obtain PIN at:- www.pin.ed.gov, or- 1-800-4-FED-AID

Response Time - Email: Immediately- Mail: 7 to 10 days

Each student and at least one parent must have a PIN to use

as an electronic signature on the FAFSA.

www.federalstudentaid.ed.gov

Clickhere for

access to the paper

FAFSA, a link to online

version, as well as the

FAFSA worksheet.

FAFSA Overview

Section 1: Student Information

Section 2: Student Dependency Status

Section 3: Parental Information

Section 4: Student Finances

Section 5: Colleges to Receive Information

Information Needed Before starting the FAFSA, gather:Before starting the FAFSA, gather:

- Student’s driver’s license - Student’s driver’s license - Student Alien Registration Card- Student Alien Registration Card- Student and Parent prior year tax information- Student and Parent prior year tax information

Social Security cardsSocial Security cards W-2 forms and other records of money earnedW-2 forms and other records of money earned Federal income tax form (even if not completed)Federal income tax form (even if not completed) Records of untaxed incomeRecords of untaxed income Current bank statementsCurrent bank statements Business, farm, and other real estate recordsBusiness, farm, and other real estate records Records of stocks, bonds, and other investmentsRecords of stocks, bonds, and other investments

Create a file for copies of all financial aid documentsCreate a file for copies of all financial aid documents

Student InformationDemographic information

Data matches- DHS (citizenship) - Social Security - IRS - Selective Service- NSLDS - Veteran’s Administration

Be careful on:- Spelling of name (as it appears on Social Security card)- Social Security Number- Date of Birth- Email address (All correspondence will be sent to this address.)

Collects information about the student’s:- Residency- Selective Service

- Males can register with Selective Service- Drug Conviction Status (DO NOT SKIP)- Parents’ College Education- Education Goals (unsure? mark full-time)- Interest in Work-Study and Loans

Answering “Yes” to work-study and loans does not obligate the student

Student Information (continued)

Student Dependency Status

Determines student’s dependency status

An independent student is one who:Is 24 years of age, orIs married, orIs working on a master’s degree or higher, orIs currently serving on active duty in the U.S. Armed Forces, orIs a veteran of the U. S. Armed ForcesHas a legal dependent who receives more than half their support from the student, orIs an orphan or ward of the court Is an emancipated minor or unaccompanied youthWas a foster child or ward of the court after the age of 13

All other students are dependent

Parental InformationA dependent student must complete this section:

Report information for biological or adoptive parent(s)

Which parent to use if divorced/separated:In the past 12 months:

Which parent did you live with more, orWhich parent provided more financial support?

Not considered parents:GrandparentsLegal guardiansFoster parents

Collects parents’: Marital statusSocial Security Numbers, last name, date of birth Residency (important for state aid)Income tax filing status and prior year’s incomeExemptions and number in household

Parental Information (continued)

How many in household will be in college (exclude parents from number in college)

Information about the parent’s untaxed income and benefits

- Retirement contributions - Welfare benefits- Child support received - Disability benefits- Workmen’s comp benefits - Tax exempt benefits- Untaxed portion of social - Military security benefits and pensions

Information that can be excluded from parental income- Education tax credits- Child support paid

Parental Information (continued)

Investment Assets- Include: Trust funds, 529 college savings plans,

mutual funds, real estate, investments, second home, vacation home, or rental home

- Do not include: Primary residence, retirement funds (IRAs, 401k, 403b, Keogh, SEP, etc.)

