Financial Aid for College. Presented by Financial Aid and Scholarship Office

Financial Aid for College Presented by Financial Aid and Scholarship Office Where Does Financial Aid Come From? Federal government State government ...
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Financial Aid for College Presented by Financial Aid and Scholarship Office

Where Does Financial Aid Come From? Federal government State government

Colleges and universities Private agencies, companies, foundations, and your parents’ employers

Scholarships

Grants

Types of Aid

Workstudy

Loans

Scholarships Where to Start Looking: The College You Plan to Attend High School Counselor Office Parent’s Employer Service Clubs (Lions, Elks, Rotary) Local Ethnic Organizations Free Internet Web Searches (Fastweb.com) Library Local Corporations (Walmart, PG&E)

GRANTS Federal - Pell -Supplemental Educational Opportunity Grant (FSEOG) -Iraq & Afghanistan Service Grant

State -Cal Grant -Middle Class Scholarship (CSU & UC) -Chafee Grant

Institutional -Board of Governor’s Grant -State University Grant -UC Grant -EOP Grant

Cal Grant Application Requirements By March 2, 2017, complete and submit: Free Application for Federal Student Aid (FAFSA) Or California Dream Application (www.caldreamact.org)

Cal Grant GPA Verification Form

Eligibility for Cal Grants: California Resident

Attend California College in 2017/18

►Check with your high school or college counselor for more details on how to file the Cal Grant GPA Verification form

California

Student Aid Commission

Claim the Cal Grant Award

Create a WebGrants for Students Account

Confirm School or Make a School Change

Certify High School Graduation

WWW.WEBGRANTS4STUDENTS.ORG

California

Student Aid Commission

WGS – Cal Grant Main Menu

Workstudy

Federal Direct Loans • Must be Repaid • Fixed interest rate • 10 years to repay • Deferment and cancellations • Subsidized and Unsubsidized • There are annual limits and overall aggregate limit *Dream Loan-(CSU or UC only) for students filing DREAM ACT application.

Parent PLUS Loans • Must demonstrate credit worthiness • Fixed interest rate

• Repayment begins upon receipt of funds. Deferments may be available on a caseby-case basis. • Maximum repayment period between 10 and 30 years depending on total loan debt.

FAFSA www.fafsa.ed.gov • Collects family’s personal and financial information used to calculate financial strength of the household (EFC) • File early, but no later than March 2, 2017 (priority deadline) • Available in English and Spanish

**CaliforniaDream Act application https://dream.csac.ca.gov/

FAFSA on the Web – IRS data retrieval – Skip-logic allows student and/or parent to skip unnecessary questions – Detailed instructions and “help” for common questions – Ability to check application status on-line – Simplified renewal application process

www.fafsa.ed.gov

FSA ID www.fafsa.ed.gov

FSA ID is your Online signature. Both the student and parent need to the apply for one.

FAFSA on the Web

IRS Data Retrieval

IRS Data Retrieval

Confirmation Page

Student Aid Report

Most Common Mistakes -

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Name/SSN Dependent vs Independent Which Parent’s financial information to use Who is in the household Missing signature Not reviewing information before submitting If parent does not have a SSN put all zeros

Financial Aid Process File FAFSA

Student and College receive SAR/CAR

Student accepts award

School awards student

Student turns in verification documents to school (if applicable)

Special Circumstances Contact the Financial Aid Office if there is: – Loss or reduction in parent or student income or assets – Death or serious illness – Unusual medical or dental expenses not covered by insurance – Reduction in child support, social security benefits or other untaxed benefit

– Any other unusual circumstances that affect a family’s ability to contribute to higher education

Summary of the Financial Aid Process By March 2 submit a FAFSA or DREAM ACT Application and Cal Grant GPA Verification Form Submit all required forms as soon as requested Keep a copy of all forms submitted Review the electronic Student Aid Report (SAR) Acknowledgement or the paper SAR sent to the student Review the California Aid Report (CAR) Watch for financial aid award notifications from colleges to which the student has been admitted ASK QUESTIONS!

Good Luck!