All About Financial Aid

By: Sanaa Gillam

 Financial Aid Basics
• 4 sources of financial aid
• The federal Government
• State Government
• Colleges and Universities
• Community groups
 Brief explanation of college costs
• College cost is how much you will
have to get in a college. All
institutions will list their costs on
their website.
 Financial Aid Calculator
• College cost calculator from the • You use this calculator to see how
college board much college will cost by the time
you enroll.
 Types of Financial Aid
•
• Scholarship Scholarships is considered a gift aid because they generally do not
need to be paid back.

• Grants • Grants is a form of financial aid that also do not need to be paid back.
•
• Loans Loans is when your borrowing money from a bank, government or
lending institutions with the understanding you have to pay the
• Work-Study money back.
• Undergraduate, graduate and professional students with financial
• Savings Plans need can participate in the Federal Work-Study program, numerous
postsecondary institutions offer work-study employment
opportunities to students.
• a saving plan is a way to offset the immediate out-of-pocket costs
that going to college can have on a family.
 Example of Scholarships
• An example of Georgia scholarships that are merit-
based is the HOPE Scholarship.
 Examples of Grant
• An example of this would be Georgia’s
own HOPE Grant and Zell Miller Grant. 
 Example of Loans
An example of a loan is an Student
Access Loan
 Example of Work-Study
An example of Work-Study would be working at the dining hall,in the
library, or the Federal Work-Study program
 Example of Savings Plan
An example of an Savings plan would be a 529 college saving plan
 Requirements for HOPE Scholarship
1. Meet U.S. citizenship or eligible non-citizen requirements;
2. Meet the postsecondary institutions Georgia Residency requirements;
3. Be enrolled as a degree-seeking student at a USG, TCSG or eligible private HOPE eligible
college or university in Georgia;
4. Be in compliance with Selective Service registration requirements;
5. Meet academic achievement standards;
6. Be in good standing on all student loans or other financial aid programs;
7. Be in compliance with the Georgia Drug-Free Postsecondary Education Act of 1990;
8. Not have exceeded the maximum award limits for any HOPE program
Requirements for Georgia’s own HOPE Grant

1. Be a legal resident of Georgia;

2. Meet enrollment requirements;
3. Be in compliance with Selective Service registration requirements;
4. Meet academic achievement standards;
5. Be in good standing on all student loans or other financial aid programs;
6. Be in compliance with the Georgia Drug-Free Postsecondary Education Act of
1990;
Requirements for Georgia’s own HOPE Grant
continued…
7. Be in compliance with the Georgia Drug-Free Postsecondary Education Act of 1990;
8. Not have exceeded the maximum award limits for any HOPE program;
9. Regardless of the number of HOPE Grant Paid-Hours or Combined-Paid Hours a
student has accumulated, such student is ineligible for HOPE Grant payment if he or
she has attained a Baccalaureate Degree, at any time, from any postsecondary
institution, including the equivalent of a Baccalaureate Degree from a foreign
institution as indicated by the foreign academic transcript and or foreign academic
transcript translation.
 Requirements for Student Access Loan

1. Be considered a Georgia resident and United States citizen or eligible non-citizen.

2. Complete a valid Free Application for Federal Student Aid (FAFSA) in order to apply for
this program.
3. Maintain Satisfactory Academic Progress (SAP) in accordance with the SAP policy at their
college or university.
4. Must be enrolled in an eligible Georgia postsecondary institution at least half-time.
5. Must be 18 years or older
6. Previous SAL borrowers must be current on their monthly KIT payments.
7. Meet all eligibility requirements.
 Requirements for Federal Work-Study
program
• It provides part-time employment while you are enrolled in school.
• It is available to undergraduate, graduate, and professional students with
financial need.
• It is available to full-time or part-time students.
• It is administered by schools participating in the Federal Work-Study
Program. Check with your school's financial aid office to find out if your
school participates.
 Who Can Get Financial Aid?
• Requirements
• Be a high school graduate or GED recipient.
• Be a U.S. citizen or eligible permanent resident.
• Be enrolled in an eligible program of study.
• Be registered with the Selective Service System, if you are a male (you
must register between the ages of 18 and 25).
• Have a valid Social Security number.
Who Can Get Financial Aid? Continued..
• What is selective services?
• Selective Service registration is required by law as the first part of a fair and
equitable system that, if authorized by the President and Congress, would
rapidly provide personnel to the Department of Defense while at the same time
providing for an Alternative Service Program for conscientious objectors.

