Financial aid workshop presentation 2016
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Transcript of Financial aid workshop presentation 2016
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Financial Aid Workshop
2016-2017Award Year
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Financial Aid Formula
Cost of Attendance-- Expected Family Contribution (EFC)________________________= FN =, or not =, FA
Please visit: www.collegeboard.com/pay
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Definition of Financial NeedCost of Attending College (COA)
College tuition, fees, books, housing, meals, transportation and other related costs associated with attending school.
Expected Family Contribution (EFC) The amount of money the government believes you and your family can reasonably contribute toward your education.
Your EFC determines the types and amounts of Federal and State aid you are eligible for.
Financial Need – Types of Aid
Scholarships Grants Loans Work Study
$25,000 (total cost for living on campus)
$5,000 remains the same at all colleges
$20,000 (aid packages can vary by college)
Financial Need = Cost of Attending School minus Expected Family Contribution
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Comparing College Costs
UC
$13,200
CSU
$7,077
Independent
$10,000 +
CommunityCollege
$46 per unit
$552 for 12 units
Yearly Tuition Costs
Additional Costs of Attendance include:
College fees: $1000 (student fees, parking, etc. )
Books: $2000 (both semesters)Room and Board: $12,000 – $15, 500
per yearPersonal Expenses: $3000
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Cost of Attendance- Financial Aid_______________________= PLUS eligibility 6.84%
PLUS Loans
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Financial Aid Packageswww.fafsa.gov
Grants Work Study Loans Scholarships
“Gift Aid” usually based on financial need
Jobs to help pay for school
Money on loan which must be repaid with interest after school attendance is stopped
Free Money based on specific criteria
Pell Grant Chafee
Grant Board of
Governors (BOG)
Cal Grant
Employment at the Campus
Not necessarily need based.
Subsidized Unsubsidiz
ed
On Campus
Off Campus
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“Raising all of them was hard enough, but when she heard that she had to fill out financial aid forms for all of them. . .”
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Start the 2016-2017 FAFSA
Schools to receive information◦ Federal School Codes - List up to 10 schools to receive
your information. Write school code (codes can be obtained from the www.fafsa.gov website or see your school counselor).
List most expensive school first.
List a California school in the first three
For each, indicate the appropriate housing plan.1. On Campus2. With parents3. Off Campus
1st College
Federal School Code
Housing Plan on campus with parent off campus
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Completing the FAFSAStudent Information – Section 1
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Student Dependency – Section 2
1993
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Parent Information Section 3
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Parent Information Section 3
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Parent Information – Section 3
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Supplemental Information PARENT DEMOGRAPHIC INFORMATION
Parent’s Marital Status: Parent’s Email Address:
When did your parents get married, separated or divorced?
Have your parents lived in California for the past 5 years? Yes or NO
Your Parent’s number of family members in household 2016-2017:
How many people in your parents’ household will be college students between July 1, 2016 and June 30, 2017?
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Key FAFSA DatesDecember 31st -- Income
Signing -- Assets
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2016-2017 Award Year
www.fafsa.gov
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Special CircumstancesMedical/DentalElementary/Secondary Tuition – private schools
Disasters/Crisis (loss of employment, loss of home, divorce, etc.)
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Undocumented Students – Rights and Responsibilities (AB 540)
Undocumented students: Cannot be denied admission based on immigration status Are not required to show an ID or Social Security card for
admission Are not required to show proof of legal US Residency for
admission if attended US High School for past 3 years and graduate from US High School
Special Application is required at UC, CSU and Community Colleges – contact the Admissions Office at these colleges and request the AB 540 Application
Students will receive in-state tuition Students do not qualify for financial aid; the
family must provide for the cost of attendance
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AB131 – Dream ActAllows student who meet AB 540
criteria to receive Cal GrantsFor Cal Grant “Entitlement”
candidates only◦GPA of 3.0 for Cal Grant A (unweighted) ◦GPA of 2.0 for Cal Grant B (unweighted)◦Online application will be opened January
2015 to gather FAFSA-like information◦Apply on line at dream.ca.gov
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Middle Class ScholarshipCalifornia – UC and CSU – FAFSA
Application- under $100,000 – up to 40%- $100,001 - $150,000 – at least 10%- no set amounts – being phased in over 4 years- how many apply, stage budget amountOther colleges – check with each
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PaperworkAdmissionsScholarshipsFinancial AidHousingSpecial Program
Deadlines vary
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Certificate of MailingU.S. Postal Service CERTIFICATE OF MAILINGMAY BE USED FOR DOMESTIC AND INTERNATIONAL MAIL. DOES NOT PROVIDE FOR INSURANCE – POSTMASTER________________________________________________________________Received From:
_________________________________________________________________________One piece of ordinary mail addressed to:
Affix fee here in stamps or meter postage and postmark. Inquire of Postmaster for current fee.
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Next steps Enter the information from this worksheet
www.fafsa.gov
No later than March 2, but at your earliest possible time. Cal Grant awards are given at intervals within the time period of January 1 through March 2.
CAL Grant GPA
The Sweetwater Union High School District will automatically send your Cal -Grant GPA to the California Student Aid Commission.
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Next StepsIndependent /Private CollegesIf you are applying to independent/private colleges, inquire if you will need to complete the following forms - CSS Financial Aid Profile- Institutional Financial Aid formScholarship ApplicationsOther Applications
Register and apply at www.collegeboard.com (worksheet, and on-line help available).
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Application Flow ChartStudent
FAFSAFederal Central
Processing System
ESARRoster SAR
College
AID PACKAGE
Disbursement System
SAR
Student
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Scholarships – A kind of “gift aid” that recognizes talent in academics, music, drama, athletics, leadership, service, etc. May or may not be based on financial aid.
Scholarship PortfolioTranscriptResume2 letters of recommendationPersonal Statement/Essay Responses
• Shake the Family Tree• Employers• Organizations• Religious Groups• Local Sources• Community Service
Groups• Cultural Clubs• Relatives
fastweb.comcollegeanswer.com
AVOID SCAMS – “Guarantees”, “Secrets”, Trusted Advisors – they charge for what you can do for free!
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Keep in mind•Final Decision – each college•Write a letter to EACH Financial Aid Office•Student’s name and ID on everything•Keep a copy of everything•Keep in touch with each office at college – Financial Aid, Admissions, Housing, Others•Deadlines•Re-apply each year
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Changes for 2017-2018Application cycle begins October 1, 2016 (rather than January 1, 2017
Income data based on “prior-prior year” from 2017-2018, use 2015 tax data
This is in early stages of development ………Keep in touch with FAO for updates
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Cash for College Workshops Please come and get FREE individual assistance with the following:
• $ Free Application for Federal Student Aid (FAFSA)• $1,000 Scholarship Opportunity!
Free Support to submit FAFSA on-line
February 6, 2016
9:00 – 12 noon
Montgomery High3250 Palm AveSan Diego, CA92154
February 20, 2016
9:00 – 12 noon
Chula Vista High820 Fourth AveChula Vista, CA 91910
February 27, 2016
9:00 – 12 noon
Eastlake High1120 Eastlake PkwyChula Vista, CA 91915
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Thinking ahead – Class of 2017San Diego National College Fair
2016Tuesday, April 20, 2016
9:00 a.m. to 12 noon6:00 p.m. to 8:30 p.m.
San Diego Convention Center
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QUESTIONS…Thank you for attending