Financial Aid Westmont High School Guidance Department Fall 2013.
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Transcript of Financial Aid Westmont High School Guidance Department Fall 2013.
What is Financial Aid?Financial Aid Myths
Application Process
Calculating Eligibility
Awarding and Packaging
What Next?
Agenda
What is Financial Aid?
Financial Aid is any money given or loaned to help pay for education
Federal Student Aid
California State Aid
What does it pay for?
Tuition and feesRoom and boardBooks and suppliesTransportationMay also include allowance for:
Child careCosts associated with a disabilityRental or purchase of computer
Cost of Attendance (COA) Expected Family Contribution (EFC)
Student’s Financial Need (eligibility)
Basic Equation of Need
Financial Aid Myths Myth #1:
You can’t afford college Myth #2:
You have to be very poor, very smart or very talented to qualify
Myth #3: You can get more scholarships by paying someone
to search for you Myth #4:
If you pay for college, your parents’ salaries don’t matter
Myth #5: You can wait until you get accepted to a college
before worrying about financial aid
Types of Financial Aid
Need-BasedBased on family’s financial situation
Non Need-Based (Scholarships/Loans)Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.
Types of Financial Aid
Gift Aid•Grants
•Federal Pell Grants•Cal Grants
•Scholarships
Self Help•Work Study•Loans
Types of Financial Aid – GIFT Federal Pell Grant
First source of aid
Undergraduate students only
Amount based onCost of Attendance (COA)Expected Family Contribution (EFC)Enrollment status
2013-2014 maximum = $5,550
Types of Financial Aid – GIFT Cal Grants
Cal Grant A
For students with a Grade Point Average (GPA) of at least 3.0, family income
and assets below the state ceilings, and who demonstrate financial need
Cal Grant B
For students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need
Cal Grant C
For students from low income families pursuing occupational, technical, and
vocational programs of study
Types of Financial Aid – GIFT College Grants Community College
Board of Governor’s Fee Waiver (BOG)Waives enrollment fees, FAFSA may be required
CSU State University Grant (SUG)
Amounts vary, FAFSA is required
UC GrantUse federal formula to award grants.
Independent College GrantsAmounts and application process vary
Creating a “WebGrants 4 Students” Account
Students create a WGS account with a submitted GPA to the Commission.
To establish a WGS account, go to www.webgrants4students.org and follow the instructions!
Types of Financial Aid – SELF-HELP Federal Work Study
Campus-based aid
Must be earned through work Job may be on or off campus
May have annual maximumfunding levels vary at each institution
Need-based
Types of Financial Aid – SELF-HELP Loans
Subsidized- Need based Interest paid by government
Unsubsidized- Not need based Student pays interest
PLUS - Not need based Borrowed by parent
Perkins - Need based 0% interest while in school
Step 1: Filing the FAFSA
Apply For A PIN
Students need a PIN. Parents need a PIN too.
PIN is student’s and parent’s signature.
The PIN Application Process consists of 3 steps:Step 1: Enter Personal InformationStep 2: Submit Your PIN Application Step 3: Receive Your PIN – KEEP IT PRIVATE!
www.pin.ed.gov
Information Needed to Register for a PIN
Social Security NumberLast name, First name, Middle initialDate of BirthAddressE-mail
The 2012-13 deadline
for FAFSA and GPA submission is Thursday, March 2, 2013
Many private schools have an earlier deadline such as
Febraury 1st, 2013 – check each campuses deadline.
What’s the deadline?
What is a name?
Must use legal name as it appears on social security card
Kimberly
Vicky Victoria
Kim
FAFSA Questions
What does the FAFSA ask about?General Student Information
Student income and Tax Information IRS Data RetrievalAvailable February 1st, 2013 Opt to “Transfer My Tax Information into the FAFSA” Can file FAFSA earlier (using estimated info.)Allow 2 weeks if taxes e-filed; 8 weeks if taxes done
on paperCan file FAFSA earlier (using estimated info.)
Who is eligible for financial aid?
U.S. Citizen, Eligible non-citizen, or Neither
Must have a Social Security Number to continue online application 800.772.1213 or www.ssa.gov
Matched with name and date of birth registered with SSA
Citizen or non-citizen?Eligible non-citizen
If you’re not in one of these categories, you must be an eligible noncitizen, and you must have an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:
"Asylum Granted“ "Refugee" "Cuban-Haitian Entrant, Status Pending" "Conditional Entrant” Victims of human trafficking, T-visa
Selective Service/ Inactive Draft
Males between 18 and 25 must register Check “Yes” and you will be automatically
registered Not yet 18, check yes and SSS will register
you on birth date May also register using Web site
www.sss.gov
Degree/Grade Level
Student’s Grade Level Check “1st year/never attended college before”,
whether or not a concurrent enrollment student
Degree Check “1st bachelor’s degree”
Student’s expected enrollment status Always check “full time” Does not commit you to attending full time
Parents’ Household Size
Include student and parents
Siblings/ other people (regardless of age) If they live with parents and provide 50% or more of
their financial support from July 1, 2011- June 30, 2013
Questions?
Financial Aid Night
at West Valley College Theater
Thursday, January 24th
6:30 – 8:00 PM
Free parking night of the event
Your To-Do List Complete GPA Release Form and return to the
Guidance office by Feb.25th.
Complete the FAFSA online beginning January 1st
Student and parent use PIN to sign Read and save confirmation page
Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 24th at 6:30
Watch for your Student Aid Report (SAR) and California Aid Report (CAR)