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 Year…2015 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

- EFC (Expected Family Contribution

= Remaining Financial Aid

• Some EFC: $0.00 (Grants/WS)

• Some EFC: $32,000 (Self Pay/Loans)

Expenses $25,000

-EFC $13,000

Remaining$ 12,000

The EFC will vary depending on your

Income Info, these are just examples.

GOOD NEWS…

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

situation has changed, be sure to communicate that with the

school’s financial aid office.

• i.e. loss of job, death, change in income or situation.

• If can’t hurt to ask!!!

TYPES OF FINANCIAL AID

Gift Aid/Merit• Scholarships

• Gift Aid

• No Repayment

• Special Requirements

• Financial Need

• Ex: Left Handed

• Grants

• Financial Need

• Ex: Pell Grant

Loans• Types:

• Student

• Parent

• Subsidized (Need Based)

• Fed Govt pays interest

while student enrolled –

part time

• Un-Subsidized (Not Need)

• Student/Parent pays

interest – can be while

enrolled

Work Study• Offered by School

• Based on Need

• Directed by Financial

Aid Office

THINK ABOUT IT

• College Board Online Tool

• https://bigfuture.collegeboard.org/pay-for-college

• To compare as many as four

financial aid packages: Enter into

about college costs and aid offers.

• Make friends with your, or your

student’s, prospective college

financial aid department

• Remember Priorities:

• The college with the most

attractive (i.e. most money

offered) might not be the best

choice for you or your student.

• Think about all options:

• Distance From Home

• 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. Robert’s Office, parents are welcome to browse too.

• College and Career Center at NDHS (Located in the Counselor’s 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 Week’s 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/