Post on 30-Mar-2015
Please silence yourPlease silence your
CELL PHONECELL PHONE
Pickup a copy of “Fund Your Future”
One per Household
Financial AidFinancial AidHow to How to
Fund Your FutureFund Your Future
Danielle Bryant M-ZDanielle Bryant M-Z
Randall Jackson A-LRandall Jackson A-L
College is an Investment College is an Investment
High School GraduateHigh School Graduate$ 32,552$ 32,552
Bachelor’s DegreeBachelor’s Degree$ 53,324$ 53,324
Master’s DegreeMaster’s Degree$ 65,364$ 65,364
EFCEFC
Expected Family ContributionExpected Family Contribution What the Government Expects you to What the Government Expects you to
contributecontribute Will stay the same no mater which Will stay the same no mater which
college you attendcollege you attend
More information on page 13
COACOA
Cost of AttendanceCost of Attendance Tuition, Books Supplies, Housing, Tuition, Books Supplies, Housing,
Food, Transportation and presonal Food, Transportation and presonal expenses.expenses.
Your COA will vary from school to Your COA will vary from school to schoolschool
More information on page 13
Your Financial NeedYour Financial Need
Your COAYour COA
-- Your EFCYour EFC
____________________________________________
== Your Financial Need Your Financial Need
or Net Costor Net Cost
More information on page 1
4 Types of Student Aid4 Types of Student Aid
GrantsGrantsWork-StudyWork-StudyLoansLoansScholarshipsScholarships
More information on page 1
Federal GrantsFederal Grants
Federal Pell Grants/Free moneyFederal Pell Grants/Free money$5,472$5,472
Federal Supplemental Federal Supplemental Educational Opportunity Grant Educational Opportunity Grant or FSEOGor FSEOG$100 - $4,000$100 - $4,000
More information on page 8
Cal Grant Income and Asset CeilingsCal Grant Income and Asset CeilingsFor New and Renewing Applicants –
Dependent students and Independent students with dependents other than spouse
Cal Grant Cal Grant A and C B
Family size:Six or more $101,000 $55,500Five $93,700 $51,400Four $87,400 $45,900Three $80,400 $41,300Two $78,500 $36,700
WWW.CSAC.CA.GOVWWW.CSAC.CA.GOV
Cal Grant A
Additional Eligibility Criteria:• Meet income & asset ceiling (demonstrate financial
need)•3.00 minimum high school GPA•Pursuing AA and BA programs onlyAnnual award amounts may be:• Used for tuition and/or fees only• Held in reserve while attending community college
CSU UC Private
$ 5,472/yr $ 12,192/yr $ 9,708/yr
More information on page 6
Cal Grant B
•Very low income students who:• Meet the income and asset ceilings
•2.00 GPA minimum
•AA, BA/BS and Certificate programs
•Annual Awards• $1551 stipend first year
• Fees/Tuition plus $1551
• Available as Entitlement & Competitive Awards
More information on page 6
Cal Grant C
Low and Middle income students who:
•Enroll in vocational courses of study
•AA and Certificate programs only
•Can be used for any school expenses including tuition and fees
•Eligibility determined only after application is given Cal Grant A and B consideration
More information on page 6
Cal Grant GuaranteeCal Grant Guarantee
■ You’re guaranteed to receive a Cal Grant award You’re guaranteed to receive a Cal Grant award if you: if you: ♦ are a high school senior or recent graduate,are a high school senior or recent graduate,♦ apply by March 2, apply by March 2, ♦ graduate from a California high school, graduate from a California high school, ♦ meet income and asset ceilingsmeet income and asset ceilings♦ meet all other eligibility requirements, and meet all other eligibility requirements, and ♦ have financial need based on your college costs and have financial need based on your college costs and
your expected family contributionyour expected family contribution
More information on page 6
Make sure your graduating senior Make sure your graduating senior includes their high school on the FAFSA includes their high school on the FAFSA THS’s code is (053490)THS’s code is (053490)CSAC can then match between GPA CSAC can then match between GPA and FAFSA informationand FAFSA informationCSAC will be able to report to schools CSAC will be able to report to schools on missing GPAs and missing FAFSAson missing GPAs and missing FAFSAs
High School Entitlement Awards
Tracking your Cal GrantTracking your Cal Grant
■ Track your Cal Grant and/or California Track your Cal Grant and/or California Chafee Grant application or awardChafee Grant application or award
■ www.webgrants4students.org ♦ 24/7 access24/7 access♦ Secure accountSecure account♦ Make changes to your accountMake changes to your account
■ Avoid delays in getting your grant – keep Avoid delays in getting your grant – keep your account updatedyour account updated