Business and Farm Assets- Do not include: Farm that you live on and operate- Do not include: A small business (family owns more

that 50%) that has 100 or fewer full time equivalent employees

Student Finances

Collects student’s Prior year income (tax filing status, type and amount of income)Student’s assets and veterans education benefits Independent student’s household and exemptionsUntaxed income and benefitsInformation that can be excluded from incomeNet Worth: Current value minus debt

Report the worth as of the date you file the FAFSACurrent value of cash, checking, and savings accountsInvestment Assets

Include: Trust funds, UGMA accounts, etc.Business and farm assets (not primary residence)

Schools to Receive Information

List up to 10 colleges the student is considering (list 4 on the paper FAFSA)

- Online search capabilities for school codes- List at least one Michigan college choice

Indicate the type of housing plan for each school

All colleges listed will have access to the student’s FAFSA records electronically

Professional Judgment

Professional Judgment refers to the authority of a college's financial aid administrator to make adjustments to the data elements on the FAFSA and to override a student's dependency status.

Each college is responsible for approval

Results may differ between colleges

Emancipation, Homeless, and Unaccompanied YouthFinancial aid office may require student to provide a copy of the determination if student answered yes to these questions.

Special Circumstances

Financial circumstances may change in year of filing.

Contact the Financial Aid Office if there is:Loss or reduction in parent or student income or assetsDeath or serious illnessNatural disasters affecting parent income or assetsUnusual medical or dental expenses not covered by insuranceReduction in child support, social security benefits or other untaxed benefitFinancial responsibility for elderly grandparentsAny other unusual circumstances that affect a family’s ability to contribute to higher education

Completing FAFSA on the Web-FOTW

More than 95% of FAFSAs are now filed online.

Parents with more than 1 college student can transfer data from original application to others

Faster turnaround; more accurate

www.fafsa.gov

FOTW Worksheet

Families can use time wisely by completing a worksheet before accessing FOTW

Available on Web site, order worksheets at www.fsapubs.org or by phone 1-800-394-7084

View a draft of the worksheet on the Web at the URL below.

www.ifap.ed.gov - Click on FAFSAs and Renewal FAFSAs link under Publications

Reasons to File Electronically

Built-in edits to prevent costly errorsSkip-logic allows student and/or parent to skip unnecessary questionsMore timely submission of original application and correctionsMore detailed instructions and “help” for common questionsAbility to check application status online

Submit the FAFSA

Transmit FOTW with appropriate signatures, or

Mail the original paper FAFSA to the address listed on the front of the FAFSA

Keep a file containing FOTW worksheet Copy of tax returnsCopy of income documents, and asset informationStudent and parent PINs

“Practice” FAFSA Options

FAFSA Demo siteWeb address: fafsademo.test.ed.gov

User name: eddemo

Password: fafsatest

FAFSA4CasterSimulates FOTW

Provides early estimate of Federal aid eligibility

Can transfer information to FOTW when ready to file FAFSA

What’s New for 2010-11: FAFSA

Student marital status - question #16: Report your marital status as of the date the FAFSA is signed; cannot be updated

State deadlines updated – Michigan, March 1, 2010 (must be received by this date)

Questions 44(f) and 92(f) collect amounts earned from co-op programs at colleges; it will be excluded from income

What’s New for 2010-11: FOTW

Male students over the age of 26 will not be asked whether they want to be registered for Selective Service.

Students who are independent because of their age or marital status will be asked only the dependency status questions regarding children or other dependents.

Certain criteria has been added for certain homeless students to be considered independent.

What’s New for 2010-11: FOTW

First-time college students will not see the drug conviction eligibility question because these applicants have never received Title IV aid.

Veterans educational benefits are not considered as estimated financial assistance.

What’s New for 2010-11

Children of Soldiers

Maximum Federal Pell Grant eligibility for a student whose parent or guardian was a member of the Armed Forces and died as a result of performing military service in Iraq or Afghanistan after 9/11/2001, provided that child was under 24 years old or was enrolled in college at the time of the parent or guardian’s death.

