You are on page 1of 14

FINANCIAL AID

SEMINAR
New Diana High School
presented by:
Brandy Humphreys, LPC, MA, CSC
Professional School Counselor
OBJECTIVES

Welcome
Free Application for Federal Student Aid, or FAFSA
Types of Financial Aid
Scholarship Search
Mom Experience
FAFSA
FREE Application for Federal Student Aid
FREE
https://fafsa.ed.gov
Determines Eligibility for Federal Aid
SAR Student Aid Report https://studentaid.ed.gov/sa/fafsa/next-steps/student-aid-report

EFC Expected Family Contribution


Timeline
October 1 FAFSA Opened
March 15 Regular Deadline
Some schools are using a new Priority Deadline of
December 15th Check your school to not miss a date
SAR Received at College
End of March FA /Packages/Notifications Mailed
April Students Weigh Offers and Compare Awards
May 1 Declare College, Make Deposits
THINK ABOUT IT
FSA ID Number
Access to Online System and Legal Electronic Signature.
Needed for Parent/Guardian and Student

FAFSA Required Documents


SSN Parent/Guardian/Student
Federal Income Tax Returns and W-2 Forms
Can be imported if taxes filed electronically and have been accepted
by Federal Govt. - IRS RETRIEVAL TOOL
PYY Prior Year Year2015 Tax Info for Class of 2018.
Current Bank Statements
Records of Un-Taxed Income
Records of Stocks, Bonds, Other Investments
BAD NEWS
The Federal Government
The College/University
When they take your financial information they do not take into account:
Your Car/Car Payment/Number of Cars, etc.
Your Home Loan/Loan Payment, etc.

Total Educational Expenses for an Academic Year


Expenses $25,000
- EFC (Expected Family Contribution -EFC $13,000
= Remaining Financial Aid Remaining$ 12,000

Some EFC: $0.00 (Grants/WS) The EFC will vary depending on your
Income Info, these are just examples.
Some EFC: $32,000 (Self Pay/Loans)
GOOD NEWS

Since schools are using Prior-Prior Year Tax Info, if your


situation has changed, be sure to communicate that with the
schools financial aid office.
i.e. loss of job, death, change in income or situation.

If cant hurt to ask!!!


TYPES OF FINANCIAL AID

Gift Aid/Merit Loans Work Study


Scholarships Types: Offered by School
Gift Aid Student
Parent Based on Need
No Repayment
Special Requirements Subsidized (Need Based) Directed by Financial
Financial Need Fed Govt pays interest Aid Office
Ex: Left Handed while student enrolled
part time
Grants
Un-Subsidized (Not Need)
Financial Need
Student/Parent pays
Ex: Pell Grant interest can be while
enrolled
THINK ABOUT IT
College Board Online Tool Make friends with your, or your
students, prospective college
financial aid department
Remember Priorities:
The college with the most
attractive (i.e. most money
offered) might not be the best
https://bigfuture.collegeboard.org/pay-for-college choice for you or your student.
To compare as many as four Think about all options:
financial aid packages: Enter into Distance From Home
about college costs and aid offers.
Friends
College Atmosphere/Culture
SCHOLARSHIP SEARCH
Can Be Overwhelming
Have a Plan
Who are you? Where are you headed?
Personal Inventory
Citizenship/State/Religion/Ethnicity/Disability/Military/Employers
(Parent/Guardian/Student)/Membership Organizations
Other
Academic Interests/Extracurricular/Career Interests

Free Should Never Cost Money


Avoiding Scams
https://bigfuture.collegeboard.org/pay-for-college/grants-and-
scholarships/how-to-avoid-financial-aid-scams
SOCIAL MEDIA
Facebook/Twitter/Instagram - Posting
Remind 101 Texting
Symbaloo
NDISD.org
Select High School
Select Counselor Link
Select College and Career Readiness
Scroll under the photo of George Washington, select the
symbaloo link
From there click on the site you want to visit
SYMBALOO WEB MIX

Borrowed Resources
WHERE TO LOOK
Counseling Office
Spreadsheet Update Email Information
(The spreadsheet will be linked once we start getting scholarship info in, usually about February)

Wall Folders, in Mrs. Roberts Office, parents are welcome to browse too.

College and Career Center at NDHS (Located in the Counselors Office)


Scholarship Books Compendium and US News Others

SSS (If you took the PSAT/NMQST and selected yes to the opt in.)
Student Search Service PSAT/NMQST

Prospective College/University
Deadlines (December 1?)
Merit (GPA ACT/SAT Scores) or Financial Need or Program (Music)

Organizations (Check out websites of business you frequent.)


ETPCU/Upshur Rural Electric/ETC

College Board https://mycollegedollars.hyfnrsx1.com/


THINK ABOUT IT
Things to Remember Folder
Resume
Highlights of Awards, Achievements, Recognitions
Asking for: Letters of Recommendation (Focus) & Thanking Writers
Transcript
Financial Aid Docs (SAR/Tax Info, etc)

Motivation High or Low, if LOW $$$


Kitchen Table Scholarship Sunday Night Sessions
Sticky Note of Due Date
Organized by Date
Every Sunday Night Completed that Weeks Applications
Keep a copy of EVERYTHING
Will allow you to know how to redeem the scholarship if you win it.
QUESTIONS/COMMENTS
Presentation on Website
http://hs.ndisd.org/