Samford Office of Financial Aid (205) 726-2905 - .
-
Upload
kory-mosley -
Category
Documents
-
view
219 -
download
1
Transcript of Samford Office of Financial Aid (205) 726-2905 - .
![Page 1: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/1.jpg)
Samford Office ofFinancial Aid
(205) 726-2905 - www.samford.edu/financialaid
![Page 2: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/2.jpg)
What Does College Cost?(Per semester)
Univ. of Alabama - $10,625
Auburn University - $9,345 Jefferson State Community College - $1,656 Miles College - $7,898 Alabama State University- $6,649 Univ. of North Alabama - $9,069 Jacksonville State University - $5,902 Alabama A&M University - $6,154 Samford University – $15,866
![Page 3: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/3.jpg)
What We’ll Cover
Types of Financial Aid
Sources of Financial Aid
Next Steps
![Page 4: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/4.jpg)
Types of Financial Aid
Grants/Scholarships (free money)
Self Help1. Loans2. Work Study
![Page 5: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/5.jpg)
Sources of Financial Aid
Federal Government
State Government
Private/Outside Resources
Your College or University
Personal Finances
![Page 6: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/6.jpg)
Federal Aid
Grants (free money)
Loans (self help)
Work Study (self help)
![Page 7: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/7.jpg)
Fed. Aid - FAFSAFree Application for Federal Student Aid
1. Free is the key – do not pay2. www.fafsa.gov NOT www.fafsa.com
![Page 8: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/8.jpg)
Fed. Aid - FAFSA
Starting point every year
Required by some colleges for institutional need-based aid
Available NOW
Input1. Parents’ and Student Income2. Demographic Information
![Page 9: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/9.jpg)
OutputEFC – Expected Family Contribution
1. Portable2. Key factor in determining NEED
FAFSA Forecasterhttp://www.fafsa4caster.ed.gov
Paper version on the web http://www.fafsa.ed.gov/options.htm
Fed. Aid - FAFSA
![Page 10: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/10.jpg)
Dependency Status1. Born before January 1, 1989 (2012-13)2. Married3. Have a dependent that receives at least
50% of their support from student4. Graduate student5. Orphan or ward of the court6. Veteran or Active Duty Soldier7. At risk of being homeless or is homeless
Fed. Aid - FAFSA
![Page 11: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/11.jpg)
Federal Aid - Grants
Pell Grant (all schools have access)
1. High need students2. Guaranteed3. 2012-2013 award of $5,5504. Award prorated due to enrollment status
SEOG (not all schools have access)
1. Pell recipients only 2. High need3. Awarded to full time students4. 2011-2012 award of $1,000 per year5. Not guaranteed
![Page 12: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/12.jpg)
Federal Aid – Work Study
Awards vary from college to college
Not available at all colleges
Must be enrolled at least half time
![Page 13: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/13.jpg)
Federal Aid - Loans
Stafford1. FAFSA required2. Guaranteed3. 6.8% interest rate for both Sub and Unsub4. $3,500 - $4,500 - $5,500 - $5,500 (plus extra
$2,000)5. Must be enrolled at least ½ time6. Six month grace period after graduation7. Two types
a. Subsidizedb. Unsubsidized
8. App in Samford Portal9. E-sign the Master Promissory Note
![Page 14: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/14.jpg)
PLUS Loan1. Parent Loan for Undergraduate Student2. Max amount is COA less any other aid3. Based on credit check of parent4. This is the parents’ loan not the
student’s5. 7.9% interest6. Payments begin after second (spring)
disbursement or later if be deferred until after graduation
Federal Aid - Loans
![Page 15: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/15.jpg)
State of Alabama Aid Programs
No central application like FAFSA
No ministerial students
Alabama Student Grant1. Application available in FAO/Website2. Amount varies – approx $2503. Prove Alabama residency
![Page 16: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/16.jpg)
Private/Outside Resource
Any scholarship or grant not from the state, feds or Samford
Form in student portal
Church
Employer – student’s and/or parents’
Corporations
Civic Groups
www.fastweb.com or www.scholarshipexperts.com or www.schoolsoup.com
![Page 17: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/17.jpg)
Institutional Specific Scholarships
Primarily awarded by the Admissions Office or the Financial Aid Office
Some awarded by the schools w/in univ.
Both merit based and need based awards
![Page 18: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/18.jpg)
Private Loans
Private Loans1. Not federally guaranteed2. Interest rate depends on credit3. Co-signer usually required for best
rates and approval4. Could be as expensive as a credit
card5. 6 to 9 month grace period6. Absolute last resort
![Page 19: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/19.jpg)
Additional InformationYour college’s financial aid web pagewww.samford.edu/financialaid/
www.finaid.org
www.collegeboard.com
www.fafsa.gov
www.college.gov and www.ed.gov
www.upromise.com
www.collegesavings.org
www.staffordloan.com
![Page 20: Samford Office of Financial Aid (205) 726-2905 - .](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649e315503460f94b21ae9/html5/thumbnails/20.jpg)
College Options
TuitionFees
Room + Board
Total Costs
Scholarships + Grants
Total Gift Aid
Costs - Gift Aid
Net Costs
Stafford LoanPerkins Loan
+ Parent Loan Total Loans
Cost Scorecard