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KnowHow2GoKnowHow2GoFinancial Aid NightFinancial Aid Night
© 2007 Hispanic Scholarship Fund© 2007 Hispanic Scholarship Fund
WELCOME TOFINANCIAL AID NIGHT
Cost of Attendance
Tuition and Fees
Books, Supplies, and Equipment
Room and Board
Transportation
Miscellaneous Personal Expenses
What is Financial Aid?
Financial Aid is any source of financial support given to a student pursuing higher education.
Must be making progress toward a degree, certificate or credential
Must be U.S. citizen or eligible non-citizen
Must have valid Social Security #
Males registered w/ Selective Service
General Eligibility Requirements
AB 540 – In State TuitionAB 540 – In State Tuition Under state law approved in 2001, the
University of California, California State University, and the California Community Colleges systems can consider unauthorized alien for in-state tuition if:
1. they attend a California high school for at least three years,
2. graduate from a California high school or equivalent (GED), and
3. sign an affidavit pledging to apply for permanent residency as soon as they are eligible.
Students who are NOT U.S. Citizens, Permanent Residents or eligible residents should apply for scholarships.
These students are NOT eligible for government aid but they ARE ELIGIBLE to attend a college and university.
www.maldef.orgwww.latinocollegedollars.org
Types of Financial Aid
GrantsGrants
ScholarshipsScholarships
Work-StudyWork-Study
Education LoansEducation Loans
© 2007 Hispanic Scholarship Fund© 2007 Hispanic Scholarship Fund
Federal Pell Grant Based on financial need. Awards range $400-$4,500FSEOG Limited awards available Awards range $100-$4000Cal Grants (A, B, C) Awarded to CA residents, based on GPA and financial need University Grants
Federal & State GRANTS = FREE $$$$$
S C H O L A R S H I P S Merit Based Awarded for academic excellenceAthleticsEthnic & MinorityCorporate ScholarshipsPrivate Scholarships
SCHOLARSHIP SEARCH:www.fastweb.com www.maldef.orgwww.latinocollegedollars.org www.hsf.net
www.collegecampaign.org www.scholarships.com
Work Study
Based on financial need
Provides you with a job on or near campus
Helps pay educational expenses
Flexible schedule
FEDERAL LOAN PROGRAMS
Loans must be paid back!
Perkins Loan Need based loan
Subsidized Stafford Need based loan, Dept. of Ed. pays interest while student in school
Unsubsidized Stafford Borrower pays interest
PLUS- Parent Loan
How to ApplySubmit the FAFSA as soon as possible after January 1st (of senior year & after)
Priority deadline is March 2nd
Review the Student Aid Report (SAR)
Submit changes to SAR
www.fafsa.ed.gov www.fafsa.ed.gov www.pin.ed.govwww.pin.ed.gov
Sample Sample Financial Financial Aid PackageAid Package State Private
Pell Grant $1,000 $1,000State Scholarship $3,000 $3,000Institutional Grant $1,975 $9,750Loan-Stafford $2,625 $2,625Institutional Scholarships $1,000 $8,000 Work-Study $2,000 $2,000
Total Aid $11,600 $26,375
Total Cost $15,000 $30,000-Total Aid $11,600 $26,375Net Cost (EFC + Remainder) $ 3,400 $ 3,625
Review & QuestionsReview & Questions What is FAFSA?What is FAFSA?
What is a Grant?What is a Grant?
How do you get a scholarship?How do you get a scholarship?
What is the priority deadline for FAFSA?What is the priority deadline for FAFSA?
How can parents help their students apply How can parents help their students apply for FAFSA?for FAFSA?
Next steps…. Student & Parent obtain PINs
Gather financial documents 2008 Tax Forms2008 & 2009 W-2 formsDecember 2009 pay stub
Complete FAFSA worksheet
Attend Late Nights at the high school for assistance with FAFSA
Submit FAFSA before March 2nd