Welcome!

Heidi Markey; Associate Director Erika Walters; Financial Aid AdvisorUniversity of Denver

Financial Aid Categories• Merit• Awarded as part of the admission process• Students must meet specific eligibility criteria

as determined by the institution

• Need- Based• Calculated from the FAFSA/PROFILE data• Sources are federal, state, institutional

Financial Aid Applications

• Federal aid- Free Application for Federal Student Aid (FAFSA)• Required by all schools; available online at www.fafsa.ed.gov

• Available January 1, 2016

• Institutional Aid- CSS PROFILE • Required by some schools; available online at www.collegeboard.com

• Available now

Understanding the Expected Family Contribution• Applications are used to establish an Expected Family Contribution (EFC)• The amount of money a family is expected to contribute is based on the analysis

of FAFSA and/or PROFILE data• Not necessarily the amount of money a family can actually afford

• The family contribution may be the same regardless of which college the student attends- although…• The aid offered can differ from college to college!• Aid is based on a particular school’s packaging policies and the amount of

money they have to spend

Types of Financial Aid• Federal grants- Pell, SEOG• Federal Direct student loans

• Freshman= $5,500• Sophomore= $6,500• Junior= $7,500• Senior= $7,500Total= $27,000

• Federal Direct Parent PLUS loans• Federal Work Study• State grants• Private loans

The Cost of Attendance Should NOT be a Mystery

• Each school has a different cost of attendance• Direct costs= Billed through the institution• Tuition, fees, housing, food

• Indirect costs= Related educational expenses• Books, supplies, personal expenses,

transportation costs

• Net Price Calculators• Required to be posted on each school’s

admission and/or financial aid website

Private Scholarships• Civic groups• Non-profit organizations• Religious affiliations• Corporations• www.fastweb.com • www.finaid.org• www.scholarships.com • Search results include an indication of the value of the scholarship, due dates

and relevance as it relates to the student• High school counseling office• College or university financial aid office website

WUE- Western University Exchange• Students in Western states may enroll in participating two-year and

four-year public college programs at a reduced tuition level: up to 1.5 times of the institution’s regular resident tuition. • http://wiche.edu/wue

• Know each college’s priority deadlines• Financial aid is awarded on a first come-

first served basis

• Read each school’s website for details about their specific process• Required financial aid applications and

documents• Scholarship deadlines• Admission decision deadlines• Deadlines for supplemental documents-

tax returns, W-2’s

Meeting Deadlines is Essential

Thank You!