Eligible students will be identified through the Departments of Defense and Veterans Affairs

What’s New for 2010-11

Special Exceptions

Student’s parents refuse to provide information for FAFSA

Student can borrow an unsubsidized Stafford loan only-must document with college or university

Student doesn’t have contact with parents due to estranged relationship or other circumstances (possible dependency override)-documentation required-must contact financial aid office at college/university

REVIEWFOTW Filing Tips

Gather necessary documents ahead of timeComplete a FOTW Worksheet Be aware of deadline datesSave all work periodicallyCheck the FOTW for accuracy Student and parent sign using PINPrint a copy of the FOTW before submittingKeep a copy of the Confirmation Page

Other Important Tips for Students

Encourage students to submit the FAFSA between January 1 and March 1, 2010

Due to economic circumstances in Michigan, colleges/universities have experienced an increase in financial aid applications

Submitting the FAFSA after high school graduation is considered late by most schools

Student may not have funds available when classes start if they apply late

Respond promptly to requests for information

Delays can mean losing funds for which the student may be eligible

COLLEGE NAVIGATOR

Find out information about the school you want to attend.

www.nces.ed.gov/collegenavigator

Supplemental Forms

Institutional application

Stafford loan application

Parent (PLUS) Loan application

CSS Financial Aid PROFILE (school aid)

After Submitting the FAFSA

FAFSA information is received, processed, and the results are sent to:

The studentThe college(s)The Michigan Department of Treasury, Office of Scholarships and Grants

Student Aid Report (SAR)

The SAR summarizes the information you report on your FAFSA.

The schools listed on your FAFSA receive copies of your SAR and use the information to determine if you are eligible for federal student aid.

If you filed online and provided a valid e-mail address, you will receive an e-mail within a few days of filing that contains a secure link so you can access your SAR on the Web.

If you filed a paper FAFSA or did not provide a valid e-mail address, you will receive a paper SAR in about three to four weeks after submitting the FAFSA.

It is crucial that you review it and make sure it is accurate and complete.

Review the SAR

Review the SAR for accuracy; if corrections are needed, correct online or contact college

The Financial Aid Office will review your documents and determine your aid eligibility

SAR may be selected for verification (verification requires submission of income documents and a verification worksheet)

Aid cannot be processed until all required documents have been submitted to the Financial Aid Office

Correspondence from College

Everyone who applies will receive notification from the college regarding their eligibility

Read all correspondence and promptly follow instructions

You do not have to accept all award types, but the college may not replace it with something else

Contact the Financial Aid Office if you have questions about your award

ABC UNIVERSITYOffice of Student Financial Aid

Financial Aid Award

Samantha A. StudentMarch 22, 2010 College Way Award Year: 2010-11Anytown, VA 20000 SSN: 123-45-6789

Dear Ms. Student:

After reviewing your FAFSA, we are pleased to provide you with the following financial aid offer. This award is contingent upon anticipated annual renewal of funding from federal, state, and private sources.

You may accept or decline any of the awards offered.

Projected Cost of Education - $15,000 Expected Family Contribution - $3,000

Total Financial Need $12,000

Type of Aid Fall - Spring Total Accept Decline

Pell Grant $600 - $600 $1,200 ( ) ( )

FSEOG $800 - $800 $1,600 ( ) ( )

SLM Grant $1,000 - $1,000 $2,000 ( ) ( )

Work-Study $700 - $700 $1,400 ( ) ( )

Perkins Loan $600 - $600 $1,200 ( ) ( )

Stafford Loan $1,300 - $1,300 $2,600 ( ) ( )  

Total $5,000 - $5,000 $10,000        

Please sign this letter and return it to the financial aid office within two weeks. Read the enclosed information on how to apply and receive the Federal Stafford Loan offered in this letter. If you need additional funding to supplement this offer, please refer to the attachment for information on additional funding options.

