The Financial Aid Process
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The Financial Aid Process
description
The Financial Aid Process. You Must…. Do your taxes! Estimate if necessary Complete the FAFSA form. Online – www.fafsa.gov Obtain pin #’s for student and parent (www.pin.ed.gov) Be sure to include School code(s) Financial Aid supplements the family resources. - PowerPoint PPT Presentation
Transcript of The Financial Aid Process
The Financial Aid
Process
You Must…
Do your taxes! Estimate if necessary
Complete the FAFSA form. Online – www.fafsa.gov Obtain pin #’s for student and parent
(www.pin.ed.gov) Be sure to include School code(s)
Financial Aid supplements the family resources
FAFSA on the Web’s Homepage
Enhanced IRS DRT Questions
4
Confirmation Page provides:
* confirmation #* estimated EFC
Print this page and keep for conversations with financial
aid offices
Cost of Attendance
Tuition and FeesRoom and Board
Books and SuppliesTransportation
Personal Expenses
Need Determined… Cost of Attendance-Expected Family Contribution
= Need
Types of AidEducational Loans
* Federal Direct Stafford Loans* Federal Direct Parent PLUS Loans
* Private Alternative Student Loans* University Loans
Employment
* Federal Work-Study* On-Campus Employment (Wage Payroll) * Off-Campus Employment
Grants
• Federal Grants• State Grants• Institutional Grants
Scholarships
• University Scholarships
• Private Scholarships
Now What? January – Compile all tax information February
1st Meet with your accountant March
1st File FAFSA Watch for email about results Watch mail/email for Financial Aid package
from college May
1st Make college decision
Tips and Reminders Remember that financing higher education involves a partnership
between you and your university. The student aid that you are eligible to receive, including loans, may not cover all your educational expenses.
Submit your FAFSA on the Web at www.fafsa.gov.
Keep a copy of your federal PIN once you receive it. The same PIN can be used each year to e-sign the FAFSA and to access your U.S. Department of Education records online.
You will need to submit the FAFSA every year--be aware of application deadlines.
If you have used tax estimates on your FAFSA, update your FAFSA with actual information once you have filed your tax return with the IRS.
Cost efficient college courseload
Helpful Websites
FAFSA.gov Studentaid.ed.gov FASTWEB.com (scholarship
clearinghouse) STUDENTLOANS.gov (accept loans)
Thank you Drive Safely