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Work-StudyWork-StudyMoney for college that you earnMoney for college that you earn
Free Money Free Money Financial needFinancial needDepends on your collegeDepends on your college
LoansLoansMust be repaid this is Not Free Must be repaid this is Not Free
MoneyMoneyTwo kinds of Loans Two kinds of Loans
SubsidizedSubsidizedUnsubsidized Unsubsidized
$5,500 first year$5,500 first year
More information on page 9
■ Federal Stafford loansFederal Stafford loans♦ Subsidized Stafford loansSubsidized Stafford loans
Based solely on demonstrated financial needBased solely on demonstrated financial need The federal government pays the interest while you The federal government pays the interest while you
are in schoolare in school
♦ Unsubsidized Stafford loansUnsubsidized Stafford loans All eligible students can receive them, regardless of All eligible students can receive them, regardless of
income or assetsincome or assets You’re responsible for paying the interest while in You’re responsible for paying the interest while in
schoolschool
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LoansLoansMore information on page 9
Repaying your loanRepaying your loan
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Scholarship ResearchScholarship Research
Contact your high school counselorContact your high school counselor Visit the following websites:Visit the following websites:
Libraries (county and city)Libraries (county and city) BookstoresBookstores Local organizations (church groups, clubs)Local organizations (church groups, clubs) Contact parents place of employmentContact parents place of employment Contact the colleges of your choiceContact the colleges of your choice
www.fastweb.com
www.finaid.org
ScholarshipsScholarships Merit BasedMerit Based
Based on AccomplishmentsBased on Accomplishments GPAGPA Class rankClass rank Community ServiceCommunity Service
Need BasedNeed Based Based on Financial NeedBased on Financial Need
Cost of AttendanceCost of Attendance Expected Family ContributionExpected Family Contribution
Athletic Athletic Based on Playing College Sports Based on Playing College Sports
The CaliforniaThe CaliforniaMiddle Class ScholarshipMiddle Class Scholarship
Starts in 2014-2015 for undergraduate Starts in 2014-2015 for undergraduate students who are:students who are:Attending a CSU or UC campus (Current, Attending a CSU or UC campus (Current, Incoming First Time Freshmen and Transfer)Incoming First Time Freshmen and Transfer)From families with income less than $150kFrom families with income less than $150kU.S. citizens, permanent residents or AB 540U.S. citizens, permanent residents or AB 540Not incarceratedNot incarceratedCalifornia residentsCalifornia residents
Other ways to afford collegeOther ways to afford college
■ Private scholarshipsPrivate scholarships■ National Merit ScholarshipsNational Merit Scholarships■ Community serviceCommunity service■ The militaryThe military■ Credit for experienceCredit for experience■ Earn credit in high schoolEarn credit in high school■ Cooperative educationCooperative education■ Part-time workPart-time work■ Start at a community collegeStart at a community college■ ScholarShare college savings planScholarShare college savings plan■ Company-paid educationCompany-paid education■ Tax benefitsTax benefits■ Jobs that help you repay loansJobs that help you repay loans24
See page 14 in your workbook
Will You Qualify for Financial Aid?Will You Qualify for Financial Aid?
The FAFSAThe FAFSA www.FAFSA.ed.gov
California Dream ApplicationCalifornia Dream Application www.caldreamact.org
FAFSA4CasterFAFSA4Caster Get a peek into your futureGet a peek into your future www.federalstudentaid.ed.gov
Top 10 Things You Must DoTop 10 Things You Must Do
1.1. Submit the FAFSA or Dream Act Submit the FAFSA or Dream Act Application (AB540)Application (AB540)
2.2. Submit college applicationsSubmit college applications
3.3. Demonstrate financial needDemonstrate financial need
4.4. Have a high school diplomaHave a high school diploma
5.5. Be a U.S. Citizen or AB 540 studentBe a U.S. Citizen or AB 540 student
More information on page 1
Top 10 Things You Must DoTop 10 Things You Must Do
6.6. California ResidentCalifornia Resident7.7. Enroll in an eligible degree or Enroll in an eligible degree or
certificate programcertificate program8.8. Maintain Academic ProgressMaintain Academic Progress9.9. Have a Social Security numberHave a Social Security number10.10. Register with US Selective Register with US Selective
Service (males 18-25)Service (males 18-25)
More information on page 1
Are you dependent or Are you dependent or independent?independent?