Signature

Federal ProgramsFederal ProgramsNeed-based

Pell Grant

Federal Supplemental Educational Opportunity Grant (FSEOG)

Academic Competitiveness Grant (ACG)

National Science and Mathematics Access to Retain Talent (SMART) Grant

Work-Study

Perkins Loan

Subsidized Stafford Loan

Non need-basedUnsubsidized Stafford Loan

Parent Loan (PLUS)

Grad PLUS Loan

Robert C. Byrd Honors Scholarship

Teacher Education Assistance for College and Higher Education (TEACH) Grant

Need-Based Federal AidNeed-Based Federal Aid

Federal Pell GrantFederal Pell GrantUndergraduates pursuing first bachelor’s degreeUndergraduates pursuing first bachelor’s degreeAmount determined by the EFCAmount determined by the EFCAward prorated base on enrollment statusAward prorated base on enrollment statusPortablePortableAnnual Award Limits (currently) $976 to $5,350Annual Award Limits (currently) $976 to $5,350

Federal Supplemental Educational Federal Supplemental Educational Opportunity Grant (FSEOG)Opportunity Grant (FSEOG)

Undergraduates pursuing first bachelor’s degreeUndergraduates pursuing first bachelor’s degreePriority to Pell recipientsPriority to Pell recipientsMaximum is $4,000Maximum is $4,000

Need-Based Federal Aid Need-Based Federal Aid (continued)(continued)

Academic Competitiveness Grant (ACG)Academic Competitiveness Grant (ACG)

Eligible for a Federal Pell GrantEligible for a Federal Pell Grant

U.S. CitizenU.S. Citizen

Enroll full-time as 1st or 2nd year undergraduate Enroll full-time as 1st or 2nd year undergraduate studentstudent

Complete a rigorous program of study in high Complete a rigorous program of study in high schoolschool

Maximum award 1st year - $750Maximum award 1st year - $750

Maximum award 2nd year - $1,300Maximum award 2nd year - $1,300

PortablePortable

Need-Based Federal Aid Need-Based Federal Aid (continued)(continued)

National Science and Mathematics Access to National Science and Mathematics Access to Retain Talent (SMART) GrantRetain Talent (SMART) Grant

Eligible for Federal Pell GrantEligible for Federal Pell Grant

U.S. CitizenU.S. Citizen

Enroll full-time as a 3rd or 4th year undergraduate studentEnroll full-time as a 3rd or 4th year undergraduate student

Achieve a grade point of at least a 3.0Achieve a grade point of at least a 3.0

Pursue a four-year degree in physical, life, or computer Pursue a four-year degree in physical, life, or computer science; mathematics; technology; engineering; or foreign science; mathematics; technology; engineering; or foreign languages critical to national securitylanguages critical to national security

Maximum award for 3rd and 4th years is $4,000Maximum award for 3rd and 4th years is $4,000

PortablePortable

Need-Based Federal Aid Need-Based Federal Aid (continued)(continued)

Federal Work-StudyFederal Work-StudyEmployment may be on or off campusEmployment may be on or off campus

Available for part-time and full-time students, undergraduates Available for part-time and full-time students, undergraduates and graduatesand graduates

Wages vary depending on type of workWages vary depending on type of work

Federal Perkins LoanFederal Perkins LoanMaximum is $5,500 a year for full-time or part-time Maximum is $5,500 a year for full-time or part-time undergraduate studentsundergraduate students

Interest rate fixed at 5%Interest rate fixed at 5%

Nine (9) month grace periodNine (9) month grace period

Deferment and cancellation provisions availableDeferment and cancellation provisions available

Need-Based Federal Aid Need-Based Federal Aid (continued)(continued)

Federal Subsidized Stafford LoanFederal Subsidized Stafford LoanFederal Family Education Loan Program (FFELP) Federal Family Education Loan Program (FFELP)

- Funds provided by lenders (e.g., banks or credit - Funds provided by lenders (e.g., banks or credit unions)unions)

Federal Direct Loan Program (Direct Loan) Federal Direct Loan Program (Direct Loan) - Funds provided directly by federal government via - Funds provided directly by federal government via

participating schoolsparticipating schoolsSchool determines eligibility; delivers proceeds to studentSchool determines eligibility; delivers proceeds to studentAnnual loan limits:Annual loan limits:

• $3,500 for 1st year undergraduates$3,500 for 1st year undergraduates• $4,500 for 2nd year undergraduates$4,500 for 2nd year undergraduates• $5,500 for each remaining undergraduate year$5,500 for each remaining undergraduate year