• How do you keep financial aid?

• by making adequate grades.
• by completing enough classes or credit hours.
• by moving toward successfully completing your degree or certificate.
 HOW DO I APPLY/PLANNING
• 5 ways to apply
• by saving for college is a way to plan because it apart of budgeting.
• by investigating AP and others that can help you prepare for your college
career path.
• by investigating you options for participating in Dual Enrollment which lets
you take college courses for credit towards higher education.
• by spending your free time volunteering and participating in educational
programs which can help you with a better understanding of what career would
be right for you.
HOW DO I APPLY/PLANNING Continue...

• Talking with your counselors and also keep track of you HOPE GPA to
basically ensure you will be eligible for the Scholarship.
 Difference between FAFSA and
GSFC-Administered Programs

• The difference between FAFSA and GSFC- Administered Programs is

that GSFC- Administered programs are programs like Dual Enrollment
which allows you to take college courses classes and FAFSA is when
you take an application for like student aids so GSFC is a program and
FAFSA is a application.
 Complete Aid Process
1. Get Informed- when you find out how aid is calculated
2. Compare Aid Offers- when you review schools financial aid
packages
3. Reply to Aid Offer- when you accept aid from you chosen school
4. Sign Loan Agreement- when you complete a Master Promissory
Note
5. Complete Entrance Counseling- is before your first loan or Tech
Grant complete counseling
 Georgia Military College State Service
Scholarship
• Explanation- Georgia Military College is allocated 84 State Service
Scholarship slots and awards 42 new scholarships each year
• Requirements
• You must be graduated high school with a minimum 2.5 GPA and 800
combined SAT or composite 17 ACT score or earned no more than 30
semester or 45 quarter postsecondary hours with a minimum 2.5 GPA
 Links to things I used
•Georgia Features home page: https://www.gafutures.org/
•4 Sources of Financial Aid:
https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/
•Brief explanation of college costs:
Understanding College Costs | Georgia Student Finance Commission (gafutures.org)
•Financial Aid Calculator:
https://bigfuture.collegeboard.org/pay-for-college/college-costs/college-costs-calc
ulator
•Types of Financial Aid:
https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/types-of-fi
nancial-aid/#1
 Links I Used
Example of Scholarships, grant, Loans, work-study, and Savings plan :
Types of Financial Aid | Georgia Student Finance Commission (gafutures.org)

Requirements for HOPE Scholarship:

Basic Eligibility | Georgia Student Finance Commission (gafutures.org)

Requirements for Georgia’s own HOPE Grant:

Eligibility for the HOPE Grant | Georgia Student Finance Commission (gafutures.org)

Requirements for Student Access Loan:

Eligibility for the Student Access Loan | Georgia Student Finance Commission (gafutures.org)
 Links I Used
Requirements for Federal Work-Study program: Federal
Work-Study Program | Georgia Student Finance Commission (gafutures.org)

Who Can Get Financial Aid?: Who Can Get Financial Aid? | Georgia Student Finance Commission (gafutures.or g)

What is selective services?: Selective Service System - It’s Your Country. Protect it. : Selective Service System (sss.gov)

Difference between FAFSA and GSFC-Administered Programs:

Financial Aid Planning Tips | Georgia Student Finance Commission (gafutures.org)

Complete Aid Process: Complete the Financial Aid Process | Federal Student Aid
 Links I Used
Georgia Military College State Service Scholarship:
GMC App 2005-06 wo/costs.4pdf (gafutures.org)