10 different ways to claim your 10 different ways to claim your independence independence WorksheetWorksheet
““Dependency Override”Dependency Override”
How do you apply? #1How do you apply? #1
You need a Social Security numberYou need a Social Security number Name must matchName must match
Get a Federal Student Aid PINGet a Federal Student Aid PIN www.pin.ed.gov This is how you E-sign your FAFSAThis is how you E-sign your FAFSA
Your financial recordsYour financial records An email addressAn email address Your driver’s license numberYour driver’s license number
More information on page 5
How do you apply? #2How do you apply? #2
FAFSA Web WorksheetFAFSA Web Worksheet www.fafsa.ed.gov
Don’t wait to file your taxesDon’t wait to file your taxes Cash for CollegeCash for College January 22 from 4 to 7 p.m. January 22 from 4 to 7 p.m. Sign up tonight Sign up tonight
More information on page 5
How do you apply? #3How do you apply? #3
Complete the FAFSA onlineComplete the FAFSA online www.fafsa.ed.gov or www.caldreamact.org or www.caldreamact.org
Should take about an hourShould take about an hour Paper FAFSAPaper FAFSA
Photocopies or faxes are not acceptedPhotocopies or faxes are not accepted Don’t send tax formsDon’t send tax forms
More information on page 5
How do you apply? #4How do you apply? #4
Submit any other applicationsSubmit any other applications CSS/Financial aid ProfileCSS/Financial aid Profile
http://collegeboard.comhttp://collegeboard.com Ask the college financial aid officeAsk the college financial aid office
More information on page 5
How do you apply? #5How do you apply? #5
Review your Student Aid ReportReview your Student Aid Report The federal government selects 1 out of 3 The federal government selects 1 out of 3
for verificationfor verification Federal tax returns with w-2 formsFederal tax returns with w-2 forms
More information on page 10
How do you apply? #6How do you apply? #6
Review your California aid reportReview your California aid report Cal GrantCal Grant FAFSA by March 2FAFSA by March 2 THS will submit your GPA verification THS will submit your GPA verification Make corrections to FAFSAMake corrections to FAFSA If you were not awarded a Cal GrantIf you were not awarded a Cal Grant Community College by September 2Community College by September 2
More information on page 10 & 11
How do you apply? #7How do you apply? #7
Evaluate Your Financial aid OffersEvaluate Your Financial aid Offers Each college you list on your FAFSAEach college you list on your FAFSA COA might be covered by a mix of grantsCOA might be covered by a mix of grants Offers will vary – don’t miss deadlinesOffers will vary – don’t miss deadlines You can pick and choose the aid you want.You can pick and choose the aid you want.
More information on page 10 & 11
Sample financing planSample financing plan
http://californiacolleges.edu/finance/finance.asp36
Student: SerenaAge: 18Status: Single (dependent on parents)Housing: At home with parentsParent income: $40,000
(A) 2011-12 CSU cost of attendance (living at home with parents):Fees/tuition: $5,472Books/supplies/room/board/misc. expenses: $9,756
$15,228
(B) Grant assistance totalSerena is eligible for grant assistance based on her family’s financial resources. The campus aid office pulls together grant aid from a variety of sources, including federal Pell Grants, state Cal Grants and the CSU’s own grant funding.
$9,680
(A - B) = Net cost to familyThe net cost is the amount that Serena’s family must pay after need-based grants are taken into account.
$5,548
MANAGING THE NET COSTParents and students work together to cover the net cost using resources provided by the college, including parent and student education loans, part-time work during the academic year, and savings from summer earnings.
The net cost is not due all at once. Many costs, such as living expenses, are incurred over time.
Here is a sample of how Serena’s family might cover her net cost.
Serena’s parentsCombination of current earnings, savings or a parent loan: Serena’s parents would be expected to contribute $926 for the year.
$926
SerenaStudent part-time work during academic year:Student education loans:Savings from summer jobs:
$0$2,981$1,641
This chart is on page 13
Report AidReport Aid If your student get a scholarship and you If your student get a scholarship and you
would like to have the scholarship printed in would like to have the scholarship printed in the senior awards night program let Mrs. the senior awards night program let Mrs. Anderson in the career center know.Anderson in the career center know.
Parents be aware all scholarship awards Parents be aware all scholarship awards must be reported to your student’s college must be reported to your student’s college financial aid office, including local ones. financial aid office, including local ones.
Contact the counseling officeContact the counseling office
Phone 822-2146Phone 822-2146Email rjackson@teh.k12.ca.usEmail rjackson@teh.k12.ca.usEmail dbryant@teh.k12.ca.us Email dbryant@teh.k12.ca.us
See on January 22See on January 22thth
Cash for College signup tonightCash for College signup tonight
Thank you for comingThank you for comingUseful WebsitesUseful Websites
♦ ACT: www.actstudent.orgACT: www.actstudent.org♦ AmeriCorps: www.americorps.govAmeriCorps: www.americorps.gov♦ Cal Grants: www.calgrants.orgCal Grants: www.calgrants.org♦ California Cash for College workshops: California Cash for College workshops:
www.californiacashforcollege.org www.californiacashforcollege.org ♦ College Board: www.collegeboard.org College Board: www.collegeboard.org ♦ California colleges: www.californiacolleges.edu California colleges: www.californiacolleges.edu ♦ College Savings Plan: www.scholarshare.comCollege Savings Plan: www.scholarshare.com♦ ECMC: www.ecmc.orgECMC: www.ecmc.org♦ FAFSA: www.fafsa.gov FAFSA: www.fafsa.gov ♦ Federal Financial Aid: www.studentaid.ed.govFederal Financial Aid: www.studentaid.ed.gov
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