Monticello High School College Planning Night September 2014.
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Transcript of Monticello High School College Planning Night September 2014.
Monticello High School
College Planning NightSeptember 2014
What is Financial Aid?
The Application Process
Helpful Resources
Questions
Funds made available to students & families to help pay for postsecondary educational expenses. These include:
• Scholarships/Grants – Money that does not need to be repaid
• Work Study – The student must work to earn funds
• Loans – The student or parent must pay back what was borrowed, and possibly additional interest
College/University Scholarships
Private and Community Scholarships
Need-based money awarded by colleges and universities.
Grants
Money that has to be repaid – repayment may be deferred until after the student graduates
Work Study
• Some application requirements and deadlines will vary from school to school.
• KNOW YOUR SCHOOL’S REQUIREMENTS AND DEADLINES!
• Your file may be selected by the US Department of Education for federal verification
• Financial Aid offices are required to verify income information using either:
1. A Tax Return Transcript, or2. The IRS Data Retrieval Tool (DRT), which is integrated into the online FAFSA.
• The FAFSA and other documents are used to determine the Expected Family Contribution (EFC).
• Schools use the EFC to determine eligibility for need-based financial aid and to prepare an award package.
• Pay close attention to College/University application deadlines.
• Use the IRS Data Retrieval Tool!
• Take advantage of the school’s Net Price Calculator.
• Continue to look and apply for scholarship opportunities.
Thank Thank you!you!