Interest rate fixed at 5.6% (loans made after July 1, 2009)Interest rate fixed at 5.6% (loans made after July 1, 2009)Six (6) month grace periodSix (6) month grace periodDeferment, forbearance, and cancellation provisions availableDeferment, forbearance, and cancellation provisions availableED pays interest while in schoolED pays interest while in school

Non Need-Based Federal AidNon Need-Based Federal Aid

Stafford Unsubsidized LoanStafford Unsubsidized LoanFFELP or DirectFFELP or DirectFixed 6.8% Interest Rate (after July 1, 2009)Fixed 6.8% Interest Rate (after July 1, 2009)Student charged interest while in schoolStudent charged interest while in school

PLUS LoanPLUS LoanParent loan program for parents of dependent undergraduate Parent loan program for parents of dependent undergraduate students (parents must have good credit history)students (parents must have good credit history)Annual loan limit – cost of attendance (COA) minus other aidAnnual loan limit – cost of attendance (COA) minus other aidFixed interest rate Fixed interest rate

- 8.5% for FFELP PLUS Loan- 8.5% for FFELP PLUS Loan- 7.9% for Direct PLUS Loan- 7.9% for Direct PLUS Loan

Repayment begins 60 days after loan is fully disbursedRepayment begins 60 days after loan is fully disbursedOnly principal may be deferred under certain conditions; interest Only principal may be deferred under certain conditions; interest may be capitalizedmay be capitalized

Grad PLUS LoanGrad PLUS LoanAvailable to graduate studentsAvailable to graduate students

Non Need-Based Federal AidNon Need-Based Federal Aid (continued)(continued)

Robert C. Byrd Honors ScholarshipRobert C. Byrd Honors ScholarshipNominated by high school principalNominated by high school principalMaintain satisfactory academic progressMaintain satisfactory academic progressEnroll full-time Enroll full-time U.S. citizen or permanent residentU.S. citizen or permanent residentSelective Service Registration, if requiredSelective Service Registration, if requiredMaximum award is $1,500Maximum award is $1,500Portable and renewable for four yearsPortable and renewable for four years

Teacher Education Assistance for College Teacher Education Assistance for College and Higher Education (TEACH) Grantand Higher Education (TEACH) Grant

U.S. citizenU.S. citizenUndergraduate or graduate at eligible schoolUndergraduate or graduate at eligible schoolBe enrolled in course work that is necessary to begin a career in Be enrolled in course work that is necessary to begin a career in teaching or plan to complete such course work. teaching or plan to complete such course work. Maintain at least a 3.25 GPAMaintain at least a 3.25 GPASign a TEACH Grant Agreement to Serve Sign a TEACH Grant Agreement to Serve Maximum award is $4,000Maximum award is $4,000

State of Michigan Programs

Need-Based

Michigan Competitive Scholarship

Michigan Tuition Grant

Tuition Incentive Program

Non Need-BasedChildren of Veterans Tuition Grant

College Savings Plans

MET

MESP

Need-Based Michigan Aid

Michigan Competitive ScholarshipUndergraduate students at approved MI postsecondary institutions

Student must demonstrate need and have qualifying ACT score

Enroll at least half time

MI resident

Maintain minimum GPA of 2.0 in college to renew

Need-Based Michigan Aid (continued)

Michigan Tuition GrantStudents enrolled at MI independent, non-profit, degree-granting college/university

Must demonstrate financial need

MI resident

Enroll at least half time

Meet institution’s SAP requirements for renewal

Need-Based Michigan Aid (continued)

Tuition Incentive ProgramMust have been Medicaid Eligible for 24 months out of 36 consecutive months

Pays a maximum of 24 semester or 36 term credits per academic year including mandatory fees

Qualified students are sent application form

Return form prior to:High school graduation or GED completion

20th birthday

Non Need-Based Michigan Aid

Children of Veterans Tuition GrantTuition assistance for children older than 16 and younger than 26 who are the natural or adopted child of a certain deceased or disabled Michigan veteran.

Eligibility Criteria

Michigan residentEnroll at least half-time

Maximum Award Amounts

$2,800 per year for full-time$2,100 per year for three-quarter-time$1,400 per year for half-time

College Savings Plans

Current IRAs

Education IRAs

529 College Savings Plans

Coverdell Education Savings Account

UGMA/UTMA Accounts

Parents’ Investment Account

Michigan College Savings Plans

Michigan Education Trust (MET)Pre-paid undergraduate tuition at today’s prices – three contract typesMaximum contributions – 4 years of prepaid contract purchaseUse for tuition and mandatory feesTotal contract price eligible for state tax deductionNo tax on distributions used for higher education expensesMonthly purchase by payroll deduction, ACH or coupon book

Michigan Education Savings Program (MESP)Savings/Investment programMaximum contributions – $235,000Use for higher education related expensesContributions of $5,000 (single) or $10,000 (joint) eligible for state tax deductionNo tax on withdrawals used for higher education expensesSeven investment options

Tax Credits and Deductions

American Opportunity Tax CreditMaximum credit of $2,500100% of the first $2,000 of qualified expenses25% of the next $2,000 qualified expenses

Lifetime Learning Tax CreditMaximum credit of $2,000Student Loan Interest

Tax DeductionDeduct up to $2,500 of student loan interest paid

Refer to: www.irs.gov/publications: Publication 970

Other Resources

Loan ofLast Resort

Various lending institutionsCheck with college financial aid officeCredit-based loans: interest rates from 4% -15%Co-signer may be required (lower interest rate) Major/area of study may influence repayment termsWatch for fees: disbursement, repayment, co-signerWatch for marketing gimmicks

Institutional Resources

Trustee ScholarshipsFoundation Endowment ScholarshipsFaculty Academic ScholarshipsShort Term Loans

Other Resources (continued)

Private ResourcesProfessional associationsFoundationsCorporationsCommunity organizations

CivicReligiousSocialAlumni

Commercial lending institutionsPlace of employmentResearch institutes

Searching for Resourcesthe “Traditional Way”

Check your high school bulletin board(s) or ask your guidance counselor

Check with local businesses, civic, and social organizations

Review library reference books

Inquire with employer or parent’s employer

Scholarship Searches

The College Board www.collegeboard.com

Thomson Peterson’s www.thomsonpeterson.com

Mapping Your Future www.mappingyourfuture.org

FinAid (FastWeb)www.finaid.org/scholarshipswww.fastweb.com

Scholarship ScamsIf it sounds too good to be true . . .

Victims of scholarship scams lose more than $100 million annually

Paying money to get money is a scam

Duplicates what you can find out for free

Watch forScholarships with application feeScholarship services who guarantee successSales pitches disguised as financial aid “seminars”

Refer to www.finaid.org/scholarships/scams.phtml

Summary

Student must:Apply for admission to the college(s)Apply for PIN access codeComplete and submit the FAFSA/RenewalCheck with college for other required forms and documentsReview Student Aid Report (SAR) Submit required documentation to the Financial Aid Office as soon as possible

Financial Aid Office will:Determine eligibilityPackage aidSend award letter or denial letter

Contacts: For Questions or Additional InformationGeneral Information

1-800-642-5626, Ext. 37054 Email: sfs@michigan.gov Web Site: www.michigan.gov/studentaid

Office of Scholarships and Grants 1-888-4-GRANTS Email: osg@michigan.gov Web Site: www.michigan.gov/osg

Michigan Education Trust (MET) 1-800-MET-4-KID Email: treasMET@michigan.gov Web Site: www. Setwithmet.com

Michigan Education Savings Program (MESP) 1-877-861-MESP Email: misaves@tiaa-cref.org Web Site: www.misaves.com

Michigan Postsecondary Handbookwww.michigan.gov/studentaid Look for the hyperlink on the right side of the page under Quick